Page 13 - Union Budgets

Union Budget 2024: 10 terms to boost the know-how of key financial exercise

The Union Budget, laid out on February 1 annually, is the financial roadmap that shapes the country's economy. Here are 10 key Budget terms for better insights into the key financial exercise

Budget 2024: Highlights of education budget under Modi govt since 2014

The National Education Policy, introduced in 2020, states that 6% of the country's GDP should go towards education. Here is a look on how the country has fared in over a decade of education

Gender budgeting in India: What does it mean and how it impacts policy

India adopted its first gender budget in 2005-06, marking a significant step towards addressing gender disparities in resource allocation

Railways give thumbs up to Rs 1 trn plan to do away with waiting lists

The Indian Railways plans to procure 7,000-8,000 new train sets over the next 15 years to make train travel more efficient and eliminate waiting lists

No 'spectacular announcements' in interim Budget, says FM Sitharaman

"Budget that will be announced will just be a vote on account because we will be in election mode, and elections will happen during the coming summer", the FM said

Interim Budget: All you need to know about the budgets during election year

Here is everything you need to know about the meaning of interim Budget, why and when it is presented, vote-on-account, and more

Decoded: What is the government borrowing programme and calendar?

The Central Government adheres to a semi-annual borrowing calendar, while State Governments follow quarterly calendars

States, industry snub govt ports for private ones in coastal shipping

Between April and August, coastal cargo handled at state-owned ports increased by 1.3%, while it rose 21% at private ports

Centre hikes MGNREGA wages, new rates to be applicable from April 1

In a notification released on March 24, the Union Ministry of Rural Development declared revisions to the rural job guarantee programme for the financial year 2023-24

PM Modi to address post budget webinar on VIKAS scheme on Saturday

Prime Minister Narendra Modi will address the post Budget webinar on PM VIshwakarma KAushal Samman scheme on Saturday. It is part of a series of 12 post Budget webinars being organised by the government to seek ideas and suggestions for effective implementation of the initiatives announced in the Union Budget. "The webinar will have four breakout sessions covering the Budget announcement for the MSME sector - PM VIshwakarma KAushal Samman (VIKAS). "This will involve holding discussions and deliberations with regard to design, structure, and implementation of the new scheme," an official statement said on Friday. PM VIshwakarma KAushal Samman (PM VIKAS) aims to improve the quality, scale and reach of products/services of artisans/crafts people by integrating them with the domestic and global value chains. The webinar will have four breakout sessions covering themes like access to affordable finance, including incentives for digital transactions and social security. It will also ha

Social capital and Budgets: The picture is varied, not just black or white

India's ranking on the UN's HDI has remained more or less unchanged, suggesting the country is doing no better or worse than others, though most are growing much slower than India, writes T N Ninan

Budget prepared keeping mind external challenges also: FM Sitharaman

The Union Budget 2023-'24 has been prepared keeping growth in focus and also external economic challenges such as fuel prices, Finance Minister Niramala Sitharaman said on Thursday. In an interactive session on the Budget, she said the focus was on the common man and weaker sections and to ensure that their businesses are supported, their education is supported, the opportunities which are available for them to skill themselves are also given enough provision. "The priority is to keep the growth momentum as it is and also to make sure that the further support measures for sustaining growthAnd be conscious of the fact that challenges which are extraneous to India. External challenges will have to be kept in mind. We should be ready for any unpredictable events from outside of our border," she said when asked what the priorities were when the budget was given a final shape. "Economic challenges which are even today prevalent in terms of fuel and fertilisers. Fertilisers are coming dow

Union budget 'exclusionary', minorities 'brutally discriminated': Congress

Dubbing the Union Budget "exclusionary", Congress leader in Lok Sabha Adhir Ranjan Chowdhury alleged on Friday that the minorities have been "brutally discriminated" against in the allocations and that many view it as part of a series of Islamophobic policy decisions by the government. Concluding a discussion on the budget in Lok Sabha, Chowdhury also asked the government to answer questions raised in the US-based short seller Hindenburg Research's report on billionaire Gautam Adani's companies that triggered an unprecedented stock crash. He reiterated the Opposition's demand for a joint parliamentary committee probe or a Supreme Court-monitored investigation into the matter. Chowdhury alleged that the Union Budget for 2023-24 was nothing but "skewed numbers" and had neglected regions such as Ladakh, Jammu and Kashmir and the Northeast. He claimed that the budget had failed to cater to vulnerable sections of society, including women, Scheduled Castes, Scheduled Tribes and ...

Budget 2023-24 will give boost to fund-starved sectors: MSME secretary

The Centre has acknowledged MSMEs' contribution to the country's economic growth, and the Budget 2023-24 has given a boost to the fund-starved sector with higher credit flow and by simplifying compliances, an official said on Wednesday. Availability, accessibility and affordability of credit/funds are the main challenges of the sector, said B B Swain, Secretary to the Union Ministry for Micro, Small and Medium Enterprises (MSMEs). He was addressing a session at the launch of the three-day Indian Foundry Congress (IFC) and India Foundry Equipment Exhibition (IFEX), being organised by the Institute of Indian Foundrymen (IIF) at the India Expo Centre in Greater Noida. "The government has acknowledged the contribution of MSMEs to the economic growth of the country. Union Budget 2023-24 has given a boost to the fund-starved sector with higher credit flow and by simplifying compliances," Swain said. He said the launch of a revamped credit guarantee scheme worth Rs 9,000 crore for MSMEs .

Singapore chamber says pro-SME budget offers opportunities in India

Describing India's budget for the financial year 2023-24 as a pro-business and pro-SME friendly, the Singapore Indian Chamber of Commerce and Industry (SICCI) on Friday said it provides many collaborative opportunities in developing close business ties with the small and medium enterprises of both Singapore and India. SICCI chairman Neil Parekh said he was particularly encouraged by Finance Minister Nirmala Sitharaman's announcement of the target of Saptarishi' unleashing the potential, green growth, youth power and growth of the financial sector. My team at the Singapore Indian Chamber of Commerce and Industry intend to build on these announcements and work closely with our counterparts in India to grow the opportunities between the SMEs of both countries, Parekh said on the Budget 2023-24. Describing the budget as A pro-business and a pro-SME friendly Budget, Parekh said: As an immediate step, we will be contacting the leadership of ASSOCHAM (The Associated Chambers of Commerce an

Budget 2023: Understanding 20% TCS on foreign remittance transactions

Budget 2023: Earlier, a 5 per cent tax collected at source was levied on foreign remittances

Borrowing limit: Kerala FM says Centre has adopted "wrong policy"

Kerala Finance Minister K N Balagopal on Thursday said the Centre's imposition of cuts in the borrowing limit of the states would adversely impact the southern state's economy, which is yet to completely recover from the challenges due to the COVID-19 pandemic and back-to-back natural disasters. The BJP-led union government adopted a "wrong policy" to reduce the state's borrowing capacity after including the loans taken by the special purpose vehicles like Kerala Infrastructure Investment Fund Board and Kerala Social Security Pension Limited within the state government's overall borrowing limit, he told the state Assembly. "The cutting down of the borrowing capacity of states to three per cent from the previous five per cent will adversely impact the state's economy," Balagopal said during Question Hour. Despite repeated requests to restore the previous borrowing limit of the states and to avoid the inclusion of the loans taken by the KIIFB and KSSPL in the state's overall borrowing

Banking sector should cheer Budget

The Budget estimated the nominal GDP growth at 10.5 per cent in FY23, lower than what the Economic Survey, tabled a day ahead, projected

Union Budget cuts MGNREGA allocation by 30% to Rs 61,032 cr for 2023-24

During the Coronavirus-induced lockdown, lakhs of migrant workers had found work under it when they were forced to return to their native places

Govt to launch Atmanirbhar Clean Plant Programme with outlay of Rs 2,200 cr

The Finance Minister said that the agriculture credit target will be increased to Rs 20 lakh crore with focus on animal husbandry, dairy and fisheries