Measures may include tax slab and rate revisions for individuals, companies.
'The CEA suggested that could be as high as 19 per cent.'
Banks should neither be timid nor adventurous while lending as the loans of today should not become NPAs of tomorrow, he said.
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
President Pranab Mukherjee addressed a joint session of Parliament ahead of the budget session which began on Tuesday. Here are the highlights of President Pranab Mukherjee's speech:
India has just had one of the worst quarters in export earnings.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
While okra was being sold for Rs 100-120 a kg and cauliflower for Rs 120-140 a kg in Mumbai and its suburbs, all other vegetable prices have increased by almost 100 per cent since July 20.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
The Centre has projected reining in its fiscal deficit at 3.3 per cent of GDP in FY19.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
The government has provided a long-term vision.
'The BJP certainly has an edge as the BJP has gone ahead of the Congress in pleasing the trading community.'
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
This is good news for the central government at a time when crude oil prices are rising.
India is the second largest buyer of Iranian crude, after China.
'The Constitution must reflect the reality of mature states because otherwise it is the Centre that will become irrelevant,' says T C A Srinivasa-Raghavan.
De-scaling of businesses, job losses and subsequent impact on disposable incomes has created negative sentiment among traders, business owners and workers alike, says Abhishek Waghmare.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
Taxation and intellectual property rights issue are some basic starting point impediments for US businesses in India, a top Indian-American CEO said on Monday.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
From opposing the NPR and NRC to demanding special status for Bihar to staying out of the Union Cabinet on principle to showing the BJP who was boss in Bihar, Nitish Kumar has wasted no opportunity at cocking a snook at the BJP leadership. But how long can he continue, asks Gopal Krishna.
He alleged that the people of Madhya Pradesh were 'befooled' by the saffron party as there was no council of ministers or a health or home minister in place in the state amid the crisis due to the coronavirus outbreak.
'We are going to have a recession this year, maybe next year too...'
Roland Folger has told the ministries concerned that they are cutting India off from the rest of the world by making it a highly protected market, the Mercedes Benz India CEO & MD tells Ajay Modi.
'Modi has given India its 'lost half-decade'. Elect him again and by 2024 it will be a lost decade'
Modi said that the Rajya Sabha gives an opportunity to those away from electoral politics to contribute to the country and its development.
It was not immediately known if Modi acceded to Jaitley's request.
The government has already embarked on strengthening the tax net by sending letters to those who have not filed tax returns.
In an interview with Rediff.com Puducherry CM spoke about his plans for the state, Rahul Gandhi and his daily friction with the lieutenant governor.
Export sectors that showed positive growth last month included chemical, iron ore, electronics, marine products and pharmaceuticals. Decline in overall imports, including oil and gold, led to narrowing of trade deficit.
The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.
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