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FM Nirmala Sitharaman’s first tranche of announcements of the fiscal stimulus for economic recovery closely follows PM Modi's vision of making the economy self-reliant.
Here is a look at the 2014-15 Budget, presented by Finance Minister Arun Jaitely, through a series of graphs on allocations to various key sectors from the time of the previous NDA government.
The intellectual framework for high taxes was set by Finance Minister C.D. Deshmukh in his 27 February 1953 Union Budget speech, where he set up the T
On 1 February, Finance Minister Nirmala Sitharaman will make her most important political economy speech
There were no big reforms and no major policy turnarounds in the Union Budget presented by Finance Minister Arun Jaitley. It was a budget of small and tentative steps to help steady the ship and laid the foundation for big reforms in the months ahead.
We really do not understand inflation stickiness in India since 2010. However, the silver lining is that oil prices may not rise any further following the shale gas revolution in the US. The Finance Minister can certainly do something about growth and possibly pray for lower inflation.
The Interim Budget presented by Finance Minister P Chidambaram was a strange one. It contained much praise for the ruling coalition UPA's entire tenure, peppered with some disappointments.
Finance Minister Nirmala Sitharaman budget remains unassuming in grand announcements, matter of fact in its outlook, and deglamorised in form—just t
A second Green Revolution is in the offing given the recent announcements by the central government. The highlight of Finance minister Mr Jaswant Singh¿s January 9 pre-poll sops was the setting up of a Rs. 50,000 crore Agriculture Infrastructure and Credit Fund, to be operational in four weeks and providing end use credit at 200 base points below PLR.
India and Bangladesh relations got a new boost following Finance Minister Pranab Mukherjee's brief visit to Bangladesh recently, demonstrating New Delhi's keenness in enhancing bilateral relations.
Finance Minister Nirmala Sitharaman seemed to be the chief protagonist of Prime Minister Narendra Modi’s dream of India becoming a $5 trillion econo
Since data has changed, there are only three words that should define Finance Minister Nirmala Sitharaman’s Budget 2019 — growth, growth, growth.
Finance Minister Nirmala Sitharaman’s fifth budget faces global challenges. She should leverage them and meet them head-on
The Finance Minister announced allocations for various sectors in the Budget. But these are a regular feature of every Budget. What was different in this Budget? Almost nothing except that there has been fiscal consolidation. Obviously, it is not going to satisfy the common man, farmers, industry or foreign investors.
The Finance Minister has chosen to walk the conservative path, hoping to stimulate investment and growth through small half-measures. Expect high rates of inflation in FY 13 and greater pressure on the fiscal deficit despite white paper on black money.
The reforms of 1991 were designed for a different technological frontier than what faces India in 2021.
Going forward, the 21st century will see leaders at the Union embrace reforms with greater force and stronger conviction.
The moment finance minister Pranab Mukherjee announced a mere 4% nominal increase in defence budget pegged at Rs 1,47,344 crore for 2010-11, members of Indian strategic community started showing their frustrations.
Presenting the Interim Budget 2024-’25 on 1 February, the finance minister announced an allocation of INR 6,21,541 crore (approx. US$75 billion) for the Ministry of Defence (MoD). Representing 1.9 percent of Gross Domestic Product (GDP) and 13 percent of Central Government Expenditure (CGE), MoD’s new budget is an increase of 4.7 percent over the previous outlays. This brief examines the MoD’s latest budget and contextualises it in the curr
In the next Budget Finance Minister Pranab Mukherjee will have to strive hard to reduce fiscal deficit because a big fiscal deficit gives wrong signals to investors. The current year's Central and state combined fiscal deficit stands at 8.5 per cent.
The Union Finance Minister surprised many with his social sector-centric budget. No one expected the Modi government to go for enhancing the MNREGA by Rs 5000 crore or to have a huge kitty of subsidies ($37 billion) aimed at the poor. There seems to be a vision towards giving India a universal social security system for all and especially the poor.
In the Union Budget this year, Finance Minister Arun Jaitley seems to have tried his best to address the numerous issues being faced by the micro, small and medium enterprises and to invigorate them. For this industry, the way forward is through a reformist social programme which will aid the weak and inefficient enterprises.
Having indicated his intention to increase gas pipeline network infrastructure by 15,000 kilometers, making it almost double existing capacity, India's Finance Minister Arun Jaitley has certainly raised an intellectual argument among oil and gas stalwarts: What should be India's priority - gas or gas grid?
India’s G20 Presidency has identified the mandate for the Finance Ministers and Central Bank Governors (FMCBG) as thus: “capacity building of the ecosystem for financing sustainable development.” The aim is to scale up efforts in mobilising large pools of global capital for sustainable projects, particularly in emerging and developing economies. Under the aegis of the Sustainable Finance Working Group (SFWG), the G20 proposes the developmen
Finance Minister Nirmala Sitharaman’s Interim Budget 2024 presents good macroeconomic numbers—and a strong political message of winning Elections
World over, uncontrolled fiscal stimulus had got a new legitimacy. And now everyone is standing on the edge of a fiscal cliff. The finance minister seems to have the full support of the UPA chairperson to cut wasteful spending this time around.
The multiple versions of the reforms story make it difficult to separate fact from romance.
Under the Interim Budget, the Financial Minister has outlined a few schemes for urban development, but a more comprehensive budget would be required f
The Finance Minister, P Chidambaram, managed to present a fairly balanced Union Budget. There were no big unforeseen surprises and it was relatively measured given that we are in a pre-election year. It is hard to ignore that the global economy continues to be in turmoil.
Like the US, India, too, is grappling with its own version of the fiscal cliff, the biggest challenge before Finance Minister P. Chidambaram. The UPA has exhausted its fiscal space even as growth has fallen to a 10-year low. The challenge is to effect a sharp reduction in the fiscal while not adversely affecting quality public investment, which can in turn give a fillip to private investment.
The Finance Minister has addressed the various deficiencies in agricultural production which are responsible for high food inflation. But the actual measures announced are not enough to shake up agriculture and as Dr MS Swaminathan pointed out - it will not make the youthful population take up farming.
GST became a reality as a process of cooperative federalism was followed led by the finance minister.
The G20 meeting in Seoul next month ( November 11 and 12th) for the Finance Ministers of the twenty member countries that include India, China and the US, is likely to be a stormy one judging from the controversies surrounding the state of the world economy.
The recent G20 finance ministers’ meeting has reminded us of the powerful role the G20 plays in financial multilateralism. Will the objectives be me
The Vice President of India, Shri. M. Hamid Ansari and the Union Finance Minister, Shri. Pranab Mukherjee, remembered the contributions of late Shri R.K. Mishra, ORF Founder Chairman, while releasing 'A Brahmin Without Caste: Remembering Rishi Kumar Mishra' -- a volume contributed by 56 personalities from different walks of life.
The Finance Minister can at best provide an enabling environment through the Union Budget and other policy frameworks that lie in his domain. The political and bureaucratic class need to pull in the same direction over the next few years to reverse some of the structural weaknesses.
A Budget is an imperative or otherwise a government will drift aimlessly, though that often seems to be the case even with the most minutely specific Budget. Having said that, one must wonder why there is such a fuss each year when the Finance Minister of India is about to present the Budget?
As financial crises brew in India's neighbouring nations, India should engage in new economic initiatives with these states to prevent the worsening o
In the Union Budget, the Finance Minister needs to restore the confidence of the middle class investor who now have little faith in anything other than gold and real estate as the means of preserving and growing her savings.
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