The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
'There can be no dispute over the adverse impact such a policy will surely have on India's manufacturing competitiveness,' notes A K Bhattacharya.
The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
'It may be prudent not to plunge into a new online tax appeals system in one go, which could only create more disputes and increase the embarrassingly high tax arrears of the government,' warns A K Bhattacharya.
MEIL has become one of the fastest growing and most successful infrastructure and engineering, procurement, and construction companies in the country in recent times.
The scrutiny started when it came to the government's notice that Shelf Drilling, a company that operates one third of ONGC's contracted jackup rig and earns a revenue of close to $220,000 a day, has China Merchant Group as its single largest shareholder.
Far more important than governance is to ensure how different states get necessary representation a'The pressure to expand the council of ministers will come from states where the BJP has formed a government after ousting the Congress,' predicts A K Bhattacharya.
'An explanation perhaps lies in the culture of revisions that has grown deep roots in the government data collection system,' notes A K Bhattacharya.
'The road ahead for the government's fiscal management will be full of many new challenges,' warns A K Bhattacharya.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
Every time the Indian economy has faced headwinds due to international developments, the oil sector has played a crucial role, explains A K Bhattacharya.
'Given that the economy is going through a slowdown, further downward revisions of the 2019-2020 growth estimates cannot be ruled out,' notes A K Bhattacharya.
'Instead of wailing about the absence of tax benefits, the private sector should press for an early implementation of the package of measures,' advises A K Bhattacharya.
'As much as $4 billion in India's start-up companies has come from Chinese funds.' 'Government policy must not remain indifferent to the problems India's start-up ventures are likely to face after the change in FDI rules,' says A K Bhattacharya.
'The impact of COVID-19 on the economy has been so overwhelming that even a significant drop in global oil prices, which in normal times would have brought cheer, has posed new challenges for the government,' observes A K Bhattacharya.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
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