Finance Minister Nirmala Sitharaman on Friday spent almost half her speech in making a point by point rebuttal to Congress leader and former Finance Minister P Chidambaram, who raised doubts over government's vision of making India a $5 trillion economy in five years.
Amid a debate over variance in numbers in the Economic Survey and the Budget, Finance Minister Nirmala Sitharaman said both the documents present consistent picture and her budget numbers are authentic and projections based on realistic estimates.
The Union Budget has "unnecessarily defensive strokes, dropped catches and quite a few no balls", Congress leader Shashi Tharoor said in Lok Sabha on Monday, as he slammed the alleged failure to address key issues facing the economy.
Amid a chorus over lack of employment opportunities, the Central government said it has generated over 3.81 lakh jobs between the last two years in its different organisations, according to Budget 2019-20 documents.
The Union Budget compliments the expectation of steel industry and other related industries. SAIL is completely geared up to cater to every requirement of governments roadmap to reform, perform and transform India.
Coming down heavily on the Union Budget 2019, West Bengal Chief Minister Mamata Banerjee on Friday said it was "completely visionless" and would result in price hikes.
India’s decision to slightly lower its fiscal deficit target for 2019/20 is a step in the right direction but will be challenging to achieve, a Moody’s analyst said on Friday after the government announced its budget.
The Budget 2019-20 included measures aimed at improving the investment climate but lacked any direct steps to stimulate a sagging economy, adding to pressure on the Reserve Bank of India (RBI) to provide more immediate help.
The Congress on Friday dubbed the first Union Budget of the Modi 2.0 government as "insipid and opaque", saying it had not revealed any financial data or allocations, had no relief for various sections of people, or mentioned measures to help farmers.
FM Sitharaman hopes the cycle of investments will kick-start the economy, points out that measures taken will address the NBFC crisis, talks about opening up of sectors like aviation, insurance intermediaries for FDI, and infrastructure spending.
Finance Minister Nirmala Sitharaman Friday gave a clear indication that the Modi 2.0 government would go ahead with labour reforms to improve the ease of doing business by standardising and streamlining multiple labour laws into a set of four labour codes.
Finance Secretary Subhash Chandra Garg Friday said the government expects Rs 90,000 crore as dividend from the RBI in the current fiscal.
Prime Minister Narenda Modi Friday pitched for higher investment in the rural economy, saying it will increase new employment opportunities in villages. He also said water conservation is not possible without public participation.