How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
'From the tiniest to mid-level organisations and even some at the lower end of the large-scale ones would say that computerisation and the extensive documentation and regulatory requirements for GST have made the compliance process worse in many cases.'
It's the beginning of a rate reduction cycle
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
The government should frame new policies to assure growth.
Monetary policy easing, coupled with the relaxation of lending rules and greater election-driven fiscal spending in the first quarter of 2019, will provide some support to growth during the first half of 2019-20 fiscal
Despite the 6-month high, trade deficit has widened to a four-month high of $14.62 billion, as imports rose by 14.85 per cent during the month, reports Subhayan Chakraborty.
The comments by the minister came following a controversy over the reduction of syllabus by the CBSE due to the COVID-19 situation, with the Opposition alleging that chapters on India's democracy and plurality are being "dropped" to propagate a particular ideology.
The government is expected to announce the second stimulus package in the next three days.
'A major thrust is required by the government to stimulate rural demand'.
We are much better placed than in 2013 with our overall fundamentals much stronger - higher foreign exchange reserves, a more favourable growth-inflation mix and an institutional framework for targeting inflation, says B Prasanna.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
'If some measures are implemented quickly, they can help revive growth.'
Indian economy was growing faster than the global average and all other major economies: FM
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The decision to deregulate the diesel prices is expected to bring the oil subsidy down Rs 15,000 crore (Rs 150 billion), the agency said, adding the ongoing correction in global crude prices will also result in sizable gains for the government.
With crude and commodity prices ebbing and the twin deficits under check, the Reserve Bank should have cut the key policy rate to push investments and boost economic growth, India Inc said.
Govt proposes to introduce redeemable gold bonds.
One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
State-run BSNL on Saturday approached telecom tribunal TDSAT against sector regulator TRAI's decision to cut a levy paid by private operators to the public sector company for its rural operations.
The Prime Ministry's Economic Advisory Council Chairman also said fiscal deficit is a concern too and suggested raising domestic oil prices to restrict it to the budget target of 4.8 per cent of the gross domestic product in this fiscal.
Trade deficit for the quarter narrowed by about a third to $30.7 billion from $45.6 billion in the year-ago period.
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.
Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
'We have promised to ensure reduced tax rates.'
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
Dhawal Dalal, executive vice-president & head, fixed income, DSP BlackRock Investment Managers, expects the central bank to hold rates for the rest of calendar year 2016.
Lower fuel subsidy payouts might restrict gross fiscal deficit in FY15.
India's balance of payments in negative territory.
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
During deleveraging the income falls more than reduction in debt due to the austerity measures.
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.
Governor Raghuram Rajan lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
Gokhale and Pompeo expressed satisfaction over the significant progress and the quality of the India-US Strategic Partnership
The industry's reactions to the Budget have been mixed.
RBI's latest rate cut is positive for the economy.
Union Budget had projected the fiscal deficit at Rs 5.56 lakh crore.
Further telecom tariff reduction is on the anvil as department of telecom is in the process of issuing direction to the Telecom Regulatory Authority of India to come out with the revenue-share based access deficit charge.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
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