Data shows 'revenue foregone' due to tax incentives mostly benefited corporates in 2004-05. Situation improved by 2013-14, but individuals became main beneficiaries only under Modi govt.
In interview with ThePrint, finance secretary spoke on Budget, how central govt can encourage states to increase capex, MGNREGA allocation & if food, fertiliser prices will fall.
The Union Budget's impetus towards tourism and housing will help generate employment opportunities, plus rationalisation in food and fertiliser subsidy is a welcome development.
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.
See the political messaging in this budget. It is an uncluttered continuation from last year and is a statement of confidence, bordering on overconfidence.
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.
States to set up ‘Unity Malls’ with objective of promotion & sale of ‘1 district, 1 product’, GI & handicraft. Amount allocated to tourism ministry same as last time, at Rs 2,400 cr.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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