Новости за 02.02.2020

The move to provide more private passenger trains and increase solar capacity for the Indian Railways in the budget is focused on giving opportunities to the private sector as well as promote domestic manufacturing.

The FM’s strong focus on ‘soft infrastructure’ elements such as education, and the skilling of youth, healthcare and sanitation, and the welfare of women is welcomed.

The government plans to involve the corporate sector more in public private partnership (PPP) projects, including for rural connectivity and hospitals, with viability-gap funding to make those profitable.

The budget proposed scrapping dividend distribution tax (DDT) that used to be paid by companies. Earlier, a mutual fund scheme had to pay a dividend distribution tax after which the payout was made to its unitholders.

In all, the Budget was a mixed document as has been the trend over the last few years. One has to wait for a clearer picture on the path the Modi government plans to revive demand in the economy. Nevertheless, the fact that the government is willing to step out of the fiscal constraints is a step forward in that direction.

Purified terephthalic acid (PTA) producers such as Reliance Industries Ltd, Indian Oil Corp, JBF and MCPI face a hit on their margins as the government has abolished anti-dumping duty on the chemical, which is a raw material for synthetic textile.

The power sector is poised for key reforms in distribution, the weakest link in the electricity value chain, as the budget contained proposals that are expected to alleviate stress and boost investment.

Tax collections fell on account of poor goods and services tax (GST) collections and lower personal income-tax (I-T) receipts; disinvestment was 38% below the budget estimates (BE); and expenditure could not be sufficiently compressed.

The pro-farmer 16-point action plan is aimed at deregulation, modernisation and economic reforms in agriculture. It has also been supplemented by substantial capital outlay in the farm sector.

The Delhi High Court will on Sunday hold a special hearing as it issued a notice to Tihar jail authorities and the Nirbhaya convicts and sought their response on a plea moved by the Centre challenging the stay on their execution.

The nominal GDP in 2019-20 is assumed to grow by 10%. This is realistic. The gross tax revenue is assumed to grow by 12%. Thus, the buoyancy is greater than one that did not materialise in the current year. The reliance on disinvestment is high, even after allowing for LIC disinvestment.

With a crashing GDP, declining consumption and decreasing investments, the nation was expecting a visionary and futuristic budget that would revive business sentiment.

Total budgetary provision for the rural sector is poised to grow by 13.4% in FY21 after a significant jump of 34.8% in FY20. This concerted policy push will eventually help in boosting rural purchasing power, in line with the prime minister’s vision of doubling farm incomes by FY22.

Air India's jumbo B747 made two flights to Wuhan city - the ground zero of the coronavirus epidemic that has killed 304 people and infected 14,380 others.

The Narendra Modi government does not understand the problem facing the Indian economy and thinks it can fool the people by publicity or tweaking income tax rates that won’t bring any benefit to people, Madhya Pradesh Chief Minister Kamal Nath says.

The budget has also stated that the amount of extra budgetary resources (EBR) borrowings for the current fiscal would be Rs 1.72 lakh crore while the figure stands at Rs 1.86 lakh crore for FY21.

The Lok Sabha on Saturday witnessed anxious moments when finance minister Nirmala Sitharaman fell uneasy in the final lap of a record 165-minute budget speech, probably due to fall in sugar level or strain caused by standing for almost three hours while reading her speech.

Many cities led by Delhi and Gurgaon are regularly listed among the world’s most polluted, with air quality frequently deteriorating to alarmingly hazardous levels, which have triggered a public outcry.

Congress said the budget was devoid of a clear message or memorable idea and alleged the government "has given up on reviving the economy or accelerating the growth rate or promoting private investment or increasing efficiency or creating jobs or winning a greater share of world trade."

To be fair to the disinvestment department, it was in July that I announced it (the targets) and by February, they had done all the necessary leg work … and it is going to happen in a couple of months, said Sitharaman.

While education kitty has got only 4% more, foreign universities can partner Indian institutes via ECBs & FDI.

The budget has given a decisive push to social sector with enhanced allocations for welfare schemes and a renewed emphasis on education for SCs, STs and other vulnerable sections of the society, including senior citizens, transgenders and beggars.

Focus is on helping farmers become competitive with liberal agri markets & state support for livestock, fisheries.

In keeping with the BJP’s ideological push to promoting the country’s culture and heritage, the culture ministry will also develop Shiv Sagar in Assam, the capital of the Ahom Rajas and Adichanallur, the capital of Pandian kings in Tamil Nadu.

“The Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage for a depositor, which is now Rs 1L, to Rs 5L per depositor,” said FM. “I wish to inform this august house that the robust mechanism is in place to monitor the health of all scheduled commercial banks & that depositors’ money is safe."