What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
The extra borrowing implies Jaitley will have extra spending space in the Union Budget for FY19, the last full one before the 2019 general election
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
Opposition calls the Budget 'hollow and plain'.
The Union Budget announcement of a minimum support price (MSP) that will be 50 per cent more than the cost of production has started a debate on the calculation of cost. Ramesh Chand, member, NITI Aayog, speaks to Sanjeeb Mukherjee on this and related issues.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
Finance Minister Arun Jaitley presented the Budget today.
The opposition has attacked the Modi government over the National Democratic Alliance's last full-fledged budget before the 2019 Lok Sabha elections.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
February 6 or 8 likely options; development will be the main theme
'The BJP has everything to lose if it performs poorly in UP. It dreads a repeat of Bihar,' says Rajeev Sharma.
A provision of Rs 15,000 crore has been made in the budgetary estimate of 2016-17 towards interest subvention.
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
Prime Minister Manmohan Singh has directed Union Agriculture Minister Sharad Pawar to bring out a report on the state of Indian agriculture, to be presented to Parliament every year before the Union Budget.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
Farmer unions Monday announced a countrywide 'chakka jam' on February 6 when they would block national and state highways for three hours in protest against the internet ban in areas near their agitation sites, harassment allegedly meted out to them by authorities, and other issues.
The need for finding options for proper functioning of Parliament is of paramount importance as the frequency of the passage of Budgets and other economic Bills without discussion or debate has only increased in the last few years, notes A K Bhattacharya.
For the cooperation ministry, the government made a total budget outlay of Rs 1,150.38 crore for 2023-24, lower than the revised estimate of Rs 1,624.74 crore for 2022-23.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Rural budget set to increase; likely to enhance market linkages for agri commodities
Announcing MSP at an elevated level will not be enough. Growers must be able to procure inputs, such as quality seeds, plant nutrients and irrigation water at reasonable prices, says Kunal Bose.
This finance minister has come of age. That's not condescension. It is a praise, says Omkar Goswami.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
The Union Budget seems to have elicited a starkly opposite view from rural India compared to urbanites, says Mahesh Vyas.
The 50-share NSE Nifty was trading lower by 24 points.
'We need to put aside our anxieties about the Budget for now and possibly for long, and carry on as best as we can,' advises Shreekant Sambrani.
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
'On the tax front, most of the Budget proposals are sensible'.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
Jaitley's fifth Budget has provided little relief to the middle class.
Pensioners, India Inc may get tax breaks in Budget
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
The PM said that the Union Budget will accelerate the economic growth, financially empower every citizen and strengthen the foundation of the economy in the new decade.
Rajasthan Chief Minister Ashok Gehlot is determined to implement the Eastern Rajasthan Canal Project despite the Centre's indifference.
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