Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
When Prime Minister Narendra Modi recently extended a Rs 8,000-crore (Rs 80 billion) central support for building roads in Jammu & Kashmir, Union Cabinet's approval for the big-ticket announcement came in barely 48 hours.
The finance minister defended the change in the tax rates.
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.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
'After the creation of Telangana, Andhra Pradesh has been left as an agrarian state.' 'Therefore, the special category status to this residual state was imminent and necessary for its development,' YSR Congress MP V Vijayasai Reddy explained in the Rajya Sabha.
The Budget would preserve macro-economic stability.
Assam Chief Minister Tarun Gogoi on Monday took on Narendra Modi today saying that the Bharatiya Janata Party's prime ministerial candidate was 'irresponsible' and had made 'wrong statements' at his rally two days ago.
Shah said a BJP government would protect and promote the cultural heritage and values of tribals.
The result is a big blow to the military establishment, revealing the limits of 'political engineering'. It reflected the anger of the electorate, especially its younger voters, who have spoken decisively against the persistent harassment and victimisation of Imran Khan's political party, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
Niti Aayog has come out with an initiative to improve governance in states.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
'It is violation of the Model Code of Conduct.' 'It is a penal offence under the IPC to exert undue influence on voters.' 'Under the election law, it is a corrupt practice.'
He will be the first bureaucrat to head the central bank in almost five years.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
Prabhu hoped that during this 3-4 years period, railways would be able to absorb the impact from their resources
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
On the proposed Grand Alliance of the Congress and other parties in the state, Shah said the Telugu people had not forgotten how the Congress had treated their leaders like former (undivided) Andhra Pradesh chief minister Anjaiah and former prime minister P V Narasimha Rao.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
'The CEA suggested that could be as high as 19 per cent.'
'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.
India opened up its economy to the private sector in 1991.
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
Consumers are paying an exorbitant 180 per cent tax on petrol, and 140 per cent on diesel in Delhi and in most other towns in India. Little wonder then that the central government expects a staggering Rs 3.46 trillion by levying excise duties on retail sale of the two fuels this year, and Rs 3.2 trillion the next. States would generally have had reason to cheer, as they command a 41 per cent share in Centre's tax revenues. But as the Centre has raised excise duties in the form of "cess," the revenue proceeds are by nature not shareable with states.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday. In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
Advising judiciary to avoid "perception-driven" verdicts, Prime Minister Narendra Modi on Sunday said it should have an internal mechanism of "self-assessment" as judges are considered "divine" and seldom face any criticism unlike the political class.
'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'
Shah also attacked the Congress and said "the party was finished in the country due to corruption and family rule."
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
The CrPC (Identification) Bill empowers the police to obtain physical and biological samples of convicts and those accused of crimes while the DMC (Amendment) Bill, 2022 seeks to unify the three civic bodies in the national capital.
Finance Minister Arun Jaitley more than halved the central government's financial support.
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