Page 20 - Budget 2023

Union Budget cuts MGNREGA allocation by 30% to Rs 61,032 cr for 2023-24

During the Coronavirus-induced lockdown, lakhs of migrant workers had found work under it when they were forced to return to their native places

First budget of 'amrit kaal' lays foundation for developed India: PM Modi

Prime Minister Narendra Modi on Wednesday said the first budget of the "amrit kaal" provides foundation to fulfil the resolve for a developed India while giving priority to deprived sections of the society as well. In his first reaction to the Budget presented by Finance Minister Nirmala Sitharaman, Modi said it will fulfil dreams of the aspirational society, farmers and middle class. The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said. Touching on various aspects of the budget, he said success of digital payments has to be replicated in the agriculture sector and a scheme has been brought for laying down digital infrastructure for it It will make cooperatives pivot of development of rural economy, he said. "An unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development," he said.

Govt to launch Atmanirbhar Clean Plant Programme with outlay of Rs 2,200 cr

The Finance Minister said that the agriculture credit target will be increased to Rs 20 lakh crore with focus on animal husbandry, dairy and fisheries

Compute your income tax liability after Budget 2023 changes here

No tax will have to be paid for income up to Rs 3 lakh

Budget balanced, likely to boost demand in housing sector: Realty industry

"Moreover, the sustained attention on manufacturing and improvement of urban infrastructure is likely to boost the I&L sector and at the same time spur economic activity and job creation"

Union Budget 2023: Sports Ministry receives over Rs 700-crore boost

In a year when the Indian athletes will compete at the Asian Games and prepare for 2024 Paris Olympics, the Sports Ministry has got a fillip with the government allocating Rs 3,397.32 crore, an increase of Rs 723.97 crore, in the Union Budget here on Wednesday. The amount is more than the revised budget of the previous financial year (2022-23) when the ministry received Rs 2,673.35 crore, as against the actual allocation of Rs 3,062.60 crore. One of the reasons for the reduced revised allocation for 2022-23 could be the postponement of the Hangzhou Asian Games, which will be held this year. The ministry's flagship programme, 'Khelo India -- National Programme for Development of Sports' continues to be the government's priority, with it being allotted Rs 1,045 crore as against the revised allocation of Rs 606 crore during the previous financial year. This is an increase of Rs 439 crore and points to the government's commitment to the programme, which over the years, has shown the ..

Union Budget 2023: Allocations for women's issues higher than last year

Housing and rural employment schemes are also part of gender budget, which was first introduced in 2005-06

Budget: Direct, indirect taxes cover 58 paise of every rupee in govt coffer

For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 34 paise from borrowings and other liabilities, 6 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2023-24. As per the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on Wednesday, Goods and Services Tax (GST) will contribute 17 paise in every rupee of revenue, while corporation tax will account for 15 paise. The government is also looking to earn 7 paise out of every rupee from excise duty and 4 paise from customs duty. Income tax will yield 15 paise. The collection from 'borrowings and other liabilities' will be 34 paise, according to the Budget 2023-24. On the expenditure side, the biggest outlay is interest payments at 20 paise for every rupee, followed by the states' share of taxes and duties at 18 paise. Allocation for defence stands at 8 paise. Expenditure on central sector sc

Budget 2023: This Is how the budgetary allocation compares with last year

The government has proposed on creating infrastructure by increasing the capital expenditure by 33 per cent to Rs 10 trillion

Post-Budget Conference by Union Finance Minister Nirmala Sitharaman

Catch the live streaming of the press conference held by Finance Minister Nirmala Sitharaman

Budget's fiscal consolidation roadmap to stabilise debt burden: Moody's

Debt overhang offsets country's growth potential, says rating agency

Budget 2023-24: Where does the rupee come from, and where does it go?

Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings

Aquaculture stocks soar after govt slashes customs duty on shrimp feed

Shares of Avanti Feeds, Coastal Corporation, and Waterbase soared up to 20 per cent in trade, as against a 2.05 per cent climb in the S&P BSE Sensex

New tax rates will raise purchasing power of middle class: Bandhan Bank CEO

The revision in income tax rates will increase the purchasing power of the middle class sections of the society, Bandhan Bank's Chief Executive Chandra Sekhar Ghosh said

Budget 2023 ticks all checkboxes; Adani group stocks played spoilsport

It is typical of markets to rally ahead of the budget proposals and see some profit taking once the measures are announced. This time, however, the Adani group stocks played spoilsport

Rs 5.94 trillion allocated to Defence Ministry in Union Budget 2023

The defence budget was increased to Rs 5.94 lakh crore for 2023-24 from last year's allocation of Rs 5.25 lakh crore. In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on Wednesday, a total of Rs 1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware. For 2022-23, the budgetary allocation for capital outlay was Rs 1.52 lakh crore but the revised estimate showed the expenditure at Rs 1.50 lakh crore. According to 2023-24 budget documents, an allocation of Rs 2,70,120 crore has been made for revenue expenditure that includes expenses on payment of salaries and maintenance of establishments. The budgetary allocation of revenue expenditure in 2022-23 was Rs 2,39,000 crore. In the budget for 2023-24, the capital outlay for the Ministry of Defence (Civil) has been pegged at Rs 8,774 crore while an amount of Rs 13,837 crore has been set aside under capital outlay. A

Govt to set up central processing unit for forms filed under companies law

To ensure a faster response to corporates, the government will set up a central processing centre for handling forms filed with field offices under the companies law. Presenting the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman on Wednesday also said that an integrated Investor Education and Protection Fund (IEPF) Authority will be set up to make the process of reclaiming shares and dividends easier. The Companies Act, 2013 is implemented by the corporate affairs ministry and the IEPF Authority also comes under the ministry. "A Central Processing Centre will be set up for faster response to companies through centralised handling of various forms filed with field offices under the Companies Act," Sitharaman said. According to the minister, for investors to reclaim unclaimed shares and unpaid dividends from the IEPF Authority with ease, an integrated IT portal will be established. Over the years, the government has been taking various measures to improve the ease of

Small businesses to common citizen: 5 key Budget proposals explained

Budget gives Rs 2.40 trillion to Railways: the highest-ever outlay for the national transporter

FM announces savings scheme for women with 7.5% interest rate for 2 years

Union Finance Minister Nirmala Sitharaman Wednesday announced a 'Mahila Samman Saving Certificate' with a fixed interest rate of 7.5 per cent for two years. The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well. "One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent," Sitharaman announced. She also said that for the economic empowerment of women under the Deendayal Antyodaya Yojana National Rural Livelihood Mission, 81 lakh self-help groups have been created by mobilising rural women. "We will enable these groups to reach the next stage of economic empowerment through the formation of large producer enterprises or collectives with each having several thousand members," she said. Financial assistance of more than Rs 2.25 lakh crore

Union Budget 2023: PAN to be made single ID to boost ease of doing business

Process of acquiring a PAN and linking it with business accounts will be made easier through centralised digitisation platform