The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
Less than 24 hours after Detroit filed the largest municipal bankruptcy in US history, the two men behind the historic action -- Michigan Governor Rick Snyder and Detroit Emergency Manager Kevyn Orr -- defended the move in an interview with Reuters.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
Much as you try to like this film, you end up feeling sad as the Ungli turns limp, says Prasanna D Zore.
'People do not want a 'maha milavat' (highly adulterated) government of those who assembled in Kolkata.'
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
'You look with hope at a politician who comes along and promises to change all that: 10 million new jobs every year, no need to touch someone's feet to get an introduction to an employer. And fix the corrupt guys who have made the system what it is.' 'But five years later, the reality has changed little or not at all,' says T N Ninan.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
A vibrant financial system could can help finance those who wanted to create jobs.
He advised banks to facilitate appropriate credit expansion.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
The agency has predicted that monsoon will also be a major factor.
Khan in his maiden speech at the 74th UNGA session suggested that nuclear-armed Pakistan may not have much of a choice if a conventional war were to break out between Pakistan and India which he described as a country seven-times its size.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
The need of the hour, as the Supreme Court readies to rule on the constitutionality of Aadhaar, is for the UIDAI to fix the bugs, says Geetanjali Krishna, in the second and final part of her series.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
Indian Railways need a facelift, says Suresh Prabhu.
The FT report said the existence, size and investments of the highly profitable internal trading fund, which was set up three decades ago, have until now remained largely unknown outside a circle of former and current insiders.
'The Budget will have to be substantially re-cast as soon as a new government takes charge after the elections.' 'Both revenue and expenditure numbers will have to be trimmed -- and then may better reflect the deceleration of economic activity caused by slowing consumption trends,' points out T N Ninan.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
How could India@75 improve law and order, courts, social, physical and soft infrastructure, efficient cities, e-governance, ease of doing business and other essential state functions by 2022, asks Shailesh Pathak.
The govt hiked defence budget by 7.81 per cent over last year's Rs 2.74 lakh crore.
'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.
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
"I have a given a notice for discussion on Lokpal in the Rajya Sabha. The Business Advisory Committee will decide on the date for discussion," Minister of State for Personnel, Public Grievances and Pensions V Narayanasamy told PTI.
A proposed 24 percent hike in the salaries of 2.6 million employees and pensioners, will land the railways with a wage bill of about $4.7 billion.
'The COVID-19 pandemic must push the military into a long-term reconsideration of its primary challenges.' 'There must be greater emphasis on humanitarian aid and disaster relief including the management of contagious illnesses and impending crises caused by climate change,' notes Ajai Shukla.
'There is no money with the villagers as there is little work.'
'You peel one layer, then another layer, then another, but in the end, you will see that there is no onion inside.' 'This package has been packaged well, but there is nothing much inside the package!'
The Supreme Court on Thursday assured the Centre and bodies like SEBI and RBI that it will take a decision by Friday evening on their plea seeking setting up a larger bench for modifying an earlier order restricting the voluntary use of Aadhaar card to PDS and LPG schemes only.
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.
These plans aren't likely to put substantial cash in your hands.
The abolition of wealth tax is again a welcome step.
Retirement blues can sometimes result in actions that are dysfunctional, notes Ajit Balakrishnan.
Prime Minister Narendra Modi writes a letter to the nation on Tuesday listing his government's achievement as he completes on here in office.
Beauty is woven into the ghazal with such deep feelings of love that the focus is always on seeking oneness with the other, notes Gopi Chand Narang.
Managing expectations is a challenge for policymakers.
Some organisational changes are likely in some of the key army formations.
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