Page 18 - Budget 2024

NFL, RCF, FACT: Shares of fertiliser firms rally up to 13% ahead of Budget

In the pre-Budget consultations with the finance minister, the agri sector had sought rationalisation of fertiliser subsidies and hike in investment for agricultural research.

Ahead of Budget's presentation, Congress demands legal guarantee for MSP

A day before the presentation of the Union budget, the Congress on Monday said the Centre must make three important announcements of making MSP a legal guarantee, fix MSP on the basis of the Swaminathan formula and establish a permanent commission to monitor the implementation of farm loan waivers. Congress general secretary in-charge Jairam Ramesh said that of all the "failures" of the central government, the "incompetence and ill-will" of the Ministry of Agriculture and Farmers' Welfare is the most damaging. "While the UPA had raised the MSP of wheat by 119% and that of rice by 134%, the Modi government has raised it by 47% and 50% respectively. This is not at all enough to keep up with inflation and the rising prices of agricultural inputs," Ramesh said in a statement. He pointed out that farmers' debt has increased tremendously. According to the National Sample Survey Office (NSSO), outstanding loans have increased by 58 per cent since 2013, he said. "More than half of the far

SBI Fund sees Union Budget 2024 arming Reserve Bank with liquidity tool

MSS bonds are issued by the government outside the normal borrowing program to enable the Reserve Bank of India soak up liquidity

Budget 2024: Demand for creation of new NBFC-PSL category to boost MSME

The creation of a new category of Non-Banking Financial Companies (NBFCs) dedicated to priority sector lending (PSL) to support the growth of MSMEs features among the key demands by business leaders in the forthcoming Union Budget. Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament on Tuesday. Shachindra Nath, Founder & MD of UGRO Capital Ltd, urged the government to address specific challenges faced by NBFCs that cater to the Micro, Small, and Medium Enterprises (MSMEs). He called for the establishment of NBFC-PSL, which would focus at least 85 per cent of their assets under management (AUM) on the priority sector. "Creating an NBFC-PSL category will foster a more inclusive and resilient financial ecosystem for MSMEs," Nath told PTI. He said loans from banks to NBFCs for onward lending to MSMEs should be classified as PSL loans', with current caps removed. Nath also proposed reintroducing the Partial Credit Guarantee Scheme and expanding it to includ

Union Budget 2024: The significance of the Economic Survey explained

The Economic Survey 2024, to be presented today, will evaluate India's economic recovery, growth potential, and address key challenges, setting the stage for budgetary decisions and fiscal policies

Budget 2024: From mfg to trading, here's list of likely winners and losers

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes

Stocks to Watch, July 22: RIL, HDFC Bank, Wipro, YES Bank, IDBI Bank, PVR

Stocks to Watch today, Monday, July 22: Mukesh Ambani-owned Reliance Industries Limited, last Friday, reported a 5.5% Y-o-Y decline in consolidated profit to Rs 15,138 crore in Q1FY25

Latest LIVE: Democratic Party candidate Joe Biden pulls out of US presidential race

Catch all the latest LIVE updates from across the globe

Budget 2024: Jindal Stainless seeks zero customs duty on ferro nickel

Jindal Stainless has urged the government to remove the customs duty on ferro nickel and molybdenum in the upcoming Budget to ensure the industry's access to these critical raw materials at competitive prices. The present customs duty on ferro nickel is 2.5 per cent, while in the case of ferro molybdenum, it is 5 per cent. "We propose a long-term waiver of basic customs duty on ferro nickel and ferro molybdenum to ensure the industry's access to these essential raw materials at competitive prices," Jindal Stainless Ltd (JSL) Managing Director Abhyuday Jindal said. Jindal, on behalf of the stainless steel industry, urged the government to continue its support towards making the "Make in India" initiative competitive with incentives for innovation and sustainable practices. Reducing import duties on raw materials and offering tax benefits for research and development would greatly benefit the sector, he said. Finance Minister Nirmala Sitharaman will table the full budget for FY25 in

Budget 2024: Noida real estate developers expecting tax cuts on cement

Real estate developers in Noida and Greater Noida in western Uttar Pradesh expect the first Budget of the Modi 3.0 government to accord 'industry status' to their sector for easier access to funds, and address woes related to GST, including the 28 per cent taxation on cement. Hoping for "nuanced approach" to real estate woes, the developers seek the government's support beyond fiscal incentives, with the upcoming Budget focussing on enhancing transparency and efficiency through a robust regulatory framework, streamlined approvals process. Industry body CREDAI's western UP Secretary Dinesh Gupta said boosting the real estate sector with tax incentives, improved tax structures, and a single-window clearance policy will encourage further investment from both domestic and foreign sources. "Furthermore, tax reforms that lower income taxes for both corporations and individuals, simplify tax legislation, offer targeted incentives, expand the SWAMIH stress fund, and lower the GST rates on .

Affordable housing, infra growth likely to be in focus of Budget: Assocham

Greater focus on green mobility, affordable housing, holistic infrastructure development and a big push to manufacturing, along with boosting consumption demand, are expected to find prominence in the forthcoming Union Budget, said an Assocham-Primus paper. Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday in Parliament. Highlighting that the first Budget of the Narendra Modi 3.0 government will also include a long-term blueprint for making India a developed nation by 2047, the paper listed areas that would require the government's greater attention and priorities for realising the national goals. "While the Budget would attend to the immediate requirements of boosting consumption, investment and augmenting the supply side of the economy, it is also expected to lay a roadmap for the bigger goal of scaling up national income to a level of developed nations," said Assocham President Sanjay Nayar. He further said the government has the fiscal space to spend

Can we bank on the Budget?

With the structural change in the ruling National Democratic Alliance, will the government be able to move on the bank privatisation front in this Budget?

USIBC recommends PLI for media, entertainment industry in upcoming Budget

A top India-centric American trade body on Sunday recommended that the Indian government should introduce production-linked incentives for the media and entertainment industry in the upcoming Budget. The trade body also called for steps to level the playing field between Indian and foreign companies. Ahead of the annual Budget presentation by Union Finance Minister Nirmala Sitharaman on July 23, the US India Business Council (USIBC) pitched for liberalising the satellite communications industry and taking measures to create a level playing field for Indian and foreign financial services firms and reduce friction in the flow of capital between the two countries. Proposing eliminating value restrictions on courier exports exceeding Rs 5 lakh to streamline processes and foster greater efficiency, USIBC, in its memorandum to the Union Finance Ministry, suggested removing restrictions on perishable goods shipped via courier to ensure swift clearance, supporting perishable trade dynamics

Budget expectations: Child rights activists seek increase in funding

Ahead of the Union Budget, child rights activists and organisations have urged the government to put children at the centre of the development discourse and increase funding for their education, healthcare, and protection services. Child rights activists expressed hope that the government will heed their calls for a child-centric approach, ensuring the nation's youngest citizens receive the resources and protection they need to thrive. The Union Budget will be tabled on Tuesday. Puja Marwaha, CEO of CRY - Child Rights and You, stressed the significance of putting children at the centre of the development discourse. "Children constitute more than one-third of the overall Indian population, and investing in them can foster social equity and break the cycle of poverty," she said. Marwaha called for increased allocations for health and nutrition programs, such as the Saksham Anganwadi and Poshan 2.0, especially for children belonging to the Particularly Vulnerable Tribal Groups ...

Budget, earnings, global trends to drive stock markets this week: Analysts

The outcome of the Union Budget, quarterly earnings from corporates and global trends are the major factors to drive stock market sentiments this week, analysts said. Besides, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude are also crucial aspects to watch out for. "The upcoming Union Budget on July 23, 2024, has become the next focal point for the market, with high expectations for growth-oriented policies. Several factors will influence the market direction, including Q1 FY25 earnings, domestic and global economic data, and broader global market trends. "Market sentiment will be closely monitored by observing foreign and domestic institutional investor activity (FII and DII) and crude oil prices," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Among blue-chip firms Bajaj Finance, Hindustan Unilever, Axis Bank, Bajaj Finserv, Larsen & Toubro, DLF, Tech Mahindra and Nestle will announce .

Monsoon session begins Monday, Union Budget 2024 announcement on Jul 23

Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the NDA government on issues ranging from the NEET paper leak case and railway safety. The Monsoon Session begins on Monday and will have 19 sittings till August 12 when the government is expected to present six bills, including the one to replace the 90-year-old Aircraft Act, and also get the Parliament nod for the budget of Jammu and Kashmir, which is under central rule. Sitharaman will also table the Economic Survey in Parliament on Monday. Parliamentary Affairs Minister Kiren Rijiju has convened a meeting of the floor leaders of political parties in Parliament to understand issues they would want to raise during the session. The BJD, led by former Odisha chief minister Naveen Patnaik, has declared that it would play the role of a strong opposition and aggressively raise issues of interest to the state

Budget 2024: Disability rights activists demand increased allocations

Disability rights activists expect a substantial financial support in the upcoming budget to address the needs of persons with disabilities to ensure their development. Arman Ali, executive director of the National Centre for Promotion of Employment for Disabled People, stressed the need for earmarking budgets under central and state schemes across different ministries to ensure targeted funding for disability inclusion. This, he believes, would address the diverse needs of persons with disabilities and ensure adequate support across multiple sectors. Ali also highlighted the urgent need for allocations to improve accessible infrastructure, including community hospitals, primary health centres, district hospitals, and sub-district hospitals. He pointed out that without such allocations, persons with disabilities would continue to face significant barriers in accessing healthcare facilities, ultimately affecting their overall health outcomes. The activist also underscored the ...

Delhi should get Rs 10,000 cr from Rs 2 trillion paid as income tax: Atishi

Ahead of Budget 2024, Delhi Minister Atishi demanded the release of additional funds for Delhi for improving infrastructure across roadways, transportation, and power sectors

Budget 2024: What do women entrepreneurs expect from FM Nirmala Sitharaman?

Union Budget 2024: Experts seek women-centric initiatives that harness their entrepreneurship potential by providing credit opportunities, improve financial literacy and foster skill development

Budget 2024 wishlist: Amfi's hopes for mutual fund reforms and tax benefits

Budget 2024: One of Amfi's main requests is to align the tax benefits for pension-focused mutual fund schemes with those of NPS