'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
Watchdogs of the economy have not been barking and it is high time we noticed it, says Shreekant Sambrani.
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
Growth numbers for the large players in the sector, though, improved during the quarter.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
He is not good at thinking through laws and policies. His lockdown produced chaos and misery and didn't stop Covid. His GST finished off thousands of companies and reduced the amount of tax government collects to such an extent that he cannot pay state governments any more, observes Aakar Patel.
Indications are that Modi will have words of encouragement for Stalin, and the meeting is likely to be much less acrimonious than critics of either would want it to be. notes N Sathiya Moorthy.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
Investors must be prepared to believe that things will get better eventually, no matter how bad the current situation may look. If you don't possess this optimism, you will not possess the courage to invest and if you don't invest, you don't give yourself any chance to get wealthy, says Devangshu Datta.
Maharashtra has the opportunity to solve all these problems by voting for the Congress and NCP, he said.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
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.
A combination of demonetisation, a poorly and hurriedly implemented GST, and more recently the "botched up" lockdown of the economy to control the spread of Covid has brought the economy to its knees.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
Prime Minister Narendra Modi on Saturday said the target date for achieving 20 per cent ethanol-blending with petrol has been advanced by five years to 2025 to cut pollution and reduce import dependence.
Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
The industry hoped that the new government would keep the excise duty rates at the existing level to help the sector come out from a prolonged demand slump.
India's tennis players -- both current and former -- are not just counting financial losses as they cope with the fallout of the coronavirus pandemic. The closure of the Pro Tour means that doubles exponent Purav Raja is set to lose at least $50,000 in this lockdown period, according to his own assessment. Prajnesh Gunneswaran, Jeevan Nedunchezhiyan and Divij Sharan can't exactly tell how much they would lose but considering the fact that they are consistently in contention to be in Grand Slam main draws, the massive financial hit is not difficult to assess.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
Broadly stagnant sales causes the first drop in business activity in over a year.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
'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.'
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
Its governing allies are not happy on the economy and complain of ignored concerns but find themselves unable to be assertive.
The move by these broadcasters comes close on the heels of the Telecom Regulatory Authority of India announcing a review of its earlier tariff order, announced six months ago, which among others capped the prices for la carte channels.
With the negative impact of demonetisation waning and the implementation of the GST, 80% of the CEOs surveyed said they were planning to hire more people in 2018
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.
Addressing the nation for the fourth time since he took office in 2014, the prime minister called upon the citizens to perform their duties towards the nation and co-operate to work towards a common goal of peace, harmony and development in the country.
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