-Centre for Budget and Governance Accountability (CBGA) Press Release   New Delhi: The direction indicated by the Finance Minister's Budget Speech in general and that of the taxation policies in particular indicate a quantum leap being taken towards market fundamentalism. In the absence of any increase in the overall spending capacity of the government (Centre and States combined), the steps for fiscal decentralization (from Centre to States) have been constrained, implying only...

-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....

-The Indian Express The forthcoming budget is expected by some to be make-or-break or path-breaking, by others, to provide a legislative or economic roadmap for the rest of this government's term. Most likely, it will focus on issues within the purview of the finance ministry, namely, macro management, taxation, expenditure, the financial sector and balance of payments. The abolition of the Planning Commission and the 14th Finance Commission recommendations on tax devolution...

-Press Information Bureau/ Ministry of Finance The Economic Survey emphasizes on the need for a national common agricultural market and identifies un-integrated and distortion ridden agricultural market as the one of the most striking problems in agriculture growth. The Economic Survey suggests 3 incremental steps as possible solution, building on the Budget 2014 recognition for setting up a national market, farmers' markets and need for the Central Government and the State Government...

-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...