'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
The RBI on Tuesday maintained status quo on interest rates, saying there have been no developments to warrant further easing since an unscheduled rate cut about a fortnight ago.
Do the actual numbers bear out the claims made by the government or do they suggest something else? asks A K Bhattacharya.
Participating in the debate on the budget, leaders of parties like the Congress, Bahujan Samaj Party, Aam Aadmi Party and Left launched an all-out attack on the BJP government for allegedly selling off the country's assets and PSUs to big industrialists.
The Union Budget 2016-17 has cheered the NBFC sector
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.
Leader of the Opposition in the Lok Sabha Rahul Gandhi asserted that the Congress will protect the Constitution and the reservation system at all costs and foil "conspiracies" of the Bharatiya Janata Party.
The outlay for defence sector almost remained unchanged compared to what was allocated in the interim budget on February 1.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
The entire census and NPR exercise is likely to cost the government over Rs 12,000 crore, the officials said.
The 50-share NSE Nifty was trading lower by 24 points.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
The stormy second part of Budget Session continues. Both houses of Parliament have been facing continuous protests by opposition parties over issues like fuel price hike.
A likely easing in inflationary pressures in the forthcoming months will reopen the window for the RBI to once again prioritise growth and ease its interest rates.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
Stocks might hit new highs even before B-Day.
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
'Patients under the scheme may ultimately have to go to private hospitals.'
Finance Minister Arun Jaitley did a balancing act in the Union Budget 2015.
The capital outlay for the three services, for modernisation, stood at Rs 78,586.68 crore
The govt could allow start-ups and e-commerce cos to appropriate initial brand building expenses over several years for accounting benefits
This Budget will be a litmus test of the government's resolve to ensure Make in India strategy works
The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).
The Rajya Sabha is slated for a 12-hour discussion on the Motion of Thanks to the President's address to the joint session of the two Houses of Parliament, which also includes the reply by the prime minister, which is likely next Tuesday.
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
Nearly a third of an average Indian citizen's consumption budget is spent on food.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
Recent derailments had brought the vulnerability of the national carrier into the limelight. For the railways, the fund allotment of Rs 1 lakh crore towards safety, is a welcome move, says Subrat Nath.
Hussain said the new government had inherited an "empty treasury" while the prices of oil were shooting up.
Demand among several pre-Budget representation by BSE Brokers' forum
Pensioners, India Inc may get tax breaks in Budget
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 government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
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