Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
Abolition of CST will pave the way for an integrated Goods and Services Tax (GST) which will be introduced by April 1, 2010, Finance Minister P Chidambaram said.
Taking a veiled swipe at the Congress party, he said one of the things he found when he came to Delhi was that those who got opportunity to rule the nation for "many, many years, loved to keep things in a pendulum mode".
There were more than three losers against every gainer on BSE
HR guru Mayank Rautela provides a three-point plan.
'Through the use of technology, the GSTN will tip the balance in favour of compliance rather than tax evasion, lowering the barriers for entry into the tax payment system while making it much harder to cheat on payments,' says Nandan Nilekani.
Even after SC directions, the administration has not restored mobile internet services for Kashmir division. It said misuse of data services by anti-national elements has the potential to cause large-scale violence and disturb public order.
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
Businesses coming to terms with Ind-AS (Indian Accounting Standards) implementation, GST can do without further uncertainty and costs, say N Sundaresha Subramanian & Sudipto Dey.
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Once heavily dependent on the cigarettes segment, corporate behemoth ITC has diversified over the past two decades into many businesses that now generates 58 per cent of its revenue. Sanjiv Puri, chief executive officer, ITC, shares his plans with Arnab Dutta.
Passage of the long-pending Goods and Services Tax bill and a unanimous resolution on Kashmir were the highlights of the "highly productive" Monsoon session of Parliament which was adjourned sine die on Friday after 20 sittings.
Prime Minister Modi highlighted the importance of public participation in a democracy and said that the definition of democracy could not be restricted only to elections and the governments.
Jaitley, while reviewing the security situation of Jammu and Kashmir at a high level meeting, also asked the forces to deal firmly with the inimical elements but ensure safety of the innocent people, officials said.
Stock markets in structural bull run but there can be bouts of volatility says Ravi Gopalakrishnan, head, equities, Canara Robeco Mutual Fund
Honest tax payers need not worry about the new black money law, says finance minister Arun Jaitley.
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
In a time of crisis like this, a government needs its people and politics united. A nation of India's size and diversity can't fight a stronger rival with fraying social cohesion, observes Shekhar Gupta.
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
Shah held a meeting with office-bearers, state chiefs and key organisational leaders to finalise agenda items, including resolutions, which the national executive is expected to discuss on September 25, the birth anniversary of Hindutva icon Deen Dayal Upadhyaya.
It looked as if the BJP was hoping to use Rajinikanth to press their seat-bargain with the AIADMK. Now with the Rajini bait gone, the question now is not how much the BJP would settle for, but how much the AIADMK would be ready to offer, notes N Sathiya Moorthy.
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
Urban markets account for the major share of total revenues.
There is nothing specific announced for Chemicals Industry, however, reduction in customs duty
India's Current Account Deficit rose to a record 6.7 per cent in the quarter ended December of 2012-13.
NDA under Mr Modi is as focused on the rural poor with doles and hand-outs as the UPA under Dr Singh was.
A glance back at some important events that occurred in 2018.
Union Minister M Venkaiah Naidu alleged that by not allowing Parliament to function, Congress was not stopping the Modi government but "creating hurdles" in the country's development.
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
The government said it is open to debating the JNU row in Parliament during the upcoming budget session starting February 23 with Modi saying that it will address the concerns raised by the opposition.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
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