Going a step ahead, the state government has suggested laying of very fast tracks to facilitate a speed of up to 350 kmph in the public-private partnership.
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes 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.
Top Congress sources said they would not hold up the Bill.
The world's largest cash transfer programme has eliminated around 40 million ghost connections
North Block and Mint Road seem likely to now stick to the earlier convention of the RBI governor coming to Delhi and being the only MPC member meeting the finance minister and senior bureaucrats on pre-policy meetings
Cash withdrawal limits likely to continue
The 66-year-old finance minister underwent a successful kidney transplant surgery in mid-May and was on leave since April due to kidney-related problems and chest infection.
Officials say telco still keen on process.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
The shift was sudden, quite unlike Shukla's departure from North Block, which had been anticipated for some months even before Singh''s first Budget.
New head of the Confederation of Indian Industry speaks.
Letter to corporate affairs ministry cites slowing economy, capital challenges.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
Credible fiscal consolidation has been a consistent pre-condition to easing the monetary policy stance as far as the RBI is concerned.
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
The list is of companies declared sick as on March 31, 2014.
Instead, 2019-20 could be the base from which the Budget estimates for next year are calculated.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Short-term capital gains tax of 30% is likely to be levied if bitcoin is held for less than three years and 20% if held for longer than 36 months.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe
Chidambaram said there was no tension between the finance ministry and the Reserve Bank of India.
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.
Experts say it will make GDP growth target of 5.7-5.8% difficult to achieve, while ministries feel late resurgence will help in sowing of rabi crops.
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
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.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Credibility of fiscal promises is a virtue that no finance minister can afford to lose.
Govt expects to save Rs 10,000 crore through this move.
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