'No Budget has so far has addressed the issue of the government's abysmal productivity of capital spending, improving which will be the big game changer. 'But, the government's tight lock on businesses, banks, education, and even essential services like transportation and large parts of infrastructure and healthcare is destroying capital year after year,' points out Debashis Basu.
Opposition parties on Friday criticised the government's decision to hike railway fares terming it as "criminal" to burden the people with such an increase and questioned as to why Parliament was not taken into confidence before taking the step.
Modi's government sees itself in a sweet spot with spare cash.
Venting his anguish over disruptions in Parliament, Prime Minister Manmohan Singh on Wednesday said his heart bleeds over what is happening in the House and it is sad for democracy.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Shah said the Opposition's 'irresponsible' conduct caused a loss of over Rs 333 crore of public money and the ruling National Democratic Alliance MPs' decision to forgo their salaries was a 'call of conscience'.
The year 2015 has seen eight accidents because of derailments.
Finance Minister Pranab Mukherjee said this while presenting the Union Budget in the Parliament on Friday.
Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget.
Even as the Congress tired to shield Rahul Gandhi's surprise sabbatical ahead of the crucial Budget session, senior party leader Digvijaya Singh questioned his timing openly.
The monsoon session of parliament is all set to begin on July 21, but it will be a truncated three-week affair.
Can Jaitley's team hope to garner 17% more on personal income tax?
Prime Minister Narendra Modi has rejigged his team only once, in July 2021, in his second term, unlike in his first stint, when he reshuffled and expanded his council three times.
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Railway Minister Suresh Prabhu said that the common people have always been the focus of all initiatives by the Indian Railways.
Hussain said the new government had inherited an "empty treasury" while the prices of oil were shooting up.
The cross-Line of Control surgical strikes, policy towards Pakistan, the situation in Jammu and Kashmir, besides One Rank, One Pension and the plight of farmers were also among issues that were raised at the meeting with parties demanding discussion on them.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
The session spread over ten sittings is essentially for taking a vote on account on Railway and General Budgets but being the first one during the year, it will begin with the President's address on the opening day. An inkling of the shape of things to come was evident when the ruling Congress and main opposition BJP virtually kicked off their poll campaign on Sunday, taking on each other on issues like terrorism, unemployment and inflation.
Finance Minister Arun Jaitley announced slew of reforms for the masses.
Outlining the Budget estimates for the coming year, the Railway Minister Suresh Prabhu put the plan size at Rs 1.21 lakh crore.
The government is scrambling to contain the fiscal deficit at 4.1 per cent of GDP in the fiscal year ending March
Institutions will wait till there is more clarity on Budget.
The last session of the current Lok Sabha beginning on Thursday is expected to be stormy with political parties likely to extract the maximum mileage ahead of the general elections.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
For its development, India needs a movement akin to the freedom movement, Prime Minister Narendra Modi said on Saturday.
Rajya Sabha will sit for late hours in last week of the first half of the budget session from Monday to clear the pending legislative and other businesses.
Jaitley, who was the finance minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and final Budget of the Narendra Modi government before the general elections. In his absence, the charge of the ministry was given to Railways Minister Piyush Goyal.
This Budget plans for an increase to 10.3% of GDP from 9.9%.
India as a large country should have inter-modal connectivity, which will help us make travel easier, safer and seamless. That is how you will also gain. You will gain more money, make more revenues, says Praful Patel.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Jaitley promised higher investment in roads and railways.
She also took a swipe at the Bharatiya Janata Party over its defeat in the just-concluded Himachal Pradesh assembly elections, saying the ruling party's president could not hold on to his home state. "Who is the Pappu now?" she asked.
Most expect the Budget to be path-breaking.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
It is unclear if he would be renamed the finance minister soon after his return.
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