Page 4 - Budget

45 mn VVPAT slips counted, not a single discrepancy found: CEC Kumar

The Election Commission will write to the cabinet secretary, informing that no Delhi-specific provision can be made in the Union Budget that can disturb the level-playing field, CEC Rajiv Kumar said on Tuesday. Polling for the 70-member Delhi Assmebly will be held on February 5 and the votes counted on February 8, Chief Election Commissioner (CEC) Kumar announced. Responding to a query about the the Union Budget, scheduled days ahead of the polls, Kumar said, "We will write to the cabinet secretary that no Delhi-specific provision can be made in the Union Budget that can disturb the level-playing field." The last date to file nominations is January 17 and the scrutiny of nominations will be done by January 18. Candidates will be able to withdraw their nominations till January 20. Bypolls to two assembly constituencies -- Milkipur in Uttar Pradesh and Erode in Tamil Nadu -- will also be held according to the same schedule.

Industry leaders seek affordable housing, duty relief at pre-Budget meet

The housing and infrastructure sectors were represented by leaders such as Hiranandani Group, Afcons, L&T, and GMR Group

Jobs, growth, demand in focus as FinMin concludes pre-Budget talks

The Union Budget for FY 2025-26 assumes significance as it comes on the back of lower than expected growth numbers in the second quarter and geopolitical uncertainty

Union Budget 2025: Apparel exporters seek tax incentives to boost shipments

Apparel exporters body AEPC on Saturday urged the government to announce tax incentives, including removal of a provision requiring payments to MSMEs within 45 days to claim deductions and customs duty exemption on garment machinery imports. The Apparel Export Promotion Council (AEPC) has also requested that an interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1 by Finance Minister Nirmala Sitharaman. Other demands include extension of concessional tax rate for new manufacturing units to encourage setting up of new garment units; simplification in the procedure of imports of trims and embellishments under IGCR (Import of Goods at Concessional Rate); and liberalizing e-commerce export procedures. "Ready Made Garments (RMG) industry has also demanded removal of Sec43B (H) of IT Act in the ensuing Budget which pertains to payment to any MSME companies within a maximum 45 days' time to claim any deduction in tax. This has increase

Budget 2025-26 must prioritise defence and security over welfare schemes

India's growing external and internal threats demand urgent shifts in fiscal focus to strengthen defence, policing, and cyber capabilities

India's housing market in de-growth phase, pins hopes on upcoming Budget

New home sales in India declined for the first time since the pandemic, as a sharp rise in housing prices and elevated borrowing costs ruined buyers' appetite in 2024 and the real estate industry is now eyeing the upcoming Budget for favourable economic conditions -- a key to reviving demand conditions. The de-growth in the Indian housing market came after three straight years of stellar growth, following the COVID-era downturn, and was attributed in part to a high base in the previous year, a fall in supply of new homes and price appreciation. Anuj Puri, Chairman of Anarock, one of the leading housing brokerage firms in the country, termed the year 2024 as a "mixed bag" for the Indian residential market and noted that, while demand for the affordable housing segment was weak, sales and launches of luxury homes remained strong. India's residential real estate market, estimated to be valued at over USD 300 billion, faced a marginal 4 per cent drop in sales volumes during 2024, ...

Philippines' Marcos signs into law record $109 billion budget for 2025

The spending is higher than a projection of 6.18 trillion pesos announced earlier this month, when revenue was forecast at 4.64 trillion pesos and the budget deficit at 5.3 per cent of GDP

Japan to unveil record $735 bn budget with ramped-up defence spending

The increase from the current fiscal year's initial annual budget of ¥112.6 trillion is around 2.6 per cent, largely in line with the government's forecast for overall inflation in this fiscal year

NATHEALTH asks govt to address gaps in healthcare in upcoming Budget

Healthcare industry body NATHEALTH has asked the government to address systemic gaps such as acute shortage of medical specialists, escalating cancer care costs, and inadequate hospital infrastructure to meet the demands of a growing population in the upcoming union Budget. In its pre-Budget recommendations, NATHEALTH sought increasing budgetary allocations of the healthcare sector to over 2.5 per cent of GDP and asked Finance Minister Nirmala Sitharaman to address the growing burden of communicable and non-communicable diseases, compounded by long standing challenges. "The upcoming Union Budget offers an unprecedented chance to address systemic gaps such as the acute shortage of medical specialists, escalating cancer care costs, and inadequate hospital infrastructure to meet the demands of a growing population," NATHEALTH President Abhay Soi said in a statement. Soi, who is also the Chairman & Managing Director of Max Healthcare Institute Ltd, further said, "Expanding hospital ...

New French government looks to fix 2025 budget while avoiding collapse

French President Emmanuel Macron's office announced a new government Monday, after the previous Cabinet collapsed in a historic vote prompted by fighting over the country's budget. The government, put together by newly named Prime Minister Francois Bayrou, includes members of the outgoing conservative-dominated team and new figures from centrist or left-leaning backgrounds. Coming up with a 2025 budget will be the most urgent order of business. The new government enters office after months of political deadlock and crisis and pressure from financial markets to reduce France's colossal debt. Macron has vowed to remain in office until his term ends in 2027, but has struggled to govern since snap elections in the summer left no single party with a majority in the National Assembly. Since his appointment 10 days ago, Bayrou has held talks with political leaders from various parties in search of the right balance for the new government. Some critics on Monday were angry at Bayrou for ..

Growth slowdown, fiscal dilemma complicate India's Budget preparation

The Ministry pointed out that revenue receipts in the first half of the year, at almost 52 per cent of Budget Estimates, were above the five-year rolling average

Funds devolved to states under 15th Finance Commission higher: FM

Funds devolved to states under the 15th Finance Commission (2021-2024) is more than what was devolved under the 14th Finance Commission (2015-20), finance minister Nirmala Sitharaman said on Friday. In a pre-budget meeting with states, Sitharaman remarked that because of healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the devolution has increased. "The funds devolved to the states in the last 45 months (April 2021 to December 2024) under the 15th Finance Commission is more than what was devolved in 60 months under the 14th Finance Commission (2015-20)," an official statement quoting Sitharaman said. The Union finance minister also referred to the Scheme for Special Assistance to States for Capital Investment (SASCI), which was first announced in the Union Budget 2020-21, and acknowledged that it has received a very good response from states. States have been requesting the Central government to enhance the outlay under the scheme as it is leading

Army needs adequate capital budget to ensure deterrence: Parl panel

There was a gap between budget allocations and actual spending on the Army's modernisation and infra in four of five years from FY20 to FY24, noted the Parliamentary Standing Committee on Defence

South Korea opposition party plans to pass government budget bill today

The opposition-controlled parliament last month cut 4.1 trillion won from the government's proposed 677.4 trillion won ($473 billion) budget

Union Budget 2025-26: Economists stress need for manufacturing policy

Call for reining in food inflation and raising investment in pre-Budget talks

Finance minister Sitharaman to begin pre-Budget consultation from Friday

Finance Minister Nirmala Sitharaman will start pre-Budget consultations with various stakeholders beginning Friday as part of Budget making exercise. The first meeting as part of this series will be held with eminent economists on December 6. Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector on December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament on February 1. This would be the eighth straight Budget of Sitharaman and second full budget of the Modi 3.0 government, which will give policy direction for achieving the goal of Viksit Bharat (developed India) by 2047. The pre-Budget consultations will end on December 30 with consultations with captains of Indian industry and players in the social secto

5 stunning budget-friendly honeymoon destinations in India; check list

If you want to make your honeymoon memorable, then here are some of the most stunning budget-friendly honeymoon destinations in India

French govt faces no-confidence vote over Barnier's austerity budget

French Prime Minister Michel Barnier is bracing for a no-confidence vote this week, a political reckoning almost certain to topple his fragile government and send shockwaves across the eurozone. Barnier on Monday invoked a rarely used constitutional mechanism to push through the contentious 2025 budget without parliamentary approval, arguing it was essential to maintain stability amid deep political divisions. The move immediately drew sharp backlash, with Marine Le Pen's far-right National Rally and the leftist New Popular Front both filing no-confidence motions in response, setting the stage for a vote as early as Wednesday that could see Barnier's ouster. The looming showdown unfolds against the backdrop of a fractured National Assembly, left in disarray after June's snap elections delivered no clear majority. President Emmanuel Macron had turned to Barnier in September to navigate the impasse and address France's soaring deficit. Yet Barnier's proposed austerity budget slashin

With four months left in FY25, Andhra govt to table Budget on Monday

The Andhra Pradesh government is expected to present the state budget on Monday, during the assembly session starting tomorrow, according to official sources. The budget is expected to be presented with just over four months remaining in the FY 2024-25. The TDP-led NDA government had previously promulgated an ordinance approving a Vote-on-Account budget of Rs 1.3 lakh crore for the period from August to November. Earlier, the previous YS Jagan Mohan Reddy-led YSRCP government had presented a Vote-on-Account budget in February covering April to July, ahead of the state polls. As a result, two Vote-on-Account budgets have accounted for the majority of this financial yeareight months in total. According to the August 1 ordinance by the TDP-led government, the state opted for another Vote-on-Account budget for four months (August to November) due to the new NDA government taking office. The other constituents of the coalition government are Janasena and the BJP. Meanwhile, the Financ

UK Treasury chief Reeves unveils budget with 40 billion pounds in tax hikes

British Treasury chief Rachel Reeves is announcing 40 billion pounds in tax hikes in her first budget, saying she will use the money to invest, invest, invest and get the economy growing. Reeves is delivering the first budget from the UK's Labour Party government since it took power in July. She says the tax increases are needed because of the economic black hole left by the previous Conservative government. She told lawmakers, I am restoring stability to our public finances and rebuilding our public services. The centre-left party was elected July 4 after promising to banish years of turmoil and scandal under Conservative governments, get Britain's economy growing and restore frayed public services.