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.
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.
Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
The contentious anti-corruption Lokpal bill will come up for discussion next month in Parliament after the ongoing one-month recess of the budget session, Union Minister V Narayanasamy 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 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.
'One thing is sure: After this Budget, no Ambani-Adani tag will be attached to the government.'
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
For the first, Jaitley said the Parliament held a comprehensive debate on sanitation.
Several members in a parliamentary panel have pitched for quick implementation of the Centre's proposed move to double salary and allowances of MPs and insisted that report of any government-constituted committee on the matter must be channelled through it.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
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.
Congress leader Adhir Ranjan Chowdhury raised the Karnataka issue and accused the ruling party of 'poaching' its MLAs in the state.
The PMO should also present an annual report, on the state of politics and society
Borrowing at 29 paise will account for the largest share of every rupee that the government will use for financing the Union Budget 2010-11, while will it spend the most - 21 paise - on central plan.
Earlier, the chief minister of Punjab had written in the same vein to the prime minister.
Presenting the Union Budget for the year 2012-13, the Finance Minister informed the Lower House of Parliament that the enrolments into the other system have already crossed 20 crore (200 million) and the Aadhaar numbers generated upto date has crossed 14 crore (140 million).
Parliament proceedings were adjourned amid ruckus and sloganeering by the Opposition members over the Adani issue.
'The clubbing of policy announcements in the Budget speech creates policy surprises.' 'Economic actors dislike policy surprises because they throw their plans off track,' points out Alok Tiwari.
The government said on Friday a Bill to amend the Companies Act, 1956, will be introduced in the Budget Session of the Parliament next year, while the new accounting standards for firms in India is expected to be in place by January next year.
Presenting the Union Budget in Parliament recently, finance minister Pranab Mukherjee proposed estimated divestment proceeds of Rs 1,120 crore (Rs 11.2 billion) for 2009-10, which includes divestment in Rail India Technical and Economic Services, Cochin Shipyard Ltd, Telecommunications Consultants India Ltd, Manganese Core India Ltd, Rashtriya Ispat Nigam Ltd and Satluj Jal Vidyut Nigam Ltd.
The bill to set up an Airport Economic Regulatory Authority, which will fix tariffs for different agencies involved in airport operations and management, will be introduced in the budget session of Parliament next year.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. Finance minister P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1. The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1.
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a "threat to macroeconomic and financial stability" and cautioned investors against punting on them, days after the Union government's move to tax the gains made from cryptocurrency trades. In the Union Budget for 2022-23 presented in Parliament on February 1, the government proposed levying a 30 per cent tax on gains made on cryptocurrency trades by investors and the announcement was welcomed by cryptocurrency industry players, saying it legitimises their trades. Das invoked the 17th century 'tulip mania', widely considered to be the first financial bubble, to caution investors, saying the cryptocurrencies do not even possess the value of the exotic flower.
Aditya Birla Money MD talks about liquidity concerns in the market.
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.
Union Textiles Minister Dayanidhi Maran has hailed the Budget proposals-2010-11 presented in Parliament on Friday. The minister said that these initiative for the textiles sector as a growth spurring initiatives , which dovetail with economic revival, infrastructure development, agriculture development, inclusive growth and restoring export growth.
The Rajya Sabha on Wednesday approved the bill giving primacy to Delhi's Lieutenant Governor (L-G) over the elected government after high drama in the House that saw uproar by the opposition and a walkout by MPs of parties like the BJD, SP, Congress and the YSRC.
Pranab Mukherjee's speech was so boring that half of the Treasury benches were found napping. Newsmen peeped from the Press Gallery to see the mood of the MPs.
Jaitley said an effective multi-modal logistics and transport system will "make our economy more competitive.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
The much-delayed Women's Reservation Bill may not come up in the Budget session of Parliament as it has to be scrutinised by a new Parliamentary panel. A Union minister, who declined to be identified, said work needed to be done on the Bill which was before the Standing Committee on Law and Justice.
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.
Cheer up, the coming Union Budget might just make your imported tipple more affordable - on a par with local booze.
What would you like the finance minister to do in this Budget? Tell him.
In the wake of uproar over the massacre of 76 security personnel in a Naxal attack in Dantewada, Chhattisgarh, both the Houses of Parliament were adjourned till 2 pm on Thursday.
Union Finance Minister Pranab Mukherjee, while presenting the Union Budget in Parliament on Monday, announced that it is proposed to add one handloom mega cluster each in West Bengal and Tamil Nadu and one powerloom mega cluster in Rajasthan.
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