Page 21 - Union Budget

Union Budget announcements like sixer on full toss ball: PHDCCI President

Industry body PHDCCI on Saturday termed the announcements made in the Union Budget as a "sixer on a full toss ball" which will drive growth across sectors improving infrastructure and enhancing governance. In an interview to PTI, its President Hemant Jain said the key focus areas in the Budget 2025-26 included taxation, power, urban development, mining, the financial sector, and regulatory reforms, are major ingredients of development. "It's like a sixer on a full toss ball. These areas will drive growth, improve infrastructure, enhance governance, and ensure sustainable development across various sectors," said Jain, who is also the Managing Director of KLJ Industries. Union Finance Minister Nirmala Sitharaman tabled record eighth Union Budget in Lok Sabha on Saturday. The size of the Budget at Rs 47.16 lakh crore, including a capital expenditure of Rs 10.1 lakh crore, will boost the economy, he said. On the tax related announcements, Jain said it is a strong step to boost the mi

Winners, losers across sectors from Union Budget: Stock market reactions

The Indian government said people earning up to 1.28 million rupees ($14,791.53) per year will not have to pay any taxes, raising its threshold from 700,000 rupees

Govt projects dividend income of Rs 2.56 trn from RBI, PSBs in FY26

The government on Saturday projected a dividend income of Rs 2.56 lakh crore from the Reserve Bank and public sector financial institutions in FY2025-25, as per the Budget documents. In the current financial year, receipts from dividend/surplus of RBI, nationalised banks and financial institutions are estimated at Rs 2.34 lakh crore, about Rs 1,410 crore higher than the previous estimates. The documents stated that the total central government's receipts from 'dividends from public sector enterprises and other investments' would be Rs 3.25 lakh crore, up from Rs 2.89 lakh crore. In her Budget speech, Finance Minister Nirmala Sitharaman said the total receipts other than borrowings and the total expenditure are estimated at Rs 34.96 lakh crore and Rs 50.65 lakh crore, respectively. The net tax receipts are estimated at Rs 28.37 lakh crore. The Centre's fiscal deficit is estimated at 4.4 per cent of GDP during the next financial year. To finance the fiscal deficit, the net market .

Budget: Law min gets Rs 14k cr for carry forward spending on LS polls, EVMs

The Union Budget 2025-26 has allocated more than Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The legislative department in the law ministry is the nodal agency for the Election Commission (EC), polls, electoral laws and appointment of members to the poll panel. According to the Budget presented by Finance Minister Nirmala Sitharaman on Saturday, the law ministry has been allotted Rs 500 crore for Lok Sabha elections, another Rs 300 crore for identity cards for voters, and Rs 597.80 crore for "other election expenses". Separately, it has been allocated Rs 18.72 crore for the purchase of new electronic voting machines (EVMs) by the election watchdog. One control unit, at least one ballot unit and one paper trail machine make up for an EVM. Carry forward expenses have been described by law ministry officials as a "book keeping" exercise where

Budget 2025: Centre boosts Tribal ministry funding by 45%, focus on infra

The central government has increased the budget for the Union Tribal Ministry by over 45 per cent compared to the last year, allocating more funds to bridge infrastructure gaps in tribal-dominated areas across the country. For 2025-26, the ministry has been allocated Rs 14,925.81 crore, up from Rs 10,237.33 crore in 2024-25. Eklavya Model Residential Schools, which provide quality education to tribal students, will receive Rs 7,088.60 crore, up from Rs 4,748 crore last year. The budget for the Pradhan Mantri Janjatiya Vikas Mission, which ensures year-round income-generating opportunities for tribals, has been increased from Rs 152 crore to Rs 380 crore. The government has allocated Rs 335.97 crore for the Pradhan Mantri Adi Adarsh Gram Yojana (PMAAGY), compared to Rs 127.51 crore last year. Under PMAAGY, funds are provided to states and union territories with Scheduled Tribe (ST) populations to improve education, healthcare, agriculture, skill development and employment ...

Budget 2025 boosts hospitality, health, education: Chef Manish Mehrotra

Through the announcements made in this Budget, there will be some job creation but more is required, Mehrotra said

Buget 2025: Govt proposes to open up nuclear sector ahead of PM's US visit

Strict liabilities under India's Civil Liability for Nuclear Damage Act, 2010, have hampered implementation of the India-US nuclear deal that envisaged participation of US power plant makers

Union Budget 2025-26: Allocation to CBI increases to Rs 1,071 crore

The Centre has allocated Rs 1,071.05 crore to the Central Bureau of Investigation in the Union Budget 2025-26 announced by Finance Minister Nirmala Sitharaman on Saturday, a nominal increase of Rs 84.12 crore from the ongoing fiscal. The agency received Rs 951.46 crore to manage its affairs in the Budget Estimates for 2024-25, which was later revised to Rs 986.93 crore. The government has allocated Rs 1,071.05 crore to the agency for 2025-26, the Budget presented by Sitharaman said. "The provision is for establishment-related expenditure of the Central Bureau of Investigation which is entrusted with investigation and prosecution in corruption cases against public servants, private persons, firms and other cases of serious crimes," the Budget document said. This also includes provisions for various projects such as modernisation of training centres of the CBI, establishment of technical and forensic support units, comprehensive modernisation and purchase of land, and construction of

Budget 2025: Airlines see growth, accessible travel in modified UDAN scheme

Airlines on Saturday welcomed the proposal to modify UDAN scheme to provide regional air connectivity to 120 new destinations, saying the move will make air travel more accessible as well as help boost overall economic growth. Presenting the Union Budget for 2025-26, Finance Minister Nirmala Sitharaman said UDAN (Ude Desh ka Aam Naagrik) has enabled 1.5 crore middle-class people to meet their aspirations for speedier travel. SpiceJet Chairman and Managing Director Ajay Singh said the budget is forward-looking and middle class-friendly and aims to boost spending and stimulate development. "With the launch of a modified UDAN scheme that will introduce 120 new destinations and bring 4 crore additional passengers into the fold over the next decade, the aviation landscape in India is set for a transformative shift. This initiative will not only make air travel more accessible to remote regions but will also drive economic growth and tourism, further empowering local economies," he said i

Union Budget will help accelerate Bihar's growth, says Nitish Kumar

Bihar Chief Minister Nitish Kumar on Saturday lauded the Union Budget 2025-26 as one that was "positive" and would help in accelerating development of the state. Kumar, whose JD(U) is a key constituent of the ruling BJP-led NDA at the Centre, also profusely thanked Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman. In a statement, the longest-serving CM of Bihar said the proposal for setting up a "Makhana board" will give a boost to cultivation of foxnuts, for which the state is known far and wide. He also said greenfield airports proposed in the budget will go a long way in improving flight connectivity, which would give a fillip to the state's economic growth.

Budget 2025: FM Sitharaman's tax rebate decision sparks meme-fest online

Budget 2025: Stills from movies like Krrish, Welcome, and television series were being shared widely to encapsulate the sentiment of the taxpayers

Infra stocks fall on 'modest' capital spending hike in Budget 2025

(Reuters) -Indian infrastructure stocks declined in a special trading session on Saturday, with sector bellwether Larsen & Toubro leading losses as investors were disappointed by the 'modest' hike in capital spending announced in the annual budget.

Budget 2025: Govt to implement scheme to make India toy hub of world

The Union government in the FY25 Budget on Saturday announced a scheme to make India a global hub for toys by focusing on cluster development. Finance Minister Nirmala Sitharaman in her budget speech said the scheme will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the 'Made in India' brand. "Building on the National Action Plan for Toys, we will implement a scheme to make India a global hub for toys," she said. India's toy exports dropped from USD 177 million in 2021-22 to USD 152 million in 2023-24 due to overall decline in the global demand of these products. The government's steps such as mandatory quality norms and increase in customs duties have significantly helped the domestic toy players to boost manufacturing and reduce dependence on Chinese imports. The industry has long faced challenges in the global trade landscape, consistently being a net importer o

Govt to set up National Manufacturing Mission to promote Make in India

The government on Saturday announced to set up a National Manufacturing Mission to further promote Make in India initiative. The Mission's mandate will include five focus areas ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products. The scheme will cover small, medium and large industries, Finance Minister Nirmala Sitharaman said in her Budget speech. The National Manufacturing Mission, she said, will provide policy support, governance and monitoring framework for central ministries and states. "Our government will set up a National Manufacturing Mission covering small, medium and large industries for furthering Make in India," she said. She said that support will be provided to develop domestic manufacturing capacities for our economy's integration with global supply chains. Sectors will be identified based on objective criteria. "Facilitation groups with participation of se

Union Budget: Sports and youth affairs allocation raised by Rs 351 cr

The government's flagship Khelo India programme to scout and nurture athletes at the grassroots level was the biggest beneficiary as the allocation for sports and youth affairs was hiked substantially by Rs 351.98 crore in the Union Budget presented by Finance Minister Nirmala Sitharaman here on Saturday. The ambitious scheme has been allocated Rs 1,000 crore for the financial year 2025-26. This is Rs 200 crore more than the grant of Rs 800 crore in 2024-25. Overall, the Ministry for Youth Affairs and Sports was designated Rs 3,794.30 crore. The increase is substantial considering there is no major sporting event like the Olympics, Commonwealth or Asian Games lined up in the next one year. The assigned amount for assistance to National Sports Federations has also been hiked marginally from Rs 340 crore to Rs 400 crore. India is currently pushing through with an ambitious bid to host the 2036 Olympic Games for which a letter of intent has been submitted to the International Olympic

Rahul Gandhi criticises Union Budget as 'band-aid for bullet wounds'

Congress leader Rahul Gandhi on Saturday slammed the Union Budget as a "band-aid for bullet wounds," saying that the Centre was "bankrupt of ideas". He said solving the economic crisis demanded a paradigm shift. "A band-aid for bullet wounds! Amid global uncertainty, solving our economic crisis demanded a paradigm shift," Gandhi said in a post on X The Congress earlier criticised the Union Budget as bereft of cure to "illnesses" of stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, and a complicated GST system that the economy is suffering from. It also accused the Narendra Modi government of appearing to offer "bonanza" to Bihar, governed by NDA ally Nitish Kumar, and "cruelly" ignoring Andhra Pradesh, another pillar of the same alliance.

Budget 2025: Civil aviation gets Rs 2,400 cr, UDAN funds cut to Rs 540 cr

The budgetary allocation for the civil aviation ministry has been cut by nearly 10 per cent to Rs 2,400.31 crore for the next financial year, with the regional air connectivity scheme UDAN set to get a lower amount of Rs 540 crore. The allocation in the Union Budget 2025-26, presented by the Finance Minister Nirmala Sitharaman in Parliament on Saturday, is less compared to Rs 2,658.68 crore in the revised 2024-25 Budget. Out of the total allocation for the next fiscal starting from April 1, 2025, UDAN will get Rs 540 crore, which is 32 per cent lower compared to Rs 800 crore in the year-ago period. Interestingly, Sitharaman has announced that UDAN (Ude Desh ka Aam Naagrik) scheme will be modified to connect 120 new destinations. As per the budget papers, the allocation for the DGCA and BCAS have increased marginally to Rs 330 crore and Rs 95 crore, respectively, for 2025-26. For the Customs Cost Recovery (CCR) charges to Airport Authority of India (AAI) and AAI Cargo Logistics and

'Tax cuts to boost consumption', say top executives across sectors

The government's plan is estimated to help around 25-30 million personal tax payers save about 100,000 rupees annually, according to Kamal Bali, managing director of Volvo Group India

Power sector PSUs' investments to rise nearly 21% to Rs 86,138 cr in FY26

The government has proposed to increase total investment by the nine state-owned power sector firms by nearly 21 per cent to Rs 86,138.48 crore in 2025-26 compared to the previous fiscal year. According to the Budget document, the Revised Estimate (RE) of investment by these nine firms is pegged at Rs 71,278.33 crore for 2024-25 while the budgeted estimate (BE) of Rs 67,286.01 crore. State-owned power giant NTPC recorded the maximum increase in investment to Rs 26,000 crore in the next fiscal year from RE as well BE of Rs 22,700 crore in 2024-25. Similarly, the investment by Power Grid Corp will be raised to Rs 25,000 crore in the next fiscal year from the RE of Rs 20,000 crore and BE of Rs 12,250 crore in 2024-25. The investment by SJVN Ltd will be Rs 12,000 crore in FY26 as against the RE of Rs 7,000 crore this fiscal year. The amount was fixed at Rs 12,000 crore in BE for FY25. The investment by the NHPC will also go up to Rs 13,000 crore in the next fiscal year from RE of Rs .

'Tax proposals to boost market flows, consumption,' NSE MD reacts to budget

NSE's chief executive and managing director Ashish Chauhan on Saturday welcomed tax proposals in the Union budget, saying it will help increase flows into the markets. The proposal of nil tax on incomes up to Rs 12.75 lakh per annum for salaried professionals will also help consumption, the chief of the country's largest stock bourse said. "The much-expected tax relief is given to the taxpayer up to Rs 12.75 lakh per annum for a salaried person does not have to pay even a rupee as tax. I think that is a very welcome move, which will help consumption and also investment increase into markets," Chauhan told PTI. He added that as consumption increases, the profitability of companies will also increase. The NSE chief also welcomed the fiscal management proposals presented by Finance Minister Nirmala Sitharaman in the budget. He said the budget aims to give a fillip to growth by committing higher investments with a 10 per cent growth in the capital expenditure. The proposals for refor