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How will Jaitley manage the Fiscal Deficit target?

Akhilesh Bhargava

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Being an election year, the government is finding it increasingly hard to maintain its promised fiscal deficit target of 3.3% of GDP. A failed disinvestment program, unsatisfactory direct and indirect tax collections and an unwillingness to cut down on populist spending is only adding to the concern. However, Arun Jaitley still maintains his government is up to the task.

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Business Tit-Bits

Is Yeddyurappa guilty?

Akhilesh Bhargava

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It is a well-known accepted fact that our ministers receive sums of money as kickbacks from corporates and inviduals based on what is the motive that is needed to be accomplished. They receive these payments for themselves as well as on the behalf of their parties. These sums that are paid to the ministers are illegal and meant to leave no trail of evidence behind. And that seemed to be the case for Yeddyurappa as well. The question arises here is Yeddyurappa guilty? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.

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Business Tit-Bits

The jobs are missing Mr. Jaitley

Akhilesh Bhargava

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India needs a million new jobs per month, to provide gainful livelihood and employment to the graduating adults. However, in spite of agencies such as Niti Aayog, NSSO, and EPFO giving a rosy picture, the ground reality is that jobs are not being created. Unemployment is a huge social, economic and political problem with more and more youth entering the jobs market every month. This will even be an issue in the ensuing elections and stands testimony to the fact that many flagship reforms by the government have not been a success. Falling corporate profits, unresolved banking profits and several big companies being in a problem has added to the woes. While macro economic factors of the economy look good, the picture of the average household does not look good. We discuss a few more changes that would help the situation if implemented.

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Business Tit-Bits

Is Chhota Bhai favouring Bada Bhai?

Akhilesh Bhargava

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Bada bhai Mukesh Ambani bailed out Chhota bhai Anil Ambani by cutting a cheque of ₹ 480 crores as outright payment on behalf of RCom to Ericsson. Anil Ambani thanked his brother and publicly acknowledged his generosity. Another problem still persisting for RCom is the ₹ 46,000 crores due to lenders led by SBI who were unwilling to release an amount of ₹ 266 crores of refunds to RCom. The issue of sale of assets of RCom to RJio came to an end with both companies announcing to terminate the sale which was pegged at a value of ₹ 18,100 crores. With no other option for RCom, it must now go into insolvency proceedings and the value of its assets will deteriorate and be available for a much cheaper price. With no worthwhile competitor, RJio seems like the only one to pick up the assets of RCom at a throwaway price, which will benefit Mukesh Ambani by thousands of crores.

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