Sources close to the PM say he will not be panicked into generating short-term results at the cost of longer-term goals
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs). The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index. With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
So far, 758 million Aadhaar numbers have been generated.
The agenda for the year 2020 is well laid out -- launch of UDAY 2.0, installation of smart pre-paid metres, prompt payment by discoms, making coal available for short term and reviving gas based plants. But, it has to ensure effective implementation of various policy tweaks done so far.
'The Modi visit will prove to be the watershed where India and the United States commenced technology trade and transfer.'
Finance ministry asks bank, insurance & market regulators to issue notifications
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
Venkaiah Naidu said Aadhaar will not be made mandatory till the entire population gets such cards or UID numbers.
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
The Supreme Court Friday granted the 'last opportunity' to the Centre to file its reply on a public interest litigation seeking directions for framing of guidelines identifying minorities at the state level as Hindus are in a minority in 10 states and are not able to avail the benefits of schemes meant for minorities.
It asked the Centre to keep allocating food grains to the states, UTs for distribution among migrant workers for free till the pandemic situation exists.
The Indian basket represents the price of Oman and Dubai sour grade crude.
Amendments to RBI Act likely soon
In a setback to former deputy chief minister Manish Sisodia, the Supreme Court on Monday denied him bail in the corruption and money laundering cases related to the alleged Delhi excise policy scam, saying the accusation of "windfall gains" of Rs 338 crore to wholesale liquor dealers was "tentatively supported" by evidence.
Delays in returning money for disputed transactions have also come under RBI's scanner.
'You can presume that Modi and his party will now focus on the economy.' 'But then, there is the Jharkhand election next month, Delhi soon thereafter and so on.' 'And this isn't a political leadership that takes even a panchayat election lightly,' notes Shekhar Gupta.
The top court said it is not satisfied with the efforts of the Centre as well as the states on the issue of registration of workers in unorganised sectors.
Declining crude price translates into lower under-recoveries for OMCs
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
'Anyone can string together a few alliterative words, but are they a substitute for serious thought?' 'And do they make for a strategy or plan for coherent action?' asks T N Ninan.
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
'You need a leader whom India can identify with and I cannot think of any other leader except Sachin Pilot in the Congress party.'
Going ahead with its "game changer" measure for next Lok Sabha polls, the Congress on Tuesday rolled out the ambitious food security scheme in three states -- Delhi, Haryana and Uttarakhand with party President Sonia Gandhi hailing the measure as "historic" and "unparalleled".
The DoP has moved a Cabinet note for the government to provide Rs 500 crore (Rs 5 billion) as initial capital to India Post towards starting a bank.
The government is being pushed by Congress president Sonia Gandhi to put the food bill on fast track as the Congress had promised a 'right to food' in its 2009 election manifesto, reports Anita Katyal
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
These conditions are implementation of the 'One Nation, One Ration Card' scheme, ease of doing business, power sector reforms, and urban local body reforms.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
'Gruha Lakshmi Yojana' is an attempt of the Congress party to share the 'burden of the exorbitant' LPG prices and the 'costly daily expenses' that a woman has to bear, the party said.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
Singh said in his plea before the high court that Deshmukh held meetings at his residence with several Mumbai police officials, including Waze, in February this year.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
'Both the BJP and SP have workers and cadres across the state, and now it will boil down to which party manages booths smartly and gets its voters to come out.'
