The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
President Pranab Mukherjee gave a touching farewell to 'gentleman' Manmohan Singh, recalling their four-decade-long association from Singh's bureaucracy days till he became the prime minister.
Indian Economy poised for growth, say experts.
On Wednesday, the rupee had dropped by 26 paise.
Last year this time, India was grappling with an imminent sovereign downgrade, with an uncontrolled fiscal deficit, policy paralysis of the highest order with no economic reforms for eight long years and a weakening rupee.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
The brokerage said it has high hopes for recovery and reforms following the general elections.
The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
More than 30 entities, including brokers and high net worth individuals, have come under the scanner of market watchdog Sebi for unusual trading activities on the day of Lok Sabha election results.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
Slow pace of reforms in India is disappointing: Faber
India's manufacturing PMI rose to 54.5 in December, 2014, while in the corresponding period a year ago it stood at 50.7, just above the crucial 50 mark which separates growth from contraction.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
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The basis of Ind-Ra's expectation of INR appreciation is based on economic developments in the last one to two months of this fiscal and the likely developments in the remaining months.
The country's near-term outlook hinged on a benign inflation trajectory, uptick in industrial activity and falling crude oil prices
Budget has several small steps which will boost growth
The partially convertible rupee closed at 61.45/46 per dollar, weaker from Wednesday's 61.35/36.
While some CMs suggested reopening economic activity in phases, others pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy
Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced.
There are glaring anomalies with Indian data and that could lead to wrong policy prescriptions.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
RBI is expected to slash rates by 150 basis points till end-December 2016.
ADB projected China's growth to decelerate from 7.4 per cent
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
WPI inflation, which was in the negative zone from November 2014 to March 2016, has been on an upward trend for the seventh straight month
'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
The HSBC Manufacturing Purchasing Managers' Index fell to 51.3 in April from March's 52.1
Kenneth Rogoff, professor of public policy and economics at the Harvard University, tells Dilasha Seth on the sidelines of the Delhi Economics Conclave that public sector banks will need to take a one-time haircut to address non-performing assets.
For a long time, the Indian economy has been drifting without a credible monetary anchor.
The abolition of wealth tax is again a welcome step.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
The government has taken a number of steps to address the situation faced by farmers.
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