Page 10 - Union Budgets

Health Budget: Experts hail more medical colleges, vaccination for girls

Healthcare experts on Thursday gave a thumbs up to the Centre's plan to set up more medical colleges by utilising the existing hospital infrastructure, with some saying the move demonstrates a "holistic commitment" to health. Finance Minister Nirmala Sitharaman, while presenting the interim Union Budget for 2024-2025 on Thursday, among other announcements, also said the government will encourage vaccination for girls in the 9-14 year age group for the prevention of cervical cancer. Serum Institute of India (SII) CEO Adar Poonawalla hailed the government's announcement. "I applaud the announcement to vaccinate girls aged 9-14 against cervical cancer. Let's pledge to prevent HPV (Human Papillomavirus) and ensure easy access to vaccination. Extending health cover for ASHA and anganwadi workers, setting up more medical colleges and streamlining maternal and child healthcare schemes demonstrate a holistic commitment to health," he wrote in a post on X. Other medical experts said creatio

Interim Budget: 'Fiscally prudent, growth-promoting pronouncement'

The underlying nominal GDP growth assumption of 10.5 per cent for the Budget and tax collection estimates are realistic

Interim Budget: U-WIN platform to be rolled out for managing immunisation

The U-WIN portal is linked with Co-WIN portal and the beneficiary records from Co-WIN can be accessed through U-WIN using the registered mobile number for facilitation of registration of children

Govt to spend less on farmer fertiliser subsidy as world prices soften

India's budget deficit is projected to be 5.8% of gross domestic product in 2023-24. The government aims to curb the deficit to 5.1% in the next financial year

Interim Budget evokes mixed response from Indian business community in Gulf

India's interim Budget for 2024-25 received mixed reactions from the Indian business community in the Gulf with some hailing it as forward-looking and a vision statement for the journey from developing to a developed country by 2047 while others voiced disappointment over the absence of tax reliefs for individuals. Presenting a vote on account for 2024-25 in Parliament, Finance Minister Nirmala Sitharaman proposed no changes in income tax rates for individuals and corporations, as well as customs duty. She hiked capital expenditure to Rs 11.11 lakh crore for 2024-25 while trimming the fiscal deficit for this financial year to 5.8 per cent, from the budgeted 5.9 per cent of GDP, and further lowering to 5.1 per cent in the next fiscal. In the interim Budget 2024, there is a need to enhance digitalisation of tax return filing-linked procedures such as changing residency status, assessments and even alternative tax return verification systems linked to NRIs," said Deepak Bhatia, Managin

Govt seeks to boost oilseed output to cut expensive vegetable oil imports

India, the world's biggest vegetable oil importer, spent a record $20.8 billion on its edible oil purchases in the fiscal year to March 2023

SBI, BoB, PSB: Track these levels while riding the rally in PSU Banks

The Nifty PSU Bank index was the top performing sector post Interim Budget on Thursday; the index was up almost 12 per cent in the last four days.

India negotiating bilateral investment treaties with different nations: FM

India is negotiating bilateral investment treaties with different countries with a view to promote foreign inflows, Finance Minister Nirmala Sitharaman said on Thursday. She said that foreign direct investment (FDI) has doubled during 2014-23 to USD 596 billion compared to the inflow received during 2005-14. "For encouraging sustained foreign investment, we are negotiating bilateral investment treaties with our foreign partners, in the spirit of 'first develop India'," she said while presenting the interim Budget 2024-25. India is negotiating this treaty with countries such as the UK. These investment treaties help in promoting and protecting investments in each other's countries. These pacts are important as India has earlier lost two international arbitration cases against British telecom giant Vodafone and Cairn Energy plc of the UK over the retrospective levy of taxes. Foreign direct investment (FDI) equity inflows in India declined 24 per cent to USD 20.48 billion in ...

Budget 2024: Upto 10 mn taxpayers to be free from petty tax claims dating back to 1962

The government has decided to waive outstanding direct tax demands up to Rs 25,000 for the period up to financial year 2009-10 and up to Rs 10,000 for financial years 2010-11 to 2014-15.

Interim Budget 2024: FM bets big on spiritual and island tourism in India

The interim budget proposed to greater enhance infrastructure and connectivity to facilitate domestic tourism on islands, including Lakshadweep.

Interim Budget 2024: FM enhances Lakhpati Didi scheme to target 3 cr women

Last year, Prime Minister Narendra Modi announced the scheme, which aims to encourage women to start micro-enterprises, during his Independence Day speech on August 15, 2023.

Govt to set up committee to look into population growth challenges, says FM

The government will form a high-powered committee to look into the challenges arising from fast population growth and demographic changes, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim Budget 2024-2025 in Parliament, she said the committee will be mandated to make recommendations for addressing these challenges comprehensively in relation to the goal of 'Viksit Bharat'. Sitharaman said various schemes for maternal and child healthcare will be brought under one comprehensive programme for synergy in implementation. "Upgradation of anganwadi centres under the Saksham Anganwadi and Poshan 2.0 will be expedited for improved nutrition delivery, early childhood care and development," she stated.

Govt okays continuation of apparel exports incentive scheme till Mar 2026

The government on Thursday approved the continuation of an export incentive scheme - RoSCTL - for apparel, garments and made-ups up to March 31, 2026. The Rebate of State and Central Taxes and Levies (RoSCTL) scheme is aimed at compensating for the state and central taxes and levies in addition to the rebate provided under duty drawback scheme on export of apparel/garments and made-ups. "The Union Cabinet chaired by Prime Minister Narendra Modi approved the continuation of scheme for RoSCTL for export of apparel/garments and made-ups up to March 31, 2026," an official statement said. It said that the move will provide a stable policy regime which is essential for long-term trade planning, more so in the textiles sector where orders can be placed in advance for long-term delivery. "The continuation of RoSCTL will ensure predictability and stability in policy regime, help remove the burden of taxes and levies and provide level-playing field on the principle that goods are exported a

Women empowerment via entrepreneurship gained momentum in 10 years: FM

The empowerment of women through entrepreneurship and ease of living has gained momentum in the last 10 years, Finance Minister Nirmala Sitharaman said on Thursday while highlighting that female enrolment in higher education has gone up by 28 per cent in the period. Presenting the interim Budget 2024-25, she said 30 crore Mudra Yojana loans have been given to women entrepreneurs. "Female enrolment in higher education has gone up by 28 per cent in 10 years. In STEM (science, technology, engineering, mathematics) courses, girls and women constitute 43 per cent of enrolment - one of the highest in the world," the minister said. The "empowerment of women through entrepreneurship, ease of living, and dignity for them has gained momentum in these ten years", the minister said, adding that all these measures are getting reflected in the increasing participation of women in the workforce. "Making triple talaq illegal, reservation of one-third seats for women in the Lok Sabha and state ...

India-Middle East-Europe corridor game changer for us, says FM Sitharaman

The Union Minister also underscored the success of India's G20 presidency and said that during the tough times engulfed by the COVID-19 pandemic, India navigated its way and addressed global problems

Proactive management helps keep inflation within manageable level: FM

Proactive inflation management has helped keep the country's inflation within the manageable range, Finance Minister Nirmala Sitharaman said while presenting the interim Budget on Thursday. She also said that the inflation has moderated. The Reserve Bank of India has been mandated by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side. Retail inflation rose at the fastest pace in four months in December 2023 at 5.69 per cent on account of an increase in prices of vegetables, pulses, and spices. The annual inflation based on the Consumer Price Index (CPI) was at 5.55 per cent in November and 5.72 per cent in the year-ago month. As per the data released by the National Statistical Office (NSO), the rate of price rise in the food basket, which constitutes nearly half of the CPI, increased to 9.53 per cent in December 2023 against 8.7 per cent in the preceding month and 4.19 per cent in December 2022. In August 2023, inflation ha

Budget 2024: Working to make India developed nation by 2047, says FM

The government is working to make India a developed country by 2047, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim Budget 2024-25, Sitharaman also said minimum support prices for 'Annadata' (farmers) have been increased periodically and appropriately. She asserted that for the government, social justice is an effective and necessary model. The government is focussing on addressing systemic inequalities, she said, adding that the emphasis is on outcomes so that socio-economic transformation is achieved. "We focus on outcomes and not outlays," Sitharaman said. Poor, women, youth and farmers are four castes for the government, she added.

Budget 2024: Nirmala Sitharaman meets President ahead of Budget speech

Finance Minister Nirmala Sitharaman on Thursday called on President Droupadi Murmu before presenting the pre-election Budget for 2024-25. As per established tradition, the finance minister met the President at the Rashtrapati Bhawan before heading to Parliament. "Union Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Shri Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget," Rashtrapati Bhawan said in a post on X (formerly Twitter). President Murmu extended her best wishes to the finance minister. The Union Cabinet met thereafter to clear the Budget. Before the actual presentation in Parliament, the Cabinet headed by Prime Minister Narendra Modi will approve the Budget for fiscal year 2024-25 (April 2024 to March 2025). Expectations are running high as Sitharaman presents her sixth budget in the Lok S

Union Budget 2023-24 highlights: Here's the complete overview of Budget

Ahead of Budget 2024, here is a recap of the Budget presented by Union Finance Minister Nirmala Sitharaman on February 1, 2023

FM Sitharaman arrives at Finance Ministry ahead of interim Budget 2024

The last session before Lok Sabha polls, expected to be held in April-May this year, will have a total of eight sittings spread over 10 days