Salaries in India are expected to increase by 10.3 per cent in 2023, highest among major world economies and Asian peers, according to Aon plc. In 2022, salaries in India witnessed an actual increase of 10.6 per cent in 2022. As per Aon plc's 28th Annual Salary Increase Survey in India, double-digit salary growth will continue in India despite economic volatility, largely as a response to high attrition rates.
The govt hiked defence budget by 7.81 per cent over last year's Rs 2.74 lakh crore.
'All the venues are high-scoring venues. So what you need is pace.' 'You really want someone to come there and control the flow of runs in the death overs, whether you are setting a target or setting a target.' 'It is going to be the fast bowlers because at how many venues have you seen spinners bowling the death overs?'
'The finance minister and the government have met the immediate challenge. The wine this time is new and also in a new bottle, which, though not full, is less than half empty.'
Several speakers noted that Budget carried the weight of expectations.
FM may increase income-tax exemption limit to Rs 3 lakh
Here is a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the two aspiring CMs.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
This is the BJP's first full-year Budget.
However, the budget arithmetic is slightly optimistic.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
As a percentage of the aggregate Budget expenditure, it is 12 per cent.
An asset swap can simultaneously boost public investment, reduce the fiscal deficit and keep fiscal policy from being pro-cyclical.
Cement companies witnessed speculative support from investors through FY23 amid hopes of a rebound. After capex announcements in the FY24 Budget, there was further interest due to expectations that government expenditure would boost earnings, besides a generic macro-recovery. Cement earnings were under pressure in FY22 and FY23 due to high raw material and fuel costs; muted demand prevented them passing on the higher cost.
The road ministry has put forward two proposals before the Prime Minister's Office and the finance ministry.
This may lead to the states' combined fiscal deficit to widen much faster, while the Centre may show a smaller or insignificant slippage in meeting its deficit target. The Centre will celebrate over its fiscal prudence, but the states would suffer, A K Bhattacharya points out.
Siddaramaiah announces free LGP gas, universal health scheme in budget
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
Capex for next year expected to be up 25% to Rs 3 lakh crore
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
In a relief to industry, the government has accepted a parliamentary panel's recommendation on allowing cartels to opt for the settlement scheme under the Competition Amendment Bill, according to official sources. The proposed Bill seeks to introduce a clause for settlement and commitment that offers any enterprise against which an inquiry has been initiated to file an application for settlement. The Parliamentary Committee on Finance had suggested including cartels in the scope for settlement "as a pragmatic recourse to the whole process".
Besides advancing the presentation of the Budget to perhaps the first week of January, , there are four new initiatives that could be rolled out from the next Budget, says A K Bhattacharya.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
Jaitley has announced increasing the super-rich surcharge to 12%.
RBI is likely to have reached broadly similar conclusions since it did cut rates, presumably to stimulate activity.
The United States Army has announced to reduce its strength by a whopping 80,000 by 2017 as part of a budget-cutting plan, making it one of the largest force reductions since World War II.
'The power sector accounts for much of the financial burden of state governments in India.'
The NITI Aayog has recommended privatisation of state-owned insurer United India Insurance Company as the government aims to move ahead with its new public sector enterprise (PSE) policy for Atmanirbhar Bharat. The policy think tank has suggested that the public sector insurer be considered for privatisation in the banking, insurance and financial services sector, which has been classified as 'strategic' in the PSE policy, said an official. The policy proposes the "bare minimum" presence of government-owned companies in strategic sectors, and privatisation, merger or closure of remaining public sector undertakings (PSUs).
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, saving precious time for critical patients. 5G technology would also support the development of new educational applications, improve agriculture productivity, and aid search and rescue missions with high resolution cameras in disaster recovery zones.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
Given the prevailing uncertainties, investors must maintain a 10-15 per cent allocation to gold in 2023.
Decoding four important provisions in the Finance Bill 2018.
'There are many options before opposition parties and this nation has a wealth of leadership.'
Budget is a populist one, wil lbeneift common people
With this, India joins 60 other countries that collect PNR details of international passengers.
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
With the first quarter gross tax mop-up reaching Rs 5.6 lakh crore, Icra Ratings on Friday said the government is set to exceed the budgeted tax collection target of Rs 22.2 lakh crore for 2021-22, led by indirect taxes. The government has budgeted a modest 9.5 per cent growth in tax collections at Rs 22.2 lakh crore for FY22, over FY21 collections of Rs 20.2 lakh crore. However, despite the second wave of the pandemic, the April-June quarter tax collections rose to Rs 5.6 lakh crore, which is 39 per cent higher than Q1 of FY20.
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