'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
If the real economy is indeed looking up, then it no longer needs hand-holding and fiscal laxity
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
It was 55.3 per cent for the same period last year, and data shows the fiscal deficit for April-May was kept in reasonable check in spite of heavy frontloading of expenditure.
Union budget was mildly for cable broadcasting industry and DTH.
It has decided not to levy the 2 per cent tax deducted at source (TDS) on cash payments above Rs 1 crore made through Agricultural Produce Market Committees.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
The duty reduction in feedstock would strengthen the domestic manufacturing in India making it more competitive leading to surge in exports of finished goods.
Besides Budget, markets will be driven by global events and the outcome of assembly elections.
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.
Reaching out to the youth of the Kashmir Valley, Prime Minister Narendra Modi on Sunday spelled out initiatives for peace and development, and assured they will not inherit the problems faced by their parents and grandparents.
The government's main rate setting panel suggested that this be done in two tranches of Rs 2,500 each in the kharif and rabi seasons.
The Centre has sought five names from the Samkyukt Kisan Morcha (SKM) to be included in a committee for discussion on a host of issues, including MSP, and the umbrella body of farmer unions will decide those in its December 4 meeting, farmer leader Darshan Pal said on Tuesday.
'What is most distressing is that the revival of the economy, creation of more employment, and reducing poverty are not on the agenda of the government at all.' 'We are an economy on the verge of a demographic disaster.'
This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Credit growth of scheduled commercial banks had accelerated to 9.2 per cent year-on-year (YoY) by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020.
'Today arrogance of power has gone to your head. Why are you losing the mandate? We are endorsing all rotten policies of the Congress which is not in our interest. Leakage in drops of water from a pitcher empties it. So is with the mandate'
A panel will examine the merits and demerits of various dates for the commencement of the financial year.
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
Sustained rural poverty can't be eradicated without capacity building.
When was the last time we heard this government speaking of the disaster in primary education, rather than Ganga cruises and cheetahs? Less money -- Rs 88,000 crore -- was spent by the Union government on education in its last Budget than has been allocated to the Bullet train, notes Aakar Patel.
With the industrial production dragging the overall growth down, it said the government must also focus on the manufacturing sector by reducing the "infrastructure deficit".
The negative balance is largely on account of pending material cost for the work done under the programme during the year and even earlier.
Chief Economic Advisor Arvind Subramanian's interview.
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
Budget in the medium term aims to kick-start the investment cycle.
The Congress had on Friday extended support to the countrywide 'chakka jam' called by the farmer unions, saying party workers will stand shoulder to shoulder with farmers in their protest.
The Ministry of Finance or Commerce would certainly need a larger hospitality budget than the Ministry of Agriculture.
The prime minister also asked senior ministers to hand-hold the new incumbents, sources said after the meeting.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
Is the Budget sufficiently prudent? It probably is but at the cost of substantial under-provisioning for the many grand sounding schemes announced in it, says Nitin Desai.
Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
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