Page 2 - Union Budgets

Budget FY26: Goldman Sachs highlights focus on fiscal deficit, growth

India's elevated public debt-to-GDP ratio remains a concern. A reduction in the general fiscal deficit from 8 per cent in FY25 to 7 per cent by FY30 is critical to keeping public debt sustainable

Business Standard poll: Experts see FY26 nominal GDP growth at 10-11%

The first advance estimates released by the National Statistics Office (NSO) on Tuesday estimated a nominal GDP growth of 9.7 per cent for FY25

Budget for outcomes: Governance and financing reforms hold the key

The challenges to inclusion need to be addressed head on with governance changes and higher untied funding with community accountability and ownership

Japan's cabinet approves record $730 billion budget for next fiscal year

But record tax revenue is likely to help reduce new bond issuance to 28.6 trillion yen, the lowest since 2008

Sitharaman to hold pre-Budget talks with state finance ministers on Friday

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month

State-owned Punjab & Sind Bank plans to raise Rs 3,000 crore from maiden infrastructure bonds this month as part of exercise to raise resources to expand loan book. "We have taken board approval for raising Rs 5,000 crore from infrastructure bonds in tranches. As against that, the bank proposes to raise Rs 3,000 crore in the first tranche," Punjab & Sind Bank Managing Director and CEO Swarup Kumar Saha said. Asked about the timing of fundraise, he said, it would be tentatively in the third week of this month. The base issue size is going to be Rs 500 crore, with a greenshoe option of Rs 2,500 crore. In accordance with RBI guidelines, these papers would have a tenure of 10 years. They have been rated as 'AA' by domestic rating agencies. The bank proposes to utilise the proceeds in the next two quarters. These bonds would be listed on the National Stock Exchange (NSE) for trading. The bank is aiming at the credit growth of 13-14 per cent during the current financial ...

How govt navigates headwinds, challenges will shape the FY26 Budget

It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Sitharaman, rare in Indian polity

Govt to kick off FY26 Budget making exercise from 2nd week of next month

The finance ministry will commence the exercise to prepare the annual budget for 2025-26 from the second week of next month in the backdrop of the Indian economy recording 7 per cent growth rate for the fourth consecutive year. The budget for the next financial year would focus on reforms to be pushed to further accelerate growth momentum and measures to generate jobs and boost demand in the economy. "Pre-budget meetings chaired by Secretary (Expenditure) shall commence in the second week of October 2024. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 7, 2024," Budget circular 2025-26 issued by the Department of Economic Affairs said. Hard copies of the data in the specified formats should be submitted for cross-verification, it said. It will be the second budget of the Modi 3.0 government and 8th straight Budget for Finance Minister Nirmala Sitharaman, a rare distinction in Indian ...

Indian energy cos lag in R&D, innovation metrics compared to global peers

India's leading energy companies do not fare better than global firms on R&D intensity, proportion of employees with a PhD degree, and patents per billion dollar revenue, according to FAST India

Budget a right start to resolve jobs issues: Experts at 'Budget with BS'

At the 'Budget with BS' event in Mumbai on Wednesday, economic experts shared their perspectives on the recently introduced Budget during an insightful panel discussion with Business Standard

Global trade trends and Budget initiatives

The Budget signals a move towards a more open trade policy, but further broadening and deepening are essential

FIIs cash out from equities post Budget 2024 on capital gains tax tweaks

FIIs net sold stocks worth Rs 10,712 crore in the cash market, and index futures worth Rs 10,336 crore in the derivatives segment in the three trading sessions post Budget 2024.

Budget proposals for marine sector to boost India's aquaculture: MPEDA

Budget announcements for the marine sector such as rationalisation of customs duties and financing facilities will help boost the country's India's aquaculture and seafood exports, MPEDA said on Thursday. The Marine Products Export Development Authority (MPEDA) also said the Budget includes a range of strategic measures aimed at bolstering the competitiveness of marine products, with a particular focus on shrimp production and export. Various inputs used in the manufacture of shrimp and fish feed will now enjoy customs duty exemptions, it said adding a number of feed inputs such as mineral and vitamin pre-mixes, krill meal, fish lipid oil, crude fish oil, algal prime, algal oil are fully exempted from any import duty. Artemia and Artemia cysts which are key nutritional inputs in aqua hatchery were also fully exempted from any import duty. The Basic Customs Duty (BCD) on essential aquafarm/ hatchery inputs such as Vannamei and black tiger broodstock, polychaete worms, and fish/shrim

Arunachal Pradesh Dy CM presents Rs 993 crore deficit budget for FY25

Arunachal Pradesh Deputy Chief Minister Chowna Mein on Wednesday presented a Rs 993.08-crore deficit budget for 2024-25, focusing on infrastructure, urban development and healthy human resource. Mein, who also holds the Finance, Planning and Investment portfolios, said the budget estimate is pegged at Rs 35,840.79 crore, a 20.85-per cent increase over the 2023-24 figure. Our vision is people-centric and progressive... We are committed to fulfill the aspirations of every person, especially our youth, women and farmers. Staying on this trajectory, by the time we complete the third term in government, there should be no development gaps in the state. We shall be guided by the transformative idea of Viksit Bharat, Viksit Arunachal' as envisioned by Prime Minister Narendra Modi, Mein said. The deputy chief minister said the share of central taxes for the 2024-25 budget has been pegged at Rs 21,431.59 crore, an increase of 19.42 per cent over the 2023-24 estimate.

LTCG tax changes to benefit most real estate investors: Revenue secy

Revenue Secretary Sanjay Malhotra on Wednesday said the changes in Long-Term Capital Gain Tax (LTCG) announced in the Budget by Finance Minister Nirmala Sitharaman will benefit most of the people investing in the real estate sector. The Budget has lowered the LTCG from 20 per cent to 12.5 per cent but removed the indexation benefits. The indexation benefit allowed taxpayers to compute gains arising out of the sale of capital assets after adjusting inflation. The proposal has raised apprehensions that a person selling his property will have to pay a higher capital gain tax. "This is mostly a simplification exercise. Some people have expressed apprehension on the removal of indexation. I want to allay their concerns that while indexation has been removed at the same time the tax rates have been substantially reduced from 20 pc to 12.5 pc. This will benefit most of the people investing in real estate in the long term as the rate of return is more than 10-11 per cent," Malhotra told PT

UK businesses, investors community receive Union Budget with enthusiasm

The Union Budget tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday has been received with much enthusiasm within the UK business and investor community, with the fall in the Corporate Tax rate for foreign companies from 40 to 35 per cent and the abolition of the "Angel Tax" among the stand-out proposals. Announcements by the minister on India's fiscal deficit being on a downward trajectory, estimated at 4.9 per cent of GDP for this financial year, were among the aspects that experts feel would help boost foreign investor sentiment towards the economy. The country clocking an 8.2 per cent growth in the previous financial year and efforts to create jobs and enhance skills were among the other key highlights for UK business and industry. Overall, I would say it's a positive Budget for the Indian economy. There have been some really positive measures, particularly on infrastructure and supporting the agricultural economy, said Anuj Chande, Partner and Head of the

Budget 2024: Minority affairs ministry's allocation increases by Rs 574 cr

The budgetary allocation for the Ministry of Minority Affairs has increased by Rs 574.31 crore to Rs 3,183.24 crore for 2024-25 as against the revised estimate of Rs 2,608.93 crore in 2023-24. Union Finance Minister Nirmala Sitharaman presented the Budget for 2024-25, her seventh straight presentation, surpassing the record of former prime minister Morarji Desai. This was the first budget of Prime Minister Narendra Modi-led government's third term in office. The budget allocation for the ministry was Rs 3,097.60 in 2023-24. However, the revised estimate was Rs 2,608.93, according to official documents. The budget estimate for the Ministry of Minority Affairs this year is Rs 3,183.24. Of the proposed allocation for the ministry, Rs 1,575.72 crore is for education empowerment. The allocation for Pre-Matric Scholarship for Minorities is Rs 326.16 crore and for Post-Matric Scholarship for Minorities is Rs 1,145.38 crore. A total provision of Rs 2,120.72 crore has been made for the ma

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime

Budget 2024: Adequate capital buffers, credit-deposit ratio may weaken

PSBs to develop capabilities to assess MSMEs for credit, reducing external reliance

Budget 2024: Will make up for revenue forgone, says FM Nirmala Sitharaman

Gradually, we are moving towards a simplified taxation regime, while bringing down the incidence of tax itself. Therefore, we are taking this review, says FM