While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
'And this will persist given the two-and-a-half-front threat we face.'
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
The Delhi assembly which held 74 sittings over its five-year term, met for an average of 15 days a year. On the days it met, the assembly sat for an average of three hours.
India's Finance Minister Nirmala Sitharaman has announced an ambitious plan to develop the country's top 50 tourist destinations in a "challenge mode", with the aim of boosting employment-led growth and attracting international visitors. The Ministry of Tourism has received a significant budget increase for 2025-2026, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women. The government plans to promote homestays, improve connectivity to tourist spots, and provide performance-linked incentives to states that demonstrate effective destination management. The budget also includes investments in public enterprises, skill development programs, and initiatives to promote medical tourism and spiritual tourism.
'2025 is the year to build a portfolio for the future. Focus this year should be on valuations and visible growth.'
A complaint was filed against Congress leader Sonia Gandhi in Muzaffarpur, Bihar, for her 'poor thing' remark on President Droupadi Murmu. The complaint, filed by a lawyer, seeks registration of an FIR against Sonia Gandhi, Rahul Gandhi, and Priyanka Gandhi Vadra for allegedly disrespecting the country's highest constitutional authority. The court will hear the matter on February 10.
Three industry bodies suggested changes in India's tax regime in their pre-Budget discussions with Revenue Secretary Sanjay Malhotra in New Delhi on Tuesday. The bodies - Confederation of Indian Industry (CII), PHD Chamber of Commerce and Industry (PHDCCI), and Federation of Indian Chambers of Commerce & Industry (FICCI) - held separate meetings with Malhotra during the day and put across their suggestions for the upcoming Budget.
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
PM taken out of ICU, likely to attend the last day of the Parliament session.
Ushering in reforms, Union Finance Minister Nirmala Sitharaman on Saturday proposed to open up the nuclear power sector for private players and announced a Rs 20,000 crore Nuclear Energy Mission for research in the field, with an aim to set up five small and modular reactors by 2033.
"It is just that Fadnavis and I have swapped our chairs. Only Ajit Pawar's chair is fixed," said Shinde, who was the CM before the assembly elections with Fadnavis and Pawar as his deputies then.
'In the Indian government there are no illusions about the United States reliability or the possibility of having any kind of preferential treatment from Washington when it comes to trade.'
Analysts had said next year could see an election-year Budget.
The five largest exporters of major arms in 2020-2024 were the US (43 per cent), France (9.6 per cent), Russia (7.8 per cent), China (5.9 per cent), and Germany (5.6 per cent).
'They can't take even the smallest step.' 'The mental abuse is so insidious that sometimes they don't even realise it's happening.'
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
The budget, presented by Finance Minister Thomas Issac, focused on infrastructure development, strengthening of social welfare measures, steps to enhance safety of women, giving impetus to public education and health. It is the second budget by the ruling CPI(M)-led LDF after it came to power last year.
'When one air force (India's) hits the other's airbases with impunity and that air force (Pakistan's) is not able to respond, then the air force, which has put the other's airbases out of commission, has won.'
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
'Going forward, the encouragement would be to move to the new tax regime.'
Food budgets in urban areas spent less on protein as compared to beverages and processed foods, reveals the Household Consumption Expenditure survey data for 2023-24.
The Union Budget delayed because of elections in five states will now be presented on March 16, four days after Parliament will begin its Budget session.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
The Indian government has informed Parliament that 25 Indian nationals have been sentenced to death in the UAE, but the judgments are yet to be implemented. The Ministry of External Affairs stated that 10,152 Indian prisoners, including undertrials, are currently incarcerated in foreign prisons. The government provides assistance to Indian nationals sentenced to death abroad, including consular access and legal aid. In the past five years, Indian nationals have been executed in Malaysia, Kuwait, Qatar, and Saudi Arabia. The UAE authorities have not shared any data regarding the execution of Indians, but informal information suggests no executions have occurred since 2020.
January and February surpassed the monthly domestic box collection on a year-on-year basis.
'The global situation is not very good.'
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
Infighting within West Bengal's ruling Trinamool Congress (TMC) came to the fore after a video of an alleged verbal spat between party MPs and screenshots of heated exchanges from its official WhatsApp group for parliamentarians went viral. The incident reportedly involved a public altercation at the Election Commission headquarters, followed by a heated exchange on the party's WhatsApp group, leading to accusations of misconduct and leaked screenshots. The controversy has triggered calls for action against the party chief whip, Kalyan Banerjee, who is accused of misbehavior and tarnishing the party's image.
The ministry of finance will kickstart its massive budgetary exercise from October 15.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
The dates of general elections in 2019 and the presentation of the final Budget of the Modi government are so far removed from each other that Jaitley is not under any pressure to present a populist Budget. Instead, he could well unveil an array of schemes and proposals that he believes are necessary for the economy, even if a few of them could be unpopular, says A K Bhattacharya.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO). "We were waiting for the First Advance Estimates GDP numbers for FY24. "We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days.
Finance Minister P Chidambaram on Monday presented in Parliament the first ever Outcome Budget, which seeks to measure the physical targets achieved on the financial outlays of various ministries.
Finance Minister Pranab Mukherjee indicated this to media persons during a lunch hosted by him at his residence in New Delhi on Saturday.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
