'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
With military expenditure of USD 81.4 billion (one billion=100 crore), India's spending was up by six per cent from 2021 and by 47 per cent as compared 2013.
In what is seen as a significant move, the DAP featured measures to reduce delay in procurement of essential items by the three services as it proposed a new enabling provision to acquire them through capital budget under a simplified procedure in a time-bound manner.
'We will prioritise our requirements so that the country's maritime interests are not compromised.'
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
The ruling Bharatiya Janata Party on Wednesday hailed the Union Budget as an "all-inclusive" document while the Opposition dismissed it as "anti-people" and mere rhetoric lacking the vision for creating jobs and taming inflation.
on Thursday adjourned sine die, ending the four-week-long second leg of the Budget session, during which treasury and opposition members locked horns over Rahul Gandhi's 'democracy' remark and the Adani issue.
India is one of the largest military equipment importers in the world, at over $8 billion a year.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
A united opposition is set to corner the NDA government on issues ranging from the NEET paper leak case to railway safety.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
'He consulted widely, both formally and informally and acted quickly on pragmatic suggestions.' 'To his credit, Parrikar took the initiative to reduce excessive litigation against armed forces veterans and widow over small sums of pensionary and disability benefits,' points out says Brigadier Gurmeet Kanwal (retd).
India has its share of both large tech companies and large national laboratories, but why is it that these don't seem to be at the forefront of any innovation news headlines? asks Ajit Balakrishnan.
Rs 111,294 crore has been allocated for army salaries. The Rs 113,278 crore allocated for army pensions surpasses that. Army planners are worried about this drain on funds that could otherwise go towards equipment modernisation.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
India is one of the largest defence importers.
Amid FY23 Union Budget's focus on investments, leading domestic credit rating agency Crisil on Wednesday said that the capital expenditure is "not as high as it sounds". It, however, was quick to add that considering that governments usually tend to cut capex during a crisis, the government has maintained its focus on growth-spurring initiatives amid the pandemic. The research wing of the agency said, if one excludes the Rs 1 lakh crore of loans to states for capex included in the headline figure of Rs 7.50 lakh crore or 2.91 per cent, the actual spend in FY23, will go down to 2.58 per cent of GDP, which is barely at par with the revised estimate of FY22.
Prime Minister Narendra Modi will pay a two-day working visit to the US from February 12 during which he will meet President Donald Trump, the external affairs ministry announced. The visit will give further impetus and direction to India-US bilateral relationship. Prior to his US visit, Modi will be in France from February 10-12 to co-chair the AI Action Summit with French President Emmanuel Macron. He will also visit Cadarache, the site of the International Thermonuclear Experimental Reactor of which India is a partner. During his visit to France from February 10-12, Modi and Macron will also address the India-France CEOs forum. The prime minister and Macron will travel to Marseille where they will inaugurate the Consulate General of India. The leaders will also visit the war cemetery and pay tribute to the sacrifices made by Indian soldiers in World War 1. Modi and Macron will visit Cadarache, the site of the International Thermonuclear Experimental Reactor (ITER). There has been a very close rapport between Trump and Modi, dating back to the US leader's first term. There is a clear convergence of interests between the two countries in several areas, including trade, investment, technology, defense cooperation, counterterrorism, Indo-Pacific security, and people-to-people relations.
India's doctrinal policy shift in combating terror by carrying out the Balakot air strikes inside Pakistan, appointment of a Chief of Defence Staff and hastening work on military modernisation marked a new beginning in 2019 in dealing with complex security challenges.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
Everybody talks of China as the real threat, but we aren't even building a decisive capability against Pakistan, asserts Shekhar Gupta.
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
Now, the NDAA needs to be passed by the Senate before it can be sent to the White House for the US President Donald Trump to sign into law.
Delhi's crime rate against women stood at 144.4 in 2022 -- the highest among all states and Union Territories.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
