Page 30 - Budget

Red-hot defence stocks may have more legs to run, say analysts

The growth has come on the back of healthy growth in the order books of defence companies amid the government's focus on indigenisation and surge in exports

Top Headlines: Run-up to Budget 2023-24, India Inc's Q2 earnings, and more

The July-September quarter (second quarter, or Q2) of 2022-23 (FY23) could mark the end of the period of an unprecedented rise in India Inc's earnings in the aftermath of the pandemic

Run-up to Budget 2023-24: Centre looks to cut non-priority expenditure

Direct and indirect tax revenues may not be enough to offset food and fertiliser subsidies

Direct tax mop-up rises 24% YoY to Rs 8.98 trillion in FY23 so far

Refunds amounting to Rs 1.53 lakh crore have been issued between April 1-october 8, an increase of 81 per cent over the corresponding period last year

UK needs to cut 200,000 govt jobs over next few years to avoid debt spiral

Public-sector wages are on track to increase 5% this year, around half the current rate of inflation but higher than budgeted when spending plans were drawn up in 2021.

Govt likely to save around Rs 80k crore in FY23 from unused budgeted funds

The government will be saving more than two per cent on the Rs 39.4 trillion budget

India's April-August fiscal deficit recorded at 32.6% of FY23 target

Sabnavis said the progress till August shows that the government's accounts are on course compared with last year

Rajasthan govt approves financial assistance of Rs 100 crore for MSMEs

This scheme was announced in the state Budget 2022-23 to promote micro, small, and medium enterprises (MSMEs), and give loans on easy terms for small businesses and investors

UK PM Liz Truss defends decisive action of mini-budget amid market turmoil

British Prime Minister Liz Truss on Thursday defended her government's controversial mini-budget which has triggered widespread economic turmoil and insisted that it was the decisive action needed for long-term growth. In her first round of interviews with local BBC radio stations around the country since the tax-cutting and high government, borrowing measures were tabled by Chancellor Kwasi Kwarteng in the House of Commons last week, the recently elected leader insisted "controversial and difficult decisions" needed to be taken to improve the situation in the UK. Truss was keen to keep the focus on the largely welcome action taken to freeze fuel bills for households and businesses amid spiralling global energy costs in the wake of the Russia-Ukraine conflict. "We had to take decisive action to help people through this winter and next winter, said Truss. I understand that families are struggling with their fuel bills and we had to take urgent action to get our economy growing and g

Central government to begin Budget 2023-24 preparations from October 10

Budget 2023-24 will be the fifth budget of the Modi government. It will be FM Sitharaman's last Budget before the 2024 General Elections

Finance Ministry to kick-start budgetary exercise from October 10

The finance ministry will kick-start the exercise to prepare the annual budget for 2023-24 from October 10 in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, boosting demand, job creation and putting the economy on a sustained 8 per cent-plus growth path. Earlier in the day, the finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth. "Some of course are red-lettered (priorities), some may not be. Red-lettered ones would of course be jobs, equitable wealth distribution and making sure India is moving on the path of growth. "In that sense inflation is not red-lettered. I hope it doesn't surprise many of you. We have shown that in the past couple of months that we were able to bring it to a manageable level," she said. It will be the fifth budget of the Modi

India will not miss estimated 11.1% FY23 nominal GDP growth: Bibek Debroy

Says country will the milestone assumed in the Budget despite the tense geopolitical situation

Sri Lankan President to present interim budget with major relief measures

A comprehensive budget is also planned to be presented for the year 2023 in November

Don't burden utilities, pay for freebies from budget: Sitharaman to parties

Union Finance Minister Nirmala Sitharaman on Friday said political parties that come to power on pre-poll promises of freebies should pay for those through budgetary provisions. Citing the example of free electricity being promised in many states, the finance minister said the burden for the freebies should not be thrust upon the power discoms or gencos. "If a promise has been made to the people at the time of the election, you are looking at a quid pro quo. You should be, as a responsible party, assume after you come to power, make a provision in the budget for it," Sitharaman said, speaking at the FE Best Bank Awards event here. She said in the case of the power sector, there have been cases where states have paid the utilities in parts or not paid at all. "You end up shifting the burden to the discom which has not gone to the election. The discom has not asked for votes. Why should they be burdened? Do they have the power to stop continuing the supply? And similarly the gencos,"

Centre reins in its debt at 56% for FY22 against 60% pegged in Budget

Government committed to its fiscal deficit targets, says senior civil servant

Punjab power subsidy at multi-year high, other sops in focus in new budget

Punjab's new budget promises sops that may delay the state's date with fiscal prudence

Agnipath scheme: A burgeoning pension bill is the govt's big headache

Pension is growing faster than the salaries of state employees, accounted for a third of revenue expenditure by armed forces in 2013-14 and 2020-21

China budget deficit hits record high amid tax rebates, Covid pain

The drop in revenue just as more spending is needed will force local authorities to either boost their already heavy debt burden or accept weaker economic growth

Pakistan's Punjab gets huge share of 51.74% in budgetary distribution

Sindh's share was 24.55 per cent. 14.62 per cent and 9.09 per cent share would be distributed to Khyber Pakhtunkhwa and Balochistan respectively, The Express Tribune reported.

Two records and a turn

The finance minister's ability to effect a steady rise in capex is more significant than her two records on deficit management