According to government's estimates, there are around 110 million APL families in the country, who get 11-25 kg of foodgrain a month.
'How long can you lead a life like this?'
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Aadhaar is a creation of the previous Congress-led government.
Evidently, households see a brighter future after the Budget, reveals Mahesh Vyas.
If the Budget makes no big announcements on new schemes, projects, or tax giveaways, the government would face a major political dilemma as it may have to reluctantly consider shunning the practice of unveiling pre-election sops to woo voters, notes A K Bhattacharya.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
By throwing food at poverty that is result of faulty economics and lack of jobs, one is only trying to suicidal path.
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.
India's economic growth will be above 6 per cent in the current fiscal as the country has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Monday. Goyal further said that a global slowdown reducing India's export growth, geopolitics fueling oil and food prices, and erratic weather are some of the continuing risks that the country faces. "India has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks.
Women and children have been given short shrift with these crucial sectors facing substantive budgetary cuts, discovers Rashme Sehgal.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
Government's food subsidy bill tends to rise in tandem with the MSP increase.
Agreement 'endorsed' by members and being legally vetted but will be part of the main Doha agenda only after a tenuous process.
The government would not extend export freight assistance to sugar mills beyond September, Union Agriculture and Food Minister Sharad Pawar said on Friday. On August 29, Finance Minister P Chidambaram had said the government must end assistance to sugar exporters since enough sugar had been exported out of the country.
For now, the upside appears to offset damage done to exports by weaker global demand.
The Doha Round of talks of the World Trade Organisation (WTO) faces a new challenge and if some statements emanating after the General Council meeting on July 25 at Geneva are to be taken at face value, this could derail the process of trade liberalisation through a multilateral route for some time.
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
He is not good at thinking through laws and policies. His lockdown produced chaos and misery and didn't stop Covid. His GST finished off thousands of companies and reduced the amount of tax government collects to such an extent that he cannot pay state governments any more, observes Aakar Patel.
'We are patriots who love India and the secular ideals it has always upheld.'
'This announcement is big foolishness.' 'The government has no idea of economics. They are just announcing what comes to their mind.' 'Let them implement what they have announced and just see what will happen in two years.'
According to a senior commerce department official, though India is ready to sign the TFA and take necessary actions towards that, it is imperative that a discussion on public stockholding gets its due importance.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
The budget underscores government's previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, it stated. But the various spending initiatives are not offset by any significant announcements related to further increase revenue generation; rather, the announced revenue-related measures are aimed at other objectives such as fostering startup innovation, ensuring more equitable treatment for cooperatives and state employees, and promoting tax compliance through simplification, Christian de Guzman, a senior vice-president, sovereign risk group, Moody's Investors Service, said.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
The transmogrification of Prime Minister Modi to Saint Modi began with the ground-breaking ceremony of the Ram temple in Ayodhya. By identifying himself with Lord Ram, Modi raised himself in popular imagination to a saintly person.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
The United Nations on Wednesday pared down India's growth forecast by 20 basis points to 5.8 per cent for 2023 calendar year, citing higher interest rates and risks of recession in the developed world weighing on investment and exports. "Economic growth in India is projected to moderate in 2023, with higher interest rates weighing on investment and slower global growth weakening exports," it said in its latest World Economic Situation and Prospects report. The report has projected global trade to contract 0.4 per cent and the world economy to grow at 1.9 per cent in 2023.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
New Delhi to push for services trade facilitation & food stockpiling.
FY14 economic growth rate pegged at 4.8-5.3%, WPI inflation set to rise
Refusing to budge from its tough stand on food security issues, India pressed for a fair and balanced outcome of the WTO ministerial meeting in Bali.
India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
Warning that the new year will be riskier than the previous two in terms of growth, inflation and the perils of monetary policy normalisation on consumption demand in particular, along with other external risks, a Wall Street brokerage has pencilled in an 8.2 per cent GDP growth next fiscal, with more downside risks to the projection. The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists who still believe that consumption demand will remain the key driver of growth next fiscal as well.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
They will have a tenure of two years
