Global Economy in the New Year: A Round Up...At the start of the new year, the global economic and financial market conditions deteriorated drastically and were dominated by a series of events such as a renewed fall in oil prices, fresh turmoil in China's financial market, a looming European banking crisis, and policy variations by some of the world's key monetary authorities. Some of these events, which could have boosted sentiments significantly, actually failed to do so. Cheaper energy and commodity prices, which enhance consumers' disposable income and lower companies' input costs, are hurting energy companies profits and now seen as a threat to lender banks.
Budget 2016-17: Striking the Right Chords...The government's Union Budget for the fiscal 2016-17 has number of announcements, which could, if implemented effectively, augment the real and financial sectors of the economy. Stability has been maintained in tax rates and structures, with some benefits to smaller individual and corporate tax payers,
and an orientation towards domestic manufacturing, as well as
rationalisation and simplification. The
budget with a much needed emphasis on the agricultural and social
sectors is a step forward in addressing some of the supply-side
issues in agriculture and in skilled manpower,
at the same time this would also help in demand generation from the
and weaker sections of the economy.
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