'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
In line with the recommendations of the 12th and 13th Finance Commissions and the second Administrative Reforms Commission, the operational guidelines suggest shifting from the present cash-based accounting system to an accrual basis of accounting.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
He will be the first bureaucrat to head the central bank in almost five years.
The Planning Commission projected the Centre's fiscal deficit to come down to three per cent of the gross domestic product.
Responding to Shagh, National Conference leader Omar Abdullah said the country was suffering from too much "ODOMOS- overdose of only Modi only Shah".
The report was tabled by deputy chief minister S K Modi in the state assembly.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
The government has made several region-wise and sector-wise allocations in its annual plan and budget proposals.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
The Budget would preserve macro-economic stability.
Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
Shah also attacked the Congress and said "the party was finished in the country due to corruption and family rule."
The panel, to be headed by Reserve Bank of India Deputy Governor Shymala Gopinath, will review the structure of the National Small Savings Fund and give recommendations on making schemes more flexible and market-linked.
"Grassroots democracy must get precedence than any other considerations, including security," the functionary said.
It is believed that the commission in its report has suggested higher allocation to the states during five years starting from next fiscal.
Mitra will take over from P V Bhide after January 31.
Finance Minister Pranab Mukherjee will hold a pre-Budget discussion with state governments on January 13.
The empowered committee of state finance ministers has virtually trashed the Thirteenth Finance Commission taskforce's Goods and Services Tax report.
From withdrawing the stimulus to implementing the Finance Commission proposals, the FM has his task cut out.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
The government should speed up the disinvestment process to generate funds for meeting the new needs such as environment protection, 13th Finance Commission chairman Vijay Kelkar said.
A day before unveiling the Budget, Finance Minister Pranab Mukherjee will table the Economic Survey in Parliament on Thursday which will take stock of the economy and also the impact of stimulus on industry.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
Experts say the party is undoing what it achieved through MNREGA by targeting beneficiaries
The report for the period ended March 2009, presented in the assembly by Deputy Chief Minister S K Modi, who holds charge of the finance department, said revenue receipts between 2008-09 increased by Rs 4770.97 crore (Rs 47.7 billion) mainly due to grants-in-aid and share of Union taxes from the Centre.
Food prices have been relentlessly rising and was over 19 per cent year-on-year in the last week of November.
The Delhi government is likely to extend the ongoing Winter Session to allow passage of the Jan Lokpal Bill which was cleared by the cabinet earlier this week.
Finance Minister Pranab Mukherjee may have earned plaudits for projecting a decline in the fiscal deficit to 5.5 per cent of gross domestic product (GDP) for 2010-11, but his targets for revenue deficit reduction are relatively modest and represent a departure from the 13th Finance Commission's recommendations.
Finance Minister Pranab Mukherjee on Thursday said that financial year 2009-10 was ending with clear signs of economic rebound and the growth would rise to about 8.5 per cent in the next fiscal.
The Thirteenth Finance Commission on Monday suggested that activities like housing, construction and railways should be included in the proposed Goods and Services Tax to increase the tax base and enhance collections.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.
On the sidelines of the NITI Aayog governing council meeting, CMs of West Bengal, Andhra Pradesh, Karnataka and Kerala met PM Modi.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
The proceedings were washed out over various issues including the Citizenship (Amendment) Bill and roster system for reservation in educational institutions.
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
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