The Flip Side Of Interim Budget 2019
BUSINESS ECONOMICS|March, 1-15, 2019

The Interim Budget 2019 has been prepared keeping in view certain international and national developments.

Dr. Rajiv Khosla
The Flip Side Of Interim Budget 2019

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.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra March, 1-15, 2019-utgaven av BUSINESS ECONOMICS.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS ECONOMICSSe alt
Elections 2024: Illusion & Reality
BUSINESS ECONOMICS

Elections 2024: Illusion & Reality

Whenever there is an election, we find the politicians speaking in hyperboles – and possibly, 2024 Lok Sabha has reached a crest.

time-read
3 mins  |
June 01 - 30, 2024
Government initiatives aim to bolster rubber cultivation and innovation
BUSINESS ECONOMICS

Government initiatives aim to bolster rubber cultivation and innovation

Rubber tree plantation has seen significant growth in India, thanks to robust government oversight and favorable weather conditions.

time-read
3 mins  |
June 01 - 30, 2024
Macron speaks on Europe's economic fragility
BUSINESS ECONOMICS

Macron speaks on Europe's economic fragility

Many heads of state often speak on topics over which they have little control or vested interest.

time-read
2 mins  |
June 01 - 30, 2024
Indian industries stand to benefit in raising of tariff on Chinese imports to the US
BUSINESS ECONOMICS

Indian industries stand to benefit in raising of tariff on Chinese imports to the US

A delicate balance of power and influence exists between the United States of America and China.

time-read
1 min  |
June 01 - 30, 2024
Chabahar Port Agreement: Part of India's strategic and economic vision for Central Asia and Europe
BUSINESS ECONOMICS

Chabahar Port Agreement: Part of India's strategic and economic vision for Central Asia and Europe

On May 13, India and Iran signed a 10-year contract to operate the Chabahar port in Iran.

time-read
2 mins  |
June 01 - 30, 2024
It is quite incredible to see things of interest happen with the blessings of the divine trio
BUSINESS ECONOMICS

It is quite incredible to see things of interest happen with the blessings of the divine trio

Swamiji once said, “The wind of divine grace is always blowing. You just need to spread your sail.

time-read
4 mins  |
June 01 - 30, 2024
The battle for sustainability: Earth Day's message of 'Planet vs. Plastics
BUSINESS ECONOMICS

The battle for sustainability: Earth Day's message of 'Planet vs. Plastics

World Earth Day, observed annually on April 22 worldwide, commemorates contemporary environmental advancements and promotes awareness of the imperative to conserve Earth and its resources.

time-read
4 mins  |
June 01 - 30, 2024
Mother Teresa International Award 2024: Celebrating Humanity and Service
BUSINESS ECONOMICS

Mother Teresa International Award 2024: Celebrating Humanity and Service

The Mother Teresa International Award, a prestigious honor recognizing individuals dedicated to serving humanity, will host its 2024 ceremony in Dubai, United Arab Emirates.

time-read
2 mins  |
June 01 - 30, 2024
Can India get out of the middle income trap?
BUSINESS ECONOMICS

Can India get out of the middle income trap?

In the mid-1980s, international financial institutions moved away from calling their member countries as poor and rich countries, or as developed and less developed countries.

time-read
4 mins  |
June 01 - 30, 2024
How is India's falling household savings rate worrisome for its development?
BUSINESS ECONOMICS

How is India's falling household savings rate worrisome for its development?

There has been a sharp reduction in the household net financial savings rate in 2022-23, leading to an overall decline in the financial savings rate.

time-read
2 mins  |
June 01 - 30, 2024