Page 3 - Budget And Economy

Budget 2024: FM Sitharaman continues with push for spiritual tourism

The government will also start a comprehensive development initiative for the city of Rajgir in Bihar, which holds immense religious significance for Hindus, Buddhists and Jains

Parliament highlights: Not possible to name every state in budget, says FM Nirmala Sitharaman

Lok Sabha and Rajya Sabha news: Catch all the news updates related to the developments in the Parliament here

Union Budget 2024-25 significant milestone for country, says Sicci

The Union Budget 2024-25 is a significant milestone for India, with its focus on skills development, higher education, and the empowerment of youth and women, said the Singapore Indian Chamber of Commerce and Industry (SICCI) on Wednesday. "These initiatives are crucial in preparing the Indian citizenry to tackle the economic challenges of the future," SICCI Chairman Neil Parekh said, commenting on the latest financial package designed to drive the Indian economy forward. "SICCI lauds these efforts announced by India's Finance Minister Nirmala Sitaraman. It commends the Indian government under the leadership of Prime Minister Narendra Modi for its foresight in preparing the younger generation to take India to even greater heights," said Parekh. The Budget has allocated Rs 1.48 lakh crore for education, employment, and skill development initiatives in the country, demonstrating the government's commitment to empowering the youth and enhancing their skills for better employment ...

Budget 2024 is growth oriented, addresses right sectors: Vikas Khemani

Union Budget 2024 analysis: The government has laid out a clear vision for 'Viksit Bharat' by addressing key areas - agricultural reforms, manufacturing push and employment generation among others

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

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: Well-defined, well-responsible Budget, says Usispf Ceo Aghi

Describing the maiden budget of Modi 3.0 as a very well defined and responsible budget, the head of a India-centric American business and strategic advocacy group on Tuesday said that it would help in attracting more foreign direct investment and propel India's growth story. I think (it is) a very well-defined budget, a very well-responsible budget. We compliment the prime minister and the finance minister for delivering their budget, Mukesh Aghi, president and CEO of US India Strategic and Partnership Forum (USISPF) told PTI in an interview. When you look at the preliminary analysis of the budget, one thing is the budget is focused on job creation, is focused on skilling and is focused on attracting FDI into the country, he said responding to a question on the annual budget presented by Finance Minister Nirmala Sitharaman in the Parliament on Tuesday. When you look at incentives for the first-time workers, guaranteed one month's salary, that's an important part. The budget is focus

Farm sector hails forward looking budget, Tikait calls it 'empty-handed'

Tikait expressed concern over providing funds for the private sector in agri-research in the name of climate change, letting foreign lobby groups and big corporations push their agenda

Budget 2024: Sensex rebounds 1,200 points from day's lows to end flat

ITC gained 3.8 per cent as there were no changes in the taxes related to tobacco products

Budget 2024: Tax burden on share buybacks shifted to shareholders

Finance Minister proposes to tax income received on buybacks of shares in the hands of recipient

Union Budget 2024-25: Govt abolishes angel tax on startup funding

Capital gains tax rates between listed, unlisted equity aligned

Budget 2024: India to enable VCC structures like Singapore, Mauritius

Industry officials believe that the adoption of the VCC framework has helped Singapore become the hub for international fund management, and a similar move for India will be beneficial

Ignored plight of Manipur amidst flood, violence in Union Budget: Congress

The opposition Congress in Manipur on Tuesday criticised the BJP-led government at the Centre, alleging that it ignored the plight of the state, which not only suffered a major flood but also bore the brunt of ethnic violence, in the Union Budget. State Congress president K Meghachandra alleged that there was a partisan approach in the Budget. "There was a partiality in the budget. The entire Northeast was not taken care of. Manipur was once again neglected. While flood-hit Assam was mentioned, Manipur that witnessed a catastrophic hailstorm and two of the worst floods in more than 20 years was not," he said. "Not providing any aid to more than 60,000 displaced people is also a setback. We are very much disappointed," he said. Meanwhile, the ruling BJP in the state hailed the Budget, asserting that it was dedicated to the holistic and inclusive development of all citizens. In a statement, state BJP spokesperson M Asnikumar said, "To achieve comprehensive social justice, we will em

Budget 2024: Realty gets mixed signals with housing boost, indexation cut

Rs 10 trillion boost for urban housing but indexation removal plays dampener

Budget 2024: How FM Sitharaman's tax changes will impact your finances

Finance Minister Nirmala Sitharaman's Budget 2024 brings a mix of tax reliefs and hikes with key changes including income tax slab restructuring and revised capital gains tax rates

Budget 2024-25 commits reforms to strengthen IBC, strengthen tribunals

Finance Minister says integrated technology platform will be set up for improving bankruptcy code outcomes

Budget 2024: Sitharaman's Budget cuts subsidy bill by 7.8% to Rs 3.81 trn

In a move that signals fiscal prudence, the government reduced its subsidy outlay for food, fertiliser, and fuel by 7.8 per cent in the full Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday. The total subsidy allocation stands at Rs 3,81,175 crore for the current fiscal, down from the previous year's figure of Rs 4,13,466 crore. This reduction aligns with the estimates projected in February's interim budget. Breaking down the allocations, the food subsidy has been set at Rs 2,05,250 crore, a decrease from the revised estimates of Rs 2,12,332 crore for the fiscal ending March 31, 2024. This subsidy covers the difference between the economic cost of foodgrains procured by the government and their sales realisation under the National Food Security Act (NFSA) and other welfare schemes, benefiting approximately 80 crore individuals. The fertiliser subsidy has seen a more significant cut, with Rs 1,64,000 crore earmarked for 2024-25 against

Census, NPR unlikely in 2024 too as only Rs 1,309.46 cr allocated in Budget

The Budget 2024-24 on Tuesday allocated Rs 1,309.46 crore for census, a significant reduction from 2021-22 when Rs 3,768 crore was allocated for the decadal exercise, an indication that it may not be carried out even after a significant delay. A meeting of the Union cabinet on December 24, 2019 had approved the proposal for conducting census of India 2021 at a cost of Rs 8,754.23 crore and updating the National Population Register (NPR) at a cost of Rs 3,941.35 crore. The house listing phase of the census and the exercise to update the NPR were scheduled to be carried out across the country from April 1 to September 30, 2020 but were postponed due to the COVID-19 outbreak. The census operation continues to be on hold and the government has not yet announced the new schedule. Officials said since general elections had taken place this year, the census exercise will not be able to be carried out in 2024. According to the Budget 2024-25, Rs 1,309.46 crore has been allocated for censu

3 cancer drugs now exempt from customs duty; X-ray tubes to become cheaper

The Union minister also brought down the customs duty on X-ray tubes used in medical X-ray machines

500% increase in long-term capital gains declarations before tax increase

Short-term capital gains declarations had also been increasing after the pandemic