The opposition has a whole host of issues to target the government.
Jaitley's Budget has the potential to change the face of Modi's Bharat
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
Moody's Investors Service, while silent on the sovereign rating on the higher-than-expected fiscal deficit numbers, expressed doubts over attaining the higher revenue targets and divestment realisation as assumed in the Budget. The Union Budget 2021-22 has pegged a fiscal deficit of 9.5 per cent for the current financial year as against the consensus 7 per cent, and 6.8 per cent for 2021-22 with a market borrowing of around Rs 12 lakh crore. It also assumes Rs 1.75 lakh crore to be scooped up from divestment.
The traditional annual speech by President Trump was initially scheduled for this Tuesday but had to be postponed because of the largest government shutdown due to differences between the White House and opposition Democrats on the issue of US-Mexico border wall.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
The finance ministry has cautioned that global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, warranting "greater vigilance" by the government and the Reserve Bank of India (RBI). "Russia's decision to terminate the Black Sea grain deal, along with dry conditions in major wheat-growing areas, caused a price spike in cereals. Domestic factors like white fly disease and an uneven distribution of monsoon exerted pressure on vegetable prices in India," the ministry said in its latest Monthly Economic Report for July, released on Tuesday. However, the report maintained, the recent price surge in certain food items "is expected to be transitory". "Tomato prices are likely to decline with the arrival of fresh stocks by the end of August or early September.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
It is the rupee's biggest single-day gain this year.
RBI's latest rate cut will bring down home, car loan's EMI.
With the all-party meetings called by Rajya Sabha Chairperson Jagdeep Dhankhar and Lok Sabha Speaker Om Birla producing no breakthrough to end the deadlock in Parliament, Union ministers Piyush Goyal and Pralhad Joshi accused opposition parties of repeatedly 'insulting' Dhankhar.
Most of the auto major put in a commendable show except for Hyundai which saw its net dipping 17.7 per cent.
At an event at Chhatrapati Shivaji Maharaj Terminus in south Mumbai, Modi first flagged off the the CSMT-Solapur Vande Bharat Express and later another semi high-speed train linking the financial capital to Sainagar Shirdi temple town in Ahmednagar district.
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.
The legislation was passed by 125 votes in favour and 61 against.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
The DTH industry in India is likely to witness a price cut in its services in near future, with the government proposing a cut customs duty to zero per cent from the existing 7.5 per cent on specified parts of set top boxes.
A private member resolution seeking that the government implement the recommendations of the Sachar Committee report and other reports that have discussed the educational and social backwardness of Muslims and enact a legislation for the prevention of atrocities against minorities was moved in the Rajya Sabha on Friday.
If the real economy is indeed looking up, then it no longer needs hand-holding and fiscal laxity
The finance minister said that Indian investors will be allowed investment in overseas capital markets through mutual funds and that mutual funds will set up infrastructure fund schemes.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
The meeting was held at the newly built convention centre at Pragati Maidan, which will host the G20 summit in September.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
ONGC was the top laggard in the Sensex pack, dropping 5.80 per cent, followed by PowerGrid, HCL Tech, TCS, Tata Steel and Reliance Industries.
The industry's reactions to the Budget have been mixed.
The Cabinet Committee on Political Affairs will meet on February 4 to decide the Budget session schedule. Venkaiah Naidu says the government is willing to advance the session if the Opposition agrees.
The price per kilogram of onion came down to Rs 2 to Rs 4, which angered the growers, who had stopped the auction at the APMC last week for a day.
The G20 declaration, which hit snags on the language to describe the Ukraine war, amounted to a 'coup' for host Prime Minister Narendra Modi though the final compromise statement reflected a stand far softer than those the United States and its Western allies have adopted on Russia, the world media said on Sunday.
Agriculture credit is likely to exceed the target of Rs 7,00,000 crore while farm exports are expected to increase to over $45 billion in the current fiscal, Finance Minister P Chidambaram said today.
One possible way of accelerating National Education Policy's outcome is to invite 10,000 retired highly accomplished teachers from the developed world and from India in STEM areas to create 2,500 "Train the Teacher" colleges in the country's 28 states and eight union territories, Murthy said.
Congress members also vociferously pressed for a discussion on the Comptroller and Auditor General report.
'The performance of any government is benchmarked on five parameters -- India's external security, the state of the economy, social cohesion, internal security, and India's relations with the world or its foreign policy. On each of the benchmarks in the past nine years, the NDA-BJP government has come up completely short'
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
'The Digital Rupee will be equal to the Indian rupee in value and backed by the full faith and credit of the RBI/Indian government.'
Reaching out to the youth of the Kashmir Valley, Prime Minister Narendra Modi on Sunday spelled out initiatives for peace and development, and assured they will not inherit the problems faced by their parents and grandparents.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
'Unless India Inc's earnings offer promise in March 2017 quarter, sentiment may not reverse in a hurry.'
Without making any direct reference to the three new farm reform laws or to the three-month-old agitation by farmers, Modi said there is a need for expanding options for the country's farming community to sell agri produce.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
