(This story originally appeared in on Feb 04, 2021) NEW DELHI: Niti Aayog CEO Amitabh Kant says there will be a few PSUs in strategic sectors once the public sector policy is rolled out and the Budget for 2021-22 has sent out a strong message about government‘s reformist zeal. Excerpts: There is a huge thrust … Read more
There is a large output gap in the economy and in such a situation there is nothing wrong with pressing the fiscal pedal, expenditure secretary TV Somanathan said. The budget numbers are reasonable and if there is need for adjustment, the capital and growth-oriented parts will not be touched, he said in an interview with … Read more
Assessing officers will be able to begin inquiry based on third party information from audit or agencies, rather than anonymous information, which will reduce harassment of taxpayers and lead to reduced litigation, Central Board of Direct Taxes (CBDT) chairman PC Mody told ET. “Earlier, the provision for that (beginning inquiry) was that if the assessing … Read more
One of the most enigmatic elements of GoI’s approach towards the Covid-19 pandemic has been its dogged conservative approach towards fiscal management this year. We have seen how in the first half of 2020-21, when the economy was ravaged the most by Covid, central government spending was lower than it was in the corresponding period … Read more
Tourism sector primarily has two schemes – PRASAD and Swadesh Darshan – both of which have been continued this year. By S.N.M.D. Sarkar, Indian Union Budget 2021-22: Union Budget 2021 upholds well-planned framework to boost the travel sector. A whopping allocation of Rs 2,83,846 crore for healthcare, which is around 137 per cent higher than … Read more
Wider fiscal deficits and a more gradual pace of consolidation will lift the Indian government’s debt and pressure its sovereign ratings, Fitch Ratings said, cautioning that the fiscal firepower is limited due to a high debt ratio. Finance Minister Nirmala Sitharaman said the current year fiscal deficit will touch 9.5% of GDP, much higher than … Read more
(This story originally appeared in on Feb 02, 2021) New Delhi: Disappointment was writ large on the face of the common man on the street after the Union Budget was presented by Union finance minister Nirmala Sitharaman with many saying that it had nothing much for the middle class. Rakesh Sharma, a 61-year-old senior accounts … Read more
Coming in the wake of the very challenging times of the pandemic, Budget 2021 has rightfully focused on fuelling growth and investing deeply in infrastructure. It has set right the strategic directions to overcome the effects of the crisis brought about by the pandemic, and places due emphasis on quickening economic recovery, boosting domestic output … Read more
New Delhi: Poll-bound West Bengal, Assam, Tamil Nadu and Kerala have got a leg-up in terms of proposed infrastructure spending in the budget. In West Bengal, where BJP is aiming to unseat the ruling Trinamool Congress in elections later this year, Rs 25,000 crore has been earmarked for road projects, including 675 km of highway … Read more
A crisis can make life simple, reducing it to the absolute necessities. Since the coronavirus hit us last year, most activities and complexities of life melted away, postponed to some far away future. The formula became simple – stay safe while keeping work/business going as best as possible. Ms Sitharaman had an equally simple task … Read more