Page 6 - Budget 2021
India's Budget points to a loosening of fiscal policy: Fitch Ratings
The Budget points to a loosening of fiscal policy to support the country's ongoing economic recovery from the pandemic and will consequently lead to a rise in public debt, Fitch said
 "India's Budget points to a loosening of fiscal policy: Fitch Ratings")
How will we give jobs? PM Modi's strong pitch for privatisation
Prime Minister Narendra Modi on Wednesday stressed on the private sector's vital role in the economy and asserted that the culture of 'abusing' it for votes is no longer acceptable. If the public sector is important, the role of the private sector is also vital, he said during his reply in Lok Sabha to the discussion on the motion of thanks to the President's address. Watch the video for more.
 "How will we give jobs? PM Modi's strong pitch for privatisation")
A decent Budget but big challenges remain
Budget assures double-digit growth in FY22, but does little for unemployment, inflation, foreign trade and medium-term growth
 "A decent Budget but big challenges remain")
Centre slams Congress for absence during budget discussion in Parliament
Union Cabinet Minister Giriraj Singh highlighted the absence of Congress MPs in the house to the Speaker
 "Centre slams Congress for absence during budget discussion in Parliament")
Best of BS Opinion: Increasing fiscal constraints, Budget 2021, and more
Here's a selection of Business Standard opinion pieces for the day
ICAI wants FM to withdraw Budget proposal on doing away with GST audit
The Institute argues that benefits of such an audit outweigh ease of compliance that the new rule would bring for assessees
 "ICAI wants FM to withdraw Budget proposal on doing away with GST audit")
Regulation is key
Banning cryptocurrencies is a poor idea
 "Regulation is key")
Budget allocation of Rs 7524.87 cr highest ever for tribal ministry: Secy
The ministry this year has seen a 36.62 per cent increase in allocation over the previous year's revised estimate of ₹5,508 crore
 "Budget allocation of Rs 7524.87 cr highest ever for tribal ministry: Secy")
Increasing fiscal constraints
Govt must focus on mobilising more revenues
 "Increasing fiscal constraints")
AAR in new avatar: Old wine or efficient machinery for disposal of cases?
Experts say while the backlog of cases will most likely be reduced, the quality of rulings may not inspire taxpayers
 "AAR in new avatar: Old wine or efficient machinery for disposal of cases?")
Opposition slams govt in Lok Sabha for ignoring 'aam admi' in budget
The Opposition slammed the government in the Lok Sabha on Wednesday for ignoring the "aam admi" and showing insensitivity towards agitating farmers
LIVE: Govt respects sentiments of farmers but reforms needed, says Modi
PM Modi replied to the Motion of Thanks on the President's address. Stay tuned for latest LIVE news updates.
 "LIVE: Govt respects sentiments of farmers but reforms needed, says Modi")
Would industry still hail a budget without tax sops if cost of money rises?
Higher interest rates will clip investment plans of companies and could bad news for FM Nirmala Sitharaman who feels she has kept her part of the deal in Budget FY22 by not raising taxes
 "Would industry still hail a budget without tax sops if cost of money rises?")
Understanding the zero-sum game of the new agriculture infra cess
While the FM has ostensibly got her act right on imposing the levy without punishing the consumer, questions about the share of states, the rate structure and the use of funds remain
 "Understanding the zero-sum game of the new agriculture infra cess")
Govt's vehicle scrapping policy may be hobbled by lack of strong incentives
Automakers are counting on the plan to boost sales, which have been smashed by a widespread fall in demand
 "Govt's vehicle scrapping policy may be hobbled by lack of strong incentives")
SBI Life, HDFC Life: Insurance cos eyeing reforms, stay invested: Analysts
While on one hand the Budget proposed to increase the FDI limit in the sector to 74 per cent, it also proposed to levy capital gains tax on ULIPs rendering insurance an unattractive investment option
 "SBI Life, HDFC Life: Insurance cos eyeing reforms, stay invested: Analysts")
Old wine, new bottle
New DFI should not just be a bailout of the old
 "Old wine, new bottle")
Congress MP presses for increasing Budget discussion time from 10 to 12 hrs
As the Rajya Sabha proceedings began on Wednesday, Congress Member of Parliament (MP) Jairam Ramesh said that the time to discuss the Union Budget should be increased from 10 to 12 hours
 "Congress MP presses for increasing Budget discussion time from 10 to 12 hrs")
Budget discussion likely to begin first in Rajya Sabha, 6th time in history
Departing from the usual practice, the discussion on Union Budget is likely to start first in Rajya Sabha. This is only for the sixth time Upper House will take up the discussion before the Lok Sabha
 "Budget discussion likely to begin first in Rajya Sabha, 6th time in history")
Top headlines: New rules on holding firms unclear, Ruia's EoI for Air India
From New Budget rules on holding firms queering the pitch for sovereign, pension funds to Pawan Ruia's EoI for Air India, Business Standard brings you the top headlines at this hour
 "Top headlines: New rules on holding firms unclear, Ruia's EoI for Air India")