There are many collateral advantages of taking the tough decision.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
.jpg)
The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
Though the international crude prices were going up, the United Progressive Alliance government's approach was that the subsidy on petroleum products should continue as in the case of food and fertilisers.
The government on Thursday decided to ask the 13th Finance Commission to map the road for achieving fiscal deficit targets by including off-budget subsidies like oil, food and fertiliser bonds estimated at over Rs 100,000 crore (Rs 1,000 billion) in the Budget.
'Aquaponics can effectively cushion the impact of a calamity like COVID.'
Financial services major Credit Suisse on Monday said the government is likely to support rupee as the rapidly falling local unit is causing visible pressure on the country's oil and fertilisers deficit bill.
Normally, kharif sowing of vegetable seeds starts during the first week of May across the country. Farmers start preparing their fields to make them suitable for kharif sowing during the second fortnight of April. Now, however, faced with the lockdown, farmers are in a hurry to clear their fields of rabi crop and prepare for kharif planting. With a normal monsoon forecast this year, they are doing all they can to take advantage of pre-monsoon showers.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
India could gain four times over by winding up dysfunctional subsidies.
The implications aren't too significant, given the size of Ukraine and its role in the global economy.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
India's wheat exports could touch a new record of 10 million tonnes in 2022-23, up from a record seven million tonnes in the current financial year, if global market conditions remain choppy and no curbs are imposed on outbound shipments. That is the bullish estimate by officials from global trading firms and market watchers who say the Russia-Ukraine crisis has not only attracted global buyers to India but also pushed the price of Indian wheat from around $320 per tonne (FOB) to over $360 per tonne in less than 10 days. Food secretary Sudhanshu Pandey told reporters that wheat exports till February-end have already reached 6.6 million tonnes and by the end of March, outbound shipments will reach seven million tonnes.
Growth in 2012-13 slipped to a decade-low of 4.5 per cent. The economy expanded 4.6 per cent in the first half (April-September) of this financial year.
Governments must encourage micro-irrigation, use of natural manure and pesticides in a big way. Farm income can be doubled by reducing cost as much as by increasing MSP, says Sanjeev Nayyar.
India must be prepared for a big, fat fuel import bill in FY23 - barring any further avatars of the Covid virus - as refiners crank up runs, or crude processing rates, to meet the growing demand for fuels, and crude prices soar. Capacity additions by an Indian state-run refiner will reinforce the need for foreign crude. Demand for all fuels is expected to increase by 3-8 per cent next fiscal from 2021-22, reaching pre-pandemic levels, according to analysts and industry experts.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Can Jaitley's team hope to garner 17% more on personal income tax?
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
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 Survey lists some of the challenges that might impede India's progress.
US interest rate normalisation policy is likely to keep global FX markets volatile.
The prime minister made the reference about the functioning of the Parliament against the backdrop of the virtual washout of its Monsoon session over various issues.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
BSE Midcap and BSE Smallcap indices hit their fresh lifetime highs for the second day in a row
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
Road projects alone worth $10 billion face delays over land disputes and other clearances.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
The government has to take difficult decisions in the budget, which can include cutting subsidies to curb expenditure on items like fertilisers and also upping revenues.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
The government should frame new policies to assure growth.
BKS and BMS leaders have told the BJP leadership that it is staring at a build-up of anti-government propaganda in the run-up to polls in five states.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
