Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Referring to long-pending insurance bill, he said "we are on the verge" of opening the sector a little more.
The win in UP is especially significant because UP assembly members carry the maximum value of votes in a Presidential election, given the fact that the state is India's most populous.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
The Budget sets out a comprehensive vision.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Javadekar asserted that the first 50 days have shown that Modi government's second term will be more effective and will build on the success of its previous tenure.
The upward revision in growth forecast for current fiscal comes in the backdrop of GDP expanding 8.2 per cent in April-June quarter, higher than Fitch's expectation of 7.7 per cent.
Fiscal federalism should not be sacrificed at the altar of GST.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
BJD MP Baijayant Jay Panda has written that 'reforms must reduce the Rajya Sabha's power to block the popular mandate'
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
Govt can advance the dates of the convening of the monsoon session of Parliament to early July
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
Grains, non-mineral water might be on the list; biscuits, butter and cheese might attract GST
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
This time, the global appetite for risk is in favour of India.
With tempers rising on intolerance, it will be hard to run House proceedings.
Last week, a Rajya Sabha committee had allocated five hours for discussion on GST.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
On the stalled goods and services tax bill, Modi said the Congress has made it a prestige issue but expressed confidence that the evolving arithmetic in Rajya Sabha would ensure that the legislation would be passed soon.
Cong leaders speak in two voices but final stand may be decided at a meeting headed by Rahul Gandhi next week
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
"This rationalisation is 3-4 month exercise," he said, adding that the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
The macro-economic situation has been brought under control: Godrej.
The government had breached its fiscal deficit target given in the Budget for 2017-18 in November itself, touching 112 per cent of the limit.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
RBI governor Raghuram Rajan is likely to cut rates in next monetary policy.
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
Asked about the Congress's opposition to the GST Bill, Santosh Kumar Gangwar said no party opposes GST outside Parliament.
The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
FMCG, durables, pharma firms say they remain unclear about transition gains and losses
'I don't know how long the small-scale handmade sector can survive,' a shoemaker from Hisar tells Geetanjali Krishna.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
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