Former finance minister P Chidambaram took jibe over the interim budget 2019 presented by acting Finance Minister Piyush Goyal today. He claimed that it was not an interim but full-fledged budget with an election campaign speech.
Anil Bharadwaj, the Secretary General of Federation of Indian MSME unpacked the budget for Livemint. He said that the budget would revive the demand and the growth of the country, which had slumped after demonetisation and the GST.
In an interview with Livemint, Piruz Khambatta, Chairman CII (Western Region) and Chairman & Managing Director, Rasna says that the interim budget has been presented with a positive outlook. The Budget announcements have largely taken care of the agriculture sector, middle income class and unorganized sector. The additional income for this population will lead to enhanced spending and higher economic growth. Fiscal deficit of 3.3% forecasted for 2018-19 has been revised upwards by 10 basis points.
In an interview with Livemint, Nilesh Shah of Envision Capital talks about how the budget was overall positive for markets but the bond markets were not quite convinced with the fiscal maths.
In an interview with Livemint, Ramesh Nair, CEO & Country Head, JLL India talks about how the budget provides a much-needed boost to the real estate sector.
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Livemint decodes the implications of tax proposals in interim budget 2019 with personal finance expert Monika Halan. The budget proposed rebates for all those with taxable income of up to Rs. 5 lakh per annum. Tax burden has also been reduced due to the proposed increase in standard deduction from the earlier Rs. 40,000 to ₹50,000. Watch the full video where Monika Halan unpacks how the tax proposals will impact your pockets.
The BJP government announced its interim Budget 2019 on Feb 01. Mint spoke to industry executives at CII's Budget event in New Delhi on Friday. Here industry leaders across real estate, healthcare, infrastructure, and taxation, share their views on how the Modi government fared in its Budget 2019 announcements.
Budget 2019: Finance Minister Piyush Goyal proposed many changes in income tax rules for the year 2019-20. Besides higher standard deduction, he also proposed tax rebates for those earning ₹5 lakh per annum. Tax experts unpack how these proposals will impact the pockets of the middle class. Presently, income up to ₹2.5 lakh is exempt from personal income tax. Income between ₹2.5 and ₹5 lakh attracts 5% tax, while that between ₹5 lakh and ₹10 lakh is taxed at 20%. Income above ₹10 lakh is taxed at 30%.
In an interview with Livemint, Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. decodes the good, bad and ugly of the budget. Goenka is of the view that the budget was a balanced one.
Hindustan Times unpacked the Interim Budget 2019 with Dr. D K Srivastava from Ernst & Young and Hitesh Sawhney from PricewaterhouseCoopers. Given that it’s a pre-election budget, Dr. Srivastava spoke about the positive aspect of the cash dole given to marginal farmers but also pointed out how it would add to their disposable incomes which will partially add to consumption expenditure. On the other hand, Hitesh Sawhney explained how the government devised the budget keeping in mind the upcoming elections.
The ruling NDA government’s interim budget announced on Feb, 01 ticks all the boxes as a populist budget, Sunil Kant Munjal, Chairman, Hero Enterprise told Mint in an interview as it helps the distressed and informal sectors with the much-needed social security. Munjal also praised the government’s attempt towards maintaining fiscal discipline. For FY 20 the government has pegged fiscal deficit at 3.4%, that Munjal views as a positive.
Finance Minister Piyush Goyal reacts to media reports that National Sample Survey Organisation (NSSO) data was leaked which stated that unemployment was at a record high of 45 years. He said that the consistent growth of the Indian economy and GDP shows that high unemployment is not the case.
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It is widely believed that the interim budget may contain certain sops for farmers in a bid to revive the rural economy. Eminent economists who were part of the Mint Budget Round Table believe that loan waivers will not do much to revive the rural economy. “Loan waivers will revive the wrong kind of rural demand,” says economist Indira Rajaraman. “Structural reforms are needed to revive the collapsing rural economy,” says Himanshu, assistant professor at JNU. Watch the full video for all this and more.
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The Narendra Modi-led government will present an interim Budget on 1 February ahead of the general election scheduled later this year. The budget is widely expected to contain certain sops for farmers and the middle class. The Mint Budget Round Table brought together a panel of eminent economists to discuss the expectations ahead of this year’s budget. What will be the political and fiscal impact of this budget? Watch the full video for all this and more.
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Congress party president Rahul Gandhi on Monday formally put the idea of the universal basic income on the political agenda after he promised to implement it if the party was voted to power in the forthcoming general election. First proposed by former chief economic adviser in the finance ministry Arvind Subramanian in his Economic Survey for 2016-17, universal basic income (UBI) is a form of social security guaranteed to citizens and transferred directly to their bank accounts to ensure a minimum living standard for all.
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The Mint Budget Roundtable invited a panel of economists - Arvind Virmani, Indira Rajaraman and Himanshu - to discuss the expectations ahead of this year’s budget. We also asked readers to share questions that they had regarding the interim budget. Livemint.com received a host of queries on social media. Watch the full video for their answers.
