Market hopes govt will hike capital expenditure.
The decision to cut development expenditure does not bode well for safety and amenities.
Unperturbed by the rise in the fiscal deficit, Finance Minister P Chidambaram on Thursday exuded confidence that it would remain within the target of 4.8 per cent of GDP in the current financial year.
The railways have been able to project improvement in finances.
With Mamata Banerjee leaving passenger fares untouched and announcing a slew of concessions for technicians of regional film industry, cancer patients and press correspondents, railways' earnings from passenger operations may be strained further.
'If the Chinese intent is to be gauged based on its aggression in the South China Sea, greater forays in the Indian Ocean, a hawk's attitude towards Taiwan, flying its fighters repeatedly over the Senkaku islands in the East China Sea and creating strategic assets globally, there would be a requirement for strategic partnerships for India,' says Brigadier S K Chatterji (retd).
The economic growth slowed to 6.9 per cent in the second quarter against 8.4 per cent in the same period last year.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
She also took a swipe at the Bharatiya Janata Party over its defeat in the just-concluded Himachal Pradesh assembly elections, saying the ruling party's president could not hold on to his home state. "Who is the Pappu now?" she asked.
Over 60 per cent of these borrowings are slated to be mopped up in the festival season.
NSO Group, an Israeli surveillance software company, has been under increasing attack following allegations that its Pegasus phone spyware was used for surveillance on journalists, activists and political leaders in several countries including India. NSO has denied any wrongdoing.
The Union Budget seems to have elicited a starkly opposite view from rural India compared to urbanites, says Mahesh Vyas.
I am increasingly seeing young people starting 25-year-SIPs; these kids will definitely benefit from the long term effect of compounding, notes P V Subramanyam.
The sector may be overcrowded with a fair number of large players and the entry of the Adani Group through its two key acquisitions, followed by the takeover of majority stake in Sanghi Industries via Ambuja Cements. Since every major player is in expansion mode, there could be a capacity surplus and hence, price wars.
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
More services such as ATM operations are proposed to be brought within the service tax net.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
The government on Monday sought Parliament approval for gross additional expenditure of Rs 44,945 crore in the current financial year. Of this, the net cash outgo will be Rs 19,812 crore, while the rest will be met by savings of the ministries or enhanced receipts. A significant part of this additional grant would be spent on food and fertiliser subsidy.
Capex for next year expected to be up 25% to Rs 3 lakh crore
The worst of recession could coincide with the run-up to the elections.
The net direct tax collections jumped by 18 per cent to Rs 43,391 crore during the first two months of the current fiscal.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
Revenue from its IT services business rose 9 percent to $1.86 billion.
The new government may enhance the Plan expenditure for 2014-15 by around Rs 11,000 crore (Rs 110 billion) in the Budget next month, which would be about 2 per cent higher than what was provided in the previous fiscal budget.
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
Over 1.4 lakh jobs are estimated to be created between March 2019 and March 2021 in various central government departments, according to the Union Budget presented on Monday. The strength of government establishments was 32,71,113 as on March 1, 2019, which is estimated to increase to 34,14,226 by the first day of next month - an increase of 1,43,113, it said. The budget documents have given a break-up of the jobs estimated to be created in central government departments between 2019 and March 2021.
Arun Jaitley opted for a fiscal deficit of 3.9% in 2015-16.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
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