States could then stop complaining about the Centre and fashion their own economic destinies, says T C A Srinivasa Raghavan.
The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
The BJP chief exuded confidence that the party would retain power at the Centre in the 2019 Lok Sabha polls with more strength.
We should work in unison to boost growth: FM
For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards the states' share of taxes and duties.
He also alleged that the Bharatiya Janata Party wanted to create a Delhi-like situation in Puducherry and take power away from an elected government.
IThe fiscal deficit target for 2020-2021 was originally set at 3.5 per cent of GDP. But the government's revenues have collapsed and its expenditure burden will only increase over the Budget estimates.' With the government having already planned for an additional borrowing of over Rs 4 trillion, the fiscal deficit for the current year would be much higher than the Budget estimate, notes A K Bhattacharya.
'We might have lacked somewhere but our commitment was absolute. We might have made mistakes and fallen short to some extent. We might not have done something but what did you do'
The statue of Gandhi, which was donated by the Indian government to the city of Davis, was installed by the city council four years ago amidst protests from anti-Gandhi and anti-India organisations.
Budget has laid emphasis on increasing social spends
The BJP needs to win maximum number of seats from northeast to strengthen Prime Minister Narendra Modi so that development of the region continues.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
Andhra Pradesh has been demanding a Special Category State status from the Centre ever since the state's economic powerhouse Hyderabad, which housed several IT and pharmaceutical companies as well as PSUs, went to Telengana in the bifurcation
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
'Both the Centre and the states cannot say that they have been taking good care of public health.'
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
Jaitley said focus is on larger expenditure on social sector.
The Finance Commission (task force) had recommended an overall GST rate of 12 per cent 'but it is likely to be higher than that', revenue secretary Sunil Mitra said at a Confederation of Indian Industry seminar in New Delhi.
Union Home Minister Rajnath Singh on Thursday said B R Ambedkar had never thought of leaving the country despite being subjected to insult and discrimination.
'An era of fiscal pessimism is setting in, which, if not countered intellectually, is going to have the same effect as export pessimism has had,' notes T C A Srinivasa Raghavan.
Excluding the pension outgo, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore.
Every option before the finance minister comes with a price tag, observes T N Ninan.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
The 13th Finance Commission has outsourced a major part of the exercise for devising ways to better manage ecology, environment in the North-East to two prominent organisations. The commission has entrusted two renowned institutes of the country -- The Energy and Resources Institute and the Bhopal-based Indian Institute of Forest Management -- with the job to explore ways to better manage ecology, environment and climate change consistent with sustainable development.
Addressing a massive public rally to celebrate the signing of the accord on January 27 that is expected to bring lasting peace to the troubled state, Modi said now the time was to work together for peace and development of the North-East.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
Bihar Chief Minister Nitish Kumar asked the prime minister not to make new promises to Bihar but "show moral courage" and ensure implementation of all the promises made till date.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
'We will not compromise on it. We will not make any deferred payments or cuts.'
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
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