Page 25 - Finance Minister

Claims Centre not releasing funds 'politically-vitiated narrative': FM

Union Finance Minister Nirmala Sitharaman on Monday came down heavily on allegations that the Centre is withholding funds meant for non-BJP governed states, saying it is a "politically-vitiated narrative" that "vested interests" are happy to go about saying. Replying to a question by Congress leader Adhir Ranjan Chowdhury in the Lok Sabha on the Karnataka government's claim that the Centre is not releasing funds due to it, Sitharaman said such a situation cannot happen as the "system is well placed" and the central government works according to recommendations of the Finance Commission. "This apprehension that some states are being discriminated against is a politically-vitiated narrative which, I am sorry to say, vested interests are happy to go about saying," she said during Question Hour. Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations. "This is just not a possibility that any finance minister can intervene to say that 'I do

Govt seeks LS approval for net additional spending of Rs 78,673 cr in FY25

The government on Monday sought Lok Sabha's approval for a net additional spending of Rs 78,673 crore in the current financial year. The second batch of supplementary demands for grants for 2023-24 fiscal was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman. The supplementary demands for grants includes a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore. The proposal involves net cash outgo aggregating to Rs 78,672.92 crore, said the document tabled in the Lok Sabha.

Interim Budget indicates the way forward

On the external sector, the Finance Minister said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts

Qualitative improvement

Higher capex will improve growth prospects

Interim Budget 2024-25: Striking a middle path

Such prudence also seems to have influenced the Finance Minister's fiscal consolidation efforts

LIVE: Budget will fuel progress, empower people, says Shree Cement MD

Union Budget 2024 Live Updates: Catch all the latest updates here

Interim Budget 2024-25: Strong foundation towards 'Viksit Bharat'

The cornerstone of this Budget is a commitment to foster global competitiveness among Indian enterprises, attract foreign investments, and bolster startups and innovation-driven ecosystems

5.6 mn updated ITRs filed, Rs 4,600 cr taxes mopped up in 2 yrs: CBDT

The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore. "We are continuously improving the services and creating litigation free environment. We have come out with a facility for updation of return. 56 lakh updated returns updated and garnered around Rs 4,600 crore taxes from that," Gupta said. The Interim Budget 2024-25 has announced withdrawal of outstanding small tax demands, some even dating back to 1962, of up to Rs 25,000 till 2014-15 in respect of income, wealth and gift taxes. There are about 1.11 crore such disputed demand entries and the aggregate tax demand involved is Rs 3,500-3,600 crore. Gupta said the move would ..

Decadal perspective: Modi govt has pushed the pedal on growth, technology

Focus on technology and encouraging research and development to fuel innovation

USIBC President hails India as a 'pillar of stability' in uncertain world

He underscored the mutual recognition that both the United States and India are leading global job creation and prosperity

FM Sitharaman's interim Budget extends tax benefits in IFSC till March 2025

Proposal will give 'some breather' business set up in GIFT city, she says

Ready reckoner: FM Sitharaman's interim Budget places emphasis on growth

Our government stands committed to strengthening and expanding the economy with high growth, and to creating conditions for people to realise their aspirations, she said

Interim Budget 2024: India's economic future bright, in capable hands

While the IMF estimates the Indian economy to grow at 6.7 per cent in 2023-24, there is no other comparable economy that is growing as rapidly as India

FM Sitharaman's interim Budget tries to focus on achieving long-term growth

The key change on the expenditure side is the focus on outcomes as well as satu­ration of beneficiaries

Interim Budget 2024-25: Higher tax-to-GDP ratio needed

The Finance Minister clearly mentioned that the government will rely less on market borrowings and, thereby, facilitate more credit availability for the private sector from the banking system

Decadal perspective of Modi govt: State finances recovering from pandemic

Scheme of fifty-year interest free loan for capital expenditure to continue with total outlay of Rs 1.3 trillion

Interim Budget: Railways get 3 new corridors; 40,000 bogies to be upgraded

Proposals will lead to safety and higher travel speed for passengers, says Finance Minister

Interim Budget 2024 highlights: Capex from govt will continue, says FM

Union Budget 2024 LIVE updates: FM Sitharaman in her Interim Budget speech stated the Centre is working towards making India 'viksit' by 2047. Catch the latest updates here

Interim Budget: Equip youth for nation's progress, says FM Sitharaman

When it comes to youth, skilling has been a major focus area. The Skill India Mission has trained 14 million youth, upskilled and reskilled 5.4 million youth, shared FM Sitharaman

Governance, development, performance key themes for Budget 2024-25: FM

We're not just aligning with fiscal consolidation path but bettering it: FM