'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.
Finance Minister Arun Jaitley accused Congress of setting a wrong precedence for future opposition parties by continuously disrupting Parliament.
'The estimates of tax forgone on this item run into hundreds of billions.' 'And there is neither fairness nor rationality to support continuing with this tax holiday for just one class of investors, those who put their money in shares,' says T N Ninan.
The government on Friday lowered its economic growth forecast.
Even in this darkest hour of a crumbling economy and raging disease, there is hardly a murmur of protest against the government, observes Sumit Bhattacharya.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
The industry's reactions to the Budget have been mixed.
As the Narendra Modi government nears completing a year in office, the Congress on Wednesday stepped up its offensive against the prime minister accusing him of weakening democracy by running a "one-man show" while scoring maximum on "arrogance" and minimum on governance.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
The Rajya Sabha approved 15 legislations during the session while the Lok Sabha passed 23 bills, including the GST bills.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
Measures may include tax slab and rate revisions for individuals, companies.
'Our government has created 10 million jobs when the Indian unemployment rate is at a 45-year high.'
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
'This prime minister thinks he knows everything.' 'He has to consult, he has to talk and he has to mobilise the best people, but having seen him function, I have no expectations from him.'
This Budget plans for an increase to 10.3% of GDP from 9.9%.
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
'Our prime minister has set a scorching pace. He's logged more airline miles than professional airline pilots... On his regular visits to Delhi, he has also signed files galore.' 'How much of this activity has translated into useful action on the ground,' asks Devangshu Datta.
'The babus in Delhi are not able to understand the pain industry is facing.'
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
'Day by day, the queues will shorten.'
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
The previous high in quarterly GDP growth was recorded in the January-March quarter of 2015-16 at 9.3 per cent.
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.
Experts hail Budget 2015 as a progressive, growth oriented one.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
This is part of the government's move to improve infrastructure.
He promised a complete loan waiver to farmers as soon as the Congress formed government in the state.
ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
PM has been regularly seeking people's inputs through mygov.in and his app, to assess the mood of the nation.
Sensex rises, snapping two-session losing streak; banks, auto gain.
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