In an accompanying vision statement, the former finance minister highlighted his track record of serving in the Cabinet, helping to steer the economy through the toughest of times with the COVID pandemic.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
The octogenarian, who has already announced his retirement from electoral politics, is sought to be put on the pedestal by the governing party's central leaders.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Congress general secretary and chief spokesperson Randeep Surjewala claimed a clear message has come from the House today that if people want relief from 'severe unemployment, extreme inflation, falling incomes and extreme poverty', then the Bharatiya Janata Party 'will have to be defeated' in the elections.
Vice Chairman Harivansh regretted that 78 hours of business were lost due to disruptions and that the House functioned for only 27 hours.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
The amendment of around 40 central statutes makes the Finance Bill, 2017 unique
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
The Congress and other opposition parties have accused the police of bias and inaction in the Delhi violence.
The Congress and the Bharatiya Janata Party-led National Democratic Alliance were ranged against each other both inside and outside the Parliament on the opening day of the budget session on Monday.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
NDA government has shunned populism.
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
Usually, the chair in the Upper House reads out obituary references before members rise as a mark of respect to the memory of the departed.
The government has provided a long-term vision.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
'I think there must be some sort of a nexus between the rioters and a section of police officials which resulted in gruesome killings and arson'
Sri Lanka's new Finance Minister Ali Sabry on Tuesday resigned, a day after President Gotabaya Rajapaksa appointed him after sacking his brother Basil Rajapaksa amidst the island nation's worst economic crisis.
A question asked in Tamil triggered heated exchanges in Lok Sabha on Wednesday between the Opposition and Treasury benches that spilled over to the issue of ministers giving replies in Hindi.
The government on Thursday said it will respond on the issue of Shiv Sena MPs force-feeding a fasting Muslim after ascertaining full facts by Friday.
West Bengal Chief Minister Mamata Banerjee on Monday termed the hike in rail fares as "unprecedented and anti-people" and demanded its roll back in the interest of common people.
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
'Why should Khargeji work against the Gandhis for the sake of proving his independence?'
Jaitley's endorsement of Upadhyaya doesn't come as a surprise, for the latter has been the source of ideological guidance and moral inspiration for the BJP since its inception.
With his surprise sabbatical "for a few weeks" sparking speculations, the Congress on Monday jumped in to damage control asserting that Rahul Gandhi will actively take part in all party processes after he comes back from the leave in near future.
Trivedi's resignation came amidst the exodus from Mamata Banerjee's party ahead of the West Bengal assembly poll.
The disengagement process between India and China in eastern Ladakh is in final stages and on the brink of completion, top officials of the country's defence establishment on Thursday told a parliamentary panel during a meeting, which sources said turned 'stormy' amid several questions asked by opposition members including Congress leader Rahul Gandhi.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
The government will give a final shape to its proposed flagship scheme on developing '100 smart cities' next month.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
Successive plans have allocated less resources to the Railways.
CAG recommended fixing a definite time frame for rolling out simplified GST return forms.
Not all change is good, but this one is, applauds Shekhar Gupta.
Finance Minister Nirmala Sitharaman on Tuesday said the interest of all employees of state-owned banks which are likely to be privatised will be protected, even as bank unions observed a two-day strike against the government's privatisation decision. Replying to a query during a press conference, she clarified that public sector presence will continue in the banking space. "...we have announced public enterprise policy based on which we have identified those four areas in which we said government presence, public sector presence will be there, and bare minimum presence is what we have said, in that financial institutions are also there. "Meaning, even in financial sector we will still have the presence of public sector enterprise...not all of them are going to be privatised," she said.
An MP's is a full-time job, so is the BCCI president's. How can Anurag Thakur do justice to both, asks Sudhir Bisht.
He said last-minute decisions by the Narendra Modi government with an eye on polls will not be helpful in swaying the mood of the electorates.
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