Page 8 - Budget Session

All-party meet ahead of Budget: 'Special category status' demands ring loud

Economic Survey to be tabled today, ahead of Budget on Tuesday. Oppn looks to put govt on the mat on issues ranging from UP order on Kanwar yatra to railway safety, reports Archis Mohan

Finance Bill apart, govt to move 5 new Bills in the Budget Session

Beginning Monday, session to have 16 sittings before concluding on Aug 12

India put up tariff walls. To revive factories, it must bring them down

The jobs crisis in the most-populous nation has assumed alarming proportions. Young graduates are nine times more likely to be unemployed than those who can't read or write

Food subsidies to cost 11% more than Interim Budget estimate: Report

The country's combined food and fertiliser bill is expected to reach Rs 3.88 trillion, up 5% rise from the estimate in the interim budget unveiled before the election

Union Budget expectations highlights: Real estate sector seeks tax relief

Budget 2024 highlights: FM Nirmala Sitharaman is all set to present the Union Budget 2024-25 in the Lok Sabha on July 23

Budget watch: Real estate sector wants industry status, tax relief

The sector also expects the Centre to provide measures, including tax breaks, to boost the demand for affordable housing, generally priced below Rs 50 lakh

Budget 2024: Govt may introduce amendments to push banking sector reforms

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 are needed for privatisation of public sector banks, sources said. These Acts led to the nationalisation of banks in two phases and provisions of these laws have to be changed for the privatisation of banks, they said. Amendments, if approved by Parliament, would help bring down government holding in state-owned banks below 51 per cent, improve bank governance and enhance investors' protection, sources said. Parliament session beginning on July 22 would witness the Budget presentation on July 23 and conclude with the passage of the Finance Bill on August 12. It is to be noted that the government had listed amendment to these laws to be tak

Budget Watch: What path will the finance minister take in Budget 2024?

It will be interesting to see the path the FM opts for in the Budget and how she strikes a balance between the govt's political compulsions and economy's medium-term needs

Budget 2024 must focus on tax relief to stimulate consumption: India Inc

The Union Budget FY25 should focus on offering relief to taxpayers, especially in the lower income brackets, to stimulate consumption, industry players suggested. Finance Minister Nirmala Sitharaman is scheduled to present the full Budget for fiscal 2024-25 on July 23 which will be the first major policy document of the new government. The industry also urged the finance minister to lower corporate tax, phase out tax exemptions, and broaden tax base to boost economic growth. "Rationalise and simplify the tax system to improve compliance and promote investment. Consider measures such as reducing corporate tax rates, phasing out tax exemptions, and broadening the tax base to make the tax regime more efficient and equitable," Assocham said. Rating agency ICRA said the government is likely to set a fiscal deficit target at 4.9-5 per cent for FY25, as against 5.1 per cent estimated in the Interim Budget on February 1, without compromising the capital expenditure target of Rs 11.1 lakh .

Fair trade, focus on manufacturing, infra on steel firms' Budget wish list

Steel companies hope the govt will continue to focus on infra expansion while also giving the industry a level playing field to compete with imports

Looking ahead

President points to the Budget for explicit policy agenda

Union Budget 2024: Key FAQs on interpreting the Budget, economic priorities

The Union Budget 2024 will detail the government's projected income, expenditure, economic priorities, and resource allocation, pivotal for charting the country's future course

GST rate rejig panel due for another revamp ahead of full Budget

Council may meet before Budget presentation in the middle of next month

Gandhi, Ambedkar, Shivaji statues shifted within Parliament; Cong unhappy

Statues of Mahatma Gandhi, B R Ambedkar and Chhatrapati Shivaji, among others, have been relocated within the Parliament premises as part of a landscaping exercise, a move that drew sharp criticism from the Congress on Thursday. The statues of tribal leader Birsa Munda and Maharana Pratap have also been shifted to a lawn between old Parliament building and the Parliament library. All statues are now in the same place. Reacting to the development, Congress general secretary Jairam Ramesh said on X, "Statues of Chhatrapati Shivaji Maharaj, Mahatma Gandhi, and Dr. Babasaheb Ambedkar have just been removed from their places of prominence in front of the Parliament House. This is atrocious." Attacking the BJP, Congress's media and publicity department head Pawan Khera said when Maharashtra voters did not vote for BJP, the statues of Shivaji and Ambedkar were removed from their original place in Parliament. When they did not get clean sweep in Gujarat, they removed the statue of Mahatma

Modi govt reshaped, transformed Budget in last decade: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Modi government has reshaped the Union budget in the last 10 years from a mere record of expenditures to a strategic blueprint for equitable distribution. The minister asserted that the government would continue to maximise the value of taxpayers' money by putting it to the best possible use. She said the Modi government has prioritised transparency in its budgeting practices and numbers. Countries with transparent budgets are often viewed more favourably by international bodies such as the IMF and World Bank. This can lead to improved global trust. "This starkly contrasts the @INCIndia-led UPA government's repetitive practice of hiding the deficits through off-budget borrowings and issuance of 'Oil Bonds', which somewhat covertly shifted the fiscal burden to future generations. Under UPA, standard fiscal practices were routinely changed to make Budget numbers look favourable," Sitharaman said in a series of posts on X. She sa

Decoding Annual Budget

Learn it from an economist on how to read the Annual Budget that the nation presents to its citizens every year. >

Atishi announces Rs 1,000 monthly assistance scheme for women aged above 18

Delhi Finance minister Atishi on Monday announced the 'Mukhyamantri Mahila Samman Yojana' under which Rs 1,000 will be given monthly to all women aged above 18 from the fiscal year 2024-25. Atishi announced the scheme in her maiden budget speech. "The Kejriwal government will give a monthly amount of Rs 1,000 to every woman aged 18 or above. Under the Mukyamnatri Mahila Samman Yojana, women will be given this benefit," she said. Atishi presented the budget for the financial year 2024-25 in the Delhi Assembly on Monday with an outlay of Rs 76,000 crore, and said the government is trying to realise the dream of 'Ram Rajya'.

Uttarakhand's Rs 89,000 cr Budget to focus on women's welfare & education

Dhami government has allocated Rs 574 crore specifically for women's welfare, with a strong focus on empowering women

Rs 89,230 cr budget for Uttarakhand's inclusive development: CM Dhami

The Uttarakhand government on Tuesday tabled the annual budget of more than Rs 89,000 crore for financial year 2024-25 in the state assembly. Presenting the budget in the House, state finance minister Premchand Agarwal said it was an inclusive budget aimed at building a developed Uttarakhand. The budget will be passed on March 1 after a debate in the house over the next few days.

Budget session: Maha govt tables supplementary demands of Rs 8,609 cr

The Maharashtra government on Monday tabled supplementary demands of Rs 8,609 crore on the first day of the Budget session of the state assembly. State finance minister Ajit Pawar tabled the supplementary demands, which are additional funds sought by the government over the budgetary allocation, in the legislative assembly, followed by the council. "I table the supplementary demands of Rs 8,609.17 crore before the House," Pawar said. As per the supplementary demand note, demands of Rs 2,210 crore were for financial assistance to farmers whose crops were destroyed due to the unseasonal showers, hailstorms and water scarcity. During the winter session in December last year, supplementary demands of Rs 55,520.77 crore were tabled in the state legislature and eventually cleared.