'On December 5, the government called unions for pre-Budget consultations.' '12 trade unions were called and the time allotted was one hour which means 5 minutes for each union.' 'We were asked to present our views in about four minutes.' 'That itself is a reflection of how serious the government is about workers' demands.'
In a pre-budget meeting with Finance Minister Arun Jaitley, the experts suggested timely implementation of the BJP's election manifesto promises to fix higher support prices. They also favoured a Kissan TV channel, an efficient procurement policy, priority for farm mechanisation and the linking of rivers.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
The finance minister could well be on her way to setting a record of achieving the biggest single-year reduction in the government's fiscal deficit, explains A K Bhattacharya.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
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Infosys will develop software for managing the kumbh mela scheduled in Ujjain (Madhya Pradesh) in 2016, he told PTI in an interview.
According to a CII statement, Godrej mentioned that in the given economic condition, it would have been natural to seek a stimulus including reductions in excise and service tax rates.
Measures may include tax slab and rate revisions for individuals, companies.
The new Budget would do well to fill up the gaps and pave a strong way forward to ensure that the optimism surrounding it is not short-lived.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
The focus is likely to be on consolidation and improvement of existing rural-centric programmes to ensure their completion ahead of the next general elections in 2019, rather than announcement of new schemes. Sanjeeb Mukherjee and Arup Roychoudhury report.
At the pre-Budget meeting at Niti Aayog, Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy. The participants urged the government to focus on credit expansion, exports growth, governance of PSBs, increasing consumption and job creation.
The pre-budget exercise is scheduled to begin after Diwali holidays, from October 29, with Finance Minister Jaswant Singh starting consultations with various government departments.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
The government could look at providing deductions for expenses incurred by salaried employees while working from home in the upcoming Budget as it looks to boost demand, consulting firm PwC India said on Thursday. Addressing a pre-Budget session, Pwc India senior tax partner Rahul Garg said demand creation is particularly focussed on money being given or left in the hands of the individuals.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
The absence of a clear underlying economic ideology in the Budget was quite evident, say experts.
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
Everything about the way Delhi is governed needs to change, Delhi's Deputy Chief Minister Manish Sisodia tells Aditi Phadnis and Akshat Kaushal.
On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
Finance Minister Arun Jaitley is expected to present the Budget for 2014-15 in July.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
The event will be significant for the Congress and Trinamool Congress leaderships, cementing the proximity during the winter session of Parliament.
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