"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
Delhi, which has gained infamy as one of the world's most polluted cities, has for some years now witnessed a sustained campaign from various quarters seeking a ban on firecrackers. While the Centre launched the newly approved, eco-friendly firecrackers earlier this month as a "safer and cheaper" alternative, the mood in the market is tepid, says Ritwik Sharma.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
'I give Modi full credit, for brilliantly using his personal diplomacy, his personal stature, to accomplish his goals...'
'If some measures are implemented quickly, they can help revive growth.'
This Budget plans for an increase to 10.3% of GDP from 9.9%.
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
Finance minister tries to put house in order before reforms are unveiled in February.
After his decision to return back to academia, there have been voices suggesting that his candid public speeches were one of the aspects which made the government uncomfortable about reappointing Rajan for another term
Contentious issues such as the construction of a Ram Temple in Ayodhya, abrogation of Art 370 giving special status to Jammu and Kashmir and enactment of Uniform Civil Code have been included in the Bharatiya Janata Party's election manifesto with the party making promises on them.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Indian economy about to take-off
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
'Jin Jiang had invested in Louvre Hotels.' 'Louvre, a couple of months ago, took a majority in Sarovar hotels.' 'So they are coming in now.' 'Look at the Chinese -- two quarters ago they took 25 percent in Hilton.' And then HNA also took majority in Carlson (Radisson).'
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Boost to dairy sector will generate jobs
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