Some key statistics from the Economic Survey 2015-16, presented as a part of the Budget session 2016. These include past year's performance and forecast for next period, explained through infographics.
Throughout the history, oil prices have had a roller-coaster
ride and the trends do not make sense all the time. The current downturnhas once again brought into focus the complex dynamics behind this crucial commodity.
This article covers the very starting point in this story – the determinants of
oil price. The rate of crude oil is impacted by the demand-supply dynamics, but
contrary to popular belief, it is primarily set by the derivatives market.
The Union Budget 2016 is expected to have a big focus on
developing entrepreneurial ventures and supporting the existing micro, small
and medium enterprises (MSMEs). The Government shares the industry’s view that this
segment will drive the future economic growth in a big way and generate employment
opportunities. Some of the key demands of the industry are around tax reforms, infrastructure
and regulatory simplification.
Through its draft Startup India Action Plan, the Government has indicated its commitment towards a conducive ecosystem for startups. Continued from our previous post in this series, the new norms for eligible enterprises are as follows:
The Budget Session 2016 will commence from February 29th
and individual taxpayers are waiting with high hopes. While Finance Minister
Arun Jaitely has already made it clear that it is not going to be a populist
budget, revisions are expected in the areas where changes are overdue.
Acknowledging the legal and infrastructural hurdles faced by startups, the Modi Government has announced some key initiatives through its flagship Startup India Action Plan. The proposed regulatory simplification for new ventures eligible under the Plan are:
While the last two years altogether have been a volatile period for oil prices globally, they have been in a free fall since the last quarter of 2015. Benchmark Brent closed at $33.10, while WTI closed at $32.30 on last Wednesday, January 27. The prices have fallen by about 70% from June 2014 peak prices.[May 2016 Update: July Brent is trading at $49.35, while June WTI is at $48.30. Read our update synopsis]Interestingly though, the supply side players do not appear to be relenting anytime sooner. In fact, analysts expect that the production is going to increase in near term, pushing the prices down even further. So, what is really going on with the oil industry?