There could be a strong incentive for tax payers to avoid the higher tax burden.
The budget underscores government's previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, it stated. But the various spending initiatives are not offset by any significant announcements related to further increase revenue generation; rather, the announced revenue-related measures are aimed at other objectives such as fostering startup innovation, ensuring more equitable treatment for cooperatives and state employees, and promoting tax compliance through simplification, Christian de Guzman, a senior vice-president, sovereign risk group, Moody's Investors Service, said.
Cong leaders speak in two voices but final stand may be decided at a meeting headed by Rahul Gandhi next week
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
Accusing the ruling Bharatiya Janata Party of having "reaped benefits" of communal polarisation in the Lok Sabha elections, the Congress on Wednesday said the government should now focus on good governance and deliver on promises.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
Finance Minister Arun Jaitley, who is meeting state finance ministers on Thursday to garner support for the Constitution Amendment Bill for a goods & services tax (GST), is likely to immediately dole out about Rs 13,000 crore (Rs 130 billion) in Central Sales Tax (CST) compensation to states.
The average rating was seven out of 10.
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
The sector seems set for a rally that may be somewhat temporary.
The upward revision in growth forecast for current fiscal comes in the backdrop of GDP expanding 8.2 per cent in April-June quarter, higher than Fitch's expectation of 7.7 per cent.
This is good news for the central government at a time when crude oil prices are rising.
States' demand for 5 years and Constitutional provision ruled out
With recent rate cuts, November collections could be even less
Rajan said investments should return after initial investor worries over Brexit.
From the roll-out of GST to H1B visa problems, the government needs to quickly deal with various disruptions.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
This time, the global appetite for risk is in favour of India.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Analysts expect modest recovery in Indian economy.
Finance Minister Arun Jaitley on Wednesday said the country is on an "upward curve" and a good monsoon, GST passage and increased infra and rural spending will further accelerate the growth.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
Javadekar asserted that the first 50 days have shown that Modi government's second term will be more effective and will build on the success of its previous tenure.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
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.
'We have the more difficult reforms to do such as the reduction of subsidy, the insurance and pension sector reform, eliminating bureaucratic red tape and implementing Goods and Services Tax'
With tempers rising on intolerance, it will be hard to run House proceedings.
'We have to make doing business in India easier.'
Last week, a Rajya Sabha committee had allocated five hours for discussion on GST.
The worst may perhaps be over for these stocks, suggests Sanjay Kumar Singh.
India's political infighting is denting business confidence.
The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444.
The Budget sets out a comprehensive vision.
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
The agency has predicted that monsoon will also be a major factor.
