Government needs to rethink its over-dependency on imported petrol, and come up with ways to stabilise the Indian rupee.
Hospitals empanelled for Modicare may give preference to poor patients over the middle class for fear of strict government action, says Harsh Roongta.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
'We have severely under-invested in waste water treatment.' 'We charge for water a minimal amount and we don't charge anything extra for providing sewerage service.' 'As a result, every water entity is cash-strapped.'
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
Government is expected to rely more on divestment proceeds to keep the fiscal deficit in check
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
Two days after constituting a 10-member Group of Ministers on Telangana, the government reorganised the panel, dropping Minister of Human Resource Development M Pallam Raju and bringing in Defence Minister A K Antony. The number has also been brought down to seven.
The cancellation of over a million duplicate or multiple permanent account numbers belonging to the same person or entity may have led to the disappearance of many of those who used to file returns earlier, but now no longer exist, says A K Bhattacharya.
A developing economy like India needs resources and revenues to be able to distribute them equitably.
'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.
The government on Friday asked the Comptroller and Auditor General (CAG) to suggest ways to curb its rising subsidy bill on food, fertiliser and petroleum products without hurting the targetted population.
India's rank in the World Bank's ease of doing business index cannot get better unless more attention is paid to bringing about procedural reforms in the way states run their governments and provide various approvals for trade and industry, says A K Bhattacharya.
The government on Thusday said it is examining a proposal for setting up a venture capital fund to promote drug discovery in India.
There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy.
The empowered committee of state finance ministers has virtually trashed the Thirteenth Finance Commission taskforce's Goods and Services Tax report.
Justice Rajiv Sahay Endlaw dismissed the plea of an employee that departmental inquiry and consequent dismissal from job for forging a rent receipt was illegal as the National Institute of Public Finance and Policy had no rules governing services.
The fiscal deficit, gap between expenditure and revenue.
Finance Commission has got new team who are committed to growth initiatives.
'If I were in the Indian government, I would look at the growth projections in the next year. If it is a good and normal growth number, I would go for roll back.'
'A buoyant market economy is one which is led by the innovation and imagination of private persons,' notes Ajay Shah.
The Prime Minister's Economic Advisory Council on Wednesday favoured further increase in petroleum prices in line with the global trend.
However, economic growth in five years of the UPA and NDA cannot be compared because of the now complex back series data, reports Indivjal Dhasmana.
S&P expects India to grow at 7.4 per cent in 2015, similar to the central bank's forecast for the fiscal year ending in March.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
Global rating agency Moody's on Tuesday expressed concern on India's high fiscal deficit projected at 6.8 per cent for 2009-10 and cautioned that the situation may become complicated in the absence of measures like clear road map for disinvestment and structural reforms.
If the Budget is status quo, the market will not fall much and the rewards for going long would be high.
If the Budget is status quo, the market will not fall much and the rewards for going long would be high.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
After revising the sovereign outlook for India from stable to negative, Standard & Poor's Director for Sovereign and International Public Finance ratings Takahira Ogawa says the fiscal position holds the key to future course of action.
The outgo towards salary will further rise in 2017-18 to over Rs 1.28 lakh crore.
It raises three major questions - the incentive compatibility issue, the fairness issue and fiscal challenge, said Panagariya.
According to the daily, the move comes as the government is getting ready to lift another auto maker Chrysler from bankruptcy protection 'as soon as next week'. Attributing to a source, The Washington Post said under the GM draft bankruptcy plan, the company would receive just short of $30 billion in additional federal loans.
India will have to devise policies to ensure overall growth in FY16.
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
The total value of M&As involving Indian companies surged nearly 63 per cent to $7.8 billion in the first three months of 2016, primarily spurred by big-ticket divestment transactions.
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