Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
Credibility of fiscal promises is a virtue that no finance minister can afford to lose.
Modi's government sees itself in a sweet spot with spare cash.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
'All of Indira Gandhi's bad economic ideas are being strengthened, from nationalised banks to anti-poverty, handout yojanas,' says Shekhar Gupta.
UP is an important state to roll out the government's agrarian reforms and job growth policies.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
A government that confuses PowerPoints for policy is delaying structural change too much.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
The two governments have already set a target of increasing bilateral trade in goods and services to $500 billion.
The government is determined to stop generation of black money, he said.
The auto industry expects lower taxes and interest rates from Budget 2015.
.jpg)
Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
'Pakistan's provision of safe haven to the LeT a will probably continue to be a key irritant in relations with India'
Budget is widely seen as a test of Prime Minister Narendra Modi.
Modi's party also wants to regulate property markets and tie investor money to specific projects to stop developers diverting cash elsewhere.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
'Union Budgets are often used as political instruments and that was the intention of this government too.' 'But while the exercise has settled two fronts, it has left open several others and this has the potential to aggravate with time,' predicts Nilanjan Mukhopadhyay.
AAP has promised lower electricity bills, free basic water supply.
Indebted developers are cutting staff as they slow work on existing projects and postpone new ones until they clear a backlog of 700,000 unsold homes
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
It is in circumstances like this that the Constitution becomes extremely important. It reminds us that we have a commitment towards higher human values to fulfil, a path to get back to, suggests Shyam G Menon.Else, we risk being rudderless in an ocean of money and majoritarianism, suggests Shyam G Menon.
One of India Inc's top demands is the abolishing of the MAT.
Flurry of economic reform suggests Modi realises his muscular nationalism script is getting jaded. Chances are he'll try for economic recovery but stick to what's worked so far, observes Shekhar Gupta.
The government is now contemplating issuing an executive order to implement these measures, which would need to be approved by lawmakers within six weeks of the opening of the next session of parliament, scheduled for the beginning of February. India's president would also need to agree.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
If Mr Modi has to win, he must convince the people of this country how his reforms improved the quality of their lives.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
The economy is growing at 7.5-8 per cent, the finance minister said.
If Modi's truly a reformer and a believer in minimum government, he would bury the Vodafone ghosts now. He would also then go to Bihar, campaigning on his politically controversial reforms. Both will need him to dip deep into his accumulated political capital and risk it, suggests Shekhar Gupta.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Jaitley promised higher investment in roads and railways.
To meet the target, agriculture must grow at 15% compared to average of below 2% over the past four years
Economists expect Modi to announce big-bang reforms.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances