'A balanced head plus heart approach would be a full opening up of the economy including manufacturing and internal travel in the country but excluding COVID-19 hotspots,' recommends Jaimini Bhagwati.
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The central bank may need to further ease the rates by 50-75 bps.
RBI also retained its GDP growth forecast at 7.6 per cent
Enhanced revenue generation is a priority for the government.
Prime Minister Singh has assigned a senior Congress leader to placate the President, who is upset with Finance Minister P Chidambaram, reports Anita Katyal.
Clearly, LoCs are becoming a key arrow in India's economic diplomacy quiver.
This is due to the newly formed Union Territories of Jammu and Kashmir, and Ladakh, which will get funds from the Centre's share, which means devolution will be for 28 states compared to 29 earlier.
India must announce liberal policies to attract foreign investors.
The six-member monetary policy committee voted 5:1 for the decision, with only Ravindra Dholakia voting for a 0.25 per cent reduction in rates.
Global disinflation has finally caught up with India's high-cost economy.
Subject to finance & tech from rich countries through an ambitious, fair Paris deal
However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation
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The rupee and equity turmoil seem over, with interest shifting to key personnel changes and 2014 polls.
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
According to a new report published by Switzerland-based BIS, which is also referred as 'bank for central banks', the US Federal Reserve's announcement of a possible phasing out of easy money regime has resulted in 'abrupt and sizeable' equity market losses in both advanced and emerging markets.
Aggressive rate hikes by the US Federal Reserve could result in a flight of capital from emerging markets like India, says B Gopkumar, chief executive officer, Reliance Securities.
Out of 389 SEZs notified, 170 are operational, Export Promotion Council for export-oriented units and special economic zones (EPCES) said in a statement.
US interest rate normalisation policy is likely to keep global FX markets volatile.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
The Budget has to provide for capex on roads, railways, defence and other infrastructure sectors.
'An era of fiscal pessimism is setting in, which, if not countered intellectually, is going to have the same effect as export pessimism has had,' notes T C A Srinivasa Raghavan.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
Modi will have limited choice other than stressing upon a request for more time to decide on tariff rates, especially with elections in 2019.
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
Swadeshi economist, columnist and chartered accountant S Gurumurthy speaks to Shobha Warrier about one year of Modi Sarkar.
'If anything, he is a fiscal hawk.' 'He has avoided fiscal profligacy completely for the past four years.' 'The fiscal deficits since 2014 are clear proof of this.' 'The point is not that it is not 3 per cent yet; it is that it is not 6, 7 or 8 per cent, which it could easily have been.' 'For this he needs to be congratulated.' 'He has recognised it no longer pays to spend other people's money to win elections,' points out T C A Srinivasa-Raghavan.
Sectors throw up a wishlist for the Finance Minister.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
The repo rate could be reduced by 50 bps in the current year.
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In the global market, the US dollar rose against the basket currencies in early trade as US President Barack Obama called for diplomacy in dealing with alleged chemical weapons attack in Syria but kept open the possibility of military action against the Assad regime.
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
From inflation, central bank shifts focus to rupee stability and capital flows.
Govt hikes excise duty on petrol, diesel to mop up Rs 2.5K-cr.
