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What not to expect from the Budget and monetary policy, says Madan Sabnavis

File photo
Two important policy measures that are round the corner are the Union Budget, to be followed by the monetary policy. The former will provide direction for the year from the point of view of the Government while the latter will give some indication of how the RBI will react, though the April policy will probably be more definite. So, what can individual households expect from these two entities?
From the perspective of a households, economic conditions presently are not favourable. Almost everyone working in the non-government sector has been confronted with job losses or salary cuts, and while some companies have reversed these cuts, others are still waiting. The entire series of policy announcements made during the âAtmanirbharâ programme, did raise hope for tax benefits, which did not quite come about. All those who were dependent on income from interest which came from deposits were served a double whammy, as interest rates crashed on both bank deposits, as well as small savings, in the face of rising inflation. Therefore, there are high expectations from the Budget, as well as the credit policy to be served a few days later.

Union-budget , Central-government , Covid-cess , Union-budget-and-monetary-policy , Tax-breaks-for-industry , தொழிற்சங்கம்-பட்ஜெட் , மைய-அரசு , தொழிற்சங்கம்-பட்ஜெட்-மற்றும்-பண-பாலிஸீ , வரி-இடைவெளிகள்-க்கு-தொழில் ,

Budget 2021: Nirmala Sitharaman's 'Stress Test' and Macroeconomic Challenges Ahead

Budget 2021: Nirmala Sitharaman's 'Stress Test' and Macroeconomic Challenges AheadÂ
Clarity and a plan relying on the actualisation (and not promise) of job-creation, along with higher wages for workers across sectors are the needs of the hour.
Union finance minister Nirmala Sitharaman. Photo: Twitter/@nsitharaman
Economy20/Jan/2021
With less than two weeks left for the Union Budget to be presented by finance minister Nirmala Sitharaman, the state of the Indian economy continues to be grim, even if a return to normalcy is around the corner.
Over the last year, the economy has battled three crises â a pandemic, an economic meltdown, and a deep erosion in social and public trust as articulated in a long-drawn-out protest by farmers against the new farm laws.

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budget 2021: Covid cess unlikely to move market: Sanjay Dutt, Quantum Securities

"A Covid cess, or tinkering with tax for super rich in Budget would be a mere blip in market. We will get over it."

India , Sanjay-dutt , Budget-2021 , Co-vid , Quantum-securities , Equities , Et-now , Covid-cess , இந்தியா , சஞ்சய்-தத் , இணை-வித்

Ease fiscal deficit, look at higher spend for future: Assocham President

New Assocham President Vineet Aggarwal has batted for fiscal expansion in the form of higher expenditure in the upcoming Budget.
“Fiscal relaxation is critical, and the focus should be on spending when the world comes out of this once-in-a-hundred-years kind of crisis," Aggarwal told Business Standard.
As spending on infrastructure has three times the desired impact, the government’s Rs 111 trillion National Infrastructure Pipeline should be accelerated, Aggarwal said.
The government should also focus on projects that promote multimodal logistics as currently about 60 per cent of freight is moved through roads and costs can be reduced by moving freight through rail and water, he said. Expenditure for infrastructure related ministries like the roads, highways, and rural development should also be increased, Aggarwal said.

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India may be considering a COVID cess on high income earners — aside from more levy on fuel

India may be considering a COVID cess on high income earners — aside from more levy on fuel
India may be considering a COVID cess on high income earners — aside from more levy on fuel
Rounak JainJan 11, 2021, 15:34 IST
Representational image.Pixabay
COVID cess to help increase revenue ahead of
Budget 2021. A call on the new cess or surcharge is likely to be taken in the coming weeks.
According to an ET report, preliminary talks on revenue-raising measures include a cess on high income earners, as well as additional levy on fuel.
States have been facing pressure in revenues because of economic slowdown and corporate tax cuts, which means that the government is stretched to meet its spending needs.

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Budget 2021: Govt may introduce Covid cess to fund pandemic-related spending

Updated Jan 11, 2021 | 11:34 IST
The Centre has held some preliminary talks on revenue-raising measures but a final decision on whether to impose a new levy in the form of a cess or surcharge will be taken closer to the Union Budget.
Representational image
New Delhi: The government is mulling a new cess to fund additional spending due to the pandemic, including that on vaccines, the
Economic Times mentioned in a report citing sources.
The Centre has held some preliminary talks on revenue-raising measures but a final decision on whether to impose a new levy in the form of a cess or surcharge will be taken closer to the Union Budget, which is scheduled to be announced on February 1.

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Budget 2021 | Centre In Talks To Impose COVID-19 Cess: Report

Budget 2021 | Centre in talks to impose COVID-19 cess: Report
The preliminary talks revolved around a small cess on taxpayers who fall under the high-income bracket and some indirect taxes.
January 11, 2021 / 09:16 AM IST
An person receives a COVID-19 vaccine at a medical center in Jerusalem, on December 21, 2020. (Image: AP Photo/Mahmoud Illean)
To make up for the additional expenses incurred due to the coronavirus pandemic, the government is planning to impose a COVID-19 cess. The discussion regarding the same is underway and a final decision on whether the tax will be in the form of a cess or surcharge will be taken closer to the Budget announcement.

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Budget 2021: Centre may introduce new 'Covid-19' cess. All you need to know

The central government has held preliminary discussions to introduce a Covid-19 cess or surcharge to offset additional expenses it will incur this year towards mass vaccination and reviving growth. Here is all you need to know

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Yogi's push for 'Good Times' in UP, beer to get cheaper as excise duty slashed

Yogi's push for 'Good Times' in UP, beer to get cheaper as excise duty slashed
The policy increased the existing cap for storage at home from 6 litres to 16 litres for the purchase of a special annual licence fee of Rs 12,000 and a security deposit of Rs 51,000, respectively.
Coronavirus Infection Symptoms
In major step towards mopping up revenues through liquor sales in the Covid times, the Uttar Pradesh government has slashed excise duty on beer from the coming financial year. The duty which currently stands at 280% will be cut to 200% from FY2021-22. Moreover, the UP government has also decided not to increase the license fees for beer vends in its latest excise policy.

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