One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore.
The bigger worry is that its effects could linger well into the next financial year.
Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
The Centre had set up a Commission under former Reserve Bank of India Governor Bimal Jalan to suggest steps to rationalise subsidy and help the government in effectively bringing down the fiscal deficit.
There are many collateral advantages of taking the tough decision.
Private sector firms need to be re-engaged for better infra planning.
Arun Jaitley had a tough fiscal hill to climb.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
A government that confuses PowerPoints for policy is delaying structural change too much.
If oil prices rise, the government would face an uncomfortable political decision.
India's foremost architect and town planner was renowned as much for his 'breathing' spaces as for his irascible personality
Union Budget had projected the fiscal deficit at Rs 5.56 lakh crore.
Economists expect Modi to announce big-bang reforms.
The Budget sets out a comprehensive vision.
The government has at last commenced important structural reforms.
As for structural reform, there are signs if one looks hard enough.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
Enhanced revenue generation is a priority for the government.
India will have to devise policies to ensure overall growth in FY16.
2015 is set for a lot of changes - and some that we would like to happen
Modi government has to come up with a robust economic agenda to impress the masses.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Ten trade unions to go on strike to protest against changes in labour laws
'When he first came to office, my belief is that the PM's reading of the landscape was that, with a vanquished Congress and fragmented Opposition, he was looking at least at two terms in office. This reading perhaps allows for a more cautious, gradual approach.' 'It was only a matter of time before the government was forced to come face-to-face with a serious corruption scandal. This is not a commentary on the BJP, but a statement about India's political economy.' 'There is growing concern about the government's commitment to freedom of expression, religious tolerance, and an independent civil society. Thus far, the positive movement on strategic and economic matters has crowded out these concerns, but they are lingering beneath the surface.'
Finance Minister Arun Jaitley presented the Union Budget.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
Single window clearances for realty must.
Indian economy about to take-off
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