Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
In the last 11 years, India and the world witnessed what he stood for, what he promised and did not deliver, and what he actually stood for and practised without fearing how history would judge him. Modi's tenure has been punctuated with headline-grabbing decisions, symbolic gestures, and stage-managed moments that continue to define his leadership and India's politics, points out Ramesh Menon.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
Finance Commission has got new team who are committed to growth initiatives.
Finance firms in these SEZs likely to get tax breaks.
Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
Three entities entrusted with job submit reports on black money estimation.
The study was ordered in March 2011 when the nation was debating on the amount of unaccounted income with figures projected by politicians and civil society in crores of rupees.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
The empowered committee of state finance ministers has virtually trashed the Thirteenth Finance Commission taskforce's Goods and Services Tax report.
It is time to reform the RBI and the ministry of finance, says Dr Ajay Shah of the National Institute of Public Finance and Policy, New Delhi.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Those who worry that the Adani saga will turn the world off India are not looking at the entire picture, asserts Mihir S Sharma.
'The Budget needs to focus more on social welfare schemes.'
One out of every two Indians would have Aadhaar number by the middle of 2014, UIDAI Chairman Nandan Nilekani has said as he underlined the unique attributes of the identification system that will lead to public sector reform and governance transformation.
There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
'When so many young Baloch men and women are willingly volunteering as fighters and even suicide bombers.'
'We are not able to manufacture even low-end products as cheaply as China.' 'We are not buying Chinese goods today out of any love for China.'
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
The government on Thusday said it is examining a proposal for setting up a venture capital fund to promote drug discovery in India.
Justice Rajiv Sahay Endlaw dismissed the plea of an employee that departmental inquiry and consequent dismissal from job for forging a rent receipt was illegal as the National Institute of Public Finance and Policy had no rules governing services.
The Prime Minister's Economic Advisory Council on Wednesday favoured further increase in petroleum prices in line with the global trend.
"The central fiscal situation has improved but several underlying fiscal pressures are not entirely evident in the numbers," Reddy said at an event organised by the National Institute of Public Finance and Policy. In 2008-09, the Centre has budgeted to cut fiscal deficit to 2.5 per cent of GDP from 3.1 per cent in 2007-08.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Forty-five specialists will soon be joining key posts of joint secretaries, directors and deputy secretaries in different central ministries as part of the Modi government's ambitious plan to infuse fresh talent to further improve ease of governance.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
Households are likely to remain the primary net lenders to the economy in the coming decades.
Expenditure on health in India is at a global low of 1.2% of GDP.
'An era of fiscal pessimism is setting in, which, if not countered intellectually, is going to have the same effect as export pessimism has had,' notes T C A Srinivasa Raghavan.
Condolences have poured in from across the globe, including from the United States, Canada and Sri Lanka following the demise of former Prime Minister Manmohan Singh.
