Market had expected, considering the elections, that the government might overshoot the fiscal deficit by 20-30 bps. However the government net borrowing of Rs 4.73 lakh crore in 2019/20 and gross market borrowing of Rs 7.1 lakh crore INR were higher than expected. Debt market reacted slightly negatively with yields spiking by 8-10 bps on 10 year G-Sec. The cumulative effect of the cash transfer to the farmers and the middle income class will be a boost to consumption, but at the likely cost of crowding out private investments. … [Read more...] about Budget 2019: An Election Agenda?
2019 movies
Budget 2019: Centre brought Rs 1.3 lakh crore under tax net after demonetisation
During this period, Goyal said that benami assets worth Rs 6,900 crore and foreign assets worth Rs 1,600 crore have been attached. He also added that as many as 3,38,000 shell companies have been detected and de-registered, and their directors disqualified. … [Read more...] about Budget 2019: Centre brought Rs 1.3 lakh crore under tax net after demonetisation
Budget 2019: LED bulbs led to savings of Rs 50,000 crore in annual electricity bills
Lighting itself accounts for about 20 percent of the total electricity consumption in India. Prime Minister Narendra Modi in January 2015 had launched the Unnat Jyoti by Affordable LEDs for All (UJALA) to provide LED bulbs to domestic consumers, with a target to replace 770 million incandescent bulbs with LED bulbs by March, 2019. … [Read more...] about Budget 2019: LED bulbs led to savings of Rs 50,000 crore in annual electricity bills
Budget 2019: Centre sets record Rs 1.58 lakh crore capex for Indian Railways
Piyush Goyal, the interim finance minister who introduced the Union Budget 2019, has increased the overall capital expenditure programme of Indian Railways to a record 1,58,658 crore for FY20. Indian Railways capex programme stood at Rs 1.48 lakh crore previous year. … [Read more...] about Budget 2019: Centre sets record Rs 1.58 lakh crore capex for Indian Railways
Budget 2019: Expect all banks to come out of PCA framework ‘soon,’ says Piyush Goyal
RBI said that BOI and BOM had been taken out of PCA because their net NPA is less than 6 percent in Q3. In the case of OBC, RBI had said that though the net NPA was 7.15 percent in Q3, the government has since infused sufficient capital and bank has brought the Net NPA to less than 6 percent. … [Read more...] about Budget 2019: Expect all banks to come out of PCA framework ‘soon,’ says Piyush Goyal
