'When you watch Freedom At Midnight, I want you to feel like you are sitting on a ticking time bomb.'
Adnan Abidi/Reuters captures men at work in the streets of a wholesale market in old Delhi days before the Narendra Damodardas Modi government presents its final Budget, ahead of India's general election.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
The decision has been taken following requests made in this regard by market participants as Budget contains several market-moving announcements.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
For now, Modi's government appears singularly focussed on demonstrating that it is not in any way inhibited by the BJP's loss of a majority, and will continue along its patented path of bulldozing all opposition and doing just as it likes, asserts Prem Panicker.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
The Parliament premises will sport a new look when the 18th Lok Sabha convenes for its maiden session in June as work is underway to integrate the entire complex, comprising four different buildings.
India's tactical and operational response demonstrated its ability to prosecute tri-service operations, even without a formal tri-service doctrine or the higher command structure needed to coordinate it, points out Ajai Shukla.
Just over a three-hour flight from Delhi, Kazakhstan, Uzbekistan, Azerbaijan and Georgia have seen a big jump in visitors.
The government will come out with a White Paper on the mismanagement of economy prior to 2014 with an aim to draw lessons.
India's defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players - Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) - with a 'buy' rating. The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
'Ladakh has become a hollow UT.' 'Bureaucrats from Delhi rule Ladakh and there is no attention paid to the grievances of the people.'
'The standing committee on defence was flagging what the services had said.' 'As a soldier, General Khanduri might have felt that it was his duty to point this out in the greater good of India,' points out Aditi Phadnis.
Jaitley began his speech by saying that today is the auspicious day of Basant Panjami and that "spring is the season of optimism".
There are four public sector general insurance companies.
It is important to increase employment in general. It is even better to increase good quality jobs. Strategically, it is important to move people from farms to factories to improve overall labour productivity. It is important to improve job opportunities for women, for urbanites and for the educated. The Budget does not contain ideas to do any of this, points out Mahesh Vyas.
The ministry had spent 82 per cent of that amount till the start of this month.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
That he hasn't done so yet, has continued to be active on the political street, in public debate and on social media, signals an important change. It will give his party hope. Maybe the achievement of reducing Mr Modi well below the majority mark will now motivate him to stay committed, observes Shekhar Gupta
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
Sunak, 44, was facing the impossible challenge of overcoming voter anger against the incumbent Tories after 14 years in power. The 61-year-old Keir Starmer-led Labour Party, meanwhile, maintained a strong lead over the Tories throughout the six-week campaign.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
The biggest focus area turned out to be 'investment'.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Leader of the Opposition in the Lok Sabha Rahul Gandhi asserted that the Congress will protect the Constitution and the reservation system at all costs and foil "conspiracies" of the Bharatiya Janata Party.
Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Navendu Mishra (Stockport) and Nadia Whittome (Nottingham East) were among the other Labour MPs re-elected with convincing majorities.
...to fund the revenue gap. Of the gross market borrowing of Rs 14.13 trillion estimated for FY25, Rs 7.5 trillion, or 53 per cent, is planned to be borrowed in the first half.
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
The row over the appointment of Bharatiya Janata Party leader and seven-term member Bhartruhari Mahtab as the pro-tem speaker is likely to cast a shadow over the session.
