In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
'On the tax front, most of the Budget proposals are sensible'.
Over 15 years, with seven per cent growth, the Indian economy will be three times bigger.
Over the next five years, it will be Narendra not Nitish who will be under pressure to deliver vikas and atmanirbharta in Bihar, notes Kanika Datta.
Telangana govt currently provides the state's 5.83 million farmers an income support of Rs 4,000 per acre per season, irrespective of the size of their land holding
Farm loan waivers should not be regarded as expenditure but as incentive and investment, argues B S Raghavan, the distinguished civil servant.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
The ministry said some urgent amendments are not there in the ordinance but are required for strengthening the corporate governance
In a Facebook post on the second anniversary of demonetisation, Jaitley said in first four years of the National Democratic Alliance government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
India could add $7.7 billion every year to its economic productivity if its young girls are able to study and work till their 20s.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
'We don't need to hinge India-UK relations on shared hostility toward China,' observes Ambassador M K Bhadrakumar.
The Congress, desperate to make a comeback in Gujarat, which has been ruled by the Bharatiya Janata Party for over 20 years, has tried to reach out to various sections of society in its blueprint unveiled.
Changes in threshold not to have a significant revenue impact, say officials
'Without bold action to deal with our banking crisis, count on the economy's doldrums to continue for much longer than most of us anticipate,' says Rahul Jacob.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
'As for tricky relations with China, India needs less of summitry type event management and more anticipatory analysis and management of events,' says Ambassador Jaimini Bhagwati.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
The GDP always has a base year, which defines the composition of the economy in that year. As the composition changes, the base year needs to be revised regularly. Abhishek Waghmare explains how that is done.
Let start-ups be start-ups until they become grown-ups, let young entrepreneurs be experimental and bold, let VCs do their job, but for God's sake, the nation must prime the real grown-ups to solve the imminent issues., says R Gopalakrishnan.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Arun Jaitley had a tough fiscal hill to climb.
FinMin's project will enable tax man to track electronic transactions like RTGS or NEFT.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Inflation pegs down currency value, re-allocates resources, reduces potential economic growth and leads to the attrition of gross domestic savings.
Soft oil prices are expected to persist in 2015 and will be accompanied by significant real income shifts from oil-exporting to oil-importing countries.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
As per the recommendations of the 2nd National Commission on Labour, the ministry is codifying existing 44 central labour laws into four codes by simplifying, amalgamating and rationalising the relevant provisions of the legislations.
Those who like to draw comfort from the fact that UP is the country's third-largest state in terms of the size of its economy should also note that its growth rate is one of the lowest, its per capita income is almost half of the national average and its poverty rate at 30 per cent places it at the twentieth rank among all the states, says A K Bhattacharya.
Index of industrial production data had also shown that the sector grew at 3.1 per cent after contracting in the previous quarters.
State Bank of India (SBI) chairman Rajnish Kumar, in conversation with Abhijit Lele, also says that the overhang of corporate debt stress will begin to recede in the next two-three quarters.
While the widespread feeling is that employment growth has been sluggish, some argue that, since sabka vikas slogan will most probably not deliver, Mr Modi and the BJP are going in for an unambiguous strategy of Hindu consolidation, says Subir Roy.
FM should avoid proposals such as to tax financial transactions and fringe benefits
The amended India-Mauritius tax treaty has inserted a new clause allowing source-based taxation at 10 per cent on fees paid for technical and consultancy services.
In a sharp attack on Bharatiya Janata Party, Chief Minister Sheila Dikshit on Tuesday accused it of "misleading" people by "trumpeting" Narendra Modi's development model and said economic figures of last five years clearly showed that Delhi was much ahead of Gujarat.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
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