Seeking to dispel fears over the state of economy, Finance Minister P Chidambaram today said the country will return to high growth of 7 percent in two years and promised adequate public spending to stimulate it.
In the Union Budget for 2013-14, the government authorised raising of up to Rs 50,000 crore through issue of tax-free bonds.
To meet the expected revenue target, it would be better for the government to start mopping up its non-tax revenue right from the beginning, says Dharmkirti Joshi, senior director and chief economist at Crisil
India's fiscal consolidation plans could pave the way for monetary easing, thus helping revive economic growth, Moody's added.
TDS aims to make property transactions more transparent as it increases property sale records and helps curb the black money component to some extent. However, compliance issues would make it difficult for every one involved.
Inflation Indexed Bonds/Inflation Indexed National Security Certificates will be launched to ensure that small investors can hedge against inflation.
when questioned on party members becoming more populist closer to the elections, Chidambaram said he was confident of the Congress going into elections if there is growth, more jobs, tamed inflation andthe people have the confidence that tomorrow will be better than today
The point is very basic. We don't earn all the money that we want to spend. There is also very little acknowledgement of the mistakes that have made by the government over the past few years.
Domestic car sales have slumped for both Maruti Suzuki India and Hyundai Motor India as buyers postpone purchases and inventory pileup extends from petrol cars earlier to diesel cars now.
We look at who has to work hardest to earn enough money for a cigarette.
The budget does not do any credit to the reformist credentials of Chidambaram, the one person in UPA with free-market beliefs.
After effectively halving its subsidy on fertilisers for 2013/14 in the budget, India will have to allow producers to take the politically sensitive step of hiking urea prices to farmers or provide additional funding, industry officials say.
If you go by the numbers, it seems the Sports Authority of India still believes that archery and boxing — despite their federations currently suspended — deserve a hefty raise.
Gloom is largely limited to high-end and luxury goods like expensive mobiles, SUVs, and yachts. On the whole, the FM seems to have achieved the unenviable task of delivering growth, reining inflation and mopping up resource.
No roadmap, not even a mention of reducing taxes on jet fuel in the Budget means nothing much will change for the domestic aviation industry in the new fiscal.
As of now, small cars are taxed at 12 percent excise duty whereas large cars- and that includes SUVs-are charged 27 percent duty. With today's Budget announcement, there is confusion over which cars will not attract higher duty.