Page 16 - Budget

Budget for President's office increase by 47.5% to Rs 144.18 crore

The interim Budget on Thursday allocated Rs 144.18 crore for the staff, household and allowances of the president, a massive increase of Rs 46.49 crore (about 47.5 per cent) from Rs 97.69 crore earmarked in the revised estimates for FY24. In the announcements for the 2024-25 interim Budget by Finance Minister Nirmala Sitharaman, Rs 90.87 crore was allocated for the president's secretariat and Rs 52.71 crore was sanctioned under the head 'other expenditures', which provides for the expenditure on the household establishment of the president, including staff salaries. Other expenditures also include discretionary grants of the president and provision for capital section. The document shows that of the total allocation, Rs 60 lakh has been allocated for the salary and allowances of the president, which remained unchanged from the last budget. The amount allocated under the head 'president's secretariat' provides for the establishment and allied expenses with respect to it which includ

Interim Budget 2024 focuses on $5 trillion economy target: Assocham

The interim budget focuses on the government's objective of making India a USD 5 trillion economy and a developed nation by 2047, Assocham President Ajay Singh said on Thursday. Finance Minister Nirmala Sitharaman presented her sixth Budget on Thursday in which she announced a Rs 11.11 lakh crore spending on infrastructure among other proposals. "It is an India-first budget. A confident budget of a confident government that focuses on the objective of ensuring that India becomes a 5 trillion-dollar economy by 2025 and a developed nation by 2047," Singh told PTI in a post-budget interaction. Speaking further, he said the government has focused on infrastructure, startups, and rail corridors in the Budget. The Finance Minister also announced a Rs 1 lakh crore fund for research and development and the startup sector which is a very significant move. There is no question that the Budget will have a significant impact on the common man, Singh, who is also the CMD of airline company ...

Sports ministry's Budget allocation up by Rs 45 crore at Rs 3,442 crore

The Sports Ministry was on Thursday allocated Rs 3,442.32 crore, a hike of Rs 45.36 crore as compared to last year, in the interim Union Budget presented by Finance Minister Nirmala Sitharaman. In the previous budget, the Sports Ministry had got a revised allocation of Rs 3,396.96 crore. The Olympic Games in Paris, to be held from July 26 to August 11, will be the country's main focus during the 2024-25 financial year. The ministry's flagship programme, Khelo India, was allotted Rs 900 crore, an increase of Rs 20 crore from the previous budget. The Sports Authority of India (SAI), which organises national camps, provides infrastructure and equipment to athletes, appoints coaches among others, saw Rs 26.83 crore increase in its budgetary allocation from the previous year's revised expenditure of Rs 795.77 crore. The National Sports Federations (NSFs) will receive Rs 15 crore more this time, as compared to the 2023-24 revised budget of Rs 325 crore. The National Anti-Doping Agency

Interim Budget 2024 unveils growth path with fiscal prudence: Economists

Finance Minister Nirmala Sitharaman announces fiscal measures aiming at sustainable growth and fiscal consolidation, drawing positive reactions from economists

Census, NPR unlikely in 2024 too as only Rs 1,277 cr allocated in budget

The interim budget 2024-24 on Thursday allocated Rs 1,277.80 crore for census, a significant reduction from 2021-22 when Rs 3,768 crore was allocated and an indication that the exercise may not be carried out even after three years of delay. A meeting of the Union cabinet on December 24, 2019 had approved the proposal for conducting census of India 2021 at a cost of Rs 8,754.23 crore and updating the National Population Register (NPR) at a cost of Rs 3,941.35 crore. The house listing phase of the census and the exercise to update the NPR were scheduled to be carried out across the country from April 1 to September 30, 2020 but postponed due to the COVID-19 outbreak. The census operation continues to be on hold and the government has not yet announced the new schedule. Officials said since general elections are due this year, the census is unlikely to be carried out in 2024. According to the interim budget, Rs 1277.80 crore has been allocated for census surveys and statistics (Rs .

On path to achieving fiscal deficit target of 4.5% by FY26: FM Sitharaman

Interim Budget: Revenue Secretary Sanjay Malhotra said that the removal of tax old tax disputes is likely to cost the Centre around Rs 3,500 crore

Budget 2024: What did FM Sitharaman say on education, Skill India Mission

The Centre proposes opening of new medical colleges and upgrade Anganwadi centres in the Interim Budget 2024

Budget: Rs 1,249 cr for salaries of union ministers, guest entertainment

The interim budget 2024-25 on Thursday allocated Rs 1,248.91 for the expenses incurred by the council of ministers, cabinet secretariat, prime minister's office, and on hospitality and entertainment of State guests. The allocated amount is substantially lower than Rs 1803.01 crore earmarked in 2023-24. A total of Rs 832.81 crore has been given for the expenses of council of ministers (Rs 1289.28 crore in 2023-24). The provision is for expenditure on salaries, sumptuary and other allowances and travel by cabinet ministers, ministers of state and ex-prime ministers. This also includes provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 200 crore (Rs 299.30 crore in 2023-24). The provision is for meeting the administrative expenses and space programme of the National Security Council Secretariat. As much as Rs 76.20 crore has been given to the office of principal scientific advisor (Rs 75 crore in 2023-24).

Interim Budget evokes mixed response from Indian business community in Gulf

India's interim Budget for 2024-25 received mixed reactions from the Indian business community in the Gulf with some hailing it as forward-looking and a vision statement for the journey from developing to a developed country by 2047 while others voiced disappointment over the absence of tax reliefs for individuals. Presenting a vote on account for 2024-25 in Parliament, Finance Minister Nirmala Sitharaman proposed no changes in income tax rates for individuals and corporations, as well as customs duty. She hiked capital expenditure to Rs 11.11 lakh crore for 2024-25 while trimming the fiscal deficit for this financial year to 5.8 per cent, from the budgeted 5.9 per cent of GDP, and further lowering to 5.1 per cent in the next fiscal. In the interim Budget 2024, there is a need to enhance digitalisation of tax return filing-linked procedures such as changing residency status, assessments and even alternative tax return verification systems linked to NRIs," said Deepak Bhatia, Managin

FM delivers a prudent, pragmatic and progressive budget, says Sundeep Sikka

From an equity market perspective, some of the positives appear to be considered in valuations and therefore return expectations from near term perspective should be moderate

No adverse policy changes in the interim budget was a boon: Rahul Arora

The focus on fiscal consolidation led by moderation in government capex aims to reduce the risk of the government crowding out the private sector

Budget 2024: External affairs ministry gets allocation of Rs 22,154 crore

The Ministry of External Affairs (MEA) was on Thursday allocated a total of Rs 22,154 crore for the fiscal 2024-25 in the Union Budget as against last year's outlay of Rs 18,050 crore. In line with India's 'Neighbourhood First' policy, the largest share of aid portfolio has been granted to Bhutan with an allocation of Rs 2,068 crore. The development outlay for the Himalayan nation in 2023-24 was Rs 2,400 crore. The allocation for Chabahar Port has also been maintained at Rs 100 crore, underlining India's focus on connectivity projects with Iran. The development assistance to the Maldives has been kept at Rs 600 crore as against last year's Rs 770 crore, according to budget papers. In continuation with India's special relationship with the people of Afghanistan, a budgetary aid of Rs 200 crore has been set aside for that country. An amount of Rs 120 crore will be provided to Bangladesh under development aid while Nepal would be provided Rs 700 crore. According to the budget docum

Budget 2024: Here's how political leaders reacted to the Interim Budget

Union Finance Minister Nirmala Sitharaman presented the Interim Union Budget 2024 today, following which reactions from various political parties have come in

ITDC zooms 20% as govt spells support for states to develop tourist centres

The Centre will provide long-term interest free loans to states to encourage the development of tourist centers, the FM said

Defence Budget 2024: Rs 6.21 trn allocated, ambitious tech scheme announced

In the capital outlay for defence services, Rs 40,777 crore has been set aside for aircraft and aero engines while an amount of Rs 62,343 crore was allocated for "other equipment"

Budget 2024: Where does the Centre receive money from, where does it go?

Interim Budget: It always interests the common man to know where the government gets its money from and where it spends it, here's what the Budget document says

Strong emphasis on fiscal consolidation and public investment: Sujan Hajra

Given the robust tax buoyancy seen in recent years and the govt's modest expenditure plans, it is conceivable that the actual fiscal outcomes next year may surpass the budget's projections

Women empowerment via entrepreneurship gained momentum in 10 years: FM

The empowerment of women through entrepreneurship and ease of living has gained momentum in the last 10 years, Finance Minister Nirmala Sitharaman said on Thursday while highlighting that female enrolment in higher education has gone up by 28 per cent in the period. Presenting the interim Budget 2024-25, she said 30 crore Mudra Yojana loans have been given to women entrepreneurs. "Female enrolment in higher education has gone up by 28 per cent in 10 years. In STEM (science, technology, engineering, mathematics) courses, girls and women constitute 43 per cent of enrolment - one of the highest in the world," the minister said. The "empowerment of women through entrepreneurship, ease of living, and dignity for them has gained momentum in these ten years", the minister said, adding that all these measures are getting reflected in the increasing participation of women in the workforce. "Making triple talaq illegal, reservation of one-third seats for women in the Lok Sabha and state ...

Govt targeting to help 30 mn women become 'Lakhpati Didis': FM Sitharaman

Prime Minister Narendra Modi last year launched the 'Lakhpati didi Yojana', which seeks to give training to women associated with self-help groups

Budget 2024: Here's what FM Nirmala Sitharaman said about income tax

Interim Budget: FM Sitharaman said that the average processing time of returns has been reduced from 93 days in the year 2013-14 to 10 days this year