Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
'Expectations are high regarding the change in LTCG with respect to equity investments.'
The government will come out with a White Paper on the mismanagement of economy prior to 2014 with an aim to draw lessons.
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The impact the Economic Survey had on the Budget proposals and the influence the Prime Minister wielded on them deserve close attention.
The government on Wednesday raised the minimum support price (MSP) for paddy by 5.35 per cent to Rs 2,300 per quintal for the 2024-25 kharif marketing season. The hike in paddy support price comes despite the government sitting on surplus rice stocks, but it is significant ahead of elections in states like Haryana, Maharashtra, Jharkhand, and Delhi.
The meeting was held at the newly built convention centre at Pragati Maidan, which will host the G20 summit in September.
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.
The session will begin with President Ram Nath Kovind's address to the Lok Sabha and Rajya Sabha assembled together in the Central Hall and chambers of both the Houses in view of the COVID-19 situation.
There is no use of the BJP targeting the likes of Mamata Banerjee and M K Stalin, directly by the party's political bosses, both in Delhi and the respective state capitals, or even using the Raj Bhavans to fire those salvos from. Successive elections have proved that it's counter-productive, if anything. But the BJP is yet to understand it, acknowledge it, points out N Sathiya Moorthy.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
Does this Budget deserve cheers or boos? You decide
The Budget loosened the reins on public spending to drive growth.
Addressing a joint press conference of opposition leaders at the Constitution Club after a 'Tiranga March' from Parliament House to Vijay Chowk, he said the government's intention was to get the Budget Session washed out.
Prime Minister Narendra Modi on Tuesday asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy. Stating that implementation of green financing is the 'need of the hour' to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects. "Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas," Modi said in a post-Budget webinar on 'Financing for growth and aspirational economy'.
Finance Minister Arun Jaitley presented the Union Budget for 2014-15 on Thursday.
Finance Minister Nirmala Sitharaman on Monday used her trademark 'bahi-khata', a ledger wrapped in a red-coloured cloth, to carry Budget documents as she arrived in Parliament House to present her third straight Budget. Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers. She used the same last year and again on Monday.
Economists want the government to focus on jobs, farms, and fiscal consolidation. They also favour re-imposition of the long-term capital gains tax on listed securities and mutual funds.
The government has convened an all-party meeting on July 21 ahead of the Monsoon Session of Parliament which will start next Monday, the Parliamentary Affairs Ministry said.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
Kharge was elected Congress president, defeating Shashi Tharoor in an electoral contest, the sixth in the party's 137-year-old history.
If the prime minister can say all kinds of things against India, why is it a crime if Rahul Gandhi does so, Kharge said.
Continuing on the fiscally prudent path, the Modi government in the interim Budget refrained from announcing populist measures, which will help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
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.
In Bali, Indonesia's Hindu majority province, attending the convention of Group of 20 leaders are two men who also share the Hindu faith -- Narendra Damodardas Modi, the prime minister of India, and Rishi Sunak, the prime minister of the United Kingdom.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Opposition parties, including the Congress, Trinamool Congress, Bharat Rashtra Party and Samajwadi Party, came together in a show of unity on Thursday and accused the Modi government of getting the second half of the budget session washed out, while asserting that if this attitude continues, the country will move towards a "dictatorship".
The full-court press on India over Ukraine, the BBC 'documentary', the Oxfam report, the Hindenburg attack on Adani and obliquely on the Indian economy, and any number of other acts are signs that India is a target, warns Rajeev Srinivasan.
It was also the shortest speech by Sitharaman, who had delivered the longest speech last year. Her first Budget speech in July 2019 went on for around 137 minutes and in 2020, it went on for more than 160 minutes and was cut short after she felt unwell.
Congress leader K C Venugopal on Friday gave Rajya Sabha chairman Jagdeep Dhankhar a breach of privilege notice against Prime Minister Narendra Modi over his remarks on why former prime minister Jawaharlal Nehru's family did not use his surname.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The ministry of finance will kickstart its massive budgetary exercise from October 15.
Describing the general Budget as a 'sanjeevani' (new life) to the "moribund economy", Prime Minister Narendra Modi on Thursday said it converts hopes and aspirations of the people into trust and is in line with his government's endeavour to bring India out of crisis.
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.
Finance Minister Arun Jaitley's promises of bold Budget decisions and broadsides against the 'mindless populism' of his left-of-centre predecessors have proved a hit with investors.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
As per the allegations, some parts of Delhi also had posters with the caption Modi Hatao Desh Bachao.
The new TDP government will have to mop up over Rs 10,000 crore to fulfill the financial requirements for July, a retired senior bureaucrat said.
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