Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
The report highlights that India's population in 2036 is expected to be more feminine compared to the 2011 population, as reflected in the sex ratio which is projected to increase from 943 in 2011 to 952 by 2036, highlighting a positive trend in gender equality.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
As rural areas see a rise in COVID-19 cases, the Centre on Sunday issued new guidelines for containment of the virus advising that peri-urban and rural areas plan a minimum 30-bedded COVID Care Centre for asymptomatic cases with comorbidities or mild cases where home isolation is not feasible.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
Ganesh Joshi also credited Prime Minister Narendra Modi for the smooth conclusion of Rahul Gandhi's Yatra in Jammu and Kashmir.
'With passage of time, Kamal did move away from the humdrum of commercial cinema, using it only as a peg to launch a new concept or new technology, as no other actor/film-maker has done in Indian cinema.' N Sathiya Moorthy assesses the career and politics of movie legend Kamal Haasan on his 70th brthday.
Although large companies like Nestle, Dabur or HUL have been impacted by this slowdown in demand, it was the small, local players that have been hit harder.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, saying elevated consumer confidence will drive spending, besides increased investments. In June update to its global economic outlook report, Fitch said it expects inflation to decline to 4.5 per cent by end of this year and RBI to cut policy interest rates by 25 basis points to 6.25 per cent.
Sources in the Rural Development Ministry said the actual expenditure incurred in 2020-21 will be higher than the allocated funds and it will at least be at par with this year's total estimated expenditure of MGNREGS.
Villagers suggested that heavy rainfall over the preceding days may have contributed to the collapse, with a surge in Gandaki river potentially weakening the bridge's structure.
All eyes will be on whether Sitharaman provides the much-expected tax relief for the middle class, leaving more money in their hands, as there is tax buoyancy
Within a week of assuming power, the Congress government in Karnataka has expanded its cabinet on Saturday, filling all posts.
Shivakumar has got the all-important Major and Medium Irrigation and Bengaluru City Development, including the Bruhat Bengaluru Mahanagara Palike (BBMP), Bangalore Development Authority, Bangalore Water Supply and Sewerage Board, Bangalore Metropolitan Region Development Authority and the Bangalore Metro Rail Corporation Limited.
Aseem Chhabra's Top 10 Films/ Series from TIFF 2024 includes films that he watched for the first time in Toronto. The films were impressive due to their rigor, passion, unique storytelling style and sometimes exploring the vulnerable sides of big name stars.
Ten ministers were inducted into the Mann-led cabinet on Saturday.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
The Delhi high court on Monday asked the Centre to file reply on a plea seeking linking of immovable and movable property documents of citizens with their Aadhaar numbers to curb corruption, black money generation, and benami transactions.
Patel was administered the oath as the 18th chief minister by Governor Acharya Devvrat at a function held at the Helipad Ground near the new Secretariat.
'Election funding needs a little more transparency.'
Chandrababu Naidu's victory comes barely eight months after his political career seemingly crashed in September 2023 when the YSRCP government arrested him in an alleged corruption case.
The finance ministry on Wednesday reimposed expenditure curbs on ministries and government departments for July-September quarter. There will be no spending restrictions on the ministries of health, rural development, agriculture, MSME (micro, small and medium enterprises) and railways as part of a two-pronged strategy. "The existing guidelines for expenditure control have been reviewed. "Keeping in view the evolving situation arising out of Covid-19 and anticipated cash position of the government, it is felt essential to regulate Quarterly Expenditure Plan (QEP)/Monthly Expenditure Plan (MEP) of specific ministries/departments for July-September, 2021," the Department of Economic Affairs in the finance ministry said in a notification.
Since Kakuda is made for OTT, the film might find its audience of horror fans but it is not particularly scary, and not the least bit funny, observes Deepa Gahlot.
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
Nitish Kumar wants to assure the BJP leadership that he will continue to be a part of the NDA. But he also wants to secure a larger number of seats for his party in the 2025 assembly elections in Bihar.
Of those who were willing to pay, two-third said they can pay up to Rs 500 for two doses of the vaccine, whenever it is available.
Suu Kyi will be accompanied by Union Rural Development Minister Jairam Ramesh and Chief Minister N Kiran Kumar Reddy will visit, official sources said in Hyderabad on Wednesday.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
He said the truth will come out from the investigation and asked the opposition Congress, which is demanding Eshwarappa's arrest, not to become investigators, prosecutors and judges themselves.
The 15 ministers were sworn in on Sunday for the expanded Gehlot cabinet, fulfilling a key demand of former deputy chief minister Sachin Pilot whose rebellion last year shook the state's Congress government.
Legislators of the ruling coalition partners in Jharkhand expressed solidarity with the Hemant Soren government on Wednesday and said the Jharkhand Mukti Morcha leader will continue as the chief minister.
'We are expected to grow at above 28 per cent this year, higher than the industry.'
The rural development ministry has come in direct conflict with the communications ministry, which has refused to accept its request for disbursing wages under the rural job scheme through post offices without charging any fee.
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