02-02-2017

the hindu
1. Small wonder.

In a workmanlike Budget, Arun Jaitley maintains fiscal discipline while handingout more to those at the bottom of the pyramid

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2. Gaps allowing dubious schemes likely to be plugged.

Amendment of the Multi-State Co-operative Act, 2002 is expected to address regulatory gaps.

Dubious schemes launched by individuals and some funds using the regulatory gaps of co-operatives would likely to come to an end with the amendment of the Multi-State Co-operative Act, 2002.

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3. Five special zones to boost tourism, travel in country.

Incredible India 2.0 global campaign planned to attract foreign tourists

Tourism and travel will get a boost in the coming years as the government has provided an impetus in the Union Budget.

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4. Fiscal resolve may pave way for rate cut.

Fiscal deficit target of 3.2% is lower than Bank of Merrill Lynch’s 3.5% forecast and it expects rates to be cut by 25 bps

With Finance Minister Arun Jaitley showing resolve for maintaining fiscal discipline, the ball is now on the Reserve Bank of India’s court to take a cue and lower interest rates further.

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5. Jaitley plans to cut MSME tax rate to 25%.

Income tax for companies with annual turnover up to ₹50 crore has been reduced to 25% from 30% in order to make Micro, Small and Medium Enterprises (MSME) companies more viable and also to encourage firms to migrate to a company format.  read more

6. Centre to phase out 2-decade-old FIPB.

Government has shown its clear intent towards fast-tracking inflow of Foreign Direct Investments

The Budget has given a clear indication of the government’s intent to further liberalise policies related to foreign direct investment.

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7. Govt. to assess learning outcomes in schools.

Sceptical experts say the measure is a focus on the ends, not the means, with no increase in budgetary allocation

The Centre is set to devise a method to measure learning outcomes of children at the school level, Finance Minister Arun Jaitley said in his budget speech on Wednesday.

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8. Rural employment scheme gets highest-ever funding.

FM allocates ₹48,000 crore for MGNREGA; says it will be brought under digital scrutiny

The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), once described by Prime Minister Narendra Modi as a “living monument of the UPA’s failure,” got its highest ever allocation — ₹48,000 crore — since its inception over a decade ago.

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9. A fine balance.

Coming within three months of the Central government’s purge of high-value currency notes that has dampened economic activity, particularly in the informal sector, it was imperative that Union Finance Minister Arun Jaitley soothed frayed nerves with Budget 2017-18.  read more

10. Pandemonium in J&K Assembly over Article 370.

Both the Houses of the Jammu & Kashmir legislature were adjourned sine die on Wednesday after legislators of the ruling party and the Opposition exchanged blows and hurled furniture at one another over the issue of Article 370. The Article gives the State a special constitutional status.  read more

tio
1. HOW INDIA'S TAX SYSTEM BECAME PRO-POOR.

When income and consumption is taxed more than production and sales, a tax system gets more progressive because the rich earn and consume more than the poor and therefore pay a higher tax read more

2. India is an economic GIANT but a social PYGMY compared to Bangladesh

India, China, Pakistan, Sri Lanka and Bangladesh gained independence around the same time. Until 1960 all four countries had almost identical per capita income. Today China is an economic miracle with impressive human development indicators (HDI).  read more

3. Holding the Line, No Big Leaps.

Finance minister Arun Jaitley’s fourth Union Budget was an underwhelming one in the context of an economic slowdown. It held the line; fiscal discipline was not thrown to the winds. But it is unlikely to meaningfully boost economic momentum.  read more

4.Striking the right balance.

India Outperforms China, Other Major Economies | Q4 Growth At 7.9%  read more

5.Govt keeps fisc deficit tad lower than target.

t would have been easy to get carried away. Ever since demonetisation, markets have been clamouring relentlessly for a large “consumption stimulus“ in the budget to “jumpstart growth“ ­ even if it meant completely abandoning the fiscal consolidation path. Against this backdrop, it would have been easy for finance minister Arun Jaitley to play to the gallery,  read more

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1. The Surprise is, there aren’t any

For Finance Minister Arun Jaitley, preparing the Union Budget 2017-18 must have been a ghastly exercise. The task was simple, really. Create jobs, get investment and revive growth. Only, it was set in a challenging global and domestic backdrop.  read more

2. Weightage to crucial areas of economy.

Union Budget presented by Finance Minister Arun Jaitley has made history when the government decided to advance it to the beginning of February and merge the Railway budget with the general budget.  read more

3. Decode Union Budget

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