Page 3 - Budget Wishlist

Budget 2024-25: Govt may increase capex to propel economic growth

With private investment still muted, the government is likely to maintain its momentum on increasing capital expenditure, especially for the infrastructure sector in the upcoming Budget to propel economic growth. Post COVID-19, the Budget has been laying special emphasis on capex. It has kick-started a dormant cycle for the economy. As a result India has witnessed over 7 per cent growth in the last three years, the highest among the large economies of the world. During the current financial year, the government has made a record high provision of Rs 10 lakh crore towards capex. During 2020-21, the government earmarked Rs 4.39 lakh crore which increased by 35 per cent to Rs 5.54 lakh crore in the subsequent year. Another 35 per cent hike in capex was done in 2022-23 to Rs 7.5 lakh crore which subsequently reached a high of Rs 10 lakh crore, an increase of 37.4 per cent. In the upcoming Budget too, the government is expected to earmark a large amount towards capex as such investment

Jindal Stainless MD calls for removal of raw material duties in Budget 2024

Jindal Stainless Ltd (JSL) MD Abhyuday Jindal has urged the government to remove import duty on raw materials in the upcoming Union Budget, a move, the industry leader said, will provide a level-playing field to domestic players. He suggested levying Basic Customs Duty (BCD) on imports as the domestic market is being affected by cheap and sub-standard stainless steel products from select group of countries like China and Vietnam. "One long-standing requirement of the stainless steel industry has been that there are certain raw materials that are not present in the country like ferro nickel and ferro molybdenum," Jindal told PTI. At present, 2.5 per cent import duty is levied on ferro nickel and 5 per cent on ferro molybdenum. Speaking further on Budget expectations, the JSL MD said severe dumping is happening from China, Vietnam, and certain countries with which India has Free Trade Agreements (FTAs). This is putting severe pressure on MSMEs and preventing the stainless steel indu

Understanding budget receipts and the role they play in govt finances

Capital receipts are non-recurring and either create a liability for the govt or deplete its assets; revenue receipts are recurring and do not entail any risk for the govt

Budget 2023: Govt should focus on broadening domestic economy, say experts

Clean energy is a key today and expanding use of Natural Gas via City Gas Distribution (CGD) will contribute to the efforts

Need to create specialised SME digital bank: Co-founder of Biz2Credit

Ahead of the Union Budget, Rohit Arora, CEO and Co-Founder of Biz2X, has suggested the government needs to come out with a specialised SME digital bank to cater to the funding needs of small businesses. Finance Minister Nirmala Sitharaman will present the last full Budget before the 2024 general elections in the Lok Sabha on February 1, wherein she is expected to announce slew of measures to boost economic growth. Arora said that small and medium businesses perennially face credit shortage and it is time that the government should come out with a specialised bank to cater their requirements. "SME digital bank can provide a bouquet of services to MSMEs, such as business CASA accounts for transaction banking, invoice and payments processing, correspondent banking, SME credit and trade finance, and other business financial services," he said. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small an

Budget wishlist: Steel sector seeks anti-predatory measures against imports

While domestic steel prices have remained subdued, raw material costs have surged approximately by Rs 6,000 per metric tonnes.

Budget wishlist: Pharma, healthcare industries seek simplified regulations

Fortis Healthcare MD & CEO Ashutosh Raghuvanshi said increased policy support is required to encourage, facilitate medical value travel to India

Expenditure rationalisation may be underlying theme of Budget 2023

The budget for the financial year 2023-24 (FY24) could be about controlling non-essential expenditure

Budget 2023: FDI in startups needs tax exemption, says Wadhwani Foundation

With an estimated 250 unicorns by 2025 from a little over 100 now and $180 billion of total funding by CY23, India's startup ecosystem is well-positioned to leverage the availability of young talent

Stormy Budget session likely as Oppn to raise Pegasus, farmers' issues

Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 on Monday and the Union Budget on Tuesday

Budget wishlist: Here are the key challenges in infrastructure sector

Implementation of reforms related to corporatisation of ports needs acceleration

India Inc pitches for more reforms and tax stability in Budget 2022-23

India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said. "Infrastructure sector with a multiplier impact on rest of the economy requires interventions especially to improve and diversify sources of financing. In this context, it is suggested that government should consider developing the municipal bond market so that urban local bodies can raise funds for investing in infrastructure," he said. Meanwhile, Assocham suggested extending a scheme the 'Vivad Se Vishwas' for .

FinMin invites suggestions on taxation from industry and trade bodies

The Finance Ministry has asked for suggestions on taxation from industries and trade bodies for Budget 2022-23, which is going to set the tone for growth of India's economy hit by the COVID pandemic

Tamil Nadu to become third state to present separate agri budget on Aug 14

While experts are divided over the outcome; Andhra experience shows positive signs

4 states, a UT will go to polls in 2021: What do they expect from Budget?

West Bengal, Assam, Tamil Nadu, Kerala and Poducherry will go to the polls in April-May this year

Budget 2021-22: CII suggests road map towards competitive import tariffs

Industry body CII has suggested a graded road map towards competitive import tariffs over three years

BJP pushes budget relief for middle class, business in wake of virus

The government ranks more than 300 million of India's population of 1.35 billion among middle-class consumers

In search of a new fiscal road map

Budget 2021 must overhaul the existing FRBM Act to set feasible targets on deficit and debt

Don't tweak inflation target range: Economists tell FM in pre-Budget talks

The current range of 2-6 per cent is valid till this fiscal year-end

Pre-Budget talks: FinMin gets suggestions on fiscal policy, green growth

The government received a host of suggestions concerning fiscal policy, taxation and green growth, among others