Supreme Court Dismisses Plea To Delay Union Budget 2017-18
New Delhi: The Supreme Court on Monday rejected a petition to delay the annual Union Budget, which Finance Minister Arun Jaitley is scheduled to deliver on February 1, dismissing concerns about potential giveaways ahead of critical state polls.
A panel, headed by Chief Justice J S Khehar, found no merit in the public interest litigation by lawyer M L Sharma, who had called for the Budget to be delayed until after a round of five regional elections.
The case was motivated by fears that Prime Minister Narendra Modi's government could offer Budget giveaways to attract votes in state assembly elections to be held in February and March.
The most important poll is being held in Uttar Pradesh, a northern battleground state with a population of more than 200 million. The election is expected to be the biggest democratic exercise anywhere in the world this year.
A good showing is critical for PM Modi, and the Bharatiya Janata Party, if he is to stand a good chance of winning re-election in the 2019 general election.
Separately, the election commission was due to rule on a similar call for the Budget to be delayed. Its Model Code of Conduct bans governments from using administrative resources to solicit votes.
Voting kicks off in Punjab and Goa on February 4.
It will be held in seven stages across Uttar Pradesh from February 11, and will wrap up in the north-eastern states of Uttarakhand and Manipur.
Results of all the elections, which will eventually be reflected in Parliament's upper house, are due in mid-March.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.