Economy

Budget 2018: Along with farmers, poor, Modi govt woos minorities too

Budget 2018: Along with farmers, poor, Modi govt woos minorities too

The aggregate spending on infrastructure was raised by Rs 1 trillion to Rs 9.97 trillion in 2018-19, but mostly through extra budgetary resources. "I am glad to hear that Rs. 1 lakh crore are to be invested over the next 4 years into a new drive to boost Research and Development". "With focus on growth, it is the budget to look forward that would add an impetus to India's growth story", Micromax's Aggarwal noted in his comments.

This predictably exhausted justification is that this will spur domestic manufacturing and job creation.

True to the expectations, the budget turned out to be a bonanza for rural India.

On corporate tax, Jaitley pointed to the proposed reduction to 25 per cent from the coming fiscal for companies which had a turnover up to Rs 250 crore during 2016-17. Fresh investors in equities will have to pay 10 per cent tax on their gain over Rs1 lakh.

Many of the MSME in the automotive industry manufacture spares and parts for cars and bikes and with the decrease in the corporate tax, the could decrease in the cost of manufacturing; however, it is to be seen if automakers will pass on the benefits to customers. Some 18,000 km of doubling, third and fourth line works and 5,000 km of guage conversion will be taken up to transform nearly the entire network into broad guage. The budget announced that the government will buy all agriculture produce from farmers at a minimum guaranteed price of 1.5 times the cost of production.

"British investors will recognise the considerable progress on economic reform the Finance Minister outlined in his statement, including the implementation of the Goods & Services Tax (GST), and measures to improve the ease of doing business, as well as a more open climate for foreign direct investment".

The move is an attempt to increase India's manufacturing base, as part of Prime Minister Narendra Modi's long-standing "Make in India" initiative.

A Series Of Unfortunate Events to end after season 3
Season two was announced two months after the first season ended, with a third season renewal not long after. Yet, there's something admirable about running a show with The End (the title of the last book) in sight.

On the health front, the government plans to launch a flagship scheme to cover more than 100 million poor and vulnerable families (approximately 500 million individual beneficiaries).

Higher allocation to the agriculture sector shows the government's commitment towards rural areas, poor and farmers, he added.

That apart, the government announced two separate funds with a corpus of Rs 10,000 crore to create infrastructure in fishery, aquaculture and animal husbandry sectors, Rs 2,000 crore as agri-market infrastructure fund and Rs 1,290 crore for the national bamboo mission.

According to Jaitley, the MUDRA Yojana launched in April 2015 has led to a sanction of Rs 4.6 lakh crore in credit to some 10.38 lakh MUDRA loans. "It is imperative to project this image with elections in states like Karnataka, Rajasthan and Madhya Pradesh due later this year", a party general secretary tells Outlook.

Is there any guarantee that the government will be able to stick to the fiscal deficit target in 2018-19-a year when spending is high and revenue projections are very aggressive. Last year, we'd reduced the tax rate to 5 per cent for those with an income of less than 5 lakh per annum.

India's finance minister said Thursday that the country wants to "eliminate" the use of cryptocurrencies in criminal activities. Despite that, he did keep his aim low for the next year. While this may help, to get a better understanding of the impact of public capital expenditures, we need to know the investment plans of public sector enterprises. The merged entity is expected to be listed at some stage.

"The government has kicked out its steady 3 per cent fiscal deficit target further to 2020-21, well beyond its term. Our exports are expected to grow at about 15 per cent in 2017-18".


  • Celine Dion returning to NZ for first time in 20 years

    Celine Dion returning to NZ for first time in 20 years

    The August dates will be New Zealand's first chance to see her in two decades. On Friday morning, Celine proved her enthusiasm for her return in a video.

    Crazy Volume Spikes for: Facebook, Inc. (FB)

    The company reported the earnings of $2.21/Share in the last quarter where the estimated EPS by analysts was $1.95/share. Private Tru Company Na reported 0.77% of its portfolio in Facebook , Inc. $7.14M worth of Facebook , Inc. (NASDAQ:FB).
    Breast Most cancers Remedies Could Enhance Coronary heart Illness

    Breast Most cancers Remedies Could Enhance Coronary heart Illness

    Scientists have developed an interactive online tool to help breast cancer patients better understand their treatment options. This week, the AHA published a scientific statement detailing the cardiovascular risks that can come with cancer treatment .
  • Devon Energy Corporation (DVN) Consensus Earnings Forecasts

    Among 6 analysts covering Monmouth Real Estate Investment Corporation ( NYSE:MNR ), 5 have Buy rating , 0 Sell and 1 Hold. Also, Devon Energy Corporation (DVN ) needs to overturn a -7.29% decrease it experienced over the past twelve months.
    Bollywood actors are posing with pads to challenge taboos about menstruation

    Bollywood actors are posing with pads to challenge taboos about menstruation

    Aamir is working with Amitabh Bachchan in "Thugs Of Hindostan" which is probably when the two superstars grew close to each other. Earlier this day, Aamir Khan had nominated Amitabh Bachchan, Shah Rukh Khan and Salman Khan to take up the challenge.

    WASHINGTON TRUST Co Lowers Holdings in AbbVie Inc (NYSE:ABBV)

    Following the sale, the senior vice president now directly owns 113,118 shares of the company's stock, valued at $11,136,467.10. Capital Research Global Investors increased its holdings in AbbVie by 1.2% in the 2nd quarter. (NYSE: ABBV ) or 29,583 shares.
  • Mastercard (MA) Price Target Increased to $193.00 by Analysts at Loop Capital

    The stock of Mastercard Incorporated (NYSE:MA) has "Buy" rating given on Thursday, July 27 by Piper Jaffray. Following the sale, the insider now owns 47,901 shares of the company's stock, valued at $7,271,850.81.
    Sony Corp CEO Kazuo Hirai Is Stepping Down

    Sony Corp CEO Kazuo Hirai Is Stepping Down

    The news comes from a Sony press release (via Variety ), in which Hirai cites burnout from his six years of travel as company CEO. Current CFO Kenichiro Yoshida has been announced as his replacement, with the managerial transition taking place in April.
    Blake Griffin double-doubles in his first game as a Piston

    Blake Griffin double-doubles in his first game as a Piston

    Also, some fans at Little Caesars Arena got these "Welcome to Detroit " shirts to celebrate Griffin's first game. Drummond had 14 points and 15 rebounds but sat out some of the crucial possessions late.
  • Motorola to buy Canadian security camera maker Avigilon for $1.2 billion cash

    Motorola to buy Canadian security camera maker Avigilon for $1.2 billion cash

    It turned negative, as 28 investors sold AER shares while 107 reduced holdings. 34 funds opened positions while 73 raised stakes. Horizon Kinetics Llc increased Pimco Dynmic Credit And Mrt (PCI) stake by 16,334 shares to 148,246 valued at $3.42M in 2017Q3.
    CAS relief for 28 Russian athletes

    CAS relief for 28 Russian athletes

    The 11 whose appeals were rejected came from men's bobsled, women's cross-country skiing and women's ice hockey. The United States Anti-Doping Agency issued a statement Thursday criticizing the IOC.
    Cleveland Cavaliers Happy To End January With A Win

    Cleveland Cavaliers Happy To End January With A Win

    Winners in six of their last seven games, the Houston Rockets have rediscovered their offensive form after a brief lull. The Cleveland Cavaliers are allowing 37.2 percent shooting from deep and are grabbing 41.7 rebounds per game.