The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
"People forgot about income for farmers. But for the first time, this thinking has been changed," he said and listed steps the Centre has taken for the welfare of farmers.
The proceedings of Lok Sabha and Rajya Sabha were adjourned for the day on Tuesday amid continuous protests by opposition members over the Pegasus snooping row and farm laws, as they demanded that discussions be taken up on the issues in the House.
Slamming the critics who 'started questioning his work' even when he had not seen his office properly, Modi said his government's programmes are mostly for the benefit of farmers and poor people, besides ending the role of middlemen, including in jobs.
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
The Bharatiya Janata Party's unit in Madhya Pradesh on Saturday announced a slew of measures for the poor and the youth as it unveiled its manifesto for the November 25 assembly elections.
A good monsoon would translate into demand pickup across multiple sectors.
'The BJP has everything to lose if it performs poorly in UP. It dreads a repeat of Bihar,' says Rajeev Sharma.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The driver of the lorry apparently lost control after the tyre burst and jumped the median and collided with the oncoming passenger bus, police said. The driver Hemaraj, a native of Ernakulam, has been arrested.
Modi accuses Congress of spreading 'lies, confusion and pessimism'
'In the final analysis, all Budgets everywhere are like the schemes hatched by A A Milne's lovable Winnie-the-Pooh.' 'They may be well-intended, but often go awry.' 'Although Pooh and his friends agree that he 'has very little brain', he is occasionally acknowledged to have a clever idea, usually driven by common sense.' 'This Budget at a first glance does not appear to belong to that latter category,' says economist Shreekant Sambrani.
The government is doing things in agriculture that count for little, says Shreekant Sambrani.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
Gujarat govt will set up a Tribal university in the Narmada district, over 100 smart Ashram shalas, 10 new hostels for tribal girl students
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Economist S Janakarajan, in an interview to Shobha Warrier/Rediff.com warns that without proper infrastructure, India will never be able to build a market economy.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The well-irrigated states of Punjab, Haryana, Karnataka, western Uttar Pradesh and coastal states such as Odisha are, for the first time, feeling the effects of a poor monsoon.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
That apart, farmers will get loans for post-harvest storage of their produce at a subsidised interest rate of 7 per cent for six months.
Rejecting criticism of jobless growth, he said if state after state is creating good number of jobs, how can the Centre be creating joblessness?
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
'This may be good news for Rahul Gandhi, for no matter how Modi performs, there will always be some degree of dissatisfaction with his performance among large sections of voters,' says R Jagannathan.
Most farmers depend on rainwater for farming.
The area-based income compensation scheme says that farmers should be paid the difference between the actual price they get and the state-mandated MSP. The compensation will be determined on a per acre basis by using district-level estimates of marketable surplus and prices in the harvest season.
Satellite analysis can assess vegetation cover down to field level.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
It said the money supply recovered to its pre-demonetisation level in mid-2017 and is now increasing steadily, similar to the previous trend.
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.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
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