Page 2 - Latest Updates on Budget presentation
'Union Budget 2023-24 is a road map for nation building', says Assocham
The chamber which has been seeking relief to the MSMEs expressed gratitude to the government for giving several incentives to the small businesses and the start-ups
 "'Union Budget 2023-24 is a road map for nation building', says Assocham")
Union Budget: Rs 28,138 cr allocated to meet requirements for OROP scheme
The Budget marked an increase in the allotment for Ex-Servicemen Contributory Health Scheme (ECHS) with Budget Estimates of Rs 5,431.56 crore in FY 2023-24 as against Rs 3,582.51 crore in FY 2022-23
 "Union Budget: Rs 28,138 cr allocated to meet requirements for OROP scheme")
Budget 2023-24: Civil Aviation Ministry's allocation dips to Rs 3,113.36 cr
The Budget allocated Rs 3,113.36 crore to the ministry, against Rs 10,667 crore in 2022-23, which was later revised to Rs 9,363.70 crore
 "Budget 2023-24: Civil Aviation Ministry's allocation dips to Rs 3,113.36 cr")
Budget: NPCIL gets Rs 9,410 cr as India seeks to ramp up nuclear capacity
The Department of Atomic Energy has been allocated Rs 25,078.49 crore which is lower than Rs 25,965.67 crore it had received in the revised estimates in the 2022-23 fiscal
 "Budget: NPCIL gets Rs 9,410 cr as India seeks to ramp up nuclear capacity")
Life insurance firms' shares fall on taxation proposal related to policies
According to Union Budget documents, an individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceeds Rs 5 lakh
 "Life insurance firms' shares fall on taxation proposal related to policies")
Budget 2023: Govt pegs FY24 disinvestment revenue target at Rs 51,000 crore
For the next fiscal beginning April 1, the miscellaneous capital receipts have been pegged at Rs 61,000 crore, including Rs 51,000 crore from disinvestment
 "Budget 2023: Govt pegs FY24 disinvestment revenue target at Rs 51,000 crore")
Union Budget 2023: Kiren Rijiju hails outlay of Rs 7,000 crore for e-courts
Rijiju has termed the allocation as "unprecedented", which will create paperless courts for faster delivery of justice
 "Union Budget 2023: Kiren Rijiju hails outlay of Rs 7,000 crore for e-courts")
Budget numbers highly doable, should push private capex cycle: BoB chief
The budget also has penciled in a lower revenue growth forecast given the most-likely fall in nominal GDP from 15.5 per cent this fiscal to about 10 per cent next year
 "Budget numbers highly doable, should push private capex cycle: BoB chief")
Budget 2023: Govt allocates nearly Rs 12,544 crore to Department of Space
ISRO plans to launch Chandrayaan-3, India's third lunar mission, in July using the Launch Vehicle Mark-3
 "Budget 2023: Govt allocates nearly Rs 12,544 crore to Department of Space")
Union Budget 2023: Govt proposes taxation changes related to REITs, InVITs
The move is aimed at widening the tax base
 "Union Budget 2023: Govt proposes taxation changes related to REITs, InVITs")
Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24
Collections from Customs duty are expected to rise by 11% to Rs 2.33 trillion, from Rs 2.10 trillion in the revised estimates
 "Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24")
Budget 'progressive'; ticks all boxes, powers India's growth drive: Scindia
He also said the Budget gives a huge impetus to the vision of Ude Desh ka Aam Naagrik (UDAN)
 "Budget 'progressive'; ticks all boxes, powers India's growth drive: Scindia")
Hero MotoCorp Chairman Munjal hails Budget; seeks GST cut on two-wheelers
Munjal said that the finance minister presented an inclusive budget with a vision to develop Bharat and India and its various constituents simultaneously
 "Hero MotoCorp Chairman Munjal hails Budget; seeks GST cut on two-wheelers")
Union Budget 2023: Govt allocates Rs 35,581 crore to Jammu and Kashmir
This allocation is substantially lower than the current fiscal's revised estimate of Rs 44,538.13 crore
Union Budget 2023: Rs 19,518 crore allocated to metro projects across India
The outlay for this year includes equity investment of Rs 4,471 crore, subordinate debt of Rs 1,324 cr and pass through assistance Rs 13,723 crore
 "Union Budget 2023: Rs 19,518 crore allocated to metro projects across India")
Union Budget 2023: Centre allocates Rs 44,094 crore for higher education
In 2023-24, the grant for the UGC has been increased by 9.37 per cent -- an increase of Rs 459 crore
 "Union Budget 2023: Centre allocates Rs 44,094 crore for higher education")
Landmark budget of New India that's emerging as economic powerhouse: MoS IT
Country is expanding investments in modern capex, digitalisation, modern cities, and skilling for youth, tax cuts for the middle class and expanding support and opportunities for all, minister said
 "Landmark budget of New India that's emerging as economic powerhouse: MoS IT")
Union Budget 2023: Govt allocates Rs 5.94 trillion to defence ministry
The allocation to Defence Research Development Organisation (DRDO) has been put at Rs 23,264 crore
 "Union Budget 2023: Govt allocates Rs 5.94 trillion to defence ministry")
Gems and jewellery industry disappointed with Union Budget for 2023-24
Currently, the basic customs duty on silver dore is 6.1 per cent, while on semi-manufactured items it is 7.5 per cent
 "Gems and jewellery industry disappointed with Union Budget for 2023-24")
Nothing in Union Budget to solve economic disparities in country: Kerala CM
The Chief Minister, in a statement, also expressed the view that the budget has not taken a regionally balanced approach
 "Nothing in Union Budget to solve economic disparities in country: Kerala CM")
