The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.
With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
Tuesday's bridge collapse once again puts the spotlight on the city's urban infrastructure and a dire need for its development.
Finance Minister Nirmala Sitharaman spelled out water, its management, clean rivers as one of the 10 points of vision for the next decade.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
The election is likely to witness a three-cornered contest involving the ruling Aam Aadmi Party, the Bharatiya Janata Party and the Congress.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
What does Arun Jaitley's Union Budget have for India's student population? We explore
A 27-year-old professional shares the ordeal he underwent in the last three years after pursuing a course in animation from Delhi.
Many experts, including Nobel laureate Joseph Stiglitz, also suggested that industrial groups should not be allowed to do banking business.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
Regardless of who forms the next government, the interim Budget speech lays down a must-do list.
The issue of alleged tax evasion by Indians through banks and other entities in offshore locations, specially Switzerland, has been matter of a political debate in India.
It is unfair to expect Mr Jaitley to perform miracles with the Centre's straitened finances.
A summary of the budget speech of Union Finance Minister P Chidambaram in the Lok Sabha on Thursday.
The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
In the run up to the elections Narendra Modi kept telling us achche din aane wale hain. Far from that, Jaitley's Budget just seems to be more of the wohi raat aur wohi din, says Mohan Guruswamy.
A large part of this fund would be raised through public offers made to retail customers, he said.
Finance Minister Arun Jaitley may not raise I-T exemption limit to Rs 500,000.
Finance Minister Arun Jaitley may not raise I-T exemption limit to Rs 500,000.
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
There is no doubt that agricultural gross domestic product may grow by 4.6 per cent this year.
The Indian Railways has proposed to introduce a modern coach "Anubhuti" with good ambience in the premier Rajdhani and Shatabdi trains providing higher travel comfort to passengers.
Fuel cess, TDS on large cash payouts bid to destroy truckers and get foreign players in, says an industry body.
'Budget document should not be treated as something secret any longer.'
'How does it matter to me if a foreigner comes, starts an industry and makes India a $5 trillion economy when I am dead?'
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
If P Chidambaram's Budget speech was an hour-long attempt at presenting his government's and his own record in a good light - as he is perfectly entitled to do - such a "marketing" effort invites the recounting of an alternative retelling of the record.
Investors would have much preferred a gritty, honest appraisal of the tough trade-offs.
Chidambaram may announce higher fund allocation for the social sector, with focus on education, food, women and rural masses.
Without tinkering with the tax rates, Finance Minister Arun Jaitley in his maiden budget provided encouraging signals for domestic and foreign investors.
Sources in the Rural Development Ministry said the actual expenditure incurred in 2020-21 will be higher than the allocated funds and it will at least be at par with this year's total estimated expenditure of MGNREGS.
Conservation of cows in Rajasthan will entail a cost for those making rent agreements, mortgage papers and lease agreement as they will now pay a surcharge of 10 per cent on stamp duty for cow protection.
'Should you give a man fish, or teach him how to fish?' 'Lurking hidden in the new bout of welfarism seems to be an admission that the State can't deliver for the poor anything other than cash,' notes T N Ninan.
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