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.
"This rationalisation is 3-4 month exercise," he said, adding that the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
The win in UP is especially significant because UP assembly members carry the maximum value of votes in a Presidential election, given the fact that the state is India's most populous.
Referring to long-pending insurance bill, he said "we are on the verge" of opening the sector a little more.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
The winter session of Parliament is set to be stormy with Opposition parties closing ranks to target the government on issues including 'intolerance' even as the ruling dispensation expressed its readiness to discuss all issues.
This means taxpayers might continue to enjoy exemption on maturity of their investments
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
The Centre had set up a Commission under former Reserve Bank of India Governor Bimal Jalan to suggest steps to rationalise subsidy and help the government in effectively bringing down the fiscal deficit.
Macro and micro environment are becoming more challenging.
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
BJD MP Baijayant Jay Panda has written that 'reforms must reduce the Rajya Sabha's power to block the popular mandate'
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
Asked about the Congress's opposition to the GST Bill, Santosh Kumar Gangwar said no party opposes GST outside Parliament.
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
'Life will not improve overnight; it will happen in a gradual manner.'
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".
The introduction of GST would constitute India's biggest reform.
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
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.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
Jaitley's concerns are unlikely to cut much ice with the Congress.
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
RBI governor Raghuram Rajan is likely to cut rates in next monetary policy.
This is good news for the central government at a time when crude oil prices are rising.
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.
Govt can advance the dates of the convening of the monsoon session of Parliament to early July
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.
There could be a strong incentive for tax payers to avoid the higher tax burden.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
Cong leaders speak in two voices but final stand may be decided at a meeting headed by Rahul Gandhi next week
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances