Page 11 - Union Budgets

LIVE news: US Fed holds policy rate unchanged in 5.25%-5.5% range

Catch all the latest updates from across the globe here

Equity markets up by 1% ahead of Budget, US Fed interest rate decision

Benchmark equity indices recovered their previous day's losses and closed nearly 1 per cent higher on Wednesday amid robust buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead -- the interim budget and the US Fed interest rate decision -- to derive further cues from. Reclaiming all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11. During the day, it zoomed 711.49 points or 1 per cent to 71,851.39. The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70. "Nifty bounced back from a weak start and closed with gains of 204 points at 21,726 levels. Global markets will keenly await the US Fed's commentary on the rate cut timeline. On the domestic front, investor's focus will be on the Budget," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Among the Sensex firms, Sun Pharma, Tata Motors, State Bank of India, Mahindra & Mahindra, ..

Govt should focus on capital expenditure in interim Budget: Former NITI VC

Former NITI Aayog vice chairman Rajiv Kumar on Wednesday said the government needs to continue its focus on capital expenditure in the upcoming interim budget, as private investment is 'still weak' and there is a need to bridge infrastructure gap, which has been 'plaguing' the Indian economy. Kumar noted that increase in capital expenditure during the Modi government period is showing results in terms of the much better quality of the infrastructure and this was needed to make Indian industry globally competitive. He said because of rising indirect tax revenues and also the widening direct tax base, the finance minister will also achieve fiscal consolidation targets. "The capex thrust will continue because the private investment still remains a bit weak. And also, we need to overcome the infrastructure deficit that has plagued our economy and also the logistics cost, which are very high and can only be covered by rising public capital expenditure" he told PTI in an ...

Govt appoints members for new finance panel to recommend on federal taxes

The panel will submit its report by Oct. 31, 2025 covering a period of five years commencing on April 1, 2026

Best of BS Opinion: Rural India's Budget, gender preference & more

Here is the best of Business Standard's opinion pieces for today

Operating at scale

From the first Budget to today, India's economy has changed, requiring boards to adapt and think on a global scale

Rural India's Budget expectations

There is a need to reduce stress in agriculture and increase demand to ensure sustainable growth

Budget 2024 Highlights: Parliament's Budget Session to begin on Wednesday

Union Finance Minister Nirmala Sitharaman is set to table the interim budget for 2024-25 on Thursday, February 1. Catch all the latest Budget 2024 updates here

Interim Budget 2024: Some key imperatives that are need for the economy

Simplifying taxes would help businesses navigating turbulent times, writes Ketan Dalal

Centre holds all-party meet ahead of interim Budget session of Parliament

Floor leaders of various parties on Tuesday attended an all-party meeting convened by the government ahead of the Budget session of Parliament. Defence Minister and Deputy Leader in the Lok Sabha, Rajnath Singh, Parliamentary Affairs Minister Pralhad Joshi and his deputy Arjun Ram Meghwal represented the government at the meet. NCP chief Sharad Pawar, Congress' K Suresh, TMC's Sudip Bandopadhyay, DMK's T R Baalu, Shiv Sena's Rahul Shewale, Samajwadi Party's S T Hasan, JD(U)'s Ram Nath Thakur and TDP's Jayadev Galla were among the leaders present at the meeting at the Parliament House complex. It is a customary practice ahead of every session to convene a meeting as leaders of different parties highlight the issues they want to raise in Parliament, and the government offers them a glimpse into its agenda and seeks their cooperation. It will be a short session this time, between January 31 and February 9, with Finance Minister Nirmala Sitharaman set to table an interim budget ahead

Indian investors favour long-term bonds anticipating conservative budget

Recent bond auctions saw bids that surpassed expectations, said Alok Singh, group treasury head at CSB Bank

Budget highlights: GST on health insurance must be reduced, says Niva Bupa

Union Finance Minister Nirmala Sitharaman is set to table the interim budget for 2024-25 on Thursday, February 1

Interim Budget 2024: Defence budget under Modi govt from 2014-2023

From modernisation to border security, here is a look at India's defence Union Budget over the last decade, according to reports by Ministry of Defence

Here's what to watch out for in Interim Budget ahead of Lok Sabha polls

The budget this week is an interim one until a new administration takes office, and the finance minister has already hinted there won't be any major announcements

'No spectacular announcements': Will FM walk the talk on interim Budget?

The Interim Budget due on February 1, 2024, will include a Vote on Account to ensure that the government's expenditure does not get affected in view of the Lok Sabha elections

State revenue grows 5% till Nov against 17.4 budgeted for FY24: Report

The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November from the budgeted 17.4 per cent for the current fiscal, according to a report. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions. The plunge is due to a contraction in sales tax and lower-than-budgeted growth of state goods and services tax collections (SGST), excise duty and stamps and registrations during the period, restricting the growth of states own tax revenue (SOTR) to 11 per cent. Another reason for the poor numbers is the steep decline in Central grants, Icra Ratings said in a report. The agency, though, expects an upside in tax devolution in the fourth quarter, its quantum may not be adequate to fully offset the shortfall in grants. Moreover, even if a sizeable portion of the

As many as 431 infra projects show cost overrun of Rs 4.82 trillion in Dec

As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or more, were hit by cost overrun of more than Rs 4.82 lakh crore in December 2023, an official report stated. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,820 projects, 431 reported cost overrun and 848 projects were delayed. "Total original cost of implementation of the 1,820 projects was Rs 25,87,066.08 crore and their anticipated completion cost is likely to be Rs 30,69,595.88 crore, which reflects overall cost overruns of Rs 4,82,529.80 crore (18.65 per cent of original cost)," the ministry's latest report for December 2023 said. According to the report, the expenditure incurred on these projects till December 2023 is Rs 16,26,813.80 crore, which is 53 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 638, if delay is

Budget 2024 LIVE: Tax benefits, support to women among expectations

Union Budget 2024 Live Updates: Catch all the latest developments on the Interim Budget 2024 here

Will launch protests if Bengal's dues not cleared in seven days: Mamata

West Bengal CM and Trinamool chief Mamata Banerjee on Friday gave the Centre a seven-day ultimatum to clear all dues failing which the party would launch a massive protest. Banerjee made these remarks during a programme at Raj Bhavan to celebrate the 75th Republic Day. Banerjee said, "If the central government does not clear the funds, then we (TMC) will initiate a massive protest." According to West Bengal government's figures, the Centre owes the state Rs 9,330 crore under the PMAY, Rs 6,900 crore under MGNREGA, Rs 830 crore under National Health Mission, Rs 770 crore under PM Gram Sadak Yojna, Rs 350 crore under the Swachh Bharat Mission, Rs 175 crore for mid Day Meals, as well as money under other schemes. Banerjee had met Prime Minister Narendra Modi on December 20, and discussed the issue of pending central funds. After the meeting, she said Modi proposed that officials from state and Centre can sit together and clear the issues. Earlier this week, a team of state governmen

Sitharaman to equal record of ex-PM Desai by presenting 6 Budgets in a row

Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. The interim Budget 2024-25 to be presented by Sitharaman on February 1, will be a vote-on-account that will give the government authority to spend certain sums of money till a new government comes to office after the April-May general elections. As the Parliamentary elections are due, Sitharaman's interim Budget may not contain any major policy changes. Speaking at an industry event last month, Sitharaman had ruled out any "spectacular announcement" in the interi