The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
She recited a Kashmiri verse, which was part of a poem by Sahitya Akademi award winner Pandit Dinanath Koul. She rendered the verse in both Kashmiri and Hindi. Besides, the minister quoted woman Tamil poet Avvaiyar, Tamil poet Thiruvalluvar, a verse from Raghuvamsa by Kalidasa, as well as late finance minister Arun Jaitley while talking about the Goods and Services Tax (GST).
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
The draft report of the committee contains 27 suggestions for amendments under the I-T Act and eight for reform through administrative instructions.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
FM proposed rationalisation of various tax exemptions.
The new tax rates will come into effect from January 1, 2019.
Maharashtra Deputy Chief Minister Ajit Pawar, who heads the Nationalist Congress Party, has said that helming the NCP away from the shadows of his uncle and founder Sharad Pawar after the split is a huge responsibility.
Auto sector has nothing to look forward to in the Budget.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
The ruling Bharatiya Janata Party on Wednesday hailed the Union Budget as an "all-inclusive" document while the Opposition dismissed it as "anti-people" and mere rhetoric lacking the vision for creating jobs and taming inflation.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
The government will have to get projects moving.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
Group term insurance is far more cost-effective than an individual cover.
'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
Excise duty hike for cigarettes could be lower.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
'Who sent Masood Azhar back to Pakistan? Who bowed down to terror and released him? Not the Congress, but it was the BJP government'
Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal. The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices. Russia's share of India's crude imports remained strong at about 35 per cent in September 2023.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Increase in tax exemption limit by Rs 50000 is positive for the FMCG sector, as it will leave more discretionary income in the hands of consumers.
P Chidambaram accused the BJP of making a u-turn on bills like GST after having stalled them during the UPA regime.
Are we creeping back to controls on corporate decision making? Three moves over the past eight months reinforce this notion, says Kanika Datta.
'No matter how many government schemes there are for the poor, the system works more for the privileged, less for the little guy,' notes T N Ninan.
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
Mihir S Sharma outlines why this year's Union Budget does not respond to the needs of India's economy, or attempt to frame the economy's future.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
Mohandas Pai took part in an hour-long chat on rediff.com
