Here is an interesting graphic explaining the growth and spending story
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
Here's a selection of Business Standard opinion pieces for the day
Budget could be a good starting point for deeper banking reforms
Gross value added by agriculture did not dip in 2020-21; rather, it was the only sector that showed growth
Analysts say it could be 10% more than allocation for FY21
What began with food security, off-Budget financing now caters heavily to a range of core spending areas
Rural economy is helping consumption demand, but it is inadequate to compensate for the loss of urban demand.
Edelweiss Securities expects earnings momentum in the sector is likely to accelerate in Q3FY21 driven by good start to Rabi along with a healthy cash flow position of farmers
The pension regulator also wants tax parity for employees of state governments and private companies with those of the central government in respect of contribution to the NPS
The numbers in aggregate mean the Government of India will not let the fiscal deficit run away in FY22
Say India needs to bring down import duties over time
CREDAI suggested government to increase tax exemptions in upcoming Budget to boost housing demand and enhance limit of deduction under section 80C of income tax for principal repayment on home loans
The report of 15th Finance Commission, which will be released along with the Budget, will pave way for tax revenue sharing in coming years
Given the market / pandemic situation, there is an overall fall in the fair market values of properties
Risk factor: Printing requires staff to be cooped up in North Block for a fortnight
The Budget will be presented in the backdrop of a revival of the economy and expectations of good corporate earnings in the December quarter
Say India needs to bring down import duties over time
In the fifth episode, we discuss about expenditure side of the Budget and look at sectors that have traditionally not been India's top expense areas but are now in the spotlight because of pandemic
MSMEs, education, India's police forces might need more support in the coming year to realign their development and spending goals