All eyes will be on whether Sitharaman will deliver a populist budget leaving more money in hands of the common man or push the reform agenda by staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26.
Nirmala Sitharaman's maiden Budget has not disappointed but vision and details, particularly for the revival of agriculture, are missing.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
Among the new entrants to the Union cabinet, former Madhya Pradesh chief minister Shivraj Singh Chouhan has been given the agriculture and rural development portfolios, Bharatiya Janata Party president J P Nadda the health portfolio and former Haryana chief minister Manohar Lal Khattar the power portfolio.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
The Bharatiya Janata Party and its allies on Tuesday welcomed the Union Budget and said it focussed on youth, farmers, women, and has 'substantial allocations' for Maharashtra, but the opposition slammed the annual financial statement, claiming it neglected the western state and only seeks to please the saffron outfit's partners in Bihar and Andhra Pradesh.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to becoming a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "We have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all.
'They think quick fixes like internship in the private sector will help. 'In fact, internships have been going on for the last one decade.' 'In 2014-2015 itself, we had a ministry of skill development. None of the programmes have yielded results, still they are continuing with such schemes under some other name.' 'We don't see any seriousness on the part of the government to attack the problem of unemployment.'
India will become the third largest economy by 2027-28, with a GDP of over $5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be $30 trillion by 2047, she noted. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross $5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least $30 trillion in terms of economy," Sitharaman said at the Vibrant Gujarat summit.
Finance Minister Nirmala Sitharaman on Thursday proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year starting on April 1.
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
Former Prime Minister Indira Gandhi was the first and only women till now to have presented the Union Budget.
Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations.
Her visit comes a day after Congress leader Priyanka Gandhi campaigned at Wayanad for her brother and Congress chief Rahul Gandhi.
The expansion of existing airports and development of new airports will continue expeditiously, Finance Minister Nirmala Sitharaman said on Thursday and emphasised that the country's aviation sector has been galvanised in the past 10 years.
The 155-millimetre, 52-calibre Advanced Towed Artillery Gun System, which was successfully tested in Pokhran, demonstrated its potential to be a world-beating system.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
Polling is scheduled in all 13 seats of Punjab and four of Himachal Pradesh, 13 constituencies in Uttar Pradesh, nine in West Bengal, eight in Bihar, six in Odisha and three seats in Jharkhand besides Chandigarh.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
Indian quarter-miler Nirmala Sheoran on Friday secured her Rio Olympics berth after clocking an impressive 51.48 seconds in the women's 400 metre category in the National Inter-State Senior Athletics championships at the G.M.C. Balayogi Stadium in Hyderabad on Friday.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
Presenting the interim budget for 2024-25, she said the government is working with an approach to ensure development that is all-round, all-pervasive and all-inclusive.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
The police said that the threat email was sent from the accused, Mohammed Arshil's ID.
The Bharatiya Janata Party vs ruling Dravida Munnetra Kazhagam battle over live telecast of the Ayodhya Ram temple consecration in Tamil Nadu shrines reached the Supreme Court on Monday, with the apex court asking the authorities to act in accordance with the law and not based on any oral instructions.
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Thrust on infrastructure and capital expenditure is expected to continue in the Union Budget for FY25.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
There is an authenticity and sense of purpose about Dry Day which is appealing, observes Deepa Gahlot.
'I have serious doubts about the longevity of the NDA government and the longevity of the 18th Lok Sabha itself.'
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
