Union Budget

By: Ranjit K Pattnaik
Category: Common citizen, Inequality, Taxes, Global, Union Budget, RBI, Jobs, India politics, Indian economy, Inclusive growth
Investment decline stems from balance sheet stress, making it particularly difficult to reverse. One of the key messages from the Survey is that raising investments is more important than raising savings to reignite growth. The argument thus follows: “The ‘animal spirits’ need to be conjured back.”
By: Jagdish Rattanani
Category: Common citizen, Governance, Taxes, Global, Union Budget, RBI, Jobs, India politics, Indian economy, Inclusive growth, GST
The true import behind today’s exercise lies in the political context and intent, given the string of electoral battles coming up this year and leading on to national elections in 2019, if not earlier. So this will be an election budget and it comes in difficult economic times.
By: Ajit Ranade
Category: Common citizen, Taxes, Global, Union Budget, RBI, Jobs, India politics, Indian economy, Inclusive growth
First, focus on job creation; second is agriculture and the rural economy; third is a revival of private investment spending; fourth is an impetus to exports and connectedly to manufacturing, and lastly, achieving all this within reasonable fiscal limits so as to not let interest rates climb.
Category: Common citizen, Inequality, Sustainability, Taxes, Union Budget, Jobs, India politics, Indian economy, Inclusive growth
Developing a consensus with the States and executing a national agenda is an urgent task of the Central government. Though GST is an important subject, I intuitively feel that if half the effort to build consensus for GST had gone into agriculture, the GDP benefits would have a higher impact!
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, Union Budget, RBI, India politics, Indian economy, Inclusive growth
At the macro level an economy has four drivers of growth. Think of these as a four wheel drive. If all are in sync, and revved up properly then we get good speed i.e. growth of the economy. These four drivers are the sources of demand, or spending on goods and services. These are private... read more
By: Ajit Ranade
Category: Common citizen, Taxes, Union Budget, RBI, India politics, Indian economy, Inclusive growth
Around this time last year, the country was recovering from the shock of demonetisation. It created economic hardship, but it was a political success. Around the country, two questions were routinely asked to people waiting in long queues at the bank branch or the ATM. These were: (a) “Are... read more
By: Ranjit K Pattnaik, By: Jagdish Rattanani
Category: Common citizen, Governance, Health, Inequality, Sustainability, Taxes, Global, Union Budget, RBI, Jobs, India politics, Indian economy, Inclusive growth
The obsession with GDP growth is despite the fact that the number is not easily relatable to anything the citizen feels or does. So while in the US, it is the jobless rate that can be political dynamite, in India it is GDP growth that remains a metric that everybody quotes but very few understand.
By: Ajit Ranade
Category: Common citizen, Union Budget, India politics
This is the first budget to have mentioned about transparency in political funding. In its fight against black money the government cannot ignore the issue of unaccounted money in politics. Hopefully this sunshine will eventually mean that political parties will also come under the ambit of RTI.
By: Saugata Bhattacharya
Category: Union Budget, RBI, India politics
Under the given circumstances, both domestic and global, the Budget was the best possible. It has opted for a capex push, with revenue expenditures scaled back. Whether higher revenues permit these spends without the usual scale back remains to be seen. The Budget has a wide canvas to work on.
By: Ranjit K Pattnaik, By: Jagdish Rattanani
Category: Union Budget, RBI, India politics
The perception that the predominance of cash in the economy makes it possible for the people to evade their taxes does not hold much water. There are many gaps between the cup and the lip. One may hasten to comment that the structural weaknesses of tax administration pre dominate the tax system.

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