Page 57 - Union Budget

As interim Budget nears, check differences between old and new tax regime

Interim budget 2024: In a bid to improve the direct tax system, the finance ministry had introduced a simplified optional new income tax regime in 2020-2021

Budget 2024: Govt may hike housing subsidy ahead of Lok Sabha polls

Interim Budget 2024: The govt estimates reveal a significant housing shortage of over 20 mn homes in rural areas. While the same for urban areas stands at 1.5 mn homes, according to industry experts

Budget 2024 expectations: What stance will interim Budget 2024 adopt?

Nirmala Sitharaman's recent statement that the February 1 Budget would just be a vote on account could mean that she will uphold the convention surrounding an interim Budget

86% Indian CEOs optimistic about country's economic growth: PwC survey

44% of global business leaders expressed a similar opinion about the economy in their countries or territories

Real, nominal GDP growth, inflation play out differently this time around

This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for first time, contrary to what had happened ahead of 3 previous interim Budgets

Budget 2024: Govt may raise exemption in lower bracket under old I-T regime

The measures, along with announcements to improve the direct tax system, are those which the government feels will not hurt the fiscal deficit numbers now

Union Budget 2024: Add 'Sin Tax' and these terms to your financial glossary

Union Budget 2024: The central government will present an interim budget for the new financial year on February 1 during the Budget session of the Parliament

Will interim Budget 2024 revive demand and investment?

The interim Budget 2024-25 on February 1 will likely see the central government boost investment, while still sticking to the fiscal consolidation path

Budget 2024-25: Insurers hope for tax reliefs, provisions for uncertainties

Insurers have suggested introduction of a separate tax deduction limit for life insurance, waiver of taxation on annuity and pension products

Pharma industry seeks incentives for R&D, conducive policies in Budget

The pharma industry has sought fiscal incentives to promote research and development (R&D) in the sector, as it is likely to reach USD 400-450 billion market size by 2047. In a statement, Indian Pharmaceutical Alliance Secretary General Sudarshan Jain said there is a high risk, long gestation period and low success rate in research, and therefore, there is a need for continuous investments. "The budget 2024-25 should outline conducive policies that provide benefits in terms of both direct and indirect taxes and also facilitate ease of doing business for the pharma companies," Jain noted. The interim Budget is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. Jain said the domestic pharma industry is at the cusp of change. "The Indian pharma sector aims to achieve USD 120-130 billion by 2030 and USD 400-450 billion by 2047. To achieve this vision, the Union Budget 2024-25 should accelerate the pace of innovation and R&D," he added. The announcement

Interim Budget may see measures to boost consumption demand, rural economy

Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers. Women and marginalised communities may get additional sops as part of Sitharaman's effort to boost consumption ahead of the general elections, experts said. Usually, interim Budgets, which are presented in the Lok Sabha ahead of the general elections, do not contain fresh tax proposals or new schemes. In the interim Budget, the government will seek permission from Parliament to meet its expenses for 4 months of the 2024-25 ...

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17th Lok Sabha's last Budget session from January 31 to February 9

A brief Budget session of Parliament, the last of the 17th Lok Sabha, will be held between January 31 and February 9, Parliamentary Affairs Minister Pralhad Joshi said on Friday. He said on X, "Interim Budget Session 2024, last session of Seventeenth Lok Sabha to be held from 31st January to 9th February, with the address of Hon'ble President to the Parliament. On 1st February, Hon'ble FM @nsitharaman ji will present the Interim Union Budget." The Lok Sabha and the Rajya Sabha Secretariates issued notifications regarding the commencement of the Budget Session of Parliament on Friday. The new government, which will be sworn in after the Lok Sabha polls expected in April-May, will present the full-fledged budget later. Since the term of the 17th Lok Sabha ends on June 16, it is set to be the last session of Parliament before general elections are announced. In 2019, the Lok Sabha polls were announced on March 10 and voting was held in seven phases between April 11 and May 19.

Centre may peg FY25 fiscal deficit at 5.3% in interim budget: Goldman Sachs

Interim Budget 2024: The Centre will keep a focus on increasing the capital expenditure but it will most likely be at a slower pace than earlier, says Goldman Sachs

Parliament session from January 31, FM to present Interim Budget on Feb 1

Union Minister Pralhad Joshi said that the Interim Budget session will commence with President Droupadi Murmu addressing both Houses of Parliament

Budget 2024 wishlist: Gaming industry seeks clarity on regulation, taxation

Firms expect Budget to address concerns on consumer/player protection, without stifling innovation

Health sector's Budget wishlist: Increase spending to 2.5% of GDP

Key demands include rationalising GST rates, investment in skilling professionals, building local capabilities

Net direct tax mop-up rises 19% to Rs 14.7 trillion till January 10

RE for mop-up could be higher than BE as collections cross 80% of FY24 target

Disinvestment target for FY25 likely to be pegged below Rs 50,000 cr: Icra

Interim Budget 2024: For FY24, the Centre had set a disinvestment target of Rs 51,000 crore but has only been able to meet one-fifth of it so far

Budget 2024: What is Union Budget?

Finance Minister Nirmala Sitharaman will present the interim Budget 2024 on Feb 1. Watch the video to know what Union Budget is > >