Page 62 - Union Budget

Frostbite amid funding winter for start-ups: Experts rue angel tax

Industry watchers believe that early-stage start-ups will bear most of the brunt, as the segment witnesses comparatively higher deviation in allotted share prices and FMV

Union Budget 2023-24 on expected lines, good for investment push

Investors in the automobiles sector are clearly betting on big ticket consumption improving, including commercial vehicles

Direct tax: Budget gives a blueprint for sustained high-growth trajectory

Presently, no TDS is required on interest payable in the case of listed dematerialised securities

Budget 2023: Allocation to schemes for boosting exports increased

Allocation for the commerce department's key Remission of Duties and Taxes on Export Products (RoDTEP) scheme has been increased by 10 per cent

Social sector: The emphasis of Budget is on the consolidation of schemes

The government has ring-fenced financial outlays for various social sectors, and this is reflected in nominal increases and efforts to make them more effective

Indirect taxes: Budget proposals aligned with govt's strategic priorities

Budget 2023-24 adopted seven priorities or Saptarishi, one of which is building focus on green growth

Budget 2023: From Ashok Leyland to L&T, brokerages bet on cyclical stocks

Here are 10 stocks across sectors that are expected to gain the most from the various proposals

Our capex increase accounts for global slowdown: Finance secy TV Somanathan

"The government's welfare schemes are quite large, comprehensive, well spread and the emphasis is on implementation rather than on budget provisions"

Changing tracks

Investment in Indian Railways must be backed by reforms

LIVE: ED chargesheet is pure fiction, says Delhi CM Arvind Kejriwal

Catch all the live updates from across the globe here

Budget 2023: IIT Madras to get Rs 242 cr for research on lab grown diamonds

This research will be focused on driving indigenization of the LGD manufacturing process

Budget 2023 does not meet expectations of travel agents: Apex body TAAI

Travel agents apex body TAAI on Thursday expressed its "disappointment" over the Union Budget for financial year 2023-24, saying that it does not meet any of its expectations or demands. TAAI (Travel Agents Association of India), however, said it applauds the Finance Minister's idea of promoting travel on a 'mission mode.' "With the Union Budget 2023-24, Finance Minister Nirmala Sitharaman has shown solidarity towards the tourism sector and has left the travel fraternity hopeful. However, there is a huge wave of disappointment among the travel agent fraternity as the budget holds nothing for this large section," the association said. The travel agents fraternity, according to TAAI president Jyoti Mayal, contributes 11 per cent of employment and generate over 10 per cent of revenue contributing to the GDP. "Nothing has been done to our request on ease of doing business, be it on TCS abolishment or ITC for tour operators on inter-state GST credit which is one of the main concerns ...

Govt to move to exemption-free I-T regime with lower taxes: Revenue Secy

A day after the Budget announcement of a revamped personal income tax regime, Revenue Secretary Sanjay Malhotra on Thursday said the government would eventually like to move to a simple and exemption-free tax structure with lower rates. According to an analysis by the Revenue Department, an individual earning Rs 15 lakh in a year will have to claim deductions of at least Rs 3.75 lakh under the old tax regime, otherwise the new revamped tax regime with lower rates proposed in 2023-24 will be more beneficial. In an interview to PTI, Malhotra said the government does not have any specific timeline to make the new regime mandatory for taxpayers. "We would like to move towards a lower tax rate, which is simple and without tax exemptions," Malhotra said. The Budget has proposed changes to the new optional tax regime which provides that no tax would be levied on people with annual income of up to Rs 7 lakh. It also allowed taxpayers to claim standard deduction of Rs 50,000 under the new .

Union Budget 2023: Allocation for aid to foreign countries cut by 2.6%

Some of the countries whose allocation has been reduced under this head include Bhutan, Afghanistan and Mauritius

Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023

Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs

Union Budget 2023-24: Funding for IIMs brought down to Rs 300 crore

The Indian Institutes of Management (IIMs), which are counted among the noted business schools in the country, have faced a budget cut this year with the Centre reducing their grant by half. The top institutes, however, believe that the move might hurt new IIMs but not the second or first generation IIMs. There are 20 IIMs across the country. In the budget for 2023-24 announced by Finance Minister Nirmala Sitharaman on Wednesday, the funding for IIMs has been brought down to Rs 300 crore from the previous fiscal year's Revised Estimate (RE) of Rs 608.23 crore, a 50.67 per cent drop, even when the net budget for the fiscal year 2023-24 rose by 8 per cent amounting to Rs 44,094 crores for the higher education sector. According to the Budget Estimates (BE) for 2022-23, the IIMs were allocated an amount of Rs 653.92 crores. According to IIM Udaipur Director Ashok Banerjee, the government might be sending signals to IIMs to be more innovative in funding their growth plans. "The cut in

Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST

Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future

Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation

The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26

Union Budget underscores role of digital, tech in development: Nasscom

Amid the growing fears of slowdown and global recession, the Union Budget is growth-oriented, boosting allocations across sectors, according to IT industry body Nasscom. The budget offers a playing ground for the startup community as well, and has highlighted that India is the third largest ecosystem for startups, Nasscom said in a statement. "Amidst the growing fear of slowdown and global recession, the Union Budget 2023 is growth-oriented and committed budget, that has boosted allocations across sectors," the IT industry association said. India is walking the talk on becoming a global digital economy, enhancing competitive advantage with focus and investments across key intervention areas. "Calling out the Indian economy as tech-driven, knowledge-based economy, the budget focuses on three key transformational trends that will help build India its competitive advantage - digital transformation, energy transformation, and supply chain resilience," said Nasscom, the apex body for th

Rebates to slabs: Budget's key changes in Income Tax regime explained

This move indicates that the old regime will slowly be wound up