Only three percent of Indians pay income tax; our tax-GDP ratio is among the lowest in the world. This must change. Our elites must realise that India's poverty has damaging consequences for them, and that they can help decrease it. The food security bill, with all its limitations, will hopefully contribute to generating such awareness, says Praful Bidwai.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
The decision to not attend the forum attended by 28 heads of state and 130 national delegations is a clear break from its usual policy of going along with the crowd.
Running a SIP plan for more than six years almost completely eliminates the chances of earning negative returns.
China has been keeping tabs on the restive Tibet province through a 'grid' system and some 600 'convenience police posts' armed with high-tech equipment that monitor the daily life of the citizens of Lhasa and other Tibetan towns. Worse, 'volunteer security groups' known as 'Red Armband Patrols' are roaming around in order to get more information and 'classify' each and every citizen, says Claude Arpi
"There will be no discrimination in name of caste, religion and sex. There will be overall development," Adityanath said in his address at the Maharana Pratap Inter College in Gorakhpur, his parliamentary constituency.
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
With GDP down by 2 per cent, while 99 per cent of banned notes make way back to the banking system, whom did demonetisation benefit?
Modi isn't going to voters on his track record but on the fear of the terrorist across the border and the Muslims within. It's a battle on his terms, says Shekhar Gupta.
Chances of staying true to your goals tend to be high when you don't lose sight of what you set out to achieve, advises Arun Thukral, MD & CEO, Axis Securities.
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
The workers who were hired straight out of school as unskilled labourers are now struggling to find alternative employment because they lack skills.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
Boosting trade and simplifying visa regime, apart from security and defence cooperation, were among the key bilateral issues. The two leaders also discussed regional and international matters of mutual interest.
The patience, discipline, and resolve displayed by 125 crore Indians, will play a critical role in shaping the future of the nation for years to come, the PM said.
In an online chat with readers on August 10, Vidya Bala, Vidya Bala, head of mutual fund research at FundsIndia, answered their queries. For hose who missed the chat, here is the transcript.
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
The National Democratic Alliance government has adopted half measures instead of moving decisively on defence.
Upon implementation of the 7th Pay Commission the expected yearly burden on the central exchequer will be more than Rs 100,000 crore. Central government employees will get on an average a 24 per cent pay hike. Still, the unions aren't happy.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Tax incentives to have cascading effect on the capital goods industry.
Re-instatement of 5% custom duty on crude imports will help.
The government has taken a number of steps to address the situation faced by farmers.
Fund managers weren't too worried in 2014, as it was a year of positive surprises.
In the absence of the over-arching 'Jaya charisma', EPS has to convince the AIADMK's traditional constituencies, including those in his western districts, that his leadership would stand up against the BJP-led Centre even in a post-poll scenario, a la Jayalalithaa, and would not yield as much as party founder MGR had done, says N Sathiya Moorthy.
Parekh said divestment can unlock huge funds.
'Under the present Defence Procurement Procedure, it would have been a nightmare, and a long, long one at that, to build 108 Rafales in India. Modi realised this and took the wise decision, though it is a definitive setback for his Make in India scheme.'
Prime Minister Narendra Modi, who recently completed one year in office, has, in an exclusive interview with Smita Prakash, editor, ANI, said the opposition alleging that his government is a "suit boot ki sarkar" is definitely better and more acceptable than being labelled a "suitcase" (ki sarkar), and satirically added, that after ruling for sixty years, the Congress has suddenly remembered the poor.
The industry status will help the sector access bank lending at average interest rates
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
The Economic Survey was tabled in the Parliament on Friday.
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
There are some advantages of a falling rupee.
Sri Lanka's signals -- that it is ready for 'joint fishing' initiatives -- and Tamil Nadu fishermen's sticking to commitments have paved the way for a negotiated settlement on a long festering issue, says N Sathiya Moorthy
The full transcript of the exclusive interview with Prime Minister Narendra Modi.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
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