Budget

The opposition-controlled parliament last month cut 4.1 trillion won from the government's proposed 677.4 trillion won ($473 billion) budget

Call for reining in food inflation and raising investment in pre-Budget talks

Finance Minister Nirmala Sitharaman will start pre-Budget consultations with various stakeholders beginning Friday as part of Budget making exercise. The first meeting as part of this series will be held with eminent economists on December 6. Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector on December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament on February 1. This would be the eighth straight Budget of Sitharaman and second full budget of the Modi 3.0 government, which will give policy direction for achieving the goal of Viksit Bharat (developed India) by 2047. The pre-Budget consultations will end on December 30 with consultations with captains of Indian industry and players in the social secto

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French Prime Minister Michel Barnier is bracing for a no-confidence vote this week, a political reckoning almost certain to topple his fragile government and send shockwaves across the eurozone. Barnier on Monday invoked a rarely used constitutional mechanism to push through the contentious 2025 budget without parliamentary approval, arguing it was essential to maintain stability amid deep political divisions. The move immediately drew sharp backlash, with Marine Le Pen's far-right National Rally and the leftist New Popular Front both filing no-confidence motions in response, setting the stage for a vote as early as Wednesday that could see Barnier's ouster. The looming showdown unfolds against the backdrop of a fractured National Assembly, left in disarray after June's snap elections delivered no clear majority. President Emmanuel Macron had turned to Barnier in September to navigate the impasse and address France's soaring deficit. Yet Barnier's proposed austerity budget slashin

The Andhra Pradesh government is expected to present the state budget on Monday, during the assembly session starting tomorrow, according to official sources. The budget is expected to be presented with just over four months remaining in the FY 2024-25. The TDP-led NDA government had previously promulgated an ordinance approving a Vote-on-Account budget of Rs 1.3 lakh crore for the period from August to November. Earlier, the previous YS Jagan Mohan Reddy-led YSRCP government had presented a Vote-on-Account budget in February covering April to July, ahead of the state polls. As a result, two Vote-on-Account budgets have accounted for the majority of this financial yeareight months in total. According to the August 1 ordinance by the TDP-led government, the state opted for another Vote-on-Account budget for four months (August to November) due to the new NDA government taking office. The other constituents of the coalition government are Janasena and the BJP. Meanwhile, the Financ

British Treasury chief Rachel Reeves is announcing 40 billion pounds in tax hikes in her first budget, saying she will use the money to invest, invest, invest and get the economy growing. Reeves is delivering the first budget from the UK's Labour Party government since it took power in July. She says the tax increases are needed because of the economic black hole left by the previous Conservative government. She told lawmakers, I am restoring stability to our public finances and rebuilding our public services. The centre-left party was elected July 4 after promising to banish years of turmoil and scandal under Conservative governments, get Britain's economy growing and restore frayed public services.

The spate of welfare schemes and guarantees announced by the Eknath Shinde-led Maharashtra government is unlikely to dent the state's financial position, a domestic rating agency said. Icra Ratings' chief economist Aditi Nayar also expects that there will not be a "runaway increase" in spending even though the "rhetoric may be very high". She explained that Maharashtra fares well on the state debt front, and the leverage levels are among the lowest in the country. Concerns have been raised in the recent past over schemes like the Rs 46,000-crore Ladki Bahin Yojana of providing cash handouts to women or the decision to discontinue tolls for cars while entering or exiting the financial capital. The rating agency's assistant vice president Neetika Shridhar said Maharashtra has a sizeable amount of fiscal space because it has not been doing a lot of welfare spending in the last few years, which can limit the sacrifices that it may have to make to accommodate the financial pressure comi

Capital expenditures across 18 states declined by 6% year-on-year between April and August in FY25, totalling Rs 1.67 trillion, down from Rs 1.78 trillion during the same period the previous year

Unfunded commitments for spending are just as bad (as unfunded tax cuts) and likely to have the same impact on the economy.

Union Minister Kamlesh Paswan on Thursday said that the Centre has made a three-fold increase in the budget for the northeastern states to help the region catch up with the development in other parts of the country. Paswan, the minister of state for rural development, participated in the Solung festival at Ruksin in East Siang district of Arunachal Pradesh and said the central government is committed to fast-track development projects in the northeastern states. "Visible changes are taking place in areas of power, education, healthcare, agriculture, tourism, road and air connectivity, infrastructure, etc. We must make efforts to take central and state-sponsored schemes to poor people and deliver services to them, Paswan said. The minister also said Arunachal Pradesh is a special place for him and joining the festival has allowed him to experience the rich culture and traditions of the Adi community. Paswan urged the people to share their unique culture through the promotion of ...

India remains committed to reducing the budget deficit over the medium term, despite its focus on higher public capex and demands of the coalition government, Fitch Ratings said on Tuesday. In a report, it said India has achieved or outperformed its budget deficit targets in the last few years, thereby improving its fiscal credibility. Fitch said India using RBI dividend to lower its fiscal deficit target for the fiscal year ending March 2025, reinforces its view that the country prefers fiscal consolidation over additional spending. Still, India's deficit, and interest-to-revenue and debt ratios remain high compared with the 'BBB' category sovereign peers, Fitch said. "...we believe its (India) government remains committed to reducing the budget deficit over the medium term, even amid the demands that governing in the coalition will impose on the newly elected administration - and despite the government's sustained focus on supporting economic growth through higher public capex,"

The first supplementary budget of Rs 5,013.05 crore for the ongoing fiscal was tabled on Thursday in the Uttarakhand Assembly here, making substantial provisions for public welfare projects. "Our government is dedicated to public welfare. In the main annual budget, we brought several important projects. In this supplementary budget also, we have made significant provisions for public welfare projects, state finance minister Premchand Aggrawal said while presenting it in the house on the second day of its ongoing monsoon session. The size of the supplementary budget is Rs 5,013.05 crore, which includes a revenue expenditure of Rs 3,756.89 crore and a capital expenditure of Rs 1,256.16 crore. It makes a provision of Rs 1,804.82 crore for resource-related projects, out of which Rs 1,531.65 crore are meant for centrally aided and Rs 273.17 crore for externally aided projects, he said. A provision of Rs 718.40 crore has been made in the budget for the State Disaster Response Force, he .

The economic growth that we envisage for becoming a high-income country cannot be achieved if our cities are not planned in a way to reach their maximum potential

The Supreme Court bench said that it will stop freebies offered by the Maharashtra government if the state fails to pay up the due compensation by August 28

The Budget's plan for eastern India's growth is crucial, but this isn't going to be a sprint-it's a marathon

RBI Monetary Policy Meeting 2024: Catch all the latest highlights on RBI's monetary policy announcements here

Ashwini Vaishnaw's strong response came after Congress MP Gaurav Gogoi criticised him for not taking moral responsibility for train accidents and called him the 'derailment minister'

Regional votes are also important because they determine a party or alliance's strength in the upper house of parliament

The Centre has set up an internal committee to evaluate the benefits of the 15% concessional tax rate scheme for new domestic manufacturing units, introduced in FY20