Page 21 - Budget

Budget 2024 LIVE: Tax benefits, support to women among expectations

Union Budget 2024 Live Updates: Catch all the latest developments on the Interim Budget 2024 here

Kashmiri Pandits urge Centre to increase relief, jobs in Budget session

The displaced Kashmiri Pandits on Friday urged the Centre to increase their monthly relief amount and allocate a new employment package featuring 5,000 jobs in the Kashmir Valley during the upcoming Budget session. A Kashmiri Pandit family, lacking any government employee as its member, currently receives "meagre" Rs 13,000 per month for sustenance without any enhancement during the last one decade. The families with government employees, however, do not receive such relief. "I request the central government to keep a separate amount for the Kashmiri Pandit community in the forthcoming Budget. I will press for implementation of two things and will urge the Finance Ministry and Lieutenant Governor Manoj Sinha ji. There should be enhancement of relief amount to the community as early as possible in this Budget session," Head of Kashmiri Pandit Volunteers (KPV) Vikram Kaul told PTI. Expressing optimism, he hoped that the BJP government, despite a perceived lack of significant initiativ

Budget expectations: Income tax benefits, support to women entrepreneurs

An increase in income tax exemption limits, support to women entrepreneurs, a long-term taxation policy and steps to boost consumption and savings are among the expectations of experts from the interim budget which will be presented by Union Finance Minister Nirmala Sitharaman on February 1 ahead of Lok Sabha elections. They also demand for parity in taxation among companies, partnerships and limited liability partnerships. "This is going to be an interim budget but at least there may be some indications of full-budget benefits. There may be some concession to be offered to individual taxpayers under section 87A under which the overall tax exemption limit may be increased to Rs 8 lakh from now Rs 7 lakh, inclusive of rebates," All India Federation of Tax Practitioners national president Narayan Jain said. Bharat Chamber of Commerce president N G Khaitan said there is a need for a long-term taxation policy and parity in taxation among companies, partnerships and limited liability ...

Interim Budget 2024: T V Somanathan to Ajay Seth, meet the FM's crack squad

Sitharaman is backed by a strong team of bureaucrats and economists, who will chart the future strategy in the upcoming Budget

Interim Budget: Come Feb 1, industry bodies stand behind capex boost

Earlier, the Finance Act 2021 had extended the sunset date under the concessional tax regime of Section 115 BAB by only one year to 31 March 2024

Govt halves Budget support to oil firms, defers filling strategic reserves

The finance ministry in a post on X detailing the outcome of the budget announcements, informed about the halving of equity support and deferring of filling strategic reserves

Interim Budget 2024: What does the education sector expect from Centre?

Interim budget 2024: Here's what the experts of the education sector expect from the Centre

Interim Budget 2024: What does the healthcare sector expect from Centre?

Interim budget 2024: Here's what the experts of the real estate sector expect from the Centre

Interim Budget 2024: What does the real estate sector expect from Centre?

Interim budget 2024: Here's what the experts of the real estate sector expect from the Centre

Budget 2024 LIVE: India Inc awaits FM's Budget for growth boosting measures

Union Budget 2024 Live Updates: The Interim Budget 2024 is set to be presented on February 1. Catch all the budget-related live updates here

Interim Budget 2024: Industry seeks tax benefits, boost to exports

Indian industry, including exporters on Thursday, asked the government to provide tax incentives for research and more funds for marketing activities in the Budget to boost manufacturing and the country's outbound shipments. They also urged the government to consider developing a global shipping line in partnership with the private sector. India's outward remittance on transport services is increasing with rising exports. "We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030," Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines. This will also reduce arm-twisting by foreign shipping lines, particularly of our MSMEs, the organisation said. For promoting Research and Development (R&D) in the country, weighted tax deduction can be increased to 200 per cent, it said. "Unfortunately, India's ...

Govt bond yields decline, end flattish for week with eyes on budget 2024

The benchmark 10-year yield ended at 7.1760%, following its previous close at 7.1835%. Indian markets are shut on Friday for a holiday

Budget 2024: Key announcements made in previous interim budget in 2019

Interim budget 2024: While interim budgets are said to have no major policy changes, let us take a look at some key announcements Piyush Goyal made in Interim Budget 2019

Budget 2024: FM Sitharaman takes part in 'halwa ceremony'; what is it?

Budget 2024 date and time: Budget 2024, which will be an Interim Budget, will be presented in the Parliament on February 1 at 11 am

FM takes part in 'halwa' ceremony; marks final stage of interim Budget prep

Finance Minister Nirmala Sitharaman on Wednesday participated in a traditional 'halwa' ceremony, marking the final stage for preparation of the Interim Budget 2024 to be unveiled on February 1 in the Lok Sabha. The ceremony is an annual ritual in which the traditional dessert 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the Budget. It is organised every year in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials. A customary Halwa ceremony is performed every year before the 'lock-in' process of Budget preparation begins, an official statement said. As part of the ceremony, the finance minister also took a round of the Budget Press and reviewed the preparations besides extending her best wishes to the officials concerned. Like the previous three full Union Budgets, Interim Union Budget 2024 will also be .

Govt may increase agri-credit target to Rs 22-25 trn in interim Budget

The government is likely to announce in the upcoming interim Budget a substantial increase in the agricultural credit target to Rs 22-25 lakh crore for the next fiscal and ensure every eligible farmer has access to institutional credit, according to sources. The government's agri-credit target is Rs 20 lakh crore for the current fiscal. Currently, the government provides interest subvention of two per cent on short term agri-loans of up to Rs 3 lakh for all financial institutions. This means farmers are getting a farm loan of up to Rs 3 lakh at a concessional rate of 7 per cent per annum. An additional interest subvention of 3 per cent per annum is also being provided to farmers who repay on time. Farmers can also avail long term loans but interest rate is as per the market rate. For the 2024-25 fiscal, there could be a sharp increase in the agri-credit target to Rs 22-25 lakh crore, sources said. According to the sources, there is more focus on agri-credit and the government is .

Increase import duty on paper, paperboards to 25% in Budget: Industry body

Domestic paper and paperboard manufacturers have demanded a hike in import duty to 25 per cent on paper products and the imposition of a quality control order in the upcoming Budget to discourage cheap inward shipments. The Indian Paper Manufacturers Association (IPMA), in a statement on Monday, said that in its pre-budget submissions to the government, it has urged for increasing the basic customs duty on the import of paper and paperboard from 10 per cent to 25 per cent as India's WTO Bound rate is 40 per cent on these products. The association has also asked for the issuance of quality control orders (QCOs) for different grades of paper to ensure the supply of quality products to Indian consumers and check the import of sub-standard products into the country. IPMA President Pawan Agarwal urged the government to keep paper and paperboard on the negative list while reviewing the existing FTAs (ASEAN, South Korea and Japan) and formulating new ones. He mentioned that any increase i

Budget 2024: Centre may increase FY25 capex target for CPSEs by 12-13%

The government aims to propel economic growth with a higher capital expenditure target for central public sector enterprises (CPSEs) in the upcoming financial year

Interim Budget 2024-25: Govt may target 5.3% fiscal deficit for FY25

Of the 10 research reports by forecasting agencies that Business Standard analysed, eight expect a fiscal deficit at 5.3 per cent of the GDP for FY25, while two agencies have pegged it at 5.4 per cent

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