There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
The Supreme Court will hear on Tuesday NCP leader Mohammed Faizal's plea against the Lok Sabha Secretariat for not withdrawing a notification disqualifying him as an MP upon his conviction and 10-year sentence that was later stayed by the Kerala high court.
The cross-Line of Control surgical strikes, policy towards Pakistan, the situation in Jammu and Kashmir, besides One Rank, One Pension and the plight of farmers were also among issues that were raised at the meeting with parties demanding discussion on them.
Railway Minister Pawan Kumar Bansal did not hike passenger fares.
The government says MPs will be busy campaigning in Gujarat. The Opposition counters this, saying campaigning for elections in 5 states was held in the midst of the Budget session earlier this year.
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
Law Minister Kiren Rijiju said on Monday the government does not "disturb" the personal freedom and activities of individuals but the issue related to the institution of marriage was a matter of policy.
AAP leader and Delhi minister Atishi made the allegations against the agency at a press conference and called the entire probe a "scam" in itself.
Sitharaman is presenting the full Budget for 2019-20. She is carrying the Budget documents in a red silk bag with national emblem.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
The strike was supposed to affect about 23 million passengers.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
The move is a continuance of the government steps to clamp down on black money.
The General Budget will be presented on July 6 and the Railway Budget will be presented on July 3.
Congress leader Rahul Gandhi has written to Lok Sabha Speaker Om Birla to allow him to speak in the house over his democracy remarks made in London, sources said on Monday.
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under the new tax regime is to gradually "do away with deductions and exemptions" so that the "long-standing demand of reduction of taxes for individual taxpayers and entities can be met." Finance Minister Nirmala Sitharaman, while presenting the Budget 2023-24 in the Parliament on Wednesday, said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
The collection from borrowings and other liabilities will be 20 paise, while income tax will yield 17 paise to every rupee collection.
The prime minister was often seen vigorously thumping the desk, prompting his Cabinet colleagues and NDA MPs to follow suit.
Outlining the roadmap to achieve 7-8 per cent economic growth on sustained basis, the Economic Survey on Wednesday indicated major initiatives in the Union Budget to overhaul tax system, slash deficit, contain prices and boost agriculture.
Prime Minister Manmohan Singh hailed the Union Budget 2009-10, which was presented by Finance Minister Pranab Mukherjee on the floor of the Parliament on Monday.
A day before her scheduled appearance before the Enforcement Directorate in the Delhi excise policy case, Bharat Rashtra Samiti leader K Kavitha led a hunger strike here on Friday seeking the passage of the long-pending Women's Reservation Bill in this Budget session of Parliament.
Assuming we still have a Modi-led majority government after May 2024, there is no guarantee that reforms will move at anything more than a snail's pace, though we must be thankful even for that, notes R Jagannathan.
A case of criminal conspiracy, corruption practices and undue influence on election has been registered on the complaint of two Congress MLAs, police said on Sunday.
Union minister Ananth Kumar alleged that the Congress was increasingly becoming intolerant of people's mandate for the Modi government.
The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward. As part of the inclusive development, the government will promote the use of 'Kisan Drones' for crop assessment, digitisation of land records and spraying of insecticides. The government will also facilitate a fund with blended capital raised under the co-investment model through Nabard to finance agri start-ups and rural enterprises, she said.
The ministry of minority affairs informed the Lok Sabha that in 2022-2023, it had been allotted Rs 5,020.5 crore (Rs 50.20 billion); in the Revised Estimates, it had got Rs 2,612.66 crore (Rs 26.12 billion); and had spent, until the end of March this year, Rs 712.5 crore (Rs 7,12 billion).
Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.
Finance Minister Arun Jaitley has announced no new taxes in the Delhi Budget.
The markets tanked 209 points after Finance Minister Pranab Mukherjee tabled the Union Budget in Parliament on Friday. Economic Affairs Secretary R Gopalan defends the measures, saying the markets will need time to comprehend the measures.
Indian bond yields may not spike if the government opts to increase spending when it unveils its annual budget in late February.
The Budget 2013 will be placed in the Parliament on February 28. Though the Budget this year is expected to be exceptionally austere, the corporate honchos have dished out their wishlists.
Can Jaitley's team hope to garner 17% more on personal income tax?
In an exclusive column to Rediff.com, CPI-M general secretary Prakash Karat explains what is wrong with the Union Budget 2011-12 that Finance Minister Pranab Mukherjee presented in Parliament on Monday.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy "so it's another five years.We are already in (the year) 2023. "So 2027-28, India should be the third-largest economy," Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview in New York.
Mukherjee presented the Union Budget in the Parliament on Friday.
A day after the Budget was presented, chaos is expected to return to Parliament on Tuesday with the Opposition prepped to target Education Minister Smriti Irani in both Houses over her statements on the death of Hyderabad Central University student Rohith Vemula and the Jawaharlal Nehru University controversy.
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