In the coming assembly election, negotiations over seat-sharing will be as important as actual outreach to voters.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
The general election could be held sometime after the passage of the federal budget, Gilani indicated during an interaction with Pakistani journalists on Sunday night following his return from Davos, Switzerland, where he attended the World Economic Forum.
The preparations for the next Budget have already started.
Addressing the Manipur assembly during the commencement of the budget session, she said that 198 companies of central armed police forces and 140 army columns have been deployed along with state forces to maintain law and order.
Engagement with neighbours is a strategic imperative, and not an option, asserts Rup Narayan Das.
The party on Wednesday removed former minister Sudhir Sharma, who was among the six rebel MLAs who were later disqualified for defying party whip on the state budget, from the post of All India Congress Committee secretary with immediate effect.
Following a virtual meeting on June 16th, 2024, the All India Football Federation (AIFF) announced a change in leadership for the Senior Men's National Team.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
The initiatives intended to benefit the common man include e-ticketing, catering on demand, bio-toilets, food for infants, better stations.
Former India wicketkeeper Saba Karim was on Saturday appointed as General Manager (Cricket Operations) of the Board of Control for Cricket in India.
The dates of general elections in 2019 and the presentation of the final Budget of the Modi government are so far removed from each other that Jaitley is not under any pressure to present a populist Budget. Instead, he could well unveil an array of schemes and proposals that he believes are necessary for the economy, even if a few of them could be unpopular, says A K Bhattacharya.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
'It is a balanced and prudent Budget that sets the foundation for future growth in the economy.'
The Union government's finances witnessed significant improvement in August after a stressful first four months of the current fiscal year. India's gross tax revenue, comprising both direct and indirect taxes, for the first five months of 2023-24 surged 16.5 per cent year-on-year (Y-o-Y) to Rs 11.8 trillion. During the April-July period, gross tax revenue increased by a mere 2.8 per cent compared to the Budget Estimate of 12.1 per cent growth for FY24.
Welcoming them into the BJP fold, Chief Minister Mohan Yadav cryptically said many people are feeling anxious and they will eventually join the saffron party in the coming days.
"India's middle class, small traders and farmers are the lifelines of its economic growth. By catering to these ambitions #Budget2019 infuses hopes for millions of dreams."
Goyal's move was criticised by the Opposition saying with general election months away, the Prime Minister Narendra Modi-led government had mandate only to present a vote on account and a Budget containing direct tax proposals.
For 2017-18, the plan size has been pegged by the Railways at Rs 1,31,000 crore.
Two full-fledged semiconductor fabrication plants are going to come up in India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a $8 billion proposal submitted by Israel-based Tower Semiconductors and the other from Tata Group. "I am happy to share this with you and you are probably the first one I'm sharing this with.
The opposition has attacked the Modi government over the National Democratic Alliance's last full-fledged budget before the 2019 Lok Sabha elections.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
'We have to cut down on manpower to make more for equipment,' Indian Army chief General Bipin Rawat tells Ajai Shukla.
Barely two months before the Lok Sabha election, Gandhi will be filing her nomination papers in Jaipur on Wednesday. Party chief Mallikarjun Kharge, her son Rahul Gandhi and daughter Priyanka Gandhi Vadra are likely to accompany her.
'The plan is to secure nod of the Union Cabinet and other relevant regulatory approvals within the next three months,' a senior finance ministry official said, requesting anonymity.
The Budget is expected to make some key announcements, including relief package for farmers, poor and sops for the middle-class.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
'China's opaque defence allocation processes are shrouded in mystery and have triggered security dilemmas among its neighbours and others,' notes China expert Srikanth Kondapalli.
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
In this year's budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
'It is crucial today to realise where we have reached in this 15 year-period in order to fully and properly assess the profundity of what General Rawat has said,' points out Ambassador M K Bhadrakumar.
