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Topic: Budget 2020

Finance Minister Nirmala Sitharaman in the Lok Sabha. | Photo: ANI

FM Sitharaman budgets Rs 1.67 lakh crore of extra expenditure, mostly for Covid package

This expenditure includes Rs 40,000 crore towards enhanced expenditure under MNREGA. The first batch of Supplementary Demands for Grants includes 54 Grants and 1 Appropriations.

Budget 2020 is now useless. Modi govt must present a new one

Covid has ensured Modi govt won’t meet 20% growth in tax collection target. That would be a terrible assumption to make in a pandemic-hit economy.
A server room in a data centre | Representational Image | Commons

Incentives and infrastructure — what govt can do to boost data centres in India

The Centre plans to make India a $1 trillion digital economy by 2025, which will attract countries wanting to set up data centres in India.
File image of Finance Minister Nirmala Sitharaman in the Lok Sabha | Photo: Lok Sabha TV/PTI

Relief for India’s overseas students, govt cuts 5% ‘tax at source’ Budget proposal to 0.5%

Among amendments to the Finance Bill moved by Nirmala Sitharaman, the govt has clarified that NRIs will only be taxed on income they earn in India.
Union Finance minister Nirmala Sitharaman at Income Tax Day event in New Delhi | Suraj Singh Bisht | ThePrint

I-T cases being arbitrated abroad will be eligible under proposed ‘Vivad se Vishwas’ scheme

The I-T department in advertisements in leading dailies said that appeals and writs filed on or before January 31 this year will be allowed to be taken up by it.
Narendra Modi

Facing a fiscal crisis for long, Modi govt now seems to be pushing states into a crisis too

Either Modi govt is expecting a revenue windfall that will be passed on to states, or states will be squeezed even further. My guess is it will be the latter.
LIC headquarters in Mumbai

How the LIC mega IPO can also help reform India’s larger financial sector

If done right, IPO can bring transparency & efficiency to LIC, ensure govt doesn’t force it to buy weak PSUs, and improve resource allocation in the economy.
Prime Minister Narendra Modi with US President Donald Trump during the ‘Howdy! Modi’ event in Texas last year | Photo: Scott Dalton | Bloomberg

Sanjaya Baru on altered India-US relations, Ruchir Sharma & Sandipan Deb go to the Oscars

Today’s political, economic & strategic punditry from Sanjaya Baru, Ashok Gulati, Ruchir Sharma, Tamal Bandopadhyay, Prabha Kotiswaran & many others.
RBI governor Shaktikanta Das | Praveen Jain/ThePrint

Budget proposals unlikely to have inflationary impact, says RBI Governor

Das says that the government has tried to remain within the fiscal deficit roadmap set under the Fiscal Responsibility and Budget Management Act.
MNS Rally in Mumbai

BMC’s ‘blatant oversight’ that has Raj Thackeray’s MNS riled up

Pre-Truth — snappy, witty and significant snippets from the world of politics and government.

On Camera

File photo of Bihar CM Nitish Kumar | Facebook/NitishKumarJDU

The curious case of Nitish Kumar — 87% anger, 100% victory

In the supposedly most-politicised state in India, people say they don’t have ‘options’ this election.

Tata woos investors for digital platform as it seeks to compete with Jio, Amazon, Flipkart

Tata Sons is working with advisers to explore bringing in financial or strategic investors, including global tech companies, for its new digital entity.

Defence

Defence Minister Rajnath Singh releases the New Defence Acquisition Procedure (DAP) at the Defence Acquisition Council (DAC) meeting, in New Delhi on 28 September 2020 | @DefenceMinIndia | Twitter

Govt scraps offset policy for govt-to-govt deals, allows leasing of defence equipment

The new Defence Acquisition Procedure 2020, which was unveiled by Defence Minister Rajnath Singh Monday and kicks in on 1 October, also cuts down procurement time.
Narendra Modi and Amit Shah | File photo: T. Narayan | Bloomberg

Partners dispensable in Modi-Shah construct if they do not bring additional votes

In the Modi-Shah construct, if partners do not bring additional votes, they are dispensable. However old or loyal, either they become supplicants, or die.