The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Prime Minister Modi highlighted the importance of public participation in a democracy and said that the definition of democracy could not be restricted only to elections and the governments.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
The raging row over nationalism was at the centre of Bharatiya Janata Party chief Amit Shah's inaugural address at the party's national executive meeting on Saturday as he asserted that it will not tolerate criticism against the country and that freedom of expression cannot be a plea for shouting anti-national slogans.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
'It is entering growth territory on a month-on-month basis.'
The output of eight core sectors grew 8.9 per cent in June, mainly due to a low base effect and uptick in production of natural gas, steel, coal and electricity, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 12.4 per cent in June 2020 due to the lockdown restrictions imposed to control the spread of coronavirus infections. In May this year, these key sectors had recorded a growth of 16.3 per cent, while it was 60.9 per cent in April.
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
The Maharashtra CM said he doesn't think the Centre has a plan on settlement of Hindu immigrant from other countries.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
WGC expects demand to revive in H2 on surplus monsoon rains
The credibility of India in the eyes of foreign investors has also relatively gone up, with China's blunders in this crisis.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
This weakness is likely to continue in the near-term.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement. It can be noted that after the 7.3 per cent contraction in 2020-21, there were expectations of a higher growth number in 2021-22.
Business activity has fallen by a fourth of the pre-COVID levels due to lockdowns imposed by states to contain the spread of the second wave of COVID-19, Japanese brokerage Nomura said on Tuesday. However, it said the falling activity levels will have a muted economic impact and maintained its growth estimates for the year, saying the lockdowns present "downside risks". As of April 25, the Nomura India Business Resumption Index (NIBRI) registered its steepest weekly fall in over a year of 8.5 percentage points to 75.9, which is 24 percentage points below pre-pandemic normal, the brokerage said in a statement.
Markets crashed due to domestic worries; bluechip stocks tanked too.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Sibal said the BJP always tries to gain a foothold in states where its presence is limited and afterwards "dumps" its allies.
India is not so worried about meeting fiscal deficit target.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
We are all 'Chasing the Monsoon', notes Ajit Balakishnan.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
Mamata Banerjee said availability of land won't be a problem in Bengal as the state government has a land bank.
The government last year introduced the Insolvency and Bankruptcy Code.
Govt is keen to push reforms in the insurance sector.
The proceedings of the House were almost washed out as it could not take up any legislative business.
The session, which will continue till August 11, is likely to discuss issues like lynching incidents and vigilantism, the Kashmir situation and the border stand-off with China.
Addressing a meeting of AICC general secretaries and state-incharges which she presided over, Gandhi also alleged that the country was being ruled by a government which was "systematically" handing over the rights of citizens to a handful of crony capitalists.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
'I don't know how long the small-scale handmade sector can survive,' a shoemaker from Hisar tells Geetanjali Krishna.
The Sensex and the Nifty witnessed biggest one day loss in percentage terms since June 24
There are a few factors that can spoil the party
The S&P BSE Sensex surged 217 points to end at 25,736.
