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.
'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.
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.
'How the lockdown is phased out or lifted will tell us if the government has succeeded in its battle against COVID-19.' 'If it cannot sequence its decisions on exiting the lockdown, the few gains secured so far may be frittered away,' says A K Bhattacharya.
'So far, no government has imposed a financial emergency in the country,' notes A K Bhattacharya.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
The government should have mentioned clearly the specific structural reforms that were responsible for the deviation from the fiscal deficit target by half a percentage point, says A K Bhattacharya.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
'What stood out at these meetings between industry representatives and government leaders was how the equation between the ministers and industry had undergone a subtle and qualitative change,' points out A K Bhattacharya.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
'A close relationship between India Inc and the government cannot help the BJP win elections.' 'While Opposition parties may feel good about Mr Bajaj criticising the Modi regime, the BJP should be seeing the indictment as a political boon,' says A K Bhattacharya.
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