Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
This will, of course, go a long way in meeting the promised fiscal deficit target of 3.6 per cent of GDP in 2015-16.
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
While other states are becoming competitive, Gujarat, say experts is not paying enough attention to maintaining its own position in terms of business reforms.
The co-chairs of the US-India CEO Forum have stressed the need to continue 'liberalisation' of economic policies between the two countries, saying it is 'critical' for building a strong business cooperation.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
China's economy is in transition, with rising wage costs and massive overcapacity.
'What can be applicable in Manipur may not make sense in Bengal'
The outcome may determine whether Macron's centrist coalition retains power or if France faces a period of political cohabitation with the far-right National Rally, led by Marine Le Pen.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Banerjee along with other regional leaders are likely to play an important role in any future government in New Delhi, so it is in India's interest that regional leaders like herself realise the importance of progressive economics and good governance, says Tridivesh Singh Maini.
India has emerged as one of the top three choices for investments in the next 2-3 years, with more than two-thirds of respondents in a survey of multinational companies (MNCs) citing the country as their number one choice for future investments. According to the FDI survey released on Tuesday by CII in association with EY, about half of the respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.
More and more states are organising investor summits, Jaitley said.
Foreign direct investment (FDI) in India grew 40 per cent to USD 51.47 billion during April-December 2020-21, according to government data released on Thursday.
In the first phase of the Lok Sabha polls, there were 135 women candidates while in the second phase, there were 100 women candidates, bringing the combined total for the first two phases to 235 women candidates.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
The prime minister's economic advisory council was disbanded early on, and not reconstituted.
Photos circulating in social media on Thursday showed two banners hung on an overpass of a major thoroughfare in the northwest of the Chinese capital, protesting against Xi's unpopular zero-COVID policy and authoritarian rule.
It will bear fruit in the next five years, which is why FDI is so strong. The foreigners clearly know what Indians don't, asserts T C A Srinivasa-Raghavan.
Benchmark equity indices Sensex and Nifty declined nearly 1 per cent on Wednesday, falling for the fourth day running amid profit-taking by cautious investors ahead of the results of the Lok Sabha polls. The 30-share BSE Sensex declined 667.55 points or 0.89 per cent to settle at 74,502.90. It went below the 75,000 mark to hit the day's low of 74,454.55, plunging 715.9 points or 0.95 per cent.
Finance Minister pegs 2011-12 growth at 8.6 per cent, expects inflation to fall to 6-7 per cent by end of the financial year.
Government incentives to grow rice and wheat as part of a subsidised food programme for the poor also keep prices high.
Inclusiveness is not just about poverty reduction, it is much more than that
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Prime Minister Narendra Modi on Tuesday said the people have given his government a mandate for stability and continuity for the third consecutive term after seeing its work of 10 years and accused the Congress of trying to build a narrative that it has defeated the Bharatiya Janata Party-led National Democratic Alliance in the Lok Sabha polls.
The Union Cabinet on Wednesday night is understood to have cleared the agenda for action initiated by the Planning Commission to spur economic reforms in the current fiscal.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
Today even those who support Prime Minister Modi feel there is a certain sense of listlessness in this government. What is it intending to achieve? This is not easy to say, notes Aakar Patel.
What is most troubling is that not a single party that is part of INDIA has talked about any kind of reform and economic sense, argues R Jagannathan.
As far as possible, investment in the agriculture sector must be from the government, and not the private sector, states Santushti Raj Thapar.
"The 2017 state election results in India demonstrate broad-based popular support for the Indian government's policy agenda and will facilitate the implementation of further reforms, a credit positive for the sovereign," Moody's said in a statement.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
