For its development, India needs a movement akin to the freedom movement, Prime Minister Narendra Modi said on Saturday.
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
'Interim Budget has ignited the entrepreneurial spirit.'
He said that efforts were being made either to close or man such crossings in the next two years.
The Railways will also add two to four 'Deen Dayalu' coaches to some long-distance trains for unreserved travel to enhance the carrying capacity
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
The government on Wednesday said it will raise Rs 72,500 crore through disinvestment of PSUs, including listing of three railway PSUs IRCTC, IRFC and IRCON, and proposed merger and consolidation to create globally competitive public sector units.
BSE Oil & Gas index declined by almost 2.5% followed by counters like Auto, Capital Goods, PSU and Metal, all plunging by almost 2% each. Apart from IT and FMCG, all the major BSE sectoral indices are trading in red zone.
Suresh Prabhu on the priority being given to safety and the need for more funds for railways to move ahead.
The Union Budget, while keeping the service tax rate unchanged at 10 per cent, has expanded its ambit to include services provided by legal consultancy and advisory firms. The tax would, however, not be applicable if the service provider or receiver is an individual.
Recommending an end to all cesses and surcharges on taxes, and free pricing of fertiliser and fuel ahead of the Union Budget for 2009-10, the Economic Survey on Thursday suggested aggressive divestment and financial sector reforms to bring the economy back to high growth track.
The recommendations will benefit 47 lakh central government employees and 52 lakh pensioners.
Accelerated development of highways will be taken up with 2,500 km access controlled highways and 9,000 km of economic corridor. In addition, there will be 2,000 km each of strategic highway projects and port connectivity projects, she said.
Indian economy about to take-off
Though the Railways is yet to declare any five-year action plan, it is clear the government is not in a position to hand-hold it for any major expansion or upgrade. The issue, however, is how far the Railways can function within the PPP format. Recent history highlights some of the challenges.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
'Making the railways better is a different type of a challenge.'
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
At an event at Chhatrapati Shivaji Maharaj Terminus in south Mumbai, Modi first flagged off the the CSMT-Solapur Vande Bharat Express and later another semi high-speed train linking the financial capital to Sainagar Shirdi temple town in Ahmednagar district.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Railways, rural infrastructure, urban rejuvenation, solar and transmission and distribution of electricity are the new priorities, says Vinayak Chatterjee.
Congress leader Rahul Gandhi on Monday said his party would conduct a "caste census" if elected to power as only such an exercise would ensure the "participation of OBCs, Dalits, tribals and women".
Uttam Ghosh on how rail passengers will benefit from the Railway Budget.
Modi claimed that some other parties were also helping the opposition alliance from behind but any vote for them will take Tripura several years backward.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
'There is tension between the zones all the time.'
Outlining the Budget estimates for the coming year, the Railway Minister Suresh Prabhu put the plan size at Rs 1.21 lakh crore.
Modi govt must bring about reforms to kick-start big-ticket infra projects.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Economist Arvind Panagariya is the vice-chairman of NITI Aayog, while economist Bibek Debroy and scientist V K Saraswat are the two full-time members of the Aayog.
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
FMCG, automobile industries say if GST regime kicks in, rail hubs can take Make in India to a new high.
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
Arun Jaitley presented the Union Budget in Parliament on Saturday.
Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people: FM
Noting that the new trains will connect the culture of Telangana and AP, Modi said Vande Bharat symbolises new India's resolution and capabilities.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
Jaitley has managed the difficult feat of sticking to the fiscal correction.
