India’s States See 10-Fold Jump In Grants ToRs 259,000 Crore On Modi Devolution Promise

    The Bharatiya Janata Party (BJP) had promised in its 2014 Election Manifesto that it would work on a model wherein development would be “driven by the states”.   Though the BJP-led National Democratic Alliance (NDA) Government is being criticised for not making any big breakthroughs in their first Union Budget presented earlier this … Continued

To Bhutan With Love: Rs. 6074 Cr

  Source: Budget 2014

Budget 2014 Fact Check: Rs 4 Lakh Crore Tax Claims Stuck

Finance Minister Arun Jaitley, while presenting the first union Budget of the Bharatiya Janata Party-led National Democratic Alliance (NDA) Government, said over Rs 4 lakh crore of tax money is stuck in litigations and before the courts.   Jaitley said: “Tax demand of more than Rs 4 lakh crore is under dispute and litigation before … Continued

Union Budget 2014: Dope On Who Gets How Much

The Finance Ministry, Ministry of Defence and the Ministry of Consumer Affairs, Food and Public Distribution get the highest share of the union budget allocations this year. In the Ministry of Finance allocated Rs 427011.38 crore towards interest payments, which was a 12% increase over last year. And 23778.00 crore towards pensions, an increase of … Continued

Jaitley’s Big Bet on Disinvestment

Finance Minister Arun Jaitley has placed a huge bet on the appetite for shares of public sector undertakings (PSUs) among investors while presenting the Union Budget for 2014-15. Mr Jaitley expects to raise Rs 63,245 crore from disinvestment in the current financial year as against the revised estimates of Rs 25,841 crore in 2013-14 – … Continued

I didn’t have enough money to do more for the common taxpayer: Arun Jaitley

  The primary objective of his government is to “rescue” the economy from concerns stemming from indecision, delays in project clearances and an unfriendly tax regime, Finance Minister Arun Jaitley tells T N Ninan in an interview on Doordarshan after presenting his maiden Union Budget. Edited excerpts:   It is a difficult year but the … Continued

Govt Announces Rs 100 Cr For Child Welfare But Centre Spend Slumps 96%

  Amidst one of the longest Budget speeches (16,536 words), Finance Minister Arun Jaitley allocated Rs100 crore for a new programme: Beti Bachao, Beti Padhao Yojana. Let us look at some basic numbers first:   Source: Census 2011 The child sex ratio (number of girls per 1,000 boys) has declined from 927 in 2001 to … Continued

Budget 2014: No Change In Tax Rates, Income Tax Limit Hiked To Rs 2.5 lakh; Full Speech

Finance Minister Arun Jaitley presented the first Union Budget of the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) by not hiking tax rates and increasing the income tax limit to Rs 2.5 lakh.   The Finance Minister has promised to meet the fiscal deficit target of 4.1% set by the interim budget, and has … Continued

India’s 50-Year-Old Agri Challenge, Low Foodgrain Per Capita: Budget 2014 Primer

  With 56.6% of working population engaged in agriculture and allied activities (Census2011), agriculture is an important component for the Government to focus on in the Budget.   Also, despite more than half of the country’s dependence on the sector for livelihood, it represents  only about 14% to the GDP.   However, here is some … Continued

Make Rs 3.78 Lakh Income Totally Tax-Free: Survey

The “middle class” feels that the Government must make annual income of Rs 3.78 lakh totally tax-free since Rs 31,500 is needed for an average quality of life for a family of four people.   This was one of the key findings of a nationwide, pre-budget survey done by C-Voter. Finance Minister Arun Jaitley will … Continued