In the run-up to the polls, a survey has revealed that better employment opportunities is the single most important issue for citizens and that the government has fared below average in this aspect.
After tabling the Survey, Jaitley told reporters that fiscal deficit for the current year will be 4.5 per cent which needs to go down further in the next two years.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
'The fiscal situation is stressed (when is it not?!), economic growth has slowed, tax revenue has fallen short and the deficit is high if it is properly accounted,' points out T N Ninan.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
The overdraft facility has been sanctioned in only 40,000 accounts
Sticking to their key demand of the repeal of three farm laws to end their protest, farmer leaders on Friday told the government their 'ghar wapsi' can happen only after 'law wapsi' but the Centre insisted talks must be limited to contentious clauses and ruled out a complete withdrawal of Acts.
Expectations from this Budget are sky-high.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
It raises three major questions - the incentive compatibility issue, the fairness issue and fiscal challenge, said Panagariya.
The Modi government's array of economic policy has been impressive.
FM should avoid proposals such as to tax financial transactions and fringe benefits
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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.
'There are two pre-conditions for big reforms. One, a sense of crisis and second, fairly concentrated levers of power.' 'India is growing at 7.5 per cent or something close to that.' 'Our levers of power are decentralised, not just between the Centre and states. Power is dispersed and there is no sense of crisis.'
No large nation has done less to feed its millions of poor than India has in the past decade or two since the beneficial effects of the Green Revolution wore off.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
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.
Not only is your privacy stripped stark naked, says Mitali Saran, the system itself is illegal and vulnerable.
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
Just as Billa-Ranga had become symbols of everything that was wrong with the system many years ago, Nestle is now portrayed as the wickedest of the wicked. Every known food crime in India is now attributed to Nestle including deliberately increasing the level of lead in their noodles, as well as deliberately destroying the health of millions. That's not only unfair, it's downright idiotic, says Rajeev Srinivasan.
These decisions are aimed at helping mills in clearing part of over Rs 22,000-crore arrears to cane farmers.
Expectations were probably too high from Narendra Modi.
Exporters believe the situation will also have a grave outcome for employment, with large numbers of casual laborers looking at no work, as well as downstream units facing a loss of work, reports Subhayan Chakraborty.
It keeps getting harder every day for the government to drive its narrative that ample jobs are being created. They sound increasingly silly as they try to defend the indefensible, says Mahesh Vyas.
Jaya described herself as the people's "beloved sister" and sought a mandate bigger than the last one -- during the bye-poll post her acquittal in a disproportionate assets case by Karnataka high court.
The government's dependence on debt has come down from 27 paise in the previous Budget to 25 paise in the coming year, reflecting ease of pressure on revenue collections.
India and Pakistan must reform their institutions of governance to accelerate economic growth on a sustained basis for poverty reduction, lawmakers and experts from both the countries attending a meeting in Dubai said notwithstanding the chill in bilateral ties.
IDS-2 and raids to uncover black money stash keep receipts flowing
Flexibly targeting inflation is consistent with a demand stimulus, says Ashima Goyal.
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The partially convertible rupee closed at 66.24/25 per dollar after hitting a record low of 66.30, and down 2.9 per cent from its close of 64.30/31 on Monday.
The prices of oilseed, coarse cereals & vegetables could also be affected.
'Under Narendra Modi's leadership, we will be able to regain our rightful place in the community of nations,' veteran diplomat Hardeep Singh Puri, who joined the BJP on January 2, tells Rediff.com's Sheela Bhatt.
Hordes of cows rampage through the fields, eating everything in sight. This is after the UP government banned slaughter of cattle. As a result, farmers whose cows become old and are a liability simply sets them loose.
Against National Democratic Alliance's 75 million target, United Progressive Alliance added 61 million in 2013-14.
The Congress-led United Democratic Front on Wednesday suggested further tightening of the measures on liquor policy if it returns to power.
In a letter written recently to the Finance Minister, Pawar had said that arrears of sugar mills have risen to over Rs 10,000 crore (Rs 100 billion) and there was a need to hike import duty to curb shipments, which is putting downward pressure on local prices.
The Nifty and Sensex traded close to their respective all-time highs.
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
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