Balancing Fiscal Prudence and Growth Impetus Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Tax buoyancy has improved, while taxation has been simplified and ease of paying taxes enhanced. With a keen eye on resilience, the…
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Essential business priorities in a changing world
Navigating the Global Economic Landscape Following the multiple exigencies of the recent past, the global economy appears to have stabilised this year, albeit with geopolitical risks remaining on the horizon. The G-20 economies displayed different growth rates in the first quarter of the year, with some growing more rapidly than…
A new partnership with Middle Earth
As many as 28 nations bordering the Mediterranean Sea were recently represented in a new partnership between India and the region. Businesses from both sides explored potential cooperation in defence production, maritime and manufacturing, among others. Historic Trade Synergies Between India and the Mediterranean Ancient synergies have marked the traditional…
Smart industrial cities can propel India towards its export targets
India’s recent policy decision to create 12 smart industrial cities under the National Industrial Corridor Development Programme (NICDP) looks set to transform Indian manufacturing and create significant employment. The policy will play a significant part in promoting India’s export capabilities and also help boost the country’s share in global value…
A strategy for securing critical minerals
Advanced materials, critical minerals and metals are revolutionising nations’ progress as they are widely employed in both industrial and strategic sectors. From renewable energy to electronics and healthcare, these materials are essential for innovation and play a crucial role in addressing key socio-economic challenges, such as climate change and improved…
A holistic budget with measures for inclusive economic growth
The Union Budget 2024-25 presents comprehensive, outcome-based and sector-specific measures that will accelerate India’s growth trajectory in an inclusive and sustainable manner. Moreover, this has been done with attention to macroeconomic stability and fiscal prudence, adhering to a path of fiscal consolidation, with the fiscal deficit pegged at 4.9% for…
Budget 2024: The government’s focus is on ease of paying taxes
While providing primacy to growth with inclusion, the Budget tempts to infuse a new momentum to the economy and strengthen India’s resilient ecosystem so that the country emerges as a growth engine of the world. An overarching theme An important focus of the Budget is simplification and rationalisation of the…
Budget 2024: Right recipe prepared for jobs with proposals to facilitate employment, skilling of youth
The Economic Survey 2023-24 estimates that India needs to generate about 78.5 lakh non-farm jobs annually until 2030 to gainfully employ the Indian youth entering the workforce. With proposals to facilitate employment, skilling and other opportunities for 4.1 crore youth over the next five years, the Union Budget 2024-25 will…
An inclusive Budget with its focus on growth, jobs
The Union Budget 2024-25 exemplifies the unwavering dedication of the finance minister to provide a medium-term vision and an all-encompassing blueprint for a prosperous, environmentally sustainable and technologically advanced India. With an objective of having the nation proceed on the “Amrit Kaal” journey with gusto and join the league of…
Trade, tech & sustainability: Engines for long-term growth
Finance and Corporate Affairs Minister Nirmala Sitharaman is poised to set a historical precedent. When she presents the complete Union Budget for 2024-25 on July 23, she will become the first finance minister to present seven consecutive budgets. The Interim Budget of February underscored the government’s commitment towards realising the…