'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
The session, which was earlier scheduled to conclude on April 3, is now likely to be adjourned sine die on March 23, sources said.
The BJP would want that by March 2022, when UP votes, the economy starts looking up and it heads into the polls with no other issue distracting from its main poll plank of the construction of the Ram temple in Ayodhya.
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
Following the Budget being announced by Finance Minister Arun Jaitley, leaders across the political spectrum provided their views.
The police detained five women and Shree Rajput Karni Sena president Mahipal Singh Makrana before he could meet them in Ahmedabad.
These new coins will be made available for public use shortly, said Sitharaman.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union minister Ashwini Vaishnaw has said. The government on Wednesday withdrew the Personal Data Protection Bill from the Lok Sabha. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary, had tabled its report in Lok Sabha on December 16, 2021.
As the 240-seater prime minister attempts to moderate his image of hardline hero, he has made room for others to elbow in and that is what is happening. And that it what will continue to happen from inside the BJP, notes Aakar Patel.
Pensioners, India Inc may get tax breaks in Budget
To corner the Manmohan Singh government in the Budget Session of Parliament, a united opposition today demanded a debate on price rise on February 23, before the Railway Budget and the Union Budget are placed in the Lok Sabha.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
The EPFO has about 3.7 crore (37 million) members.
She is reportedly suffering a stomach ache, a source close to Gandhi said.
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
The additional amount will be exclusively earmarked for the hospitality and related segments to help them recover to pre-pandemic levels. Presenting the Budget 2022-23 in Parliament, the finance minister said the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme will be revamped with required infusion of funds.
Sparks flew on the first day of the debate on the no-trust motion moved by the Congress with the Opposition on Tuesday asserting that it was forced to do so to break Prime Minister Narendra Modi's 'maun vrat' (vow of silence) on Manipur and the treasury benches hitting back saying it was a no-trust vote against a 'poor person's son' who has worked for the welfare of the people.
India's first digital rupee pilot project will commence on Tuesday with nine banks, including SBI, HDFC Bank and ICICI Bank, issuing the virtual currency for transactions in government securities. "...the first pilot in the digital rupee - Wholesale segment shall commence on November 1, 2022," the RBI said in a statement on 'Operationalisation of Central Bank Digital Currency-Wholesale (e?-W) Pilot'. It also announced that the first pilot in digital rupee - Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
The sports ministry, on Thursday, received a hike of Rs 258.2 crore in the union budget for 2018-19, presented by finance minister Arun Jaitley in the Parliament in New Delhi.
The party said it is "considering opposing" the proposal for taxing the PF corpus in Parliament.
Dining and drinking out will be expensive.
Consensus seems a problem before the current session of Parliament ends.
The nod by the Heritage Conservation Committee came nearly a week after the Supreme Court asked the Centre to seek prior approval from the panel and other relevant authorities before starting construction of the new parliament building.
The major focus of this year's Economic Survey was on pushing economic growth, which has been projected by the Central Statistical Organisation at 5 per cent for this fiscal, sharply lower than the original estimate of 7.6 per cent (+/- 0.25 per cent).
Finance Minister Pranab Mukherjee said this while presenting the Union Budget in the Parliament on Friday.
Scrapping Plan and non-Plan classifications necessitates the change
Naidu asked members to keep the prestige and the decorum of the House and said they should feel privileged to be in this House because of the people's trust on them.
The assertion comes amid speculation that the ruling party in Andhra Pradesh might rethink its ties with the BJP in view of its disappointment over allocation of funds to the state in the Union Budget.
Parliamentary Affairs Minister Pralhad Joshi on Friday met Congress parliamentary party chief Sonia Gandhi, seeking her party's cooperation for smooth functioning of the Parliament session beginning June 17.
The government is also looking to earn 8 paise for every rupee from Union excise duty and 3 paise from customs duty. While, income tax will yield 14 paise to every rupee collection.
The Budget Session of Parliament commences on January 31 and the first leg will go on till February 13.
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
Government's objective is to bring down the cost of cultivation through efficient use of fertilisers and agro chemicals, and increase in realisation. It is, thus, planning to connect 200 agricultural mandis with electronic National Agricultural Mandis this year and 225 next year, to enable farmers to sell their produce hassle-free online.
A strong showing will be vital to Narendra Modi's chances of a second term.
The best way for the railways to become more professional will be to get corporatised.
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