The 2013-14 Budget will be presented when the Indian economy is going through one of its most difficult phase. The 2012-13 Budget had forecast a growth rate of 7.6% and an inflation rate of 6.5%. In the first half of 2012-13, the economy grew by around 5.3% & likely to be almost same in the [...]

With India’s GDP growth rate having regressed to its 10 year low, the upcoming Union budget would be excessively important in salvaging the situation. The 25 bps Repo rate cut in Jan-13 has set the tone for encouraging capital formation and investments. However, the moderation in the government borrowing is necessary for the commercial sector to raise the needful resources at viable cost.

I believe the key to 2013-14 budget will be to rein in fiscal deficit, control expenditure (slashing subsidies etc), show buoyancy in tax revenues (without raising rates) and yet present a people and investment friendly budget. Many of these issues will conflict each other and the trick for the FM would be to balance all of these.

World’s lowest paid workers: Indian cleaners get just £64 after 40 YEARS of scrubbing toilets without a day off (and they’ve never had a pay rise!) For more than 40 years they’ve toiled away, meticulously scrubbing and cleaning toilets in southern India However, astonishingly, two dedicated cleaners in India have only £64 EACH to show [...]

After passing of 51% FDI in multi- brand retail in Lok Sabha, many big foreign players in retail sector have got the entry to extend their business operations in one of the world’s largest consumption driven economy.

The Lokpal and Lokayuktas Bill, 2011 was passed by the Lok Sabha on 27th December, 2011. The Bill was taken up for discussion and passing in the Rajya Sabha on 29.12.2011. Discussions remained inconclusive. Thereafter, the Rajya Sabha adopted a motion on 21.05.2012 to refer the Bill to a Select Committee of the Rajya Sabha for examination and report.

Though the Indian economy has witnessed tremendous growth lately, vast sections of our society have remained excluded from the India growth story due to various socio-economic factors. It is ironic that despite our cities seeing widespread affluence, large pockets of financial exclusion should exist right at the very heart of these cities.

 This year a record 37 officials of the Customs & Central Excise and Enforcement Directorate have been selected for grant of Presidential Award of Appreciation Certificate for ‘Specially distinguished record of service’. Every year, the officers from these departments are considered for grant of Presidential Award of Appreciation Certificate for ‘exceptionally meritorious service rendered at [...]

The Government has proposed to provide a link between the Gold ETF (Exchange Traded Fund) and the Gold Deposit Scheme. The objective is to unfreeze or release a part of the gold physically held by mutual funds under Gold ETFs and enable them to deposit the gold with banks under the Gold Deposit Scheme.

Details Regarding Revision in Passenger Fares W.E.F. 22.01.2013 The Ministry of Railways has now issued circular giving details of its decision to revise Passenger Fares w.e.f. 22.01.2013. Details of the fare revision are as under:- 1.      Minimum Fare: The Minimum fare chargeable will be Rs. 5. 2.      Development Charge: On the revised basic fares which [...]