A large portion of Sitharaman’s speech was dedicated to climate action and the energy transition — from supporting low-carbon sectors, to the announcing of green bonds.
When presenting a Budget like 2022, political management is a bit of a problem. Here, Nirmala Sitharaman needs more than good English and bad Economics.
Budget deficit target is doable, increased capex is a positive & it takes a realistic, if political, view of disinvestment. But protectionism, rising debts, slashed subsidies are problems.
In Budget 2022, FM Sitharaman labels cryptocurrencies as ‘digital assets’ and not currency, and taxes income gains from their transactions at a high 30%.
According to documents, the slash is to account for reduced Covid vaccination need, even as 2nd doses are awaited for most aged 15-18 years & vaccinations for children are yet to roll out.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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