Topic: Direct taxes

Cushion from a high nominal GDP base will not be around in FY24. Budgeted expenditure will be vulnerable to pruning in case of shortfall in revenue realisation.

Trigger could be news that Credit Suisse won't accept Adani bonds as collateral for loans. Gautam Adani says not ‘morally correct’ to continue with FPO amid stock price volatility.

Capital budget increased to Rs 1.62 lakh crore from 1.52 lakh crore. Navy, Army see substantial increase but allocation for procuring aircraft, aero engines goes down.

Most key Hindutva/RSS objectives have been achieved, and Modi & BJP now need social calm, at least till summer of 2024. A de-escalation of some sort is on.