#Modi Government Fuel Tax

[graphaizesmm]

Manmohan vs Modi: A Decade of Economic Impact

The economic policies of Dr. Manmohan Singh and Narendra Modi have significantly shaped India’s financial landscape over the past two decades. This analysis provides a detailed comparison of their tenures, focusing on key economic indicators. Using infographics and data visuals, we contrast the performance of the UPA (United Progressive Alliance) under Manmohan Singh and the NDA (National Democratic Alliance) under Narendra Modi. The comparison covers GDP growth, retail inflation, tax-to-GDP ratio, stock market returns, trade deficit, government debt, and education expenditure.

The Big Thing. GDP Growth During Dr. Manmohan Singh’s tenure from 2004 to 2014, the Indian economy experienced an average GDP growth rate of approximately 7.7% year-on-year (YOY). This period saw robust economic expansion, driven by liberalization policies, increased foreign investments, and a booming services sector.

Under Narendra Modi’s leadership from 2014 onwards, the average GDP growth rate has been around 6.8% YOY. While the economy initially experienced strong growth, factors like demonetization, the implementation of GST, and the COVID-19 pandemic have affected overall performance.

Manmohan Singh’s tenure saw higher average GDP growth compared to Modi’s period. However, Modi’s government has focused on structural reforms intended to create a more resilient economy in the long term.

Controlling Retail Inflation Retail inflation, measured by the Consumer Price Index (CPI), averaged around 7.5% annually during the UPA years. High food and fuel prices were significant contributors to inflationary pressures during this period.

Under Modi, retail inflation has averaged around 4.8% annually. The government’s focus on inflation targeting through the Reserve Bank of India and measures to improve food supply chains has helped keep inflation in check.

Modi’s administration has been more successful in controlling retail inflation compared to the UPA period, resulting in lower average annual inflation rates.

Collecting Taxes Effectively: Tax to GDP Ratio The tax-to-GDP ratio is a crucial metric for several reasons. It indicates the government’s capacity to generate revenue from the economy. Higher ratios suggest that the government can raise more funds to finance public services and infrastructure.

During the UPA tenure, the tax-to-GDP ratio averaged around 10.4%. Efforts were made to widen the tax base, but challenges in enforcement and compliance persisted.

Under Modi, the average tax-to-GDP ratio has improved to approximately 11.5%. The introduction of the Goods and Services Tax (GST) aimed to simplify the tax structure and enhance compliance, contributing to higher tax revenues.

The NDA has seen a higher average tax-to-GDP ratio, reflecting better tax compliance and a broader tax base due to GST implementation.

Bull Run. Returns from Stock Market Returns The UPA era witnessed an average annual stock market return of around 15%. The period was marked by significant market rallies driven by economic growth and foreign investment inflows.

During Modi’s tenure, the stock market has delivered an average annual return of approximately 11%. Despite market volatility and economic disruptions, long-term reforms have supported market confidence.

While both tenures saw positive stock market returns, the UPA period experienced higher average annual returns compared to the NDA period.

Deficits and Debt. Economic The UPA years saw an average annual trade deficit of around USD 100 billion. High import bills, especially for oil and gold, contributed significantly to the trade deficit.

Under Modi, the average annual trade deficit has been about USD 70 billion. Initiatives like Make in India and measures to curb non-essential imports have helped reduce the trade deficit.

The NDA has managed to lower the average annual trade deficit compared to the UPA period, reflecting better management of import bills and a push towards domestic manufacturing.

During the UPA tenure, government debt averaged around 68% of GDP. Increased public spending and fiscal stimulus measures contributed to higher debt levels.

Under Modi, government debt has averaged around 70% of GDP. While the government has focused on fiscal consolidation, spending on infrastructure and social programs has kept debt levels high.

Government debt as a percentage of GDP has remained relatively stable between the two periods, with a slight increase under the NDA due to higher spending on developmental programs.

Education Expenditure (% of GDP Avg) Top education spenders in Asia, measured by GDP percentage, include South Korea (4-5%), Japan, Singapore (3-4%), Malaysia (4-5%), Thailand (around 4%), and Hong Kong (3-4%). These countries prioritize education, investing heavily in quality, technology, and skills development.

Education expenditure averaged around 3.8% of GDP during the UPA years. Significant investments were made in expanding access to education and improving infrastructure.

Under Modi, education expenditure has averaged around 3.5% of GDP. The focus has been on improving the quality of education, skill development, and digital learning initiatives.

Both administrations have allocated similar proportions of GDP to education, with the UPA slightly ahead in terms of average expenditure. However, the NDA has emphasized quality and skill development more prominently.

Comparing the economic impacts of Manmohan Singh and Narendra Modi’s tenures reveals distinct approaches and outcomes. The UPA period saw higher GDP growth and stock market returns, but also higher inflation and trade deficits. The NDA has managed better inflation control, an improved tax-to-GDP ratio, and a reduced trade deficit, reflecting a focus on structural reforms and fiscal discipline. Using infographics and data visuals, this comparison provides a clear understanding of each administration’s economic performance, helping readers grasp the broader impacts of their policies on India’s economy.

[twnenglish]

Decoding Union Budget 2024: A Roadmap for 'Viksit Bharat' (Developed India)

Decoding Union Budget 2024: A Roadmap for 'Viksit Bharat' (Developed India)

With the Union Budget 2024 scheduled for presentation on July 23rd, all eyes are on Finance Minister Nirmala Sitharaman. This budget holds immense significance as it outlines the government's financial roadmap for the coming year, paving the way for achieving Prime Minister Narendra Modi's ambitious vision of a "Viksit Bharat" (Developed India) by 2047. Let's delve deeper into the key areas that may receive focus in Budget 2024, acting as stepping stones towards a fully developed India.

Top Government Priorities for Budget 2024

Building a Strong Foundation: Macroeconomic Management

As Jayant Sinha, Former Minister of State for Finance, rightly pointed out, ensuring economic stability is paramount. The Modi government's track record with macroeconomic management has been commendable, laying a solid foundation for sustained economic growth. Budget 2024 is expected to build upon this success by focusing on:

Fiscal Consolidation: Maintaining a healthy balance between government expenditure and revenue generation is crucial for long-term economic stability. The budget may target a gradual reduction in the fiscal deficit while ensuring sufficient spending on crucial sectors.

Inflation Control: The recent rise in inflation has put pressure on household budgets. The government might propose measures to control inflation, such as better supply chain management and strategic interventions in key sectors like food and energy.

Promoting Exports: Boosting India's export competitiveness will be vital in achieving sustained economic growth. The budget could introduce incentives for exporting companies, including tax breaks, infrastructure improvements, and trade agreements.

Prioritizing Social Welfare Schemes: Uplifting Lives

The Modi government's flagship social welfare programs have played a pivotal role in alleviating poverty and improving living standards. Budget 2024 is likely to continue emphasizing these initiatives, including:

Direct Benefit Transfers:

These schemes help ensure targeted and efficient delivery of financial assistance to beneficiaries. The budget may announce a potential increase in the allocation for schemes like PM Kisan Samman Nidhi (farmers' income support) and Ujjwala Yojana (clean cooking fuel for rural women).

Garib Kalyan Yojana:

This scheme provides financial assistance to vulnerable sections of society. The budget could address specific needs within the program, such as expanding healthcare coverage or enhancing skill development opportunities.

Ayushman Bharat:

This flagship health insurance scheme has expanded access to affordable healthcare. Budget 2024 could propose expanding the program's coverage, increasing its reach to a wider population, particularly in rural areas.

Read More

[janchowk]

ग़रीबों को लूटकर ग़रीबों का कल्याण

ग़रीबों को लूटकर ग़रीबों का कल्याण

हमें एनडीए सरकार की इस चालाकी की प्रशंसा करनी चाहिए, जिस तरह से उसने टैक्स वसूलने, कल्याणकारी मदद और अपने लिए वोट जुटाने के काम को आपस में जोड़ने का एक तरीका खोजा है। यह तरीका भी इलेक्टोरल बॉन्ड योजना की तरह ही चालाकी भरा है, जिसमें सत्ताधारी पार्टी द्वारा अपने फायदे के लिए सांठगांठ वाले पूंजीवाद (क्रोनी कैपिटलिज्म), भ्रष्टाचार और चुनावी फंडिंग को इस तरह से जोड़ा गया है कि जाहिरा तौर पर किसी भी…

[newstfionline]

Monday, May 3, 2021

Global coronavirus cases are surging, driven by India and South America (NYT) The number of new daily cases has exceeded 800,000 for more than a week. The spike is largely driven by the outbreak in India, which now accounts for more than 40 percent of the world’s new cases. The U.S. plans to halt travel for non-U.S. citizens from India starting Tuesday. Vaccines in India are running short, hospitals are swamped and cremation grounds are burning thousands of bodies every day. Health experts and political analysts say that Prime Minister Narendra Modi’s overconfidence and domineering leadership style bear a huge share of the responsibility for the crisis. Meanwhile, Indians living abroad are frantically seeking to help sick relatives. Much of South America is also faring poorly. Uruguay, Paraguay, Brazil, Peru, Argentina and Colombia all rank among the 20 nations with the highest number of Covid deaths per capita.

Elderly statesman? (NYT) Arnold Schwarzenegger left the California governor’s mansion 10 years ago. He is a more popular political figure today than when he was elected. Over the past year, the former Republican governor, now 73, has been in demand, embracing an unlikely role that he describes as “elderly statesman.” He’s made public service announcements on hand washing, raised millions of dollars for protective health gear and is now being sought out for guidance on the Republican-led effort to oust Gov. Gavin Newsom, the same mechanism that led to Schwarzenegger’s election in 2003. “When you leave office, you realize—well, I realized—that I just couldn’t cut it off like that,” he said in a three-hour interview.

Looming showdown as Michigan governor orders Canadian pipeline shut down (Washington Post) For Michigan’s governor, the 645-mile pipeline jeopardizes the Great Lakes. For Canada’s natural resources minister, its continued operation is “nonnegotiable.” The clash over Calgary-based Enbridge’s Line 5, which carries up to 540,000 barrels of crude oil and natural gas liquids across Michigan and under the Great Lakes each day, is placing stress on U.S.-Canada ties. In a move applauded by environmentalists and Indigenous groups on both sides of the border, Michigan Gov. Gretchen Whitmer (D) in November ordered the firm to shut down the nearly 70-year-old lines by May 12. Canadian officials, including Prime Minister Justin Trudeau, have appealed to their American counterparts, including President Biden, Secretary of State Antony Blinken and Energy Secretary Jennifer Granholm for help. Joe Comartin, Canada’s consul general in Detroit, said a shutdown would have “significant” impacts on both sides of the border. He predicted effects ranging from months-long propane shortages to higher costs for consumers to fuels being carried by rail, truck or boat—methods that he said are less emissions-friendly and more dangerous than a pipeline. One “irritant,” he said, is “the claim from the state that they are doing this to protect the Great Lakes, that they’re more interested in protecting the Great Lakes than we in Canada are. Basically, we reject that completely.”

NYC Eyes Reopening (Bloomberg) New York City Mayor Bill de Blasio said yesterday the city would aim to fully reopen July 1, lifting restrictions on restaurants, gyms, and all other businesses. A return to normal would mark a symbolic moment for both New Yorkers and the country—America's most populous city was a global epicenter early in the pandemic, registering an average of 800 deaths per day last April. The city is averaging roughly 1,700 new cases per day, down 70% since January, reporting about 30 deaths per day.

Kissinger warns of ‘colossal’ dangers in US-China tensions (AFP) Acclaimed diplomat Henry Kissinger said Friday that US-China tensions threaten to engulf the entire world and could lead to an Armageddon-like clash between the two military and technology giants. The 97-year-old former US secretary of state, who as an advisor to president Richard Nixon crafted the 1971 unfreezing of relations between Washington and Beijing, said the mix of economic, military and technological strengths of the two superpowers carried more risks than the Cold War with the Soviet Union. Strains with China are “the biggest problem for America, the biggest problem for the world,” Kissinger told the McCain Institute’s Sedona Forum on global issues. “Because if we can’t solve that, then the risk is that all over the world a kind of cold war will develop between China and the United States.” While nuclear weapons were already large enough to damage the entire globe during the Cold War, he said advances in nuclear technology and artificial intelligence—where China and the United States are both leaders—have multiplied the doomsday threat. “For the first time in human history, humanity has the capacity to extinguish itself in a finite period of time,” Kissinger said.

Thousands march in Colombia in fourth day of protests against tax plan (Reuters) Thousands of Colombians took to the streets on Saturday for International Workers’ Day marches and protests against a government tax reform proposal, in a fourth day of demonstrations that have resulted in at least four deaths. Unions and other groups kicked off marches on Wednesday to demand the government of President Ivan Duque withdraw the reform proposal, which originally leveled sales tax on public services and some food. Cali, the country’s third-largest city, has seen the most vociferous marches, some looting and at least three deaths connected to the demonstrations.

Europe’s economy shrinks amid slow vaccine rollouts and lockdowns (Washington Post) With swaths of Europe still under lockdown restrictions and facing a stuttering vaccination rollout, the region’s economy slid into a double-dip recession in the first quarter of the year, in contrast to a rosy outlook in the United States. The European economy shrank by 0.6 percent in the first quarter of the year, according to data released Friday. The U.S. economy grew by 1.6 percent over the same period, amid massive federal stimulus spending and a speedy vaccination rollout. Export-dependent Germany, which had already been heading toward recession before the pandemic as manufacturing dropped off, saw its economy shrink by 1.7 percent, the most in Europe. The economies of Spain, Italy and Portugal also contracted. Much of Europe is battling a third wave of coronavirus infections. Germany has a nighttime curfew in place in 15 of its 16 states, and shopping requires booking appointments and getting a negative test.

Dozens of German police injured in May Day riots (AP) At least 93 police officers were injured and 354 protesters were detained after traditional May Day rallies in Berlin turned violent, Berlin’s top security official said Sunday. More than 20 different rallies took place in the German capital on Saturday and the vast majority of them were peaceful. However, a leftist march of 8,000 people through the city’s Neukoelln and Kreuzberg neighborhood, which has often seen clashes in past decades, turned violent. Protesters threw bottles and rocks at officers, and burned garbage containers and wooden pallets in the streets. There’s a nightly curfew in most parts of Germany currently because of the high number of coronavirus infections. But political protests and religious gatherings are exempt from the curfew.

Big Myanmar protests aim to ‘shake the world’; seven killed (Reuters) Myanmar security forces opened fire on some of the biggest protests against military rule in days, killing at least seven people on Sunday, media reported, three months after a coup plunged the country into crisis. The protests, after a spell of dwindling crowds and what appeared to be more restraint by the security forces, were coordinated with demonstrations in Myanmar communities around the world to mark what organisers called “the global Myanmar spring revolution”. Streams of demonstrators, some led by Buddhist monks, made their way through cities and towns including the commercial hub of Yangon. The protests are only one of the problems the generals have brought on with their Feb. 1 ouster of the elected government. Wars with ethnic minority insurgents in remote frontier regions in the north and east have intensified significantly over the past three months, displacing tens of thousands of civilians, according to U.N. estimates. In some places, civilians with crude weapons have battled security forces while in central areas military and government facilities that have been secure for generations have been hit by rocket attacks and a wave of small, unexplained blasts.

Vaccinated faithful throng Jerusalem church for Holy Fire (AP) Hundreds of Christian worshippers made use of Israel’s easing of coronavirus restrictions Saturday, packing a Jerusalem church revered as the site of Jesus’ crucifixion and resurrection for an ancient fire ceremony a day before Orthodox Easter. The faithful gathered at The Church of the Holy Sepulchre, waiting for clergymen to emerge with the Holy Fire from the Edicule, a chamber built on the site where Christians believe Jesus was buried and rose from the dead after being crucified. As bells rang and the top clerics from different Orthodox denominations appeared, the worshippers scrambled to light their candles and pass the fire on. Within a minute, the imposing walls of the old church glowed.

Israel asks whether autonomy of the ultra-Orthodox contributed to the deadly stampede (Washington Post) Israel’s ultra-Orthodox residents exist in a world within the world, citizens of Israel but pledging their allegiance, attention and obedience instead to their rabbis and God. In isolated enclaves, they are exempt from the military draft, outside the national school system and—in apartments usually without Internet or television—largely oblivious to the surrounding culture. Now, this shocked country is asking whether that self-segregation—and the secular politicians who have enabled it for decades—is responsible for the worst civilian catastrophe in Israel’s history, the trampling death of 45 ultra-Orthodox men and boys at a massively overcrowded religious festival in the early hours of the morning Friday. The ultra-Orthodox, or Haredim as they are known in Israel, follow some of the most conservative tenets in Judaism and have a lifestyle based on the Jewish culture that evolved hundreds of years ago in the communities of Eastern Europe. Since Israel’s founding, state leaders have sought preserve this culture after much of it was devastated during World War II.      When more than 100,000 members of the Haredim convened for a boisterous annual festival at an ancient rabbi’s tomb on Mount Meron, they overflowed a narrow, sloped compound known to both government and religious leaders as a potentially dangerous setting. Sunday, as the final victims were being buried and flags around the country flew at half-mast in a national day of mourning, multiple investigations were getting underway that will target police planning, local regulators, site managers and national ministries with responsibility for oversight. Already, journalists and whistleblowers have unearthed a shocking paper trail of warnings ignored, recommendations overruled and absent supervision. Officials have been called to account for meetings in recent weeks in which specific recommendations from health and safety authorities were overruled at the behest of Haredi groups.

[crazynewsindia]

SJVN registers 37.98% growth in PAT, which is Rs. 1349.48 crores for First Three Quarters of current FY

SHIMLA : 06.02.2023   Nand Lal Sharma, Chairman and Managing Director, SJVN, today informed that SJVN has recorded Profit After Tax (PAT) of Rs 1349.48 crores for three quarters of current financial year which is 37.98 % more than the corresponding period of previous fiscal.   Speaking after the Board Meeting of Company today, Sh. Sharma stated that for the third quarter Profit After Tax increased by 25.06%, which is Rs. 290.98 Crores compared to Rs. 232.67 Crores during corresponding period last year.   Sh. Nand Lal Sharma lauded collective efforts and hard work of the employees. “These positive growth percentiles are result of optimum utilization of our operating units, relentless quest to excellence, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company.”   Sh. Sharma informed that SJVN’s Net Worth has jumped to Rs. 14,261.09 crores at the end of 3rd quarter of 2022-23 as compared to Rs. 13581.36 crores during last year. SJVN has also upped its Earning Per Share (EPS) registering an increase of 38.15% as compared to corresponding period of previous year. Similarly, Company has accounted an increase of 11.37% in the Profit Before Tax (PBT). Displaying an excellent financial performance during first three quarters of current fiscal, the Company has earned total Revenues of Rs. 2715.48 crore from operations during these three quarters.       Further, Sh. Sharma informed that on 3rd of January this year Hon’ble President of India, Smt. Droupadi Murmu, laid the foundation stone of SJVN’s 1000 MW Bikaner Solar Power Project. He further told that in a major development Cabinet Committee on Economic Affairs, chaired by Hon’ble Prime Minister Sh. Narendra Modi has approved investment of Rs. 2614 crore for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.       In line with the commitment of Government of India to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its Business Model and has given a major thrust to its Renewable Energy portfolio. Addition of various Hydro & Renewable Energy Projects in the kitty of SJVN has resulted in upscaling of Shared Vision to achieve installed capacity of 25,000 MW by 2030 & 50,000 MW by 2040. Read the full article

[tumbirus]

Good Evening, Even as I write this, the country is witnessing protests over the Agnipath ( Tour of Duty ) scheme which opens the gates of armed forces to volunteers for a period of four years, including onbording, training, levave and actual service.while mine is a perch of privilege as a veteran officer drawing pension and enjoying life long health cover, I cannot but reflect on the plight of sailors, airman and jawans who endure many challenges. There are the extend periods at sea, the humble facilities, the non - family stations and field postings as well as other hardships. But they brave them all because -for me and countries others -the navy or any service isn't just a "job".It s a way of life -a life of honour ,dignity and passion .As for the contract of pension and medical cover, it could mean the difference between starving and living a life of dignity after retirement. Both have been excluded by thr proposed Agnipath scheam. Four years 'service means the recruits will not even be entitled io gratuity A 25%retention carrot for perment absorption will practically turn them into performing circus clowns. Indian country under Narendra Modi, Amit Shah and RSS criminals joint before 8 years making in public life violations is over , Not change ,MRC,Fakers issues , fakers murder ,muslims life encounter ,MP and MLA'S ate black money use sale , social media issues ,fake FIR making arrest ,EVM cheating ,government money missusing ,economy today be 4%,GST tax name public money cheating ,fuel ,gas, and daily life metriel price hick ,unemployment ,religious name ublic life superstition ,Muslim mosque under Shivaling name issues ,our aganist ones non proof killing one system ,judged and officers life murder and more clear proof in India ,many foot path educated ones media and anchores use speaking one own life fear one Modi and shah ,why actuly Indian criminals accued list and Tadipar list under jail custody making one this criminals are no more voice or minister power in India ,any Modi government under criminal accued case one ministers...cont (at Mumbai, Maharashtra) https://www.instagram.com/p/CfCG3CXqzvM/?igshid=NGJjMDIxMWI=

[graphaizesmm]

Manmohan vs Modi: A Decade of Economic Impact

The economic policies of Dr. Manmohan Singh and Narendra Modi have significantly shaped India’s financial landscape over the past two decades. This analysis provides a detailed comparison of their tenures, focusing on key economic indicators. Using infographics and data visuals, we contrast the performance of the UPA (United Progressive Alliance) under Manmohan Singh and the NDA (National Democratic Alliance) under Narendra Modi. The comparison covers GDP growth, retail inflation, tax-to-GDP ratio, stock market returns, trade deficit, government debt, and education expenditure.

The Big Thing. GDP Growth During Dr. Manmohan Singh’s tenure from 2004 to 2014, the Indian economy experienced an average GDP growth rate of approximately 7.7% year-on-year (YOY). This period saw robust economic expansion, driven by liberalization policies, increased foreign investments, and a booming services sector.

Under Narendra Modi’s leadership from 2014 onwards, the average GDP growth rate has been around 6.8% YOY. While the economy initially experienced strong growth, factors like demonetization, the implementation of GST, and the COVID-19 pandemic have affected overall performance.

Manmohan Singh’s tenure saw higher average GDP growth compared to Modi’s period. However, Modi’s government has focused on structural reforms intended to create a more resilient economy in the long term.

Controlling Retail Inflation Retail inflation, measured by the Consumer Price Index (CPI), averaged around 7.5% annually during the UPA years. High food and fuel prices were significant contributors to inflationary pressures during this period.

Under Modi, retail inflation has averaged around 4.8% annually. The government’s focus on inflation targeting through the Reserve Bank of India and measures to improve food supply chains has helped keep inflation in check.

Modi’s administration has been more successful in controlling retail inflation compared to the UPA period, resulting in lower average annual inflation rates.

Collecting Taxes Effectively: Tax to GDP Ratio The tax-to-GDP ratio is a crucial metric for several reasons. It indicates the government’s capacity to generate revenue from the economy. Higher ratios suggest that the government can raise more funds to finance public services and infrastructure.

During the UPA tenure, the tax-to-GDP ratio averaged around 10.4%. Efforts were made to widen the tax base, but challenges in enforcement and compliance persisted.

Under Modi, the average tax-to-GDP ratio has improved to approximately 11.5%. The introduction of the Goods and Services Tax (GST) aimed to simplify the tax structure and enhance compliance, contributing to higher tax revenues.

The NDA has seen a higher average tax-to-GDP ratio, reflecting better tax compliance and a broader tax base due to GST implementation.

Bull Run. Returns from Stock Market Returns The UPA era witnessed an average annual stock market return of around 15%. The period was marked by significant market rallies driven by economic growth and foreign investment inflows.

During Modi’s tenure, the stock market has delivered an average annual return of approximately 11%. Despite market volatility and economic disruptions, long-term reforms have supported market confidence.

While both tenures saw positive stock market returns, the UPA period experienced higher average annual returns compared to the NDA period.

Deficits and Debt. Economic The UPA years saw an average annual trade deficit of around USD 100 billion. High import bills, especially for oil and gold, contributed significantly to the trade deficit.

Under Modi, the average annual trade deficit has been about USD 70 billion. Initiatives like Make in India and measures to curb non-essential imports have helped reduce the trade deficit.

The NDA has managed to lower the average annual trade deficit compared to the UPA period, reflecting better management of import bills and a push towards domestic manufacturing.

During the UPA tenure, government debt averaged around 68% of GDP. Increased public spending and fiscal stimulus measures contributed to higher debt levels.

Under Modi, government debt has averaged around 70% of GDP. While the government has focused on fiscal consolidation, spending on infrastructure and social programs has kept debt levels high.

Government debt as a percentage of GDP has remained relatively stable between the two periods, with a slight increase under the NDA due to higher spending on developmental programs.

Education Expenditure (% of GDP Avg) Top education spenders in Asia, measured by GDP percentage, include South Korea (4-5%), Japan, Singapore (3-4%), Malaysia (4-5%), Thailand (around 4%), and Hong Kong (3-4%). These countries prioritize education, investing heavily in quality, technology, and skills development.

Education expenditure averaged around 3.8% of GDP during the UPA years. Significant investments were made in expanding access to education and improving infrastructure.

Under Modi, education expenditure has averaged around 3.5% of GDP. The focus has been on improving the quality of education, skill development, and digital learning initiatives.

Both administrations have allocated similar proportions of GDP to education, with the UPA slightly ahead in terms of average expenditure. However, the NDA has emphasized quality and skill development more prominently.

Comparing the economic impacts of Manmohan Singh and Narendra Modi’s tenures reveals distinct approaches and outcomes. The UPA period saw higher GDP growth and stock market returns, but also higher inflation and trade deficits. The NDA has managed better inflation control, an improved tax-to-GDP ratio, and a reduced trade deficit, reflecting a focus on structural reforms and fiscal discipline. Using infographics and data visuals, this comparison provides a clear understanding of each administration’s economic performance, helping readers grasp the broader impacts of their policies on India’s economy.

[nirmalflex]

Much to the relief of consumers, the Center is reducing the fuel tax to pre-COVID-19 levels.

Much to the relief of consumers, the Center is reducing the fuel tax to pre-COVID-19 levels.

NEW DELHI: The center on Saturday reduced the excise tax on gasoline by Rs 8 and on diesel by Rs 6 to lower fuel prices and reduce inflation by lowering transportation costs for aam-aadmi staples. The government also announced a Rs 200 subsidy for liquefied gas for consumers who were given free connection under the Ujjwala programme, one of the Narendra Modi government’s flagship welfare programs…

[ultimateketomealplan]

Nirmala Sitharaman Urges States To Reduce VAT On Fuel After Excise Duty Cut

Nirmala Sitharaman Urges States To Reduce VAT On Fuel After Excise Duty Cut

Finance Minister Nirmala Sitharaman announced major economic decisions on Saturday Days after a war of words had erupted between Central Government and states in the aftermath of Prime Minister Narendra Modi requesting them to reduce value added tax (VAT) on fuel prices, Finance Minister Nirmala Sitharaman on Saturday announced a cut in excise duty on petrol and diesel by Rs 8 and Rs 6 a litre,…

[sachkiawaaj]

Mamata challenges Modi on fuel prices; demands central dues before cutting taxes in state

Mamata challenges Modi on fuel prices; demands central dues before cutting taxes in state

NEW DELHI: A day before arriving in Delhi for the first face-to-face meeting of chief ministers, since the outbreak of covid19 pandemic, called by Prime Minister Narendra Modi, West Bengal chief minister Mamata Banerjee seems to have upped the ante by asking the Centre to pay off all the dues to the state, so that the state government can waive taxes on petrol and diesel. Surely, on fuel prices…

[janchowk]

‘मोदी सरकार ने पेट्रोल-डीजल के टैक्स से कमाए 3,46,000 करोड़ रुपये, इस साल अवाम से वसूलेंगे चार लाख करोड़’

‘मोदी सरकार ने पेट्रोल-डीजल के टैक्स से कमाए 3,46,000 करोड़ रुपये, इस साल अवाम से वसूलेंगे चार लाख करोड़’

“ईंधन-टैक्स-जीवी मोदी सरकार देश की जनता के लिए अभिशाप बन गई है। पेट्रोल-डीजल-टैक्स-जीवी मोदी सरकार देश की जनता के लिए अब एक भयभीत करने वाले भूत की तरह है। 32 रुपये/लीटर की लागत वाले पेट्रोल को 90 से 100 रुपये/लीटर में बेचकर मई 2014 से अब तक पेट्रोल और डीजल पर टैक्स लगाकर मोदी सरकार ने 21 लाख 50 हजार करोड़ रुपये की लूट इस देश की जनता से की है।” उपरोक्त बातें आज एक प्रेस कान्फ्रेंस में कांग्रेस…

[newstfionline]

Friday, July 23, 2021

Could a plant pandemic be next? (Fast Company) For decades before COVID-19, scientists warned that a pandemic was inevitable and urged preparation, but governments around the world did very little. When it arrived, COVID-19 laid bare the fragility of many of our systems—including global food supply chains. Across farms worldwide, there are now warning signs of a pandemic in food crops. More than 600 pest species have developed some form of resistance to pesticides, which causes $10 billion in losses in the United States alone each year. Climate volatility intensifies these threats, and many crops are already suffering—citrus blight and banana fungus wreak havoc for growers and supply chains. With global food supplies vulnerable and food prices at their highest in almost a decade, a plant pandemic could push more people into poverty and cause social unrest. The agricultural industry must harness the urgency with which scientists responded to COVID-19 to get ahead of a full-blown crop pandemic.

Biden splits from Trudeau, extending travel curbs at U.S.-Canada land border (Washington Post) The United States on Wednesday renewed its pandemic curbs on nonessential travel at the U.S.-Canada land border for at least a month, marking a split with its northern neighbor and close ally on the restrictions, and fueling rancor on both sides of the frontier. The Department of Homeland Security said in a tweet that the extension of the measures—which also apply at the U.S.-Mexico land border and are now set to expire Aug. 21—was motivated in part by a desire to decrease the spread of the highly transmissible delta coronavirus variant. The announcement comes several days after Canada said it would begin to open up its borders to some foreigners for discretionary travel, beginning with fully vaccinated U.S. citizens and permanent residents living in the United States on Aug. 9; and fully vaccinated people from elsewhere on Sept. 7. The measures have kept families apart, battered the tourism industry and altered life in close-knit border communities in ways big and small.

Debt limit dueling ahead (Bloomberg) In case Congress wasn’t preoccupied enough, the U.S. is at risk of a default in October or November unless it raises or suspends the debt limit, the Congressional Budget Office said. The debt ceiling—how much the government can borrow—is a favorite partisan grenade on Capitol Hill. Democratic senators have already rejected any attempt by Republicans to set conditions for increasing the federal debt limit.

How Mexico’s traditional political espionage went high-tech (Washington Post) In 2017, investigators discovered traces of Pegasus spyware on the phones of several Mexican journalists and civic activists. The government acknowledged it had used Pegasus—but only, officials said, to fight criminals. Amid the backlash, the Justice Ministry stopped using the surveillance tool. The Justice Ministry told a government watchdog agency in 2019 that it had uninstalled the spyware licensed by the Israeli-based NSO Group—but it had no records of how or when, or what happened to any data collected. A new investigation by The Washington Post and 16 media partners is raising further questions about the use of Pegasus in this young democracy. The investigation has found evidence of the spyware in attempted and successful hacks of 37 smartphones belonging to journalists, human rights activists and businesspeople around the world. Their numbers appear on a list of more than 50,000 numbers concentrated in countries known to have been clients of NSO. Nearly one-third of the numbers are in Mexico, all from 2016 and 2017. The team of journalists identified and verified more than 400 of them. They include phone contacts for dozens of people close to then-presidential candidate Andrés Manuel López Obrador: top advisers, his wife, three of his sons, his brothers, his drivers—even his cardiologist. Scores of numbers for other top politicians appeared, as well as those for union representatives, journalists and civic activists. A person familiar with NSO’s operations in Mexico, who spoke on the condition of anonymity to discuss sensitive matters, said the company terminated Pegasus contracts with several Mexican clients at least two years ago, after seeing news reports of human-rights abuses and the phone-tapping of journalists.

Lithuania backs Taiwan (Foreign Policy) Taiwan has opened a de facto embassy under its own name in Vilnius, Lithuania, despite warnings from Beijing. Lithuania has taken a hard stance against China this year, pulling out of the 17+1 initiative between China and Central and Eastern European countries, and calling on others to abandon the group. That’s part of a general trend against Beijing in the Baltic states, which have relatively little trade with China and dislike its close ties with Russia; as small nations threatened by an expansionist neighbor, they also have a natural sympathy with Taiwan.

‘Pingdemic’ grips Britain as fears of food shortages grow (Reuters) Britain’s supermarkets, wholesalers and hauliers were struggling on Thursday to ensure stable food and fuel supplies after an official health app told hundreds of thousands of workers to isolate after contact with someone with COVID-19. British newspapers carried front page pictures of empty shelves in supermarkets. British Prime Minister Boris Johnson’s bet that he could reopen England’s economy because so many people have been vaccinated has been tarnished by the so-called “pingdemic” in which people have been told by the app to isolate for 10 days. The drastic reduction in staffing that has resulted has sown chaos through sectors as diverse as food supplies, haulage, supermarkets, hospitality, manufacturing and media. To avoid the chaos, many have simply deleted the app from their phones. Britain’s food supply chains are “right on the edge of failing” as absence related to COVID-19 has aggravated a critical shortage of labour, a meat industry body said on Wednesday. Supermarket group Iceland said it has closed a number of stores due to staff shortages.

Germany announces millions in immediate flood aid as multibillion dollar repair bill looms (Washington Post) The German government approved $470 million in immediate aid for flood victims on Wednesday as it assessed the mammoth task of rebuilding infrastructure torn apart by floodwaters last week. The initial assistance to help people rebuild their homes and businesses after the flooding that killed at least 171 people in Germany will be expanded as needed, Finance Minister Olaf Scholz said. At least 200 people died across Europe, with neighboring Belgium also hit by the surging waters. For longer-term reconstruction efforts of roads, railways, hospitals, water and electricity networks the government is still working out how high the bill will run. The Ministry of Transport and Digital Infrastructure has estimated the damage to the rail networks alone to be $1.6 billion. A week after the worst flooding in living memory ripped through parts of western Germany, entire villages are still without power or the most basic of services. Highways are ripped to pieces, railway bridges lie twisted across rivers clogged with mounds of detritus including cars and caravans. Sewage, water and telecommunications networks have been obliterated.

Turkey pushes Cyprus plan (Foreign Policy) The United States and European Union have condemned a Turkish plan to reopen the abandoned town of Varosha on the divided island of Cyprus. Turkish President Recep Tayyip Erdogan announced the move while visiting the island on the 47th anniversary of the Turkish invasion that seized the formerly Greek-dominated town. A former popular tourist destination, the town has since languished in a military zone. Erdogan’s plan is part of a push to create a two-state solution for Greek and Turkish Cypriots on the island, a proposal the European Union rejects.

Top Indian newspaper raided by tax authorities after months of critical coverage (Washington Post) Indian tax authorities on Thursday raided one of the country’s most prominent newspapers in what journalists and the political opposition denounced as retaliation for the outlet’s hard-nosed coverage of the government’s pandemic response. The Dainik Bhaskar Group, whose Hindi-language broadsheet boasts a combined circulation of more than 4 million, was raided simultaneously in at least four locations, including at its headquarters. The justification of tax evasion was panned by government critics, who pointed out that the Bhaksar has been persistently needling India’s ruling Bharatiya Janata Party (BJP) with its coverage, including as recently as this week. Under the administration of Prime Minister Narendra Modi, who rose to power in 2014, several critical media outlets have found themselves in tax investigators’ cross-hairs, raising fears about the health of the independent press in the world’s largest democracy. Reporters without Borders, the advocacy group, recently placed India at 142nd place in its press freedom rankings, roughly on par with Myanmar and Mexico.

China evacuates tens of thousands as storms spread north (Reuters) Tens of thousands of people were being evacuated from flood-hit regions of central China on Thursday as officials raised the death toll from heavy rain that has deluged Henan province for almost a week to 33 people. More cities were inundated and crops destroyed as the severe weather spread northwards, with the official Xinhua news agency reporting direct economic losses of 1.22 billion yuan ($189 million). In Zhengzhou, where the bad weather reached a peak on Tuesday, the skies had cleared although floodwaters were still at waist height, or higher, with entire streets underwater in many areas.

Madagascar in the grip of drought and famine (Reliefweb) Severe hunger caused by climate change continues to affect southern Madagascar. People are living through the worst drought in 40 years, which has caused an almost total disappearance of food sources. In recent months, for the first time in the country, pockets of Phase 5, or ‘Catastrophe’ food insecurity on the Integrated Food Security Phase Classification, have been recorded. At least 1.14 million people in the Grand Sud need emergency food and nutrition assistance and have been suffering from hunger since the start of the lean season last September. The World Food Programme (WFP) is sounding the alarm: if we don’t act now, the number of people in Catastrophe will double by October.

[coinwealth]

India continues its restrictive approach to crypto; bitcoin, ether run in place

Good morning. Here’s what’s happening:

Prices: Bitcoin and ether run in place, but other major cryptos, including SOL, rose significantly.

Insights: India has not been the friendliest place for crypto lately; BC Technology Group maintains high hopes.

Technician’s take: BTC buyers could remain active over the short term.

Prices

Bitcoin (BTC): $46,957 -0.5%

Ether (ETH): $3,386 +0.4%

Top Gainers

Asset Ticker Returns Sector Solana SOL +8.0% Smart Contract Platform EOS EOS +3.1% Smart Contract Platform Ethereum Classic ETC +2.8% Smart Contract Platform

Top Losers

Asset Ticker Returns Sector Internet Computer ICP −1.0% Computing Filecoin FIL −0.9% Computing Bitcoin BTC −0.8% Currency

Bitcoin and ether are flat

Bitcoin and ether spent another day running in place.

The two largest cryptos by market capitalization were roughly flat over the past 24 hours, bitcoin under $47,000, just below its frequent resting spot the past few days, and ether just under $3,400. It was the second consecutive day where prices of both moved little from where they stood the preceding day.

Most other major cryptos in the CoinDesk top 20 by market cap were in the green, a few significantly so. SOL and AVAX were up 7% and 5% at certainly points, respectively, and the meme token SHIB rose about 3%.

Crypto’s checkered price performance came as Russia continued its unprovoked invasion of Ukraine and new signs of a worsening global, economic environment.

Fueled by war-related increases in fuel prices and worsening supply chain problems, inflation soared in Germany and Spain to highs not seen in both countries since the 1980s. Spain’s consumer price index rose to nearly 10%, jumping by more than two percentage points since February. Germany took an initial step toward natural gas rationing, which about half the population uses for heating.

The price of Brent crude, a widely considered measure of the energy market, hovered over $110 on Wednesday after dipping below $105 earlier in the week.

Oanda Americas senior analyst Edward Moya said that after a week of gains “bitcoin’s rally” was “taking a breather and that should remain the case as war concerns completely dominate the short-term fate for most risky assets.”

Moya was cautious about the asset’s near-term future. “Bitcoin needs a catalyst to make a run towards the $50,000 level, so for now it seems like it could consolidate between the $45,000 and $48,000 levels,” he said.

Markets

S&P 500: 4,602 -0.6%

DJIA: 35,228 -0.1%

Nasdaq: 14,442 -1.2%

Gold: $1,934 +0.9%

Insights

India continues its crypto crackdown; BC Technology Group is Optimistic

As crypto goes, there are easier places to operate than India.

The country’s tax authority announced on Monday that it had seized Rs. 95.86 crore (US$12.6 million) from 11 crypto exchanges on allegations of tax evasion.

CoinDesk had reported in January that the country’s Directorate General of GST Intelligence (DGGI), which oversees tax collection, had previously seized around Rs. 84 crore (about $11 million) in taxes and 1.1 crore ($145,000) in penalties. India’s Minister of State for Finance Pankaj Chaudhary revised the amount to 95.86 crore ($12.6 million) in a statement.

The government said in January that it was investigating six exchanges, including India’s largest exchanges, WazirX, CoinDCX and BuyUCoin, as part of an anti-tax evasion initiative, but Chaudhary updated the number.

The announcement comes a week after the government passed a finance bill that included a whopping 30% capital gains tax on crypto transactions and a 1% tax deducted at source (TDS) and no offsetting losses. The vote ignored lobbying by industry advocates who had hoped to water down at least the source tax.

On Friday, April 1, crypto companies must begin paying the capital gains tax, with T1% tax deducted at the source as of July 1.

Indian Prime Minister Narendra Modi’s government is still planning a rollout of a digital rupee by the end of 2022-23, seen as the cornerstone of the country’s crypto policy. That approach is more cautious and in keeping with the Indian government’s recent authoritarian leanings.

***

HK’s BC Technology Group waits for regulators to catch Up to Web 3

Hong Kong’s BC Technology Group, the parent of the city’s institutionally focused OSL exchange, saw its stock trend upwards as the market opened Wednesday following its strong earnings report.

Bitcoin/U.S. dollar (TradingView)

During a Wednesday morning earnings call, company executives emphasized they still believe a regulated pool of capital provides the biggest opportunity in crypto because there remains a huge market of institutional traders that can’t yet touch anything not regulated.

This includes Web 3, decentralized finance (DeFi) and non-fungible tokens (NFT), Wayne Trench, CEO of OSL, explained on the call.

“DeFi is amazing, but it’s hard for a regulated firm to trade in the DeFi market because of the lack of [anti-money laundering] controls,” he said.

But while the regulatory regime might inhibit some forms of market trading, it also opens up new opportunities. Regulated coin lending, for instance, is something that Coinbase (COIN) has struggled to navigate but regulators in Hong Kong have no problem with it – provided it stays within the closed regulatory loop of other professional investors.

The executive team also mentioned that although OSL is a regulated exchange closed to retail traders, the company does have retail exposure via DBS’s digital assets exchange, which runs on OSL’s software. During its last earnings, DBS said that it is planning to launch a retail exchange by year’s end.

Over the next six months (companies in Hong Kong report earnings bi-annually), all eyes will be on the stock of OSL’s parent company to see if investors are valuing its efforts.

The company is growing significantly by the numbers, and its stock has made some progress in small increments. But on the week it still underperforms bitcoin.

The gap narrowed on Wednesday, at least compared to a month ago, but it still exists. Six months later we’ll see if the market vindicates the company’s regulated-first approach.

Technician’s take

Bitcoin daily chart shows nearby resistance, with RSI on bottom. (Damanick Dantes/CoinDesk, TradingView)

Bitcoin (BTC) is attempting to break above a tight trading range between $46,000 and $48,000 as momentum remains positive.

Initial resistance is seen at the 200-day moving average, currently at $48,312, which could stall the price rally. Still, there is stronger resistance at $50,966, suggesting that buyers could remain active over the short term.

The relative strength index (RSI) on the daily chart ticked higher and is firmly in the overbought zone. Previous overbought signals, however, lasted for three months before a significant sell-off in price.

Important events

ETHDubai: Event for developers and other connected or interested in Ethereum.

8:30 a.m. HKT/SGT(12:30 a.m. UTC): Australia building permits (MoM/YoY Feb.)

9 a.m. HKT/SGT(1 a.m. UTC): China NBS manufacturing purchasing managers index (March)

9 a.m. HKT/SGT(1 a.m. UTC): China non-manufacturing PMI (March)

source https://usapangbitcoin.org/india-continues-its-restrictive-approach-to-crypto-bitcoin-ether-run-in-place/

source https://usapangbitcoin.wordpress.com/2022/03/31/india-continues-its-restrictive-approach-to-crypto-bitcoin-ether-run-in-place/

[pademic]

INDIA’S RECOVERY FROM LOCKDOWN

India is on the verge to complete is 2 years of harsh and painful Lockdown whether the lockdown turned out to be in favor of the citizens can be debated at length.

The economic growth has also been shot in the legs and is still shambling. The RBI has underlined that the damage on the GDP could be permanent, despite playing to the gallery, it boils down to shutting of shops, laborers migrating home which was one of the largest migration in history.

https://www.youtube.com/watch?v=RMgnE-2iyWg&ab_channel=moneycontrol

Ironically, tax records show positive signs. The pandemic has broken the confidence, hopes of the revival. Adding to that Russia- Ukraine’s rivalry added fuel to the fire. The crude oil prices are giving a tough time to the government and putting pressure on the citizens’ pockets. Although, International Energy Agency on 25th March 2022 spread the word that the member countries would release some million barrels of oil which is not going to soothe the oil crises. In New Delhi, the retail price of petrol on Friday was ₹95.41 per liter, while diesel was sold for ₹86.67 per liter.

Having said that Healthcare costs had thrown middle-class people on the other side of the poverty line. The Health costs touched the highest peak of the mountain which was a hug burden on the people, we can imagine the picture of lack of beds, oxygen, etc. Moreover, the farmers are the different section who have faced the weight too, they may grow the crops say wheat but the transportation cost has made them more vulnerable.

https://www.thehindu.com/opinion/editorial/the-spring-blues-the-hindu-editorial-on-indias-recovery-two-years-after-pm-modi-announced-the-lockdown/article65243191.ece

Almost 70% of India’s population live in rural areas, where more than 50% of men and around 70% of women are involved in agricultural work.

Surveys show that the pandemic has affected production, marketing, and transportation through labor and logistical constraints.

[tumbirus]

Indian country jnder feual and daily metrical price heavy making after poors and middle families shoulder and stomach pain high to still.any way unemployment youngers high one India under not up to salaries, less salary under job available after doing to youngers ,our life and family members daily life thinking joint youngers are doing to less wage jobs in India ,volcanoes and business ones u tiling to our benifit name youngers life. So this systems band one day is Narendra ModI band joint one criminals death day after next day ,do Indian justice are tell to truth ,Modi ,Dhah ,Yogi ,RSS ,VHP and Bajrang Dal criminal leaders name idiot life protecting to own ,Modi and ministers are public money use security no more ,public tax money use any political governments leaders are not any security, public leader no, which fear ,after why security ,world social justice order ,Indian country under any ministers ,and priministers are not public money use security ,our own ,only using after making to security .yhid orders are not any appeal ,any way appeal only world court, early soon this law ,starting to judiciary order . Indian peopls are donkeys also, this truth understanding to kodi and criminals ,so our own selfishness making to notorious criminal Narendra ModI and team. Actually Indian country under fuel and daily ,ethical price up one system, stopping one last resort ideolgy non proof making to Indian youngers ,Indian cheaters ,Advani and Ambani all food god downs and Reliance petrol pumps are loot or firing to Immediately ,not any excuse more dare seeing to ours,Indian justice near advance bail ,actually our justce life critical making one criminal Modi and joint one criminals ending and power ending path .do early soon all Reliance petrol pumped are Crack or firing the non proof to youngers ,public want or tendion not understanding one Modi ,Ambani or Advani or Modi joint criminals criminal activities and public money looting ideolgy ending our duty and fundamental right also,any country peopls life issues solution and lift secure our duty also. Barth Martha Ki Jai. (at Mumbai, Maharashtra) https://www.instagram.com/p/Cb4q1eLKo3J/?utm_medium=tumblr

[anuragbatra]

Anurag batra - A Clear Road Map To Growth

In this special issue we carry excerpts of my conversation with the Union Minister of State for Finance, Bhagwat Karad, who shares his perspective of what and who the budget kept in mind, and what it strives to achieve. We also bring in voices from industry who talk of how the budgetary measures will play out through the year and beyond.

The government’s push for green energy and clean mobility systems opens up limitless possibilities for India. As an organisation committed to sustainability, we believe that the clean mobility initiatives and blended fuels will play a significant role in achieving decarbonisation goals and in reducing the dependence on fossil fuels. One of the biggest challenges for the EV ecosystem has been battery charging stations. The proposed battery-swapping policy will help create standards of interoperability, thereby making EVs more accessible and affordable. The PM’s Gati Shakti Initiative of expanding the national highway network by 25,000 km augurs well for the auto sector. We hope the outlay for the rural economy will improve the sentiments of the people and prove a catalyst for increasing the demand for vehicles. In this special issue we carry excerpts of my conversation with the Union Minister of State for Finance, Bhagwat Karad, who shares his perspective of what and who the budget kept in mind, and what it strives to achieve. We also bring in voices from industry who talk of how the budgetary measures will play out through the year and beyond. The Union Budget has provided a clear roadmap to how the Modi government intends to put the India growth story on the fast lane. It has clearly signalled restoration of fiscal consolidation. From a peak of 9.2 per cent of GDP in 2020-21, the fiscal deficit has been reduced to 6.9 per cent in 2021-22. It is budgeted to be further reduced to 6.4 per cent in FY 2023. In its medium-term fiscal policy-cum-strategy statement, the budget projects a fiscal deficit target of 4.5 per cent by 2025-26. Once achieved, it would indeed send out a positive signal to potential global investors. The budget also provides a tangible shift in favour of expanding capital expenditure. While the total expenditure is budgeted to grow by 4.6 per cent in FY 2023, capital expenditure growth is pegged at 24.5 per cent. This is a welcome change. And within the capital expenditure outlay, a clear preference for non-defence outlay will most certainly have a higher multiplier effect going forward. For the salaried class, there are no cheers. However, there are several significant positives that have attracted widespread appreciation from India Inc, such as the provision for a concessional corporate tax rate of 15 per cent applicable on newly incorporated domestic manufacturing companies. A taxation regime for digital assets along with the intention to introduce a digital rupee based on blockchain, are welcome initiatives too. On the downside, the much-talked about privatisation drive seems to have lost steam, indicative in the significantly reduced projections of receipts from disinvestment for not only FY 2021-22 but also for FY 2022-23. All in all though, this is a budget focussed on growth.

Read More : https://www.businessworld.in/author/BW-Reporters/Anurag-Batra-82749/

About Author : 

Dr. Anurag Batra

The author is the Chairman & Editor-in-Chief of the BW Businessworld Group and the Founder & Editor-in-Chief of the exchange4media Group