Page 4 - Budget And Economy

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

Union Budget 2024: FM Sitharaman announces Rs 26,000 cr aid for Bihar

India Budget 2024: Finance Minister Nirmala Sitharaman said that the Centre will support setting up a 2400 MW power project in Bhagalpur at the cost of Rs 21,400 crore as well

Budget 2024: FM cuts basic customs duty on mobile phones, chargers to 15%

Reduction in BCD on these items was a major demand from the electronics manufacturing bodies

Union Budget 2024: Here are the key highlights from FM Sitharaman's speech

Finance Minister Nirmala Sitharaman's Union Budget 2024 speech focused on increased spending, job creation, and tax reforms

FM's Budget speech more focused on posturing than action, says Congress

The Congress on Tuesday claimed that the government seems to have finally come around to "tacitly admitting that mass unemployment is a national crisis" that requires urgent attention, as it slammed Finance Minister Nirmala Sitharaman's budget speech as being "more focused on posturing than action". The opposition party's assertion came after Sitharaman in her budget speech announced that the government will launch three employment-linked schemes. These schemes will be based on enrolment in the Employees' Provident Fund Organization (EPFO), Sitharaman said in the Lok Sabha. Congress general secretary in-charge communications Jairam Ramesh said, "After ten years of denial -- where neither the non-biological PM nor his party's Lok Sabha Elections Manifesto would even mention jobs -- the Union Government seems to have finally come around to tacitly admitting that mass unemployment is a national crisis that requires urgent attention." "It's far too late, and as it turns out, far too ..

FM hikes short & long term capital gains tax, Sensex & Nifty crack

Short-term capital gains tax raised to 20%, long term to 12.5%

Well-focused Budget 2024 with special development thrust: Madan Sabnavis

Union Budget 2024-25 news: There has been some comfort provided to individuals who opt for the new income tax scheme as there is some rationalisation across the slabs

Budget 2024: Govt keeps infra spend target unchanged at record Rs 11.11 trn

The government has doubled spending on infrastructure over the past three years as a way to boost the economy

Budget news: A look at landmark Union Budget announcements in the past

From the introduction of wealth tax to economic liberalisation to privatisation, here is a look back at landmark Union Budgets

Budget 2024: FM Sitharaman, her team spotted with 'Bahi Khata'. WATCH

Budget 2024: Sitharaman in her inaugural Budget presentation in 2019, had introduced the 'Bahi Khata' to carry the Budget documents, replacing the traditional leather briefcase

Budget 2024: When and where to watch Sitharaman's speech; other key details

Union Budget 2024-25 will be the seventh consecutive budget presentation by Sitharaman, a record streak by any finance minister of India, marking a key historical milestone.

FM Sitharaman's record 7th Union Budget presentation: All you need to know

Finance Minister Nirmala Sitharaman is set to make history with her seventh consecutive Union Budget presentation today, laying out Modi 3.0's fiscal plan for the India Budget for FY25

Govts should renounce some powers to help improve governance: Eco Survey

The finance ministry's Economic Survey on Monday suggested that governments renounce some of their powers as it would be good for 'both the governed and the governing'. Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 a day before the Union Budget in the Lok Sabha. While contemplating the challenges that lie ahead, one should not be daunted because the social and economic transformation of democratic India is a remarkable success story, the document, authored by a team lead by Chief Economic Advisor V Anantha Nageswaran, stated. "We have come a long way. The economy has grown from around USD 288 billion in FY93 (1992-93) to USD 3.6 trillion in FY23," it said. India has generated more growth per dollar of debt than other comparable nations and abject poverty has all but been eliminated. Human development indicators have improved, and more Indians, especially women, are getting educated, the 476-page document said. "However, it would be a missed opportunity --

Eco Survey updates: FM Nirmala Sitharaman on Monday presented Economic Survey 2023-24 in Lok Sabha

Economic Survey 2024 LIVE news: The Economic Survey stated that short-term inflation outlook benign, but India faces persistent deficit in pulses

19.2 mn foreigners visited India in 2023, up from 1.05 mn in 2021: Govt

A total of 1.92 crore foreign tourists visited India last year, a jump from 10.54 lakh in the pandemic year of 2021, according to the Tourism ministry. Responding to a question in Lok Sabha, Culture and Tourism Minister Gajendra Singh Shekhawat gave data of foreign tourist visits (FTVs) to India from 2021 to 2023. According to the data, 1,92,45,817 foreign tourist visits were recorded in 2023, while the number stood at 85,87,562 in 2022, and 10,54,642 in 2021. Delhi saw a remarkable rise from 1,00,178 FTVs in 2021 to an estimated 18,28,116 FTVs in 2023. Similarly, Goa's foreign tourist arrivals jumped from 22,128 in 2021 to 4,52,692 in 2023. Maharashtra experienced one of the highest increases, with FTVs growing from 1,85,643 in 2021 to an estimated 33,87,739 in 2023. Smaller states and UTs also reported significant growth. The Andaman & Nicobar Islands saw an increase from 1,687 FTVs in 2021 to 9,025 in 2023. Arunachal Pradesh, which had only 182 FTVs in 2021, welcomed 4,496 i

Fast capacity, energy efficiency among focus areas for Railways: Eco Survey

Fast capacity augmentation, modernisation of rolling stock, and energy efficiency are among the key focus areas for Railways, the Economic Survey 2023-24 said, highlighting Outlook's for Railway, on Monday. "In line with this, investments are prioritised in areas like dedicated freight corridors, high-speed rail, modern passenger services like Vande Bharat, Amrit Bharat Express, Aastha Special Trains, high-capacity rolling stock and last-mile rail linkages," the Survey said. It said that the Railways is planning projects for three major corridors -- High-traffic density corridors, Energy, Mineral and Cement Corridors, and Rail Sagar (port connectivity) corridors -- to reduce logistics cost and carbon footprint. The survey said that the Railways has planned to reduce its carbon footprint primarily through sourcing its energy requirements through renewable energy sources. "The expected requirement of installation of renewable capacity by 2029-30 is around 30 Giga Watts. Other strateg

Remove food from inflation-targeting framework, explore options: Eco Survey

The Reserve Bank should stop looking at food inflation in deciding interest rates and the government should explore giving coupons or direct cash transfer to poor to deal with higher food prices, the pre-Budget economic survey said on Monday. While the inflation rate has moderated in recent months, the RBI has refrained from cutting benchmark interest rates -- which decide the rate at which home, personal and corporate loans are given by banks -- citing elevated food inflation. India introduced the inflation-targeting framework in 2016 under which the Reserve Bank of India (RBI) is mandated to keep retail inflation at 4 per cent, with a margin of 2 per cent on either side. The benchmark policy rates are decided bi-monthly by the RBI on the basis of movement in consumer price index, which includes food, fuel, manufactured goods and select services. "India's inflation targeting framework should consider targeting inflation, excluding food. Higher food prices are, more often, not ...

Stock Market Highlights, July 22: Sensex, Nifty end flat ahead of Budget; RIL, Wipro sink up to 9%

Stock Market Highlights on July 22: In the broader markets, the BSE MidCap, and SmallCap indices snapped their two-day losing run to settle 1.3 per cent and 0.85 per cent higher, respectively

Unique tax payers trading on NSE more than tripled since pandemic

Numbers are 40 per cent lower than the number of overall investor accounts