The National Council of Applied Economic Research also says that the fiscal deficit will overshoot budget target to touch 4.7 per cent of GDP in 2004-05.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Credit rating agencies have been raising red flag over high debt to GDP ratio of India.
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.
Finance Minister Arun Jaitley presented the Budget in Parliament on Saturday.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
'When you start distributing wealth, you end up distributing poverty.'
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
In the Budget speech, Arun Jaitley had first spoken about the need to have a range.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
'The TDP walking out of the NDA is a victory for the YSRCP.' 'The YSRCP wanted it to happen so that it would help them in coming elections.'
'Budget document should not be treated as something secret any longer.'
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
India suffers from peak power deficit of three per cent.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
PM's announcement were focused on those most affected by the note ban.
Member of Parliament Rajeev Chandrasekhar feels that the economy today is bankrupt due to big spending towards social welfare programmes such as NREGA.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
The government should frame new policies to assure growth.
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
A total of 22,27,506 farmers have obtained loan of about Rs 10,736 crore from cooperative banks in the state.
Arun Jaitley addressed a post-Budget press conference.
West Bengal has received total investment proposals worth around Rs 2.43 lakh crore spread across sectors like education, health, mining, steel, infrastructure and financial services during the two-day Bengal Global Business Summit, which concluded in Kolkata on Thursday.
'If some measures are implemented quickly, they can help revive growth.'
We should work in unison to boost growth: FM
Scrapping Plan and non-Plan classifications necessitates the change
RBI's latest rate cut will bring down home, car loan's EMI.
The macroeconomic environment has changed dramatically for the better.
The bigger worry is that its effects could linger well into the next financial year.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
Reform ideas do not occur overnight and evolve over the years.
The ripples from November 8 may be seen in next year's state budgets.
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