Page 76 - Union Budget

Direct tax mop-up rises 24% YoY to Rs 8.98 trillion in FY23 so far

Refunds amounting to Rs 1.53 lakh crore have been issued between April 1-october 8, an increase of 81 per cent over the corresponding period last year

Govt to kick off Budget-making exercise for FY 2023-24 on Monday

The government on Monday will kick off its annual Budget making exercise for financial year 2023-24, that is expected to look at measures to revive growth amid a gloomy global outlook. The meeting would start with consultations with various ministries and departments on the revised estimates (RE) of expenditure for ongoing financial year and the fund requirement for 2023-24. On the first day on Monday, RE meetings with Ministry of Environment, Forest and Climate Change, Ministry of Labour And Employment, Ministry of Information and Broadcasting, Ministry of Statistics and Programme Implementation and Ministry of Youth Affairs and Sports would take place. Most of these discussions to finalise RE for ongoing financial year (2022-23) and Budget Estimate for 2023-24 would be chaired by the Finance Secretary and Expenditure Secretary. The month-long deliberations would end on November 10, with consultations with Ministry of Cooperation, Department of Agriculture and Farmers Welfare, ...

CBIC floats new norms to curb undervaluation of goods by importers

Nove comes after customs dept observed several consignments from South-East Asia in which rules of origin were flouted, and the FTA route was being used to evade duties

Centre cuts FY23 borrowing target by Rs 10k cr amid robust tax collections

The government will borrow Rs 5.92 trillion, or 41.6 per cent of the new FY23 target, in October-March, including from the issuance of its maiden sovereign green bonds of Rs 16,000 crore

Decoded: What are green bonds and how much will be the govt issue?

Green bonds are debt instruments the proceeds of which are utilised to finance projects that are beneficial to the environment

Will NITI Aayog-like bodies come up in the states and will they deliver?

Experts believe that merely replacing the state boards with Aayog-like bodies will not make them institutions which would be looked at seriously by the governments

Central government to begin Budget 2023-24 preparations from October 10

Budget 2023-24 will be the fifth budget of the Modi government. It will be FM Sitharaman's last Budget before the 2024 General Elections

Capex loan disbursement to states may rise to Rs 70,000 cr by Q2 end

This is lower than Finance Minister Nirmala Sitharaman's expectation Rs 1 trillion would be released by end of September

PSU debt serviced by a state to be brought under its FRBM limit: Govt

Such borrowings shall be considered as those availed by the state itself for the purpose of issuing consent under Article 293(3) of the Constitution, says FM Sitharaman

A makeover for North Block

The Indian economy faces tough challenges, but the pressure today is more on Mint Road

Centre's new scheme to minimise migration from border areas: Minister

Prime Minister Narendra Modi is planning to rehabilitate people living along the international borders by providing them with all basic facilities, Pramanik said

Rs 1,900 crore deficit likely to hit infrastructure projects in FY23

While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation.

Will we see a reverse repo hike this week?

Can RBI afford the luxury of waiting out on the inflation front to allow growth to pick up?

Despite huge outlay, Rs 15,000 cr MGNREGA dues may spill over to FY23

Expenditure on the MGNREGA scheme in FY22 is pegged at 1,13,311.23 cr, so even if the Centre uses all if the Rs 98,000 cr allocated to the scheme, a huge sum will remain uncleared.

Union Budget sets agenda to provide tax predictable regime: FM

Union Finance Minister Nirmala Sitharaman on Monday said the Union Budget for 2022-23, which she had presented, stands for continuity to provide a tax predictable regime

Focus of Union Budget was on providing stability post Covid pandemic: FM

Sitharaman said the 2022 Budget was a continuity of the previous budget last year which was more exhaustive in laying out the formulation, principle and then provide stability for revival from Covid

Focus of Budget 2022 on making agriculture sector modern, smart: PM

Prime Minister Narendra Modi on Thursday said the focus of the Union Budget 2022-23 is on making the agriculture sector modern and smart. Discussing ways in which the Budget will contribute to strengthening the agriculture sector, Modi said in the last seven years, the government has taken several initiatives for the entire agri value chain from seed to market and also improved the old systems. Addressing a post-budget webinar on smart agriculture, he said agriculture budget has increased manifold in just six years and farm loans for farmers have also been increased by 2.5 times in seven years. The Prime Minister said that in the recent Budget, seven main avenues have been suggested to make agriculture modern and smart. These include natural farming on mission mode along the Ganges with 5 km wide corridors on both sides of the river, making available modern technology, and providing facilities like regular banking at more than 1.5 lakh post offices. Modi called upon the startups to

Digital connectivity of villages need of day, says PM Narendra Modi

Digital connectivity of villages is no longer an aspiration but the need of the day, Prime Minister Narendra Modi said on Wednesday."Digital connectivity of villages is no longer an aspiration but the need of the day. Broadband connectivity will not only provide facilities in the villages, but it will also help in creating a large pool of skilled youth in the villages," said Prime Minister Narendra Modi while addressing a programme on the Union Budget 2022."When the service sector expands with broadband connectivity in the village, the country's potential will increase further. If there are any problems in optical fiber connectivity, then we have to identify them and find solutions," the Prime Minister said.He said that the citizens of the country need to inform the rural population about the proper usage of optical fibre networks."We need to identify and solve all optical fibre connectivity issues across the nation's rural areas. We also need to inform the rural population about the .

Explained: How the Union Budget funds India's justice system

Over half of the union budget for the Ministry of Law and Justice is for election-related expenditure.

Budget 2022 focused on growth revival: Nirmala Sitharaman to industry

The revival of economic growth was the foremost priority of the Union Budget FY23, said Finance Minister Nirmala Sitharaman