However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
'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.
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.
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.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
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The rupee and equity turmoil seem over, with interest shifting to key personnel changes and 2014 polls.
Modi will have limited choice other than stressing upon a request for more time to decide on tariff rates, especially with elections in 2019.
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.
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.
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.
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
The Budget has to provide for capex on roads, railways, defence and other infrastructure sectors.
'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.
Swadeshi economist, columnist and chartered accountant S Gurumurthy speaks to Shobha Warrier about one year of Modi Sarkar.
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.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
'It has a natural inclination to foster as much competition among civilian politicians as possible.'
Sectors throw up a wishlist for the Finance Minister.
The repo rate could be reduced by 50 bps in the current year.
MF investors may not be able to support markets fall if selling intensifies
Govt hikes excise duty on petrol, diesel to mop up Rs 2.5K-cr.
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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.
'It will be interesting to see how Dr Patel handles gadflies with the maturity of egregiously petulant three year olds.' 'That Dr Patel does not, in so far as we can tell, cause society matrons to gush like hormonal teenagers can only be a good thing for him.' 'Look where their febrile imaginations and breathless prose took his predecessor.'
From inflation, central bank shifts focus to rupee stability and capital flows.
At the Interbank Foreign Exchange market, the domestic currency resumed stable at its overnight close of 60.07 a dollar and immediately touched a low of 60.09.
The Budget decides to take the lead in revving up infrastructure.
The Budget is remarkably coherent.
Bold reforms and prudent monetary and fiscal policies by the incoming Narendra Modi government will help the economy to grow at 6.5-7 percent, says a report.
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Gold prices on Tuesday rose by Rs 227 to Rs 28,418 per 10 gm in futures trade, largely on speculative positions created by participants amid a firming trend at the spot market.
Rajasthan CM Vasundhara Raje breaks her silence.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
Morgan Stanley expects RBI to cut rates sharply rather than "dribble down".
'During the transition process, we have some control over the withdrawals.' 'In terms of your wealth, the money in your deposit account is where it is.'
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
Denmark topped the list of the 144 nations.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
Reddy has worked to reform the economy.
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