The Interim Budget 2019 has been prepared keeping in view certain international and national developments.
A cursory look at the events that have taken place at the international front showcase a fluctuation in the prices of crude oil from $65 per barrel in April 2018 to a high of $85 per barrel in October 2018, eventually stabilising at $60 per barrel. Increase in the Bombay Stock Exchange (BSE) from 32000 points in April 2018 to 38000 points in August 2018 and then, stabilising at 36000 points and an increase in the rate of interest by US Fed from 1.5% in May 2018 to 2.25% in December 2018 were some of the other important domestic and international economic developments.
These developments led to a decrease in foreign exchange reserves from $426 billion in April 2018 to $396 billion in January 2019 despite the fact that India’s rank in ease of doing business improved to 77 in 2018 from 100 in 2017 and corruption index improved to 78 in 2018 from 81 in 2017. On the domestic front, unachieved disinvestment proceeds ( 35000 crore against the targeted 80000 crore) along with a shortfall in GST revenue by rupees one lakh crore and gross tax revenue of 23000 crore for FY19 compounded the problems of the finance ministry. The political compulsions after losing all the five states in the assembly elections recently necessitated the pruning down of the obsession with the reduction in fiscal deficit. Under such circumstances, the stand-in Finance Minister (FM) Piyush Goyal presented a budget, which doled out sops for all - rich, poor and middle classes, workers in the unorganised sector and farmers.
Are these extended populist measures actually going to make some difference to society or are these are merely jugglery of figures? Let us examine the announcements.
Denne historien er fra March, 1-15, 2019-utgaven av BUSINESS ECONOMICS.
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Denne historien er fra March, 1-15, 2019-utgaven av BUSINESS ECONOMICS.
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Deposit shortage: challenges facing India's banking ecosystem
In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.
India's future dreams in Semiconductors & AI
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".
The Ramayana: Justice and Modern Man
Consisting of Twenty-Four Thousand worthy Sanskrit verses, the Ramayana is one such epic, which provides a pathway to one committed to justice to establish himself as an ideal human being by following the exemplary life of its hero.
Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
Sardar Vallabhbhai Patel was instrumental in unifying the princely states to form the Union of India.
Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development
The Royal Swedish Academy of Sciences has awarded the Memory of Alfred Nobel to three US-based economistsDaron Acemoglu, Simon Johnson, and James A. Robinson\"for their studies on how institutions are formed and affect prosperity.\"
Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.
Tourism Industry positively impacted by the festive season
Diwali transforms streets into a spectacle of festive lights, Diwali transforms streets into olis, and families gearing up for grand celebrations.
RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.
UK Budget
There _ he latest UK budget represents a departure from previous fiscal documents.
Han Kang's Historic Nobel Prize Win
The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.
