Page 5 - Budget

Maha's pre-Budget welfare schemes unlikely to dent state finances: ICRA

The spate of welfare schemes and guarantees announced by the Eknath Shinde-led Maharashtra government is unlikely to dent the state's financial position, a domestic rating agency said. Icra Ratings' chief economist Aditi Nayar also expects that there will not be a "runaway increase" in spending even though the "rhetoric may be very high". She explained that Maharashtra fares well on the state debt front, and the leverage levels are among the lowest in the country. Concerns have been raised in the recent past over schemes like the Rs 46,000-crore Ladki Bahin Yojana of providing cash handouts to women or the decision to discontinue tolls for cars while entering or exiting the financial capital. The rating agency's assistant vice president Neetika Shridhar said Maharashtra has a sizeable amount of fiscal space because it has not been doing a lot of welfare spending in the last few years, which can limit the sacrifices that it may have to make to accommodate the financial pressure comi

States cut spending by 6%: Is public capex at risk of major slowdown?

Capital expenditures across 18 states declined by 6% year-on-year between April and August in FY25, totalling Rs 1.67 trillion, down from Rs 1.78 trillion during the same period the previous year

First Budget won't undermine growth goal, says UK PM Keir Starmer

Unfunded commitments for spending are just as bad (as unfunded tax cuts) and likely to have the same impact on the economy.

Centre has made three-fold increase in budget for northeast: Kamlesh Paswan

Union Minister Kamlesh Paswan on Thursday said that the Centre has made a three-fold increase in the budget for the northeastern states to help the region catch up with the development in other parts of the country. Paswan, the minister of state for rural development, participated in the Solung festival at Ruksin in East Siang district of Arunachal Pradesh and said the central government is committed to fast-track development projects in the northeastern states. "Visible changes are taking place in areas of power, education, healthcare, agriculture, tourism, road and air connectivity, infrastructure, etc. We must make efforts to take central and state-sponsored schemes to poor people and deliver services to them, Paswan said. The minister also said Arunachal Pradesh is a special place for him and joining the festival has allowed him to experience the rich culture and traditions of the Adi community. Paswan urged the people to share their unique culture through the promotion of ...

India remains committed to reducing budget deficit over medium term: Fitch

India remains committed to reducing the budget deficit over the medium term, despite its focus on higher public capex and demands of the coalition government, Fitch Ratings said on Tuesday. In a report, it said India has achieved or outperformed its budget deficit targets in the last few years, thereby improving its fiscal credibility. Fitch said India using RBI dividend to lower its fiscal deficit target for the fiscal year ending March 2025, reinforces its view that the country prefers fiscal consolidation over additional spending. Still, India's deficit, and interest-to-revenue and debt ratios remain high compared with the 'BBB' category sovereign peers, Fitch said. "...we believe its (India) government remains committed to reducing the budget deficit over the medium term, even amid the demands that governing in the coalition will impose on the newly elected administration - and despite the government's sustained focus on supporting economic growth through higher public capex,"

Supplementary Budget of over Rs 5,000 cr tabled in Uttarakhand Assembly

The first supplementary budget of Rs 5,013.05 crore for the ongoing fiscal was tabled on Thursday in the Uttarakhand Assembly here, making substantial provisions for public welfare projects. "Our government is dedicated to public welfare. In the main annual budget, we brought several important projects. In this supplementary budget also, we have made significant provisions for public welfare projects, state finance minister Premchand Aggrawal said while presenting it in the house on the second day of its ongoing monsoon session. The size of the supplementary budget is Rs 5,013.05 crore, which includes a revenue expenditure of Rs 3,756.89 crore and a capital expenditure of Rs 1,256.16 crore. It makes a provision of Rs 1,804.82 crore for resource-related projects, out of which Rs 1,531.65 crore are meant for centrally aided and Rs 273.17 crore for externally aided projects, he said. A provision of Rs 718.40 crore has been made in the budget for the State Disaster Response Force, he .

Budget's inclusive urban development plan could not have been more timely

The economic growth that we envisage for becoming a high-income country cannot be achieved if our cities are not planned in a way to reach their maximum potential

Will stop 'bahu, behan' yojana if dues not paid: SC pulls up Maha govt

The Supreme Court bench said that it will stop freebies offered by the Maharashtra government if the state fails to pay up the due compensation by August 28

Purvodaya for eastern revival

The Budget's plan for eastern India's growth is crucial, but this isn't going to be a sprint-it's a marathon

RBI MPC highlights: Deposit-credit divergence could lead to liquidity management issue, says Das

RBI Monetary Policy Meeting 2024: Catch all the latest highlights on RBI's monetary policy announcements here

After 'derailment min' jibe, Vaishnaw says focus is on railways, not reels

Ashwini Vaishnaw's strong response came after Congress MP Gaurav Gogoi criticised him for not taking moral responsibility for train accidents and called him the 'derailment minister'

As Assembly polls loom in 4 states, PM faces middle class' ire over Budget

Regional votes are also important because they determine a party or alliance's strength in the upper house of parliament

Govt considers reintroducing 15% concessional corporate tax in FY26 Budget

The Centre has set up an internal committee to evaluate the benefits of the 15% concessional tax rate scheme for new domestic manufacturing units, introduced in FY20

Budget 2024: Fiscal marksmanship on display; over to implementation

On the personal income tax front, the Budget brought in some modest tweaks, which should support sentiment and consumption for salaried individuals

FM Nirmala Sitharaman's Budget 2024 for growth, continuity, and steadiness

In the same way, the various measures aimed at supporting micro, small and medium-sized enterprises will provide the much needed support to local suppliers and subcontractors across the country

News updates: UK foreign secy Lammy to begin 2-day visit to India on Wednesday

Latest news updates: Catch all the latest news developments from around the world here

Union Budget 2024 | Understanding the fine print

Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament today. The Finance Minister announced key measures for various sectors. Here in this video we present you the detailed anal

Union Budget 24: What's cheaper and what's costlier? Check full list

In the Union Budget for FY25, Finance Minister Nirmala Sitharaman announced several changes impacting the prices of various items. Read on to find out what they are

What's behind the Centre's big love for Ladakh in Union Budget 2024?

The government's increased budget allocations for Ladakh and additional allocations for various central expenditures have focused on the overall development of the region over the years

A progressive and forward-looking Budget, says artist Paresh Maity

This Budget provides a roadmap for enhancing the support for women so that they are able to play a greater role in the development of the economy, said Paresh Maity