INSUBCONTINENT EXCLUSIVE:
on the general Budget on July 8 while voting on Demands for Grants will be between July 11 and 17 as the Narendra Modi government presents
the first Budget of the second term on July 5."The tentative dates for discussion and voting on demands-for-grants for 2019-20 are expected
The general discussion on Budget is tentatively scheduled on July 8," a communication from the Finance Ministry's Budget division
said.Finance Minister Nirmala Sitharaman faces an uphill task
She has to rescue Asia's third-largest economy from the brink of a major slowdown
In May, India lost its spot as the fastest-growing major economy in the world though government said it still is the fastest growing.India's
GDP slipped to a 5.8 per cent growth in the last quarter of FY19, down from 6.6 per cent in the previous quarter, and lower than the 6.4
per cent growth registered by China
The consumption demand and investment cycles are the lowest pressing for higher government spending in a year when revenues are on the
Job creation is missing with unemployment at the highest 6.1 per cent.Ms Sitharaman also has to meet a tough disinvestment target in a
slowing economy and tough market to expand the government kitty in a year when tax revenue are almost certain to be lower
The government is looking to garner Rs 90,000 crore from disinvestment, up from Rs 85,000 crore it got last year
The bulk of last year's earnings, however, came from the central public sector enterprise (CPSE) exchange-traded fund (ETF), a pool of PSU
shares, as against the government's desire to sell strategic stake in government-owned companies.This fiscal year government will milk the
current ETFs and launch new ETFs like financial sector ETF and debt ETF
So far the government raised Rs 2,350 crore in the first two months of the current fiscal year
To kickstart the disinvestment process, Niti Aayog, a think-tank of the government, has suggested 35 PSEs where the government is likely to
Recently, government said Air India will be attempted to be sold
Last year too, the government had tried to sell Air India, but it didn't find any takers.Both direct and indirect tax revenues are also not
matching the huge agricultural package the government is giving like the recent Rs 87,000 crore expense, up from Rs 75,000 crore for the
Direct Income Scheme for the poor and marginal land farmers
With a slowdown gripping the economy, the non-tax revenues like CPSE profits and dividends are also not on higher trajectory.Besides laying
the roadmap, the Finance Minister's challenge will be a tightrope walk between containing the fiscal slippage and handling growth slowdown
The latter, due to slowdown in consumption, exports and gross domestic capital formation, calls for an economic stimulus package which is at
odds with the objective of fiscal consolidation.Fiscal deficit at 3.4 per cent will be difficult to maintain, but credit rating agencies
warn of downgrade for India should it fall, making raising capital for Indian companies costly
It will also raise the interest costs of the government while FIIs will shy away.Get Breaking news, live coverage, and Latest News from
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