Amid expectations that Thursday levy cut would greatly facilitate reduction in STD, ISD rates
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
The extra borrowing implies Jaitley will have extra spending space in the Union Budget for FY19, the last full one before the 2019 general election
Government and Reserve Bank to take steps to arrest the fall of the currency.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
This is the fifth straight cut in rates by the Reserve Bank of India in as much policy reviews in 2019, and takes the total quantum of reductions to 1.35 per cent.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
The Reserve Bank of India is slated to announce its monetary policy review on January 29, amid industry demand for lowering of interest rates to spur growth.
The majority view remains for the central bank to leave the cash reserve ratio unchanged at 4 per cent.
While efforts are being mounted on a war footing to arrest its spread, COVID-19 will impact economic activity in India directly through domestic lockdown. The second-round effects, it said, would operate through a severe slowdown in global trade and growth.
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
'A time-wise, as well as price correction, so that the market can absorb the gains made over the past 17 months.'
The CDS has the option to focus on key areas of capability development to fight new generation wars or get bogged down in trying to bring cosmetic changes to humour the political leadership, asserts Brigadier Narender Kumar (retd).
Financial shares and auto stocks among the top gainers for the day
Trai's decision to reduce the rates of ADC after due consultation would pave the path for lower telecom tariffs, sustained growth, while reduction in rate of ADC on international calls would reduce arbitrage.
The rates, on net calorific value (NCV) basis, dropped to $ 5.05 per mmBtu for six month period beginning April 1, 2015.
Exports increased by 10.6 per cent in the first quarter of 2014-15 to $81.7 billion. Imports moderated by 6.5 per cent to $116.4 billion. The CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of $ 87.8 billion (4.8 per cent) in 2012-13 fiscal mainly on account of steep increase in gold imports.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
The budget has strong growth impulses and response of the economy is positive.
Why India is an attractive investment destination
Seeking to dispel fears over the state of economy, Finance Minister P Chidambaram on Thursday said the country will return to high growth of 7 per cent in two years and promised adequate public spending to stimulate it.
State-owned Bharat Sanchar Nigam has challenged a massive reduction in fee paid to it by private operators, saying its rural operations would be severely hit as a result.\n\n
An international seminar on accounting practices opened on Monday with Finance Commission chairman C Rangarajan asking the government to ensure better expenditure control for containing fiscal deficit.\n\n\n\n
Long distance rates are likely to see massive reduction with Bharat Sanchar Nigam all set to announce fresh rates under the uniform STD tariffs
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
The government's plans to reign in petroleum subsidies to plug the fiscal deficit next financial year are in jeopardy, as a whopping Rs 2.13 lakh-crore revenue loss is expected at the current levels of global crude oil prices and domestic retail prices of controlled products.
It is not easy to be positive on Indian economy. But it is worth a try to do so this festive season thanks the positive developments of the recent past.
An effort by President Barack Obama played a key role in returning him to the White House for another stint.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
The rupee came under pressure on demand from importers as the dollar strengthened overseas.
After a delayed start, the monsoon is advancing steadily.
Prime Minister Manmohan Singh said he wanted reduction in the fiscal and revenue deficits, an increase in public investment, and cuts on wasteful subsidies.
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
