Higher allocations for the Indian Railways and the proposal for greater involvement of the private sector, including by asset monetisation, could change the face of the transportation sector in India, reduce the cost of doing business and, thus, improve the competitiveness of Indian products in the domestic and global markets.
Finance Minister Nirmala Sitharaman has rejigged customs duty rates and indicated a further overhaul by October in a bid to boost its manufacturing sector. These follow the PKI scheme and the cut in corporate tax rates that are also designed to help position India as the world’s next factory.
The Modi government has invested considerable diplomatic and strategic capital in cultivating ties with several groups of stakeholders in Myanmar. It needs its support to develop its North East and rein in insurgent groups. Welcome to new age Indian diplomacy.
Jelle Klein Teeselink GM, HoST, Bioenergy Systems details out the Dutch company’s ambitions, while supporting India-based BoxLNG to roll out 14 bio-compressed biogas (bio-CBG) projects of renewable vehicle fuel between India's Uttar Pradesh and Maharashtra.
For the first time since 1991, analysts are praising the intent of the Budget rather than its fine print. By clearly outlining a reforms roadmap and eschewing populist measures, the Modi government may have set the stage for double-digit growth in the next 3-4 years. That is why the bulls are running riot over the Indian stock markets.
The $40 billion allocated for providing water connections across the country will not only better health and hygiene standards and improve the ease of living for citizens, but it will also create huge demand for products such as steel, cement, sanitaryware and labour and help generate millions of jobs and provide a further fillip to India’s fast recovering growth engine.
Don’t look at the headline defence allocation numbers. The most important segment of the defence budget, the outlay for capital expenditure, has been increased 18.7 per cent to enable the armed forces acquire the latest weaponry it needs to tackle a possible two-front threat against China and Pakistan.
The Indian Finance Minister has balanced the need for fiscal prudence with the imperatives of pushing consumption and demand with a renewed focus on spending big on infrastructure and healthcare – without unduly burdening the economy with new taxes.
To facilitate this infrastructure building spree, the Finance Minister announced a $2.75-billion outlay to capitalise a new development finance institution (DFI). That would build up a lending portfolio of about $70 billion within the next three years.
Disinvestment targets seem to be more realistic while a certain amount of scrutiny needs to be paid to inflation and the only way out is speedy growth for the country.