Daily News Prescription 6th July 2019

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By Moderator July 6, 2019 07:14

Budget 2019-20

Nirmala’s maiden Budget is all about incremental measures (The Hindu)

Extra deduction of ₹1.5 lakh on loans for affordable houses; higher surcharge for super-rich; ₹70,000 cr. to be infused into public sector banks; Aadhaar can be interchanged with PAN to file I-T returns

Fiscal deficit target revised downwards to 3.3% (The Hindu)

The government is estimating a fiscal deficit of 3.3% of GDP in financial year 2019-20, lower than the 3.4% estimated earlier in the interim Budget presented in February.

₹1.05 lakh crore is disinvestment target (The Hindu)

The government has set itself a target of ₹1,05,000 crore for disinvestment proceeds for financial year 2019-20. Finance Minister Nirmala Sitharaman has termed this a “fairly realistic” target despite it being ₹20,000 crore more than what was achieved in the previous year.

Bond prices rise after FM speech (The Hindu)

Apart from addressing supply issues in the domestic market, the move could also help to reduce borrowing costs for Indian companies.

RBI can supersede NBFC board (The Hindu)

The non-banking finance companies that are facing a crisis of confidence saw a slew of measures from the budget to restore investors’ confidence in the sector.

Bucks for the banks (The Hindu)

The maiden budget of Nirmala Sitharaman has many interesting features, but it does not have a defining central theme.

Choosing the long view (The Hindu)

The first Budget of the new government in the 17th Lok Sabha powerfully recommits to the vision guiding the last term emphasising continuity, individual empowerment and infrastructure for nation building, fiscal consolidation, discipline, and process improvements.

Falling far short of the goal (The Hindu)

The rhetoric in the Budget of accelerated, inclusive and sustainable development receives only limited financial backing

Searching for reform signals (The Hindu)

There were high expectations from the Budget to provide a clear road map for much-needed reforms, given that the government received an unprecedented electoral mandate.

A Budget that goes nowhere (The Hindu)

It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

The macro does not gel with the micro (The Hindu)

If only five points in the Budget are to be highlighted, I would choose bank capitalisation; rural electrification to be completed by 2022; a final push for water and sanitation, making India open defecation free by October 2 this year; encouraging solar power usage; and tax-related changes.

Unpacking the Budget (Indian Express)

The last financial year has witnessed the Indian economy lose growth momentum. India’s real GDP growth fell from 7.2% in 2017-18 to 6.8% in 2018-19 — a five-year low. In fact, the GDP growth rate in the fourth quarter of 2018-19 was just 5.8% — the lowest in 20 quarters.

Union Budget 2019-2020: Government giving more importance to food fortification (Down to Earth)

The Union Budget 2019-2020 saw progress on the issue of food fortification. Under the Centrally Sponsored Scheme on Fortification of Rice and its Distribution under Public Distribution System 2019-2020, a total of Rs 192,240.39 crore has been budgeted, Parliament was informed. This is an increase from the Rs 174,159.10 crore budgeted in 2018-19.

Union Budget 2019-20: Govt makes major push for easy adoption of e-vehicles (Down to Earth)

The Union Budget 2019, tabled in Parliament by Finance Minister Nirmala Sitharaman on July 5, 2019, has pushed for easy and faster adoption of electric vehicles (EV) in the country.

Defence and Security

India’s national security challenge (ORF)

The gradual shift in the balance of power from the West to the East has introduced security competition among the major states. As India’s economic and military profile grows in the wider Indo-Pacific, it too faces a range of intrastate and interstate security challenges, which it has to manage.

 

Moderator
By Moderator July 6, 2019 07:14