Finance Minister Arun Jaitley presented the Budget in Parliament on Saturday.
It said while Indian IT services companies were the "disruptors" and had created the modern offshoring industry, they are now incumbents, challenged by a host of specialised and niche start-ups that have emerged in the new digital environment.
On the other hand, 16 or half of all states and Union Territories account for only 3 per cent of all exports.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
India economy clocked a five-year high growth rate of 7.6 per cent in 2015-16.
'Right now, politics is operating in a state of suspended animation. That works to Modi's advantage.'
Stung by the low 4.4 per cent growth projection for this fiscal, the pre-Budget Economic Survey on Thursday endorsed Kelkar Panel recommendations on tax reforms besides a cut in subsidies and interest rates to deal with mounting and worrying fiscal d
It is a national economic problem and one that requires a political solution hand in hand with a clear government commitment to stand behind core national assets, says Vinayak Chatterjee.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
New estimates of India's gross domestic product (GDP) are "puzzling", Arvind Subramanian, chief economic adviser at the finance ministry, said on Friday.
Legal sector may be opened up for foreign investment.
Budget session will begin on February 23 and conclude on May 8
The government is learnt to have described the Union Budget as an annual constitutional exercise covering the entire country and not just a few states.
Demonetisation hit informal sector hard and caused job losses which was not addressed by the budget, Moily said.
Indian economy has started looking up.
Finance Minister Arun Jaitley to present Union Budget on February 28.
Modi govt must bring about reforms to kick-start big-ticket infra projects.
India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
Maharashtra's economic survey for 2002-03 says the state's economy was expected to grow at a lower rate of four per cent as against 6.8 per cent in the previous fiscal.
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
Contract workers are paid much less than regular workers. This year's Economic Survey estimates wages are on an average 20 times higher in the formal sector than in the informal sector. Arindam Majumder reports.
The education sector has been badly hit in Kashmir Valley during the five-month-long unrest, causing "irreversible loss" to students, the Economic Survey Report has said.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Forex dealers said though increased demand for the US currency from importers put pressure on the rupee but a higher opening in the domestic equity market and the dollar's rise against other currencies overseas, capped the losses.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
The overseas market has developed into a significant competitor for India's two biggest markets -- rupee and stocks, the pre-Budget Economic Survey 2013-14 said, adding that ten years ago, the global market was practically absent in both these fields.
The Finance Ministry's Economic Survey had projected a growth rate of 7-7.75 per cent.
The national per capita income in 2013-14 stood at Rs 87,748.
The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
The President's address to Parliament on January 31 will contain the government's report card on the state of the economy, and will be no less important than the interim Budget announcements, says A K Bhattacharya.
The Survey lists some of the challenges that might impede India's progress.
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