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.
'If some measures are implemented quickly, they can help revive growth.'
India's balance of payments in negative territory.
The industry's reactions to the Budget have been mixed.
During deleveraging the income falls more than reduction in debt due to the austerity measures.
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.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
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.
Telecom regulator TRAI has postponed the announcement of reduction in Access Deficit Charge in view of strong opposition from the incumbent operator Bharat Sanchar Nigam Ltd.
Indian economy was growing faster than the global average and all other major economies: FM
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 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.
Bharat Sanchar Nigam Limited is likely to register a lower profit of upto Rs 8,000 crore (Rs 80 billion) in 2005-06 compared to over Rs 10,000 crore (Rs 100 billion) in the previous year.
The government on Tuesday said the IMF had expressed concern about sustainability of India's fiscal situation and debt position.
Governor Raghuram Rajan lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
The European Union on Thursday said India will surpass 7.0 per cent growth this year and the new United Progressive Alliance government is expected to continue with reforms, including reduction in fiscal deficit.
RBI's latest rate cut is positive for the economy.
'We have promised to ensure reduced tax rates.'
'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.
Union Budget had projected the fiscal deficit at Rs 5.56 lakh crore.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
Telecom player Bharti on Thursday said it would pass on the full benefits of the cut in Access Deficit Charge to its subscribers from February 1, when the new regime comes into effect.
There is a scope for 30 per cent reduction in mobile tariffs if the government brings down current taxes on telecom industry, Sunil Mittal, chief managing director, Bharti Enterprises said on Tuesday.
Softening its stand on reduction in access deficit charge, a levy paid by private operators to BSNL for rural telephony, the department of telecom on Tuesday said the Telecom Regulatory Authority of India must ensure that by doing so the revenues of
'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 is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
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.
A continued focus on low inflation will be important to keeping gold imports, IMF said.
RBI has taken a balanced approach in the credit policy considering various developments across the globe and their near term impact.
