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.
Can Jaitley's team hope to garner 17% more on personal income tax?
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.
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.
Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.
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.
Mukherjee presented the Union Budget in the Parliament on Friday.
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.
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.
Combating inflation, protecting the common man from the impact of rising food prices and sustaining the momentum of economic growth while ensuring the poor get a fair share of the "fruits of growth" are among the government's "foremost priorities" in 2011-12, President Pratibha Patil said in her address to Parliament this week.
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.
India's economic growth is estimated to have slowed down to 11-year low of 5 per cent during the current financial year ending March 2020.
He said the government proposes to extend Pradhan Mantri Kaushal Kendras to more than 600 districts across the country, from 60 districts at present.
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).
The current cost of the food subsidy is Rs 1 trillion.
For the first time, large display screens and consoles for participation from galleries, ultraviolet germicidal irradiation, special cables between the two Houses and polycarbonate separators will be in place.
Union Finance Minister Pranab Mukherjee on Friday presented his fifth budget in Parliament on Friday but Morarji Desai holds the record of doing so 10 times.
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.
The FM could scrap the secrecy around tax rates.
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.
According to highly placed sources, Congress president Sonia Gandhi on Monday shared her plans regarding Telangana with Andhra Pradesh Chief Minister Kiran Reddy in Delhi. Reddy is also believed to have taken up the matter with the top political leadership.
There is a serious move afoot to reschedule the second half of the budget session of the Parliament with sources disclosing that leader of the Lok Sabha and Union Finance Minister Pranab Mukherjee would discuss the rescheduling of dates in the meeting of floor leaders of political parties which he has called on April 5.
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.
Over the last 50 years, the number of sittings of Parliament has been declining and has halved since the 1950s and the 1960s, the report stated.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
The government has introduced the Code on Wages Bill 2019 and the Occupational Safety, Health and Working Conditions Code Bill 2019 in Lok Sabha on July 23.
Parliament proceedings were adjourned amid ruckus and sloganeering by the Opposition members over the Adani issue.
On Friday govt increased the petrol price by Rs 1.40 a litre.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
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 Reserve Bank will launch the first pilot for retail digital rupee in Mumbai, New Delhi, Bengaluru and Bhubaneswar on December 1, and later expand it to nine more cities in the initial phase. This follows a month after the RBI had started a pilot in the digital rupee - wholesale segment on November 1. The Reserve Bank announces the launch of the first pilot for retail digital rupee (e?-R) on December 1, 2022, the central bank said in a statement on Tuesday.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Addressing the BJP parliamentary party meeting, Modi said he relished all these challenges during the pandemic and the country also overcame them.
The opposition has a whole host of issues to target the government.
The major central trade unions demanded that the Centre take steps to "negate" the impact of the SC judgement banning strike by government employees. They will also observe the opening day of budget session of Parliament as national protest day.
The government on Friday sought Parliament's nod for an additional Rs 54,000-crore spending mainly to meet its obligation towards GST compensation to states and defence-related expenditure. Minister of State for Finance Anurag Thakur presented the second and final batch of supplementary demands for grants in the Lok Sabha.
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