Concerned over surging prices, Finance Minister P Chidambaram said on Friday the government will not hesitate to take more fiscal and monetary measures to contain inflation.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
A K Bhattacharya wonders if Kisan Baburao Hazare get his timing wrong, or is Finance Minister Pranab Mukherjee trying hard to get his timing right?
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The video conference, which began at 11 am, comes amid indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.
'So far, no government has imposed a financial emergency in the country,' notes A K Bhattacharya.
There's no silver bullet to get rid of poverty, says Alok Sheel.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
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Economic Affairs Secretary Arvind Mayaram said India had brought its fiscal deficit down more sharply and quickly than any other country, but managing the current account deficit was more complicated because the government had less control of it.
The finance minister has increased the quantum of rural credit, with particular emphasis on short-term crop loans for small farmers and focussed heavily on improving food storage and processing infrastructure as well as supply chain management.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
The Reserve Bank of India on Thursday warned of difficult days ahead, saying inflation will remain at elevated levels for some more time while the economic growth rate will moderate in the current fiscal.pp
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
'I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis'
"Despite subdued growth in the world economy, India has maintained a GDP growth rate of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16 and 7.1 per cent during April to September of 2016-17," the commerce and industry minister said in a written reply during Question Hour in the Lok Sabha.
Shifting to a PPP model could repeat the errors of the past
Out of the 24 IPOs, 20 companies had anchor investors, which collectively subscribed to 31 per cent of the total public issue amount.
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
Economic Affairs Secretary R Gopalan indicated the government's finances could go awry if there was a bad monsoon and global crude prices continued to remain high. He said these two factors would play a key role in determining the fiscal deficit.
The company's staff strength fell by 704 workers during the fiscal year ended March 31, 2011, and stood at 22,661 employees.
'The lessons learnt from the triple disaster have put Japan's energy future On the right path,' notes Dr Rajaram Panda.
The central bank is widely expected to increase the repo rate by 25 basis points on Tuesday to 7.75 per cent to fight inflation even as it continues to unwind its rupee defense steps, a Reuters poll showed.
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
The divergence shows lack of financial depth in the Indian stock markets.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
"We are investing in India... We've already launched an app accelerator centre. That's on top of working with the channel and looking at expanding our go-to-market in general," Cook said during the company's third quarter earnings call on Tuesday.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
The world, he said, needs to move towards a transparent and flexible market for both oil and gas.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
Since end-May there has been volatility in the foreign exchange market.
While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
The world seems to have caught severe pneumonia, or worse, as China had flu.
The Greek debt crisis shows clearly that if the eurozone is to come out of this crisis relatively unscathed, it needs a full-time fiscal-monitoring and crisis-resolution mechanism.
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