With less than a week to go, the last full Budget of the government has entered the last mile. Budget 2023-24 comes at a time when the global economic environment continues to be troubled. The confluence of global headwinds is triggering fears of an imminent global recession. With US, European Union, and China slowing down simultaneously, it is expected that global growth would slow to 3.2 per cent in 2022 and is pegged at 2.7 per cent in 2023.
Nevertheless, India with 7% GDP growth rate estimated for 2022-23, represents a beacon of hope in an otherwise bleak global economy. However, while Indian economy has done well relative to most economies, it is not immune to global slowdown and uncertainties. Hence, the budget must focus on strengthening India's macro-economic stability as well as continue to provide support to recovery. Directionally it should also take forward the reforms process to unlock India's latent growth potential.
Fiscal consolidation is imperative for macro-economic stability. The Budget should lay down the fiscal consolidation roadmap and adhere to the target of 6.4 % of GDP for this fiscal and bring it down to 6.0% of GDP in FY24 and 4.5% by FY26.This would be done through revenue mobilization and expenditure control.
هذه القصة مأخوذة من طبعة January 29, 2023 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 29, 2023 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
MG Windsor recorded 15,176 bookings on first day
MG Windsor EV, India's 1st Intelligent CUV, received a significant customer response minutes after the bookings commenced on Thursday, October 3, 2024, at 7:30 am.
HERO MOTOCORP SOLD 5.12 LAKH UNITS OF MOTORCYCLES AND SCOOTERS IN AUGUST
Hero MotoCorp, a manufacturer of motorcycles and scooters, sold 512,360 units of motorcycles and scooters in August 2024, the company informed the exchange in a filing.
Govt subsidies, falling battery prices to make EVs more accessible
Government subsidies and declining battery prices are making electric vehicles (EVs) more accessible even though they still have higher upfront costs than conventional internal combustion engine (ICE) vehicles, Axis Securities said in an analysis.
eHUB by MG app crosses 15,000 downloads in two months
SW MG Motor India today announced that it has achieved a milestone of 15,000 downloads for the eHUB by MG app since its launch on 6th August this year.
GOVT NOTIFIES PM E-DRIVE SUBSIDY SCHEME WITH RS10,900 CR OUTLAY
The central government notified the PM Electric Drive subsidy scheme with an outlay of Rs10,900 crore, which will be implemented from tomorrow, October 1, 2024, till March 31, 2026.
The all-new BMW M4 CS launched in India
The car will be available in the country as a Completely Built-Up (CBU) model and can be booked at the BMW dealership network.
SC dismisses review petitions on taxation of mines
The Supreme Court has dismissed petitions seeking a review of its landmark 9-judge bench judgment, which affirmed that states possess the authority to levy taxes on mineral-bearing lands and clarified that royalties on extracted minerals do not constitute a tax.
COURT PLACES ASHISH PANDEY IN CBI CUSTODY
A court in Kolkata has recently placed Sandip Ghosh, the former principal of RG Kar Medical College and Hospital, and suspended police officer Abhijit Mondal in 14-days of judicial custody.
MP HC dismisses plea of man booked for offensive post
The Madhya Pradesh High Court has dismissed a petition from a man seeking to quash an FIR related to an allegedly offensive post on his Instagram account targeting Lord Ram, Uttar Pradesh Chief Minister Yogi Adityanath, and Hinduism.
CJI reminds lawyer he's 'still in charge'
Chief Justice of India (CJI) DY Chandrachud, who is set to retire in November, reminded a lawyer on Thursday that he is \"still in charge\" despite his short remaining tenure.