Edelman India Analysis
Standing in for Mr Arun Jaitley, Finance Minister (FM), Piyush Goyal presented the Union Budget of India earlier today. Highlighting achievements of various Government schemes, Mr Goyal stated that the Government led by Prime Minister Modi has been the most decisive and transformational in executing structural reforms.
Focused on rural and inclusive development over the next 5-10 years, the Budget included significant announcements ahead of the General Elections while also outlining ten dimensions of the Government’s Vision for India’s development by 2030. The launch of, “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN),” which aims to supplement rural income, captured the limelight of this year’s budget. The middle class has also benefited with higher gratuity, broadening of the tax-exempt bracket and waivers on income tax on notional rent. A mega pension scheme for workers in the unorganised sector was also announced along with health coverage under the ‘Ayushman Bharat’ scheme.
The Government has budgeted for overall expenditure of INR 27.8 trillion in 2019-20, an increase of 13% over the previous year’s estimates, while targeting a fiscal deficit of 3.4% in 2019-20 and 3% in 2020-21.
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
The Union Budget for 2018-19 was proposed by Mr. Arun Jaitley on 1st February 2018. The budget proposes significant initiatives for rural & agricultural development, generation of employment, skill development and upgrading infrastructure, but, provides little incentive to the taxpayers. Sharing with you the highlights of this year's Budget.
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
The Union Budget for 2018-19 was proposed by Mr. Arun Jaitley on 1st February 2018. The budget proposes significant initiatives for rural & agricultural development, generation of employment, skill development and upgrading infrastructure, but, provides little incentive to the taxpayers. Sharing with you the highlights of this year's Budget.
Edelman India Public Affairs team provides an analysis of the Union Budget 2018-19 tabled in Parliament on Feb 1 -- featuring opinions from eminent economists and industry experts.
Contributors include:
Mr. T.S. Vishwanath
Partner, APJ-SLG Law Offices and Senior Advisor, Edelman India
Mr. Nirankar Saxena
Deputy Secretary General, FICCI
Dr. Geethanjali Nataraj
Professor of Applied Economics, Indian Institute of Public Administration
Dr. Amir Ullah Khan
Development Sector Economist, Professor and Director at the Maulana Azad National Urdu University, Visiting faculty of Economic Policy at the Indian School of Business
Mr. Neeraj Bansal
Partner and Head – ASEAN Corridor and Building, Construction and Real Estate sector, KPMG in India
Mr. Ravi S. Kochak
Former Additional Member (Production Units), Indian Railways
The document gives highlights from key sectors – agriculture and rural development, banking, financial services and insurance, defence and aviation, e-commerce and retail, energy, FMCG, food & beverages, infrastructure and housing, manufacturing, railways, social welfare, steel and mining, and technology IT & telecom.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
This slide deck includes the highlights of the recent Union Budget of India for the financial year 2017-18 announced by Mr Arun Jaitley (Finance Minister) on 2nd Feb 2017.
A budget is a quantitative expression of a financial plan, we all know that but, not everyone understands the whole of Budget. For this reason alone, the budget views are presented in a PPT format for your reference.
A presentation by CA Manish Hingar
A Summary of Budget 2016!
Hon. Finance Minister Mr.Arun Jaitley presented a resilient India Budget 2016 which spells the ‘Transformative Agenda’ for the India Economy identifying nine key pillars for the GDP growth. Team RAMA has presented an overall overview of the Union Budget – 2016, summarised key policies changes and Direct & Indirect taxes proposals in brief for easy understanding and quick reference. Hope you will find it useful.
Warm regards & happy reading!
- Ram Agarwal & Associates.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Edelman India Public Affairs team provides an analysis of the Union Budget 2018-19 tabled in Parliament on Feb 1 -- featuring opinions from eminent economists and industry experts.
Contributors include:
Mr. T.S. Vishwanath
Partner, APJ-SLG Law Offices and Senior Advisor, Edelman India
Mr. Nirankar Saxena
Deputy Secretary General, FICCI
Dr. Geethanjali Nataraj
Professor of Applied Economics, Indian Institute of Public Administration
Dr. Amir Ullah Khan
Development Sector Economist, Professor and Director at the Maulana Azad National Urdu University, Visiting faculty of Economic Policy at the Indian School of Business
Mr. Neeraj Bansal
Partner and Head – ASEAN Corridor and Building, Construction and Real Estate sector, KPMG in India
Mr. Ravi S. Kochak
Former Additional Member (Production Units), Indian Railways
The document gives highlights from key sectors – agriculture and rural development, banking, financial services and insurance, defence and aviation, e-commerce and retail, energy, FMCG, food & beverages, infrastructure and housing, manufacturing, railways, social welfare, steel and mining, and technology IT & telecom.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
This slide deck includes the highlights of the recent Union Budget of India for the financial year 2017-18 announced by Mr Arun Jaitley (Finance Minister) on 2nd Feb 2017.
A budget is a quantitative expression of a financial plan, we all know that but, not everyone understands the whole of Budget. For this reason alone, the budget views are presented in a PPT format for your reference.
A presentation by CA Manish Hingar
A Summary of Budget 2016!
Hon. Finance Minister Mr.Arun Jaitley presented a resilient India Budget 2016 which spells the ‘Transformative Agenda’ for the India Economy identifying nine key pillars for the GDP growth. Team RAMA has presented an overall overview of the Union Budget – 2016, summarised key policies changes and Direct & Indirect taxes proposals in brief for easy understanding and quick reference. Hope you will find it useful.
Warm regards & happy reading!
- Ram Agarwal & Associates.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Comprehensive analysis of indian budget 16 17Pankaj Walia
Happy to present my view and key features of the Indian Budget for 2016-2017.
Overall, a balanced budget to support the needs of the stressed sectors while simultaneously weighing the impact of additional burden on account of the recommendations of the 7th Central Pay Commission and the implementation of Defence OROP.
This presentation is regarding the whole budget analysis of 2019 mentioning the important investments and expenditures of the government in coming years.
Thank You
Long on aspirations and short on action - A monograph on the Union Budget 201...D Murali ☆
Long on aspirations and short on action - A monograph on the Union Budget 2015-16 - B. Yerram Raju - Article published in Business Advisor, Budget 2015 special issue http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Union Budget 2017 - A Pitchfork Partners AnalysisAshraf Engineer
Finance Minister Arun Jaitley presented a Union Budget of many firsts today. Apart from integrating the Rail Budget into itself, the presentation was advanced to February 1 to enable better operationalisation. Also, plan and non-plan classifications were eliminated for a holistic view of allocations.
The Budget was presented in the wake of demonetisation and all eyes were on what the government would do next. The finance minister focused on rural development and agriculture, while laying emphasis on tax compliance, affordable housing and social investment as part of a 10-point agenda.
Here's an overview and analysis of the Budget.
First india ahmedabad edition-02 february 2021FIRST INDIA
Welcome to the Official Website of First India E-Paper. We are the best ENGLISH NEWS PAPER in India with Special coverage of Rajasthan & Gujrat. Follow us for the LATEST NEWS & Top LIVE NEWS in India and around the world.
Visit:- https://firstindia.co.in/newspaper
My presentation at the Global Foundation for Sustainable Transformation on the 7th February. This covers some aspects where the Government took treat while giving a treat to large numbers of population. This is the first stimulus budget of the Union Government to drive consumption to achieve growth. RBI on the 6th February 2021 unleashed a supportive monetary policy. In the medium term it may give rise to inflation. In the backdrop of pandemic that had hit the economy badly following a slow growth in 2018-19, inflation led growth may come in but taming it would be the job of the central bank.
India Economic Survey 2017 by Edelman IndiaAklanta Kalita
The Union Finance Minister Shri Arun Jaitley tabled the Economic Survey 2016-17 today, the first day of the Budget Session of the Parliament. The Economic Survey says that the adverse impact of demonetisation on GDP growth will be transitional and the economy will recover with remonetisation. The Survey states that once the cash supply is replenished, which is likely to be achieved by end of March 2017, the economy would revert to normal. The GDP growth in 2017-18, as per the survey, is projected to be in the range of 6¾-7½ percent.
The Survey suggests a few measures to maximise long-term benefits and minimise short-term costs. One, fast remonetisation and early elimination of withdrawal limits. This would reduce GDP growth deceleration and cash hoarding. Two, continued impetus to digitalisation while ensuring that this transition is gradual and inclusive, and appropriately balances the costs and benefits of cash versus digitalisation. Three, following up demonetisation by bringing land and real estate into the GST. Four, reducing tax rates and stamp duties.
Crisis Management: Practice and PrinciplesAklanta Kalita
“A crisis is an opportunity riding the dangerous wind” --A Chinese proverb
A graphical representation of practice and principles of issues and crisis management.
According to an assessment India has wind potential of 65,000 MW;
There are land areas with excellent wind project potential where wind speeds exceed 9.0 m/s at 80 meter hub height in some of the higher elevations;
Lower elevation areas also show promise with speeds at 100 m height ranging from 6.5 m/s - 8.0 m/s;
The significant resource coupled with continued government support makes India a very attractive location for wind development;
"A good traveler has no fixed plans, and is not intent on arriving.”
Lao Tzu
Don’t know whether we were good travelers, but seemed to be a little bit of it. We left home with the idea of exploring the enchanting land of Palampur, without knowing what plans the almighty had for us.
While negotiating with the Taxi operators in the Pathankot railway station, we ended up charting out a plan to first visit places in McLoad Ganj and Dharamshala (the land of Buddhist monks) and explore the vast green lands of Palampur on the way back. Though we maintained this travel plan till the end, the tit bits were changed many times in between with many omissions and additions. And at the end of the journey, when we were back to square one, there was consensus amongst us, it was a journey well made.
“I see my path, but I don't know where it leads. Not knowing where I'm going is what inspires me to travel it.” Rosalia de Castro
Travelling on the misty roads to Mcload Ganj, I realized the saying, ‘the journey, not the arrival that matters’. The suns playing ‘hide and seek’ among the trees in the foggy forests on both the sides of the road, touch of the ‘seemingly chilled but no not so cold’ fog on the face, rain drops lashing…it was a path to rejuvenation. Every moment I kept struggling to keep content my heart seeking to jump out and to vanish in the other side of the white vile of fog. The time was short and we had “milesto go before…”
On the way back, I made a promise to the misty land. “I’ll talk about you a lot. I’ll nourish you in the coziness of my heart. I’ll come back to you again.”
Africas Silkroute Indias New Economic FrontierAklanta Kalita
Much of the accumulated stock of Indian FDI in Africa is concentrated in extractive sectors, such as oil and mining
Greater diversification of FDI flows to Africa has in fact been occurring more recently
Recent Indian investments on the African continent have been made in apparel, food processing, retail ventures, fisheries, commercial real estate and transport construction, tourism, power plants, and telecommunications, among other sectors
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
1. Contact the PA practice:Edelman India Private Limited
@EdelmanIndiaPA
UNION
Budget2019 - 2020
Contact the PA practice:
Medha Girotra, Head - Delhi and Public Affairs Lead
Medha.Girotra@Edelman.com
Edelman India Private Limited
Vatika Triangle, 6th Floor, Sushant Lok-1, Block A
Gurugram, Haryana 122 002, India
@EdelmanIndiaPA
UNION
Budget2019 - 2020
Medha Girotra
Head - Delhi &
Public Affairs Lead
Amid thumping applause, Finance Minister Piyush Goyal presented the interim budget for 2019-20 in the Lok
Sabha today. As soon as the applause subsided, interesting quips started pouring in. While some said that it was an
“Account for Votes”, others called it the “Pradhan Mantri Re-election Yojana”.
All said and done, this budget was everything that an interim budget usually is – a populist precursor to the elections.
Following the same pattern, this year’s budget appealed to the segments that are key to the ruling BJP – farmers,
middle class, and small traders.
The key highlights of the budget included big ticket announcements for the farmers in the form of the PM-KISAN
programme; full tax rebate for individuals with taxable annual income up to INR 500,000; rise in standard deduction
for salaried people to INR 50,000 from INR 40,000, among others. Even the corporate sector found solace in the fact
that no additional taxes were imposed. For the first time, the budgetary allocation for defence crossed INR three
trillion. Surprisingly, this budget did not toe the expected line of loan waivers in the education sector as was widely
anticipated after the recent farm loan waivers.
Outlining the government’s vision for a ‘New India’ in 2030, the finance minister listed ten dimensions including ease of living, robust and digital
infrastructure, housing for all, healthy and clean environment, minimum government, maximum governance and making India a USD 10-trillion-econo-
my. These dimensions not only mark the government’s vision for the next ten years but also set the agenda for the BJP as far as the upcoming general
elections go.
Reacting positively to the budget, the BSE Sensex settled 0.59% higher at 36,469.43 points today while the Nifty 50 closed at 10,893.65 points signify-
ing a growth of 0.6%.
The budget speech had little information on how the government will fund these big-ticket programmes. Has it stepped into a financial landmine? Or
will the next general budget provide a clear roadmap for achieving this vision? The bigger question, however, is whether the voters will interpret this
interim budget positively as they gear up for the next general elections.
2. UNION BUDGET 2019-20 2
MAJOR
Highlights
AGRICULTURE
RURAL DEVELOPMENT
TAXATION
INDUSTRY
SOCIAL SECTOR
HEALTHCARE
INFRASTRUCTURE
`
• Pradhan Mantri KIsan Samman Nidhi (PM-KISAN)
to provide direct income support of INR 6000 per
year to each farmer with less than 2 hectares of
land. Scheme to benefit 120 million small and
marginal farmer families. Outlay of INR 750 billion
for PM-Kisan in 2019-20
• MSP of all 22 crops fixed at minimum 50% more
than the cost
• Separate Department of Fisheries
• Benefit of 2% interest subvention to farmers
pursuing animal husbandry and fisheries activities,
through Kisan Credit Card; to get an additional 3%
interest subvention for timely loan repayment
• Farmers affected by natural calamities to get 5%
interest subvention
• Income up to INR 500,000 - No tax
• Standard deduction raised to INR 50,000 from
INR 40,000
• TDS threshold on interest from bank deposits,
postal savings raised to INR 40,000 from INR 10,000
• TDS threshold on rental income raised to
INR 240,000 from INR 180,000
• Capital gains from residential property sale will be
eligible for exemption under Section 54 for 2
properties
• No income-tax on notional rent on second
self-occupied home
• Government e-Marketplace (GeM) platform now
being extended to all CPSEs
• Scheme for loans of upto INR 10 million in 59 minutes
launched for MSMEs
• GST-registered SME units to get 2% interest rebate
on incremental loan of INR 10 million
• SMEs sourcing by Government enterprises increased
to 25%; at least 3% from women owned SMEs
• National Programme on 'Artificial Intelligence' to be
launched; National Centre of AI to be established
along with a national AI portal
• 22nd AIIMS announced in Haryana; 14 out of 21
have been announced in last 4 years
• Ayushman Bharat Programme to provide medical
treatment to nearly 500 million people; close to 1
million patients have benefited with free treatment
till now, resulting in INR 30 billion savings
• Allocation of INR 190 billion under Pradhan Mantri
Gramin Sadak Yojana (PMGSY); construction of rural
roads tripled
• Allocation of INR 600 billion under MNREGA;
additional amount will be provided if required
• Setting up of "Rashtriya Kamdhenu Aayog";
allocation for Rashtriya Gokul Mission to INR 7.5 Billion
• Allocation of INR 1.3 trillion for SC and ST
welfare
• 100,000 digital villages to be set up over next five
years
• Capital support of INR 645.87 billion to Railways
• 100 operational airports with commissioning of the
Pakyong airport in Sikkim
• Fastest highway developer globally – 27 km of
highways built everyday
• North East allocation up 21% to INR 581.16 million
• Mobile monthly data increased by over 50 times in last
5 years; mobile & mobile component manufacturing
companies increased from 2 to 268
• Mega INR 5 billion pension scheme 'Pradhan Mantri
Shram-Yogi Maandhan' for the 100 million unorganised
sector workers with monthly income up to INR 15,000;
assured monthly pension of INR 3,000 to be provided
from the age of 60 years
• Gratuity limit increased from INR 1 million to 2 million
• 98% rural sanitation coverage achieved; 545,000 villages
declared "Open Defecation Free"
• Allocations under Swachh Bharat reduced from
INR 169.78 Billion to INR 127.50 Billion for FY2019-20
• 1.43 billion LED bulbs provided leading to consumer
savings of INR 500 billion per year in power bills
• EPFO membership increased by nearly 20 million in
two years
• 10 million youth trained under
Pradhan Mantri Kaushal Vikas Yojana
• 75% of woman beneficiaries under PM Mudra Yojana
3. UNION BUDGET 2019-20 3
TOTAL EXPENDITURE
27.8
DEFENSE
3000
PMKY
750
RAILWAYS
646
MGNREGS
600
N-E
DEVELOPMENTS
582
UREA SUBSIDY
502
ROAD WORKS
489
NATIONAL
EDUCATION
MISSION
386
NATIONAL
HEALTH
MISSION
323
DIRECT
BENEFIT
TRANSFER
295
AMRUT &
SMART
CITIES
139
SCHEDULED
CASTE & TRIBE
1300
TRILLION
ALLFIGURESININRBILLION
Revised Estimates
FY 18-19
Budget Estimates
FY 19-20
FISCAL DEFICIT
REVENUE DEFICIT
GROSS TAX REVENUE
3.4% 3.4%
2.2% 2.2%
22.5INR TRILLION
25.5INR TRILLION
“ This is not merely an
Interim Budget, but a
medium of the country's
development journey.
We have given a decisive
leadership, whose intent
is clear, policy is transparent
and integrity is resolute ”
4. UNION BUDGET 2019-20 4
While there haven’t been specific announcements for the social sectors,
the 10 dimensions for Vision 2030 for India outlined is slated to be driven
by NextGen technologies for social and infrastructure development,
including Artificial Intelligence, Electric Vehicles and electric storage devic-
es, thereby reducing the nation’s import dependence and ensuring energy
security. These dimensions of growth would also include digital infrastruc-
ture and economy, rural industrialization, clean rivers and inland waterway
development, space, farm productivity, distress-free healthcare, and
responsible governance and bureaucracy. On one hand, it is laudable that
the government is adopting an integrated and systemic approach to devel-
opment as a whole. While on the other, it also indicates heavy reliance on
capital-intensive investments and technologies. We see that consecutive
governments’ long term vision documents are well conceived, but imple-
menting them efficiently, with accountability has been the biggest
challenge.
Shalabh Srivastava
Country Director, RTI International India
VISION 2030 IS
CAPITAL INTENSIVE:
SUBOPTIMAL ENERGY
SECURITY FOCUS:
The focus on electric vehicles and storage devices for energy sector may not be enough to address India’s energy
security. The government should also look at investing in other Cleaner Energy Security measures such as coal to
methanol economy; waste to energy systems and microgrid technologies for the energy-dark pockets that still
exist in India today. Even the focus on thermal and wind energy have missed the required push in the budget.
Investment in research and innovations is integral to improving the competitive advantage of nations and compa
nies. This becomes even more relevant in today’s world, where globalization and the advent of the 4th Industrial
Revolution coupled with innovative technologies and business models actively impact the socio-economic
landscape of a country.
• India spends only 0.69% of its GDP on R&D, compared to the 2.0% spent by China and 4.3% spent by
Republic of Korea.
• India filed only 11 patents per million people in 2017. As a country, India ranks far behind its peers,
especially leading global economies like China (899) and USA (902).
The R&D expenditure as a percentage of GDP needs to increase with focus shifting towards a two-pronged invest
ment in technology and sustainability, specifically Clean Energy Security. Further, emerging segments such as
robotics, AI, blockchain, nanotechnology and bio-medical engineering are key areas of research & development in
order to create a competitive advantage relative to other countries and drive economic growth for the country.
India, with its myriad development requirements, needs an increase in R&D investment particularly in the area of
sustainability.
R&D AMISS AGAIN:
5. UNION BUDGET 2019-20 5
In this year’s Interim Budget, the Government has made a number of major political
statements, which is understandable in an election year. Interestingly, the Budget
has outlined not only short-term schemes but a long-term vision and outlook.
Outlining long-term statements are seen very positively, and I feel they should be
vigorously debated in detail, rather than stated as a communication of intent.
Another feature of long-term planning – it usually quantifies resource allocation and
investment numbers, which were lacking here. It will also be interesting to see how
the subsequent government will propose to modify any of these measures, if at all.
However, one of the very promising features within this Budget is the proposal of
tax reform on which the Government is clearly on a strong wicket. An anonymised
system of tax returns, which is completely free of the intervention of tax officials, is
not only more efficient, but can also mean less corruption. A matter of questionable
fiscal prudence, but also understandable in a pre-election budget, is the compari-
son of Revised Estimates from the previous year with a subsequent Budget
Estimates for the current and next year. Budgetary allocations are normally made at
Y.K. Alagh
Indian Economist &
Former Union Minister,
Government of India
THOUGHTS ON THE
INTERIM BUDGET
a higher number and revised down to a lower number (as Revised Estimates) because of considerations made to maintaining
and reducing fiscal deficit. BEs in principle must be compared with BEs and not REs.
The new proposed Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) gives direct annual income support to farmers with a
land holding of two hectares, supporting the government’s stated goal of doubling farmer income. The consolidated figure
should however be based on a cost concept that includes rent and on-farm investments. It is true that in a Ricardian sense
rent is unearned income from a scarce asset: land. But surplus unearned income from scarce resources is allowed in other
sectors such as scarce imports by corporates, so it should be allowed in agriculture.
rent is unearned income from a scarce asset: land. But surplus unearned income from scarce resources is allowed in other
Prof. Geethanjali Nataraj
Professor of Applied Economics, Indian
Institute of Public Administration
POLL YEAR BUDGET:
ON EXPECTED LINES
Amidst huge expectations from the middle class, the farming community, and
corporates, the Union government today delivered its last interim budget before
the general elections. It was a challenge for the Government to not only control the
fiscal deficit, but also ensure that the budget gave a much-needed boost to the
economy in crucial sectors such as agriculture and Infrastructure. The budget was
very much on these lines.
The middle class received much-needed relief as the government declared full tax rebate of up to Rs. 5 lakhs annual income
after all deductions. In fact, the government’s tax reforms were one of the budget’s highlights. These include electronic tax
assessment; processing of income tax returns within 24 hours; increase in standard deduction from Rs. 40,000 to Rs. 50,000,
and exemption on tax on second self-occupied house.
Defence expenditure and infrastructure spending were also increased with special emphasis on highways, railways and the
Sagarmala project. A flagship program of the Government, the Sagarmala project aims to enhance the performance of
India’s logistics sector and unlock the potential of its waterways and coastlines. Further, an outlay of Rs.5.35 lakh crore has
been announced for phase 1 of the Bharatmala project, which focus on road infrastructure.
To address agrarian distress, the budget has given much-needed attention to the agriculture sector. Under the Pradhan
Mantri Kisan Samman Nidhi scheme, the government will give Rs. 6,000 per year to farmers with less than two-hectare
landholding. With an allocation of Rs. 75,000 crores, the scheme is expected to benefit over 12 crore farmers. With stakes
high for the Modi government in the election year, it is important to note that it has maintained a commendable fiscal deficit
of 3.4% of GDP.
In sum, the budget has addressed economic issues such farmer distress, increased allocation for defence, social and physical
infrastructure, and implemented tax reforms. These will sustain the economy’s growth till a full-fledged budget is announced
by the next government.
6. UNION BUDGET 2019-20 6
This was a budget the Government was not meant to present. What was
expected was a simple statement of accounts. Instead, a full-fledged
budget was delivered to a lively Lok Sabha.
The recent bonhomie between the PM and Bollywood was evident. The
Finance Minister announced single-window clearance for Indian filmmak-
ers, which was previously available only to foreign filmmakers. This was
followed by a proposal to introduce an anti-camcording provision in the
Cinematography Act and reduction of GST on cinema hall tickets.
This was a budget for the middle class, as evidenced by the exemption for
TDS for rental income below INR 240,000 a year; exemption of INR 40,000
on interest earned on deposits; the proposal for two houses instead of one
for offsetting long term capital gains, and a rebate to those earning less
than INR 500,000. The beauty of this move is that it does not impact reve-
nues in a big way, as the sum total will not exceed INR 100 billion .
AMIR ULLAH KHAN
Economist & Adjunct Professor
MCRHRD Institute
MISSING A TRICK
With the dominant civil society narrative aggressively highlighting rising inequality, there was a danger that
the government would seek to strike against the India Inc. Instead, along with no new announcement of cess
or tax, more disposable income for the middle class should stimulate the currently dormant state of consump-
tion.
In the light of concessions given to the middle class, an automatic corollary would have been a corresponding
increase in taxes for the super-rich. Now we must wait to identify where the revenue replenishment will come
from.
Also interesting was a hefty increase in expenditure on fisheries, clearly targeting West Bengal, Orissa and
Andhra Pradesh. A special mention was made, in the form of a modest allocation to another scheme for the
cow, in the form of a Kamdhenu Aayog, i.e. a national cow board.
Despite prior large-scale criticism of poor Ayushman Bharat allocation, there was no new outlay for the
scheme. Instead, the FM only noted that a large number of citizens have benefitted, and several AIIMS are
coming up.
A big worry remains on the fiscal front. Where is the money for these schemes? GST collection should have
been at least 13 lakh crores by March 2019. With what has happened this financial year till now, we will clearly
be woefully short. Instead of increases in income tax rates or slabs, we have a downward revision and a rather
confusing rebate. The Government is clearly signalling that it intends to relax its stance on direct taxes and
depend more on indirect taxation for revenue mobilization. With GST rates as high as 18 percent for a bulk of
goods and services, demand will not grow sharply. And with new e-commerce and retail curbs, growth antici-
pated from middle-class consumption might not happen. Further, the budget speech completely ignored
unemployment, and praised demonetization, a subject that needs no further discussion.
Overall, the budget speech was along expected lines. The interesting announcements were on digital villag-
es, solar power and on urban infrastructure in villages. However, it is a mystery why the government did not
go all-out to woo India’s recalcitrant farmers. There is a 2 percent interest rate rebate, and 3 percent for
well-behaved borrowers, but this will only impact an insignificant ten percent that borrows from banks. Why is
this dole restricted to a mere INR 500 a month per farming household, and why only for those who have less
than 2 acres of land? What will this do to help farm distress? The guarantee of a reasonable income for all
farming household would have been a game-changer. However, Piyush Goyal missed a chance to be gener-
ous - and that is why the voter might not be impressed
7. UNION BUDGET 2019-20 7
“ This is not merely an
Interim Budget, but a
medium of the country's
development journey.
We have given a decisive
leadership, whose intent
is clear, policy is transparent
and integrity is resolute ”
Inland Waterway Development
10 DIMENSIONS OF VISION 2030
The interim Finance Minister, Mr. Piyush Goel presented a populist budget
today. With the aim of catapulting the nation into a 5 trillion-dollar economy
in the next 5 years, the FM laid down the 10 dimensions of the growth story
for India.
Acknowledging the contribution of the middle class and salaried tax payer
to nation building, various tax benefits have been introduced for them.
Taxpayers with taxable income upto INR 5 lakhs would not be paying taxes
now on account of the enhanced rebate. For taxpayers holding more than
one self-occupied house property, notional rent on second house property
would not be taxable. Standard deduction has been raised from INR 40,000
to INR 50,000 for salaried tax payers.
Minimum Government
& Maximum Governance
1
2
3
4
5
Satellites & Space Exploration
Farm Productivity
Health assurance & infrastructure
6
7
8
9
10
Physical & social infrastructure
Clean Rivers & Irrigation
Digital India
Electric Vehicles & Energy Storage
Rural Indutrialisation
A once in a lifetime benefit of rollover of long-term gain on sale of residential property has been introduced for
investment made in 2 residential houses if the gain is below INR 2 crores. Enhancing the threshold for TDS on
interest from banks and post office deposits to INR 40,000 and on rental payments to INR 2, 40,000 annually will
bring relief again for middle class taxpayers.
Anti-tax abuse moves like demonetization have increased tax filing base by 1.06 crore and also anti-black money
laws have got INR 1.30 lakh crore additionally into the tax net.
The Government continues to focus on use of technology to simplify overall tax process. Measures like process-
ing of tax return and refund in 1 day and fully automated e-asseements are steps in that directions.
Overall, interim-Budget 2019 is a welcome move from the Government.
Parizad Sirwalla
Partner & Head, Global Mobility Services-Tax,
KPMG in India
8. UNION BUDGET 2019-20
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