'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
In the first of a two-part series, Business Standard examines the impact of the upcoming summer on agriculture and drinking water supply.
Infrastructure, stricter implementation boost commercial vehicle sales
Upgradation to the new product (from Infosys) will stabilise by this month-end
The Union Budget announcement of a minimum support price (MSP) that will be 50 per cent more than the cost of production has started a debate on the calculation of cost. Ramesh Chand, member, NITI Aayog, speaks to Sanjeeb Mukherjee on this and related issues.
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
The 14th Finance Commission had recommended that states' share in the divisible tax pool be raised to 42 per cent, from 32 per cent earlier.
If an equity share is purchased before January 31, 2018, at Rs 100 and the highest price quoted on January 31, 2018, in respect of this share is Rs 120, there will be no tax on the gain of Rs 20.
The existing double taxation avoidance agreements will not be covered by the proposed change, implying that in order to tax Facebook, Google and the like, India will require to renegotiate tax treaties.
The Budget allocation for Ministry of Agriculture and allied activities has grown by 114% since 2010-11
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
The budgeted indirect tax collection target is Rs 9.26 trillion, and the Centre has collected around Rs 5 trillion in the first 8 months. So it needs another Rs 4.2 trn in the last four months
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
7 million jobs will be created in formal sector in FY18
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
The year 2018 is likely to be steady in terms of institutional investment into real estate
Economists want the government to focus on jobs, farms, and fiscal consolidation. They also favour re-imposition of the long-term capital gains tax on listed securities and mutual funds.
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
Rural budget set to increase; likely to enhance market linkages for agri commodities
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