'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.
Crude oil's long price slide might be ending, feel some experts. Last Friday, the price of Brent crude, seen as a benchmark for what India uses, saw a low of $75.3 a barrel - it is now trading around $79. The fall has been nearly a third from its high seen in June, only five months earlier.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
South and South-West Asia could witness an economic growth of 5.3 per cent in 2015, which will be a four-year high.
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
'Pakistan is a nuclear country.' 'With the kind of situation that is there in Pakistan today, America will help Pakistan stay afloat.'
Foreign exchange reserves of the oil producers have increased by $1.1 trillion over the past decade.
The hike in the budget is the lowest increment in recent years apparently due to the heavy disruption caused to its economy by the COVID-19, according to the official media.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2021-22 along with Statistical Appendix in the Lok Sabha on the first day of the Budget session of Parliament. Later, the Lok Sabha was adjourned till tomorrow. The Economic Survey will now be tabled in the Upper House. The Budget Session of the parliament commenced on January 31 with President Ram Nath Kovind's address. The first part of the Budget session of Parliament will be held from January 31 to February 11 and the second part of the Budget session will take place from March 14 to April 8.
Engagement with neighbours is a strategic imperative, and not an option, asserts Rup Narayan Das.
An asset swap can simultaneously boost public investment, reduce the fiscal deficit and keep fiscal policy from being pro-cyclical.
This includes over $15 billion of proposed investment in the infrastructure sector in the Indo-Pacific and $9 billion for shoring up American defence in the region.
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
'As matters stand, Russia and Saudi Arabia, two of the world's biggest oil producers, are set for a hard landing as they didn't diversify their economies as much as they should have when the oil prices were booming.'
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
Exports in January 2014 stood at $26.89 billion.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Arun Jaitley presented the Union Budget in Parliament on Saturday.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
Saudi Arabia relies more heavily on migrant labour than any other large country.
Germany is now sitting on a mountain of savings.
Modi's government sees itself in a sweet spot with spare cash.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Govt may further hike excise on petrol, diesel before Budget.
My sense is that we are in a situation similar to 2011-13, notes Debashis Basu.
RJD president Lalu Prasad on Thursday said Railway Budget has cheated people as it has nothing to offer.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
Total subsidy bill could come down to around Rs 2 trillion.
The government had no option but to cut spending to meet its borrowing targets.
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India's economic growth slipped to decade low of 5 per cent in 2012-13 and in the current fiscal it estimated to be around the same level.
Hitting GDP growth of more than six per cent will require substantial foreign direct investment, especially if household savings largely continue to remain locked.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
Link between oil exploration and markets can be used by India to great advantage.
Pushing a barrel of oil back to around $100 would require a reduction of production of about two million barrels a day - a cut that would fall predominantly on Saudi Arabia.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
The ongoing oil price decline is mainly a result of oversupply in the global market
'The road ahead for the government's fiscal management will be full of many new challenges,' warns A K Bhattacharya.
