Page 6 - Budget And Economy

Strong demand for premium products persists despite inflation pressures

Amid shifting retail dynamics driven by India's quick commerce boom, premium products are moving off shelves faster across all channels

Positives outweigh negatives in economy: RBI Governor Shaktikanta Das

Says action against NBFCs in the best interest of customers

Centre doubles Mudra loan ceiling to Rs 20 lakh under new category

Finance Minister Nirmala Sitharaman had made an announcement regarding this in her July 2024 Budget speech

Rachel Reeves aims for economic reset in UK's Budget ahead of IMF meetings

Britain's finance ministry said Reeves would support proposals in Washington to expand development financing for poorer countries to meet the United Nations' sustainable development goals and encourag

UK borrowing surpasses forecasts again as Reeves prepares for budget

Alex Kerr, an economist with Capital Economics, said the figures highlighted the limited scope Reeves had to increase day-to-day spending without raising taxes

FinMin seeks expenditure proposals for 1st supplementary demands for grant

The first batch of Supplementary Demands for Grants for 2020-21 is proposed to be placed before Parliament in the ensuing monsoon session, the Finance Ministry said in an office memorandum

Combined capex of state govts to undershoot FY25 budget estimates: ICRA

According to ICRA, the total revenues of the sample states are expected to rise by 10 per cent in FY25 compared to the previous year, well below the 18 per cent growth projected in the FY25 BE

China's finance ministry to detail fiscal policy for economy boost on Sat

China plans to issue special bonds worth about 2 trillion yuan ($283.43 billion) to support household consumption and help local governments tackle their debt problems

Malaysia hopes EU legislators will be accommodative on sustainable policies

n the engagements we have made with EU, we are ready to comply. We just need a little bit more time for our small holders... the government will assist them to comply

Policymaking is nothing if not about trade-offs: CEA V Anantha Nageswaran

During his speech on policymaking at the launch of the Isaac Centre for Public Policy (ICPP) by Ashoka University in Bengaluru, Nageswaran emphasised the role of researchers

Argentina's Prez presents 2025 budget, vows austerity to kill deficit

Libertarian President Javier Milei of Argentina presented the 2025 budget to Congress late Sunday, outlining policy priorities that reflected his key pledge to kill the country's chronic fiscal deficit and signaled a new phase of confrontation with lawmakers. In an unprecedented move, Milei personally pitched the budget to Congress instead of his economy minister, lambasting Argentina's history of macroeconomic mismanagement and promising to veto anything that compromised his tough slog of tight fiscal policy. The president's budget proposal followed a week of political clashes in the legislature where Milei controls less than 15% of the seats over spending increases that the administration warns would derail its IMF-backed zero deficit budget. Opposition parties have sought to pass laws to raise salaries and pensions with inflation to help hard-hit Argentines cope with brutal austerity. The cornerstone of this budget is the first truth of macroeconomics, a truth that for many yea

Niti Aayog seeks proposals to evaluate centrally sponsored schemes

Government think tank Niti Aayog has invited proposals for evaluation of centrally sponsored schemes across nine crucial sectors, including health, agriculture and education. According to the Aayog, each sector will require a separate application through the GeM portal. The 9 CSS packages include agriculture and allied sector, women and child development, education and rural development, among others. Centrally sponsored schemes (CSS) are implemented by the state governments but sponsored by the central government with a defined shareholding. These schemes are aimed at supplementing efforts undertaken by the state government because the Centre has more resources at its disposal. These schemes can either be national or regional in character. In CSS, the funding by the central government works as an initiation, with further spending coming from states towards the cause. The deadline for receiving the request for proposal (RFP) is August 30, 2024.

Andhra Guv promulgates ordinance for Rs 1.3 trn Vote-on-Account budget

Andhra Pradesh Governor S Abdul Nazeer has promulgated an ordinance approving a Vote-on-Account budget for the state for a sum of Rs 1.3 lakh crore for four months. The Andhra Pradesh Appropriation (Vote-on-Account No. 2) Ordinance, 2024 came into force and enables the state government to withdraw funds from the Consolidated Fund of the state. It is necessary that a grant in advance be made in respect to the estimated expenditure for further (4) months of the financial year 2024 25, said the ordinance shared on Thursday. As the Andhra Pradesh Legislature is not in session now, the Governor was convinced that circumstances make it necessary to take immediate action in the form of an ordinance under clause (1) of Article 213 of the Constitution of India. According to the ordinance, the southern state is going for a Vote-on-Account budget for another four months as the new government has come to power and the Finance Department in coordination with other departments is finalising the

'B' in BJP's Budget stands for 'betrayal', alleges Cong President Kharge

Congress president Mallikarjun Kharge on Thursday accused the Modi government of indulging in "tokenism" by bringing in "so-called employment-linked incentive schemes", and said the 'B' in the Union Budget stands for "betrayal". Kharge alleged that the Modi government's Budget has mere internships forced upon the industry with no long-term solution in sight. He said that a week into the 'Kursi Bachao Budget', the academia and the industry awaits clarity from the Modi government on its "tokenism" regarding the "so-called 'employment-linked incentive' schemes". "Crores of youth want a permanent solution to their plight of Jobs, but Narendra Modi ji's government bitterly deceives them by not even giving a temporary solution!" he alleged. "We ask two questions to the Modi government on these sham schemes -? When will the Modi government provide details of the schemes?" he said. Neither the youth nor the industry which is to be nudged, according to Finance Minister Nirmala Sitharaman,

Budget a fine balance, takes care of all segments, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism. Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26. Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready. The minister, who presented her seventh Union Budget, also said the economic document proposes unflinching support for cooperative federalism. "I would like to underline that our unflinching commitment to cooperative federalism. The total resources proposed to be transferred to the states in 2024-25 are estimated at Rs 22.91 lakh crore. This actually entails an increase of R

Budget with BS: 'We are in one of the biggest market booms', says Motilal Oswal's Raamdeo Agrawal

Latest updates: Catch all the updates on the analysis of the Union Budget for FY25 here

Parliament updates: Budget proposes unflinching support to cooperative federalism, says FM in RS

Lok Sabha and Rajya Sabha news updates: Here are the latest updates on the developments in the Parliament

Union Budget 2024-25, J&K Budget passed in Lok Sabha by voice vote

The Lok Sabha approved the Rs 48.21-lakh crore Budget for 2024-25 of the Union Government. The lower House also approved the budget of the Union Territory of Jammu and Kashmir with a voice vote. The Union Budget and Budget for J&K was passed by a voice vote by the Lok Sabha. The relevant appropriation bills were also passed by the House. Replying to the debate, Finance Minister Nirmala Sitharaman said the fiscal deficit of the central government is proposed to be brought down to 4.9 per cent of the GDP during 2024-25 and further to below 4.5 per cent by 2025-26.

Cong slams govt for double standards in giving funds to flood-hit states

The Congress Sunday accused the central government of practising "double standards" in allocating funds to flood-afflicted states, alleging that it was exacting "revenge" on the people of Himachal Pradesh for not voting for the BJP in the assembly elections. Congress general secretary (In-charge, Communications) Jairam Ramesh said, "Yesterday, the self-anointed non-biological Prime Minister said that Viksit Bharat depends on Viksit states. Wow, such a profundity. If only he put the taxpayer's money where his mouth is!" "After the disastrous floods of 2023, the government of Himachal Pradesh repeatedly demanded that the Union government declare the floods a national calamity'? a plea which Finance Minister Nirmala Sitharaman repeatedly rejected," Ramesh said in a post on X. "Now, in her Budget Speech, when allocating funds for irrigation and flood mitigation, the Finance Minister has provided a vivid illustration of the double standards at work in the non-biological PM's Government,"

News updates: One dead after flooding in UPSC coaching centre basement, rescue operations underway

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