Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
Passenger fares and freight rates were left untouched
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Debroy's economic interests and research work covered numerous areas such as economic theory, income inequality, and infrastructure financing.
Modi's inability to make peace with a renewed Opposition will only embolden his coalition partners and it is just a matter of time before they begin asking probing questions besides politely disagreeing with his tactics, predicts Nilanjan Mukhopadhyay.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
Modi earned his spurs as a doughty leader of the Opposition in the assembly, a post he held till 2004 when he got elected to the Lok Sabha from Bhagalpur.
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
'The vision now is not just to look at national highways as a number of kilometres, but quality as well.'
The Centre has received Rs 6,651 crore as interim dividend from 12 public sector undertakings (PSUs) on Monday, edging towards its Rs 50,028 crore dividend target for the ongoing fiscal. Power Grid Corporation of India (PGCIL) has transferred Rs 2,506 crore as a dividend tranche to the government, while NMDC and Nuclear Power Corporation of India transferred interim dividend of Rs 1,605 crore and Rs 972 crore, respectively. The government has received dividend tranches of Rs 913 crore from GAIL, Rs 351 crore from Hindustan Aeronautics, Rs 149 crore from Bharat Electronics, among others, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
Several questions arise on the appropriateness of the measure in the already strained fiscal scenario, says M Govinda Rao.
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
Of the Rs 1.97 trillion that the government intends to spend on all 14 production-linked incentive (PLI) schemes, around Rs 41,000 crore remains unutilised as of now, according to a senior government official. This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years. The unutilised amount/savings result from undersubscription, lukewarm responses in the case of schemes such as textile, as well as a reduction in the allocation of schemes.
Continuing the upward trend, GST collections rose 10 per cent to about Rs 1.64 lakh crore in December compared to Rs 1.49 lakh crore in the same month a year ago. During the April-December 2023 period, gross Goods and Services Tax (GST) collection witnessed a robust 12 per cent growth, reaching Rs 14.97 lakh crore against Rs 13.40 lakh crore mopped up in the same period of the previous year, the finance ministry said in a statement on Monday. The average monthly gross GST collection of Rs 1.66 lakh crore in the first nine-month period this year represents a 12 per cent increase compared to the Rs 1.49 lakh crore average recorded in the corresponding period of FY23, it added.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
Even if the same party returns to power, what is important to debate is that having introduced an entitlement, how challenging it is to reverse such decisions, says Mukesh Butani.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
The BJP's challenge is whether it can again deflate a Congress, which now looks reinvigorated and has adopted sharper messaging around its 'guarantees', and several regional parties, especially in Bihar, Maharashtra and West Bengal.
RBI Governor Shaktikanta Das on Thursday said the central bank does not "emulate" others when it comes to regulations and asserted that the bank's as well as his own opposition to cryptocurrencies remain unchanged, a day after US regulators allowed bitcoin Exchange Traded Funds (ETFs). He also said that emerging markets and the world cannot afford to have a "crypto mania". "What is good for another market need not be good for us.
'The move towards fiscal consolidation had to be diluted because of the relief to farmers as the government wants to appease the voters.'
It also saw the suspension of 100 members in a span of four days for unruly conduct and a major security breach on the anniversary of the 2001 Parliament terror attack.
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
EPS has had its way on most things, alliance-wise. A week earlier, he reiterated that he would not re-admit OPS and Sasikala Natarajan back in the party. It was a message not just to detractors in the AIADMK. It was even more so for the BJP leadership in Delhi. Even more important for the AIADMK was their demand for accepting EPS as the chief ministerial candidate of any alliance that the party would form, observes N Sathiya Moorthy.
Relief on tax surcharge also likely to be extended to the corporate sector; duty on gold expected to be slashed.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Actor Poonam Pandey is not being considered as the brand ambassador of the government's national campaign to spread awareness on cervical cancer, Union health ministry officials said on Wednesday.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
Shortly after the Union Budget was announced, political leaders from across the spectrum reacted to it. Here's what some of our leaders said.
Inflation in food articles category in January stood at 8.8 per cent.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
Even as the government debates whether to continue the FAME-II subsidy for electric vehicles (EVs), the share of such vehicles in overall sales is decelerating, after witnessing a heady growth in the first few years. The penetration of EVs - electric two-wheelers, passenger vehicles, three- wheelers and other segments collectively - in the first 10 months of FY24 has been pegged at 4.3 per cent, compared to 3.7 per cent in FY23, according to credit rating agency ICRA.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
The President's address to Parliament on January 31 will contain the government's report card on the state of the economy, and will be no less important than the interim Budget announcements, says A K Bhattacharya.
India will replace its military personnel operating three aviation platforms in the Maldives with 'competent' Indian technical personnel even as New Delhi asserted that it remained an important development partner of the island nation.
According to FADA, automobile retail trade and service industry comprises a network of 9,500 automobile dealers and their service stations engaged in sale, service/repair and spares of vehicles across segments, is an essential link in automotive business and a significant stakeholder.
