FARM SECTOR REFORMS BILLS
Budget 2024: What does the stock market expect from the coalition government Budget?
India's real consumption is expected to reach Rs 70 trillion by 2025, driven by demographics and rising incomes. By 2030, consumer spending may hit $4 trillion. Agriculture sees 6% growth, with budget support. Manufacturing and infrastructure expand through policies. The 2024 budget, at Rs 47.66 trillion, allocates 3.3% of GDP to infrastructure, smart cities, highways, and logistics parks.
Budget 2024: Govt may tweak laws to push banking sector reforms in Budget session
The govt plans to introduce amendments to various banking laws during the Budget session to facilitate banking sector reforms, including privatisation of public sector banks. These amendments aim to decrease government holding in state-owned banks, enhance governance, and protect investors. The upcoming session, starting on July 22, will address these crucial changes.
Budget 2024: Agriculture players want Sitharaman to focus on climate-smart options & solar-based irrigation
The agriculture sector is urging the upcoming budget to prioritize climate-smart agriculture, including innovations like solar-powered irrigation and rainwater harvesting. It seeks expanded storage capacities and improved transportation networks to reduce wastage and boost farmers' incomes. Increased investment in rural infrastructure, collaboration between the government and private sector, and emphasis on sustainability and urban farming are also highlighted.
Italian PM Giorgia Meloni pays homage to Indian farm worker Satnam Singh in parliamentary address
Italian Prime Minister Giorgia Meloni recently honoured Satnam Singh, an Indian farm worker who tragically passed away after his employer abandoned him on the roadside following a severe injury. "These are inhumane acts that do not belong to the Italian people. I hope that this barbarity will be punished harshly," said Meloni.
What Indian industry wants from Modi's budget after poll setback
The upcoming budget aims to boost consumption, support farmers, create jobs, and reform tax systems. It focuses on tax cuts, lifting export restrictions, job creation incentives, and simplifying tax regimes like capital gains and GST for a stronger economic outlook.
Budget expectation of farm sector: Spotlight on agri research, fertiliser subsidy, climate fight in meeting with FM
Budget 2024 expectations: Experts at the meeting advocated for the consolidation of all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and proposed a hike in the retail price of urea, unchanged since 2018. They also emphasized promoting bio-fertilisers and foliar fertilisers through subsidies.
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Waiver, other tax reforms top GST Council's docket
The GST Council is set to discuss various measures at its upcoming meeting on June 22 to pave the way for broader tax reforms in the new government's first full budget. These measures include considering a conditional waiver of interest or penalty on tax notices issued between 2017 and 2020, with exceptions for wilful defaulters. The budget announcement is expected in July.
ETMarkets Smart Talk: FMCG & IT stocks provide valuation comfort compared to historical valuations: Vipul Bhowar
Populist policies will likely take precedence to secure victory in a coalition setup. Key cabinet portfolios, particularly those related to finance, defence, and infrastructure, will be closely monitored.
No monthly minimum charges for domestic power consumers: Haryana CM
Haryana Chief Minister Nayab Singh Saini announced the abolition of monthly minimum charges for domestic power consumers, stating that electricity bills will now be based solely on the number of units consumed. This move aims to provide relief to electricity consumers in the state. Saini launched the "Pradhan Mantri Surya Ghar Muft Bijli Yojana" in Ambala, which offers subsidies for setting up rooftop solar plants.
100-Day action plan: DPIIT looking to start up funding & spur manufacturing push
The Department for Promotion of Industry and Internal Trade (DPIIT) in India is planning to focus on easing early-stage funding for startups, reducing compliance burdens, and reducing logistics costs as part of its 100-day action plan. The plan includes a policy for deep-tech startups, reforms for ease of doing business, and a public-private partnership model of governance.
Arunachal CM Pema Khandu to launch new industrial policy and reforms to boost investment and development
Arunachal Pradesh Chief Minister Pema Khandu announced the introduction of a new Arunachal Industrial Policy, aligned with the UNNATI Scheme, to attract investments. After being sworn in, Khandu convened a Cabinet meeting to launch Reforms 3.0, focusing on 24 citizen-centric initiatives. Priorities include 100% digitalization of Finance and Planning Departments, strengthening local administration, and forming the Institute for Transforming Arunachal. Plans also include a new educational policy, revamped Dulari Kanya Scheme, enhanced agricultural policies, and the development of Itanagar-Naharlagun. Additionally, new handloom, handicrafts, and tourism policies will be introduced to boost the economy.
ETMarkets Smart Talk: Modi 3.0 unlikely to be over-populist at the cost of compromising fiscal discipline: Amar Ambani
In my opinion, the election event is done and dusted, and the market won’t read too much into it, to endure drastic corrections akin to the knee jerk reactions seen on poll outcome day.
Budget likely to stick to fiscal road map: UBS
UBS predicts that the new government will follow a medium fiscal consolidation path but with a populist tilt in its first budget after the elections. The RBI's higher-than-expected dividend transfer to the government provides fiscal leeway for populist spending, especially to support lower-income groups. The government is expected to target a fiscal deficit of 5.1% of GDP in FY25, aiming to reduce it further to below 4.5% of GDP by FY26. While tougher reforms may be challenging, supply-side reforms like manufacturing, labour laws, and skill development are likely to continue.
Modi's 'lower political capital' to hit implementation of tough reforms, says UBS
A Swiss brokerage stated that Prime Minister Narendra Modi's 'lower political capital' may hinder the new government's ability to implement tough reforms, potentially limiting the growth rate to around 7.5%. UBS Securities highlighted the importance of reforms related to land, farming, divestments, Uniform Civil Code, and one nation one election to boost growth to over 7.5% in the next five years.
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
Lok Sabha Results: Will a fractured mandate for NDA impede new govt's infra and capex push?
The 2024 Lok Sabha elections deliver a fractured mandate, influencing economic reform outlook. Experts recommend focusing on public capex and high-tech sectors for growth. Tanvee Gupta Jain predicts fiscal leeway for populist spending, supported by progress in implementing labor laws.
Modi retaining power under changed circumstances to make reforms challenging: Economists
Economists warn that PM Narendra Modi's retention in power after the general elections under 'changed circumstances' will pose challenges for implementing critical reforms.
Hold your horses! Wait for real results before making big moves: Swaminathan Aiyar
In Modi 1, he, for instance tried to take on land acquisition. He retreated. Again, in Modi 2, one of the things that he retreated on perhaps was whether we have a national register of citizens, which the Muslim community is extremely afraid of, that is a non-economic subject. But I mean, these were some of the areas Mr Modi has shown that he is capable of retreating when he comes across a very serious resistance.
Nifty bulls scream 'Abki baar 24,000 paar' after exit polls predict Modi 3.0
Exit polls indicate a potential hat-trick win for PM Narendra Modi in Lok Sabha, boosting Nifty's rally hopes to cross 24,000. Market analysts foresee a surge if BJP secures victory on June 4.
What should investors do with RIL and ITC? Amnish Aggarwal answers
Elections is a very important event and we are now just I think three trading days away from it. We had issued a note to our clients in which we had identified a few sectors and the scripts which would be doing well irrespective of the outcome of elections.
If Modi wins India's mammoth Lok Sabha elections, his third regime will need tough reforms to lure foreign firms
Lok Sabha Elections: As Modi gears up for a potential third term, global firms highlight challenges facing India's economy: policy inconsistencies, bureaucratic delays, and scarcity of land. Despite improved business sentiment, actual investment remains stagnant, with foreign direct investment dropping. Key priorities for the new government include policy coordination among states, labor law implementation, skills development, land reform, trade measures, and fulfilling BJP's promises for economic growth and global manufacturing hub status.
Is India suffering from an unemployment issue? PM Modi says the country is generating jobs
Prime Minister Narendra Modi defended his government's job creation efforts, citing a significant increase in taxpayers and EPFO subscribers, and growth in the startup sector. Modi emphasised his vision of a 'Viksit Bharat,' where every Indian can dream big. He highlighted achievements in manufacturing, research, and self-reliance. He pledges to focus on infrastructure and development if re-elected for a third term.
Cut aid for livestock farms to help climate fight, World Bank says
Ensuring that environmental and health costs are fully priced into emissions-intensive foods made from animals would curb consumer demand for those products.
Markets & Mandate: Where to invest in E-M-I basket going forward
Nilesh Shah predicts ABB, Siemens, L&T's continued dominance in EMI. Key players like Hitachi Energy, KSB, and TD Power drive sector growth. India aims for a $10 trillion economy, focusing on diverse sectors.
Caught in a maize: In India’s ethanol blending ambitions, eggs are an unlikely casualty
The government wants to use maize to cut its fuel import bill. While this has strategic advantages, it puts a question over egg production — a source of nutrition for many Indians.
Shift of labour to non-farm jobs: Why it's high time to reform India's job-creation laws
India aims to reduce agriculture's 'self-exploitation' through non-farm jobs. This requires addressing problems with job laws, promoting direct benefit transfer, improving infrastructure and human capital, and reforming social security and labor codes.
Central govt doing injustice to farmers, claims Jairam Ramesh
Congress leader Jairam Ramesh criticizes PM Modi over farmers' protest, accuses govt of injustice. Questions delay in implementing Swaminathan Commission report and MSP recommendations. Rahul Gandhi's opposition to electoral bonds scheme is highlighted.
Can India adopt a G20-style inclusive model for economic reforms?
By imbibing the successful features of G20, we have an opportunity to democratise the way policies are identified, debated, adopted and implemented in India. In doing so, instead of clearing the road blocks, Modi can put the economy on an expressway to a 'Developed India' destination by 2047.
What are the new 2024 Property laws and how will they impact you? All you need to know
In 2024, new property laws can come into existence. King Charles III gave the first King’s speech in more than 70 years, where he introduced 20 bills and one draft bill. He introduced two new bills, the Renters (Reform) Bill and the Leasehold and Freehold Bill.
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