-Hindustan Times Finance Minister Arun Jaitley's claims of already having achieved an economic turnaround, made in his budget speech, evoke suspicion. Inflation is certainly down and so is the current account deficit, but that has almost entirely to do with the crash in international crude oil prices, which have fallen from $110 per barrel in June 2014 to around $57 per barrel currently. In fact, rather than passing on the full...
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Strong on the social sector side -Yashwant Sinha
-The Hindu Budget making is a complex exercise, especially in a country like India. Therefore, the parameters to judge the annual budget are also many. For me, the arithmetic of the budget is the first. According to the statements made by the Prime Minister and the Finance Minister, one expected the fiscal deficit targets to be adhered to. However the Finance Minister has extended it from two to three years....
More »Highlights of Union Budget 2015
-The Hindu FM's Budget speech dwelt on agriculture, public investments in infrastructure, manufacturing and social sector spending. States to be equal partners in economic growth; move to making India cashless society; social sector programmes to continue. Some of the challenges mentioned by the Finance Minister are: poor agricultural income, decline in manufacturing ; and the need for fiscal discipline. Here are sector-wise highlights: TAXATION 1 Abolition of Wealth Tax. 2 Additional 2% surcharge for the super...
More »Ordinance route unacceptable: Opposition -Smita Gupta
-The Hindu Govt. trying to broker deal with Congress, promises changes in land ordinance Rejuvenated by the BJP's rout in the Delhi Assembly elections and Nitish Kumar's return as Chief Minister of Bihar, the Opposition, a day ahead of Parliament's budget session, remained unwilling to co-operate with the government, especially on the passage of the ordinances that are priority on the government's legislative agenda. At an all-party meeting convened by Parliamentary Affairs Minister...
More »Arun Jaitley hints at more spending cuts ahead of Union Budget
-PTI Having already crossed the fiscal deficit target in November, Finance Minister Arun Jaitley on Friday hinted at more cuts in spending so as to contain it within limits for the current fiscal, saying he does not believe in living on borrowed money. "We're trying to rationalise expenditure as far as the government is concerned because we do not want the government to live on borrowed money indefinitely," he told a gathering...
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