The Supreme Court had observed that issues of national economic interest; disclosure of information regarding currency or exchange rates/interest rates/ taxes; regulation or supervision of banking, insurance and other financial institutions; proposals for expenditure or borrowing, and foreign investments, could all, in some cases, harm the national economy, especially if released prematurely.
The Reserve Bank of India's observation that developmental expenditure in better-off states like Gujarat, Maharashtra and Goa is declining as a percentage of gross state domestic product (GSDP), whereas such expenditure is rising in underdeveloped states like Bihar and Jharkhand, has invited criticism from analysts.
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
The Economic Survey states that the rationalisation and reprioritisation of subsidies through better targeting would play a vital role in fiscal consolidation and in targeting expenditure more towards inclusive development.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
The question we must ask is how do politicians get that wealth disclosed in the affidavits, says Mahesh Vijapurkar.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
The Government of India amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters directly or indirectly related thereto including national security, an official statement said.
Will the EC would make an example of the RK Nagar by-election, either by ensuring free and fair polls or by countermanding the same, asks N Sathiya Moorthy.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
China, the Ukraine crisis and Quad will dominate the discussions, observes Dr Rajaram Panda.
The bank is using readily available satellite images from ISRO and NASA for the purpose, and plans to scale up to 63,000 villages in the next three months.
Calling the political condition prevailing in West Bengal "horrible and frightening", Governor Jagdeep Dhankhar alleged on Tuesday that the people of the state do not have the freedom to exercise their franchise fearlessly.
The plea said there should be a total ban on such populist measures to gain undue political favour from voters as they violate the Constitution and the ECI should take suitable deterrent measures.
NCAER said the monetary policy measures are unlikely to revive growth at this juncture and suggested providing fiscal stimulus, which too can be challenging unless it can be financed through better revenue generation.
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
As demand slows down, companies would rather consolidate operations than go for aggressive capital expenditure.
RE of GDP for 2015-16 show that the economy grew 7.9% in 2015-16, rather than the earlier estimate of 7.6 per cent.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
Sical Logistics' board of directors, which met to consider approval of the June quarter financial results, asked the management to come out with recommendations for the same.
High regulatory expectations and advent of discount broking have made old-style brokerage businesses unviable.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
Government auditor CAG has expressed concern over the post of chairperson of Cyber Appellate Tribunal lying vacant for about five years, saying this has led to not a single case being heard or disposed of despite pending appeals.
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
Situated at a height of 15,200 feet above sea level, the pass sits on the top of a craggily formed Himalayan range that separates the Tibetan plateau from the Indian sub-continent.
'The government has said it has kept its powder dry to fight the true battle against the debilitating influence of the pandemic.' 'The release of the shocking economic data this week should act as the fuse for using that powder now.' 'Further delays will make the battle that much harder,' notes Shreekant Sambrani.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
All set for more public interactions even as PM has been critical of the apex auditor recently.
India should take 'measured approach' with stimulus packages to deal with COVID-19 by limiting interventions to the provision of food, shelter and basic necessities of life for all; forbearance on payments of outstanding loans; and extra provision of working capital including what will be necessary to cover outstanding wages from lockdown period to enterprises.
China is the second largest spender on defence after the US. T
Ban on purchase of vehicles, except for defence, continues.
Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
'Aggressively stepping up vaccinations will constitute the most enduring stimulus of all in the coming quarters,' observes Sajjid Z Chinoy, Chief India Economist at J P Morgan.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
The Election Commission has examined the menace of "paid news" that was rampant during the last Lok Sabha elections and decided to include the cost of such news in the expenditure of candidates to check if they exceed the ceiling on expenditure by resorting to "paid news" instead of issuing advertisements
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Pakistan's close ties with China and its lack of democracy and disregard for human rights will not be overlooked, said Haqqani, who currently is a Senior Fellow at the Hudson Institute think-tank in Washington.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
