Former Finance Minister P Chidambaram launched a fierce attack on the central government and finance minister Arun Jaitley, Chidambaram, on Saturday, and said that budget 2018 as a whole has failed the people of India.
Budget 2018 belongs to Bharat (rural India) with special emphasis being laid on welfare of farmers, the socially and economically weaker sections of the society. The main focus of the Budget has been on farmer empowerment, health care schemes, infrastructure and ease of living for the common man.
Budget 2018: Finance minister Arun Jaitley on Friday told the Rajya Sabha that the Budget announcement on ensuring farmers minimum support prices (MSPs) of kharif crops at one-and-a-half times of their costs will be based on the A2+FL costs, and not the more ambitious C2 costs formula favoured by farm scientist MS Swaminathan.
Budget 2018: Budget 2019 can best be described as one made possible by an ongoing revolution in tax collection. This revolution is beginning to make possible another revolution in income transfers to the bottom third of the population.
Budget 2018: On expected lines, the Budget 2018-19 aimed at strengthening agriculture and rural economy. Agriculture deserves serious attention as roughly half of the population is dependent on it for food security and livelihood opportunities.
Budget 2018: The finance minister, in his Union Budget 2018 speech, mentioned “education” the most number of times (to be precise, 29 times), amongst other buzzwords like agriculture (26 times) and health (21 times). However, a simple fact check tells us that he didn’t really walk his talk.
Budget 2018: Finance Minister Arun Jaitley will address the boards of the Reserve Bank and markets regulator Sebi tomorrow, highlighting various financial sector reforms announced in the Union Budget 2018-19. He may also take up the issue of additional Rs 13,000 crore dividend to be transfered by RBI to the government.
Railway Budget 2018: The Northern Railway has been allocated Rs 9,000 crore in the railway budget 2018-2019 to modernise its entire signalling system by embracing the world’s most advanced technology, officials said today. For the year 2018-2019, the outlay is Rs 565 crore.
Budget 2018: A day after the monetary policy committee flagged risks to inflation from a fiscal slippage, finance minister Arun Jaitley on Thursday said that Centre has been sticking to fiscal prudence ever since the NDA came to power and will continue to do so in the coming years.
Budget 2018: Given the prevailing economic conditions of muted consumption, the Union Budget FY19 was widely expected to focus on the rural and agricultural economy, social sector, job creation, and micro, small and medium enterprises (MSME).
Budget 2018: The Union Budget clearly recognises the strain on the economy, particularly in the farm and informal sectors, in terms of job creation. The proposal to increase agricultural credit by 10% to Rs 11 lakh crore and a host of other policies would revive demand and create opportunities for the MSME sector.
Budget 2018: TMC MP Dinesh Trivedi today criticised the Union Budget calling it a “jumla” (rhetoric) and alleged that several issues like the plight of farmers, better health services and education are yet to be addressed.
Budget 2018: The real estate sector had high expectations from the Union Budget. The anticipation was that FM Arun Jaitley will continue from where he left in the Union Budget 2017. However, that didn’t happen.
Budget 2018: After this year’s Union Budget, the government may give a detailed performance-based outcome document indicating the target of each ministry in Parliament said NITI Aayog.
Budget 2018: Though the Budget did not specify which cost will be used, chances are the lower A2+FL will be used. In the case of paddy, for instance, MSPs will need to be raised by around 11%, 18% in the case of cotton, 41% for jowar, etc, using even this lower cost as the base.
Budget 2018: Provisions of the proposed J&K Employment Code are not in public domain. Indeed, the Budget speech suggests it is still work in progress. But there are some clear principles that should drive any such initiative.
Budget 2018: In the Economic Survey 2017-18, it is noted that the recoveries from investment slowdowns, especially those associated with balance-sheet difficulties, tend to be stickier and hence the slowdowns can be prolonged.
Budget 2018: For small cohesive groups with common interest, raising and investing resources to achieve their common goals is a lot easier and plausible compared to large diverse groups with diffused interests.
Budget 2018: While tax administrators complain that traditional factors are no longer sufficient, taxpayers believe that the sanctity of these time-tested factors cannot be disturbed.
Budget 2018: Direct tax—hits and misses On the tax front, following the trend of previous years, the Budget continues to focus on increasing taxpayer base and moves away from providing tax exemptions—it is a combination of various hits and misses.
The budget’s promise of MSP-based deficiency payments, should the government not be able to procure all crops at the MSP, could cost around Rs 80,000 crore based on conservative estimates.
Railway Budget 2018: Modi government in their last Union budget 2018 before the 2019 Lok Sabha elections announced many game changing projects to uplift the Railway sector of the nation. Here are state wise Railway budget allocations and project announcements.
Budget 2018: The Union budget for fiscal 2018-19 has proposed electrification of 881 km of rail network in West Bengal at a proposed cost of Rs 771.54 crore, a senior railway official said here today. The project will be undertaken in seven zones of West Bengal.
Railway Budget for Uttar Pradesh 2018: Modi government has announced many game changing projects to enhance UP’s Railway network. Currently, there are 73 on going railway projects in Uttar Pradesh, worth Rs 64,279 crore. These projects are under the execution phase and cover a length of around 6,475 km.
Budget 2018: The Budget allocation to the corporation in 2017-18 was Rs 1.02 lakh crore (RE) and in the next year, it is budgeted to receive Rs 1.38 lakh crore. However, it is a fact that CPSE capex has been, especially over the last couple of years, a pillar of strength for the government in its effort to boost the economy, in the absence of strong private investments.
Budget 2018: Talking about the Budget allocation, Puri said his ministry has been allocated Rs 41,756 crore in 2018-19, up nearly 3% from Rs 40,617 crore in 2017-18. The announcement of a dedicated AHF will go a long way in meeting the requirement.
Budget 2018: The government said the total amount of exempted capital gains from listed shares and units was around Rs 3,67,000 crore for AY 2017-18. It expects to mop up Rs 20,000 from the tax on LTCG from equities.