Page 10 - Budget

Governance, development, performance key themes for Budget 2024-25: FM

We're not just aligning with fiscal consolidation path but bettering it: FM

Budget: Defence allocation at Rs 6.21 trillion, but stays below 2% of GDP

As a percentage of government expenditure, the budget allocated to defence is 13 per cent, continuing a multi-year trend of falling allocations

Thumbs-up for 'guarantee': Budget hits a sweet spot, says PM Modi

He listed some proposals for the middle class, such as rooftop solarisation and "income tax remission" under which the government will withdraw old disputed direct tax demands

Interim Budget: Fiscal consolidation hits 26 of 37 welfare schemes in FY24

The interim Budget showed the total revised estimates (RE) for these 37 schemes fell by 6 per cent to Rs 4.41 trillion in FY24 from the budget estimate (BE) of Rs 4.69 trillion

Budget at a glance: Here're the key numbers from interim Budget 2024

FM Sitharaman emphasised India's growing popularity as a global tourist destination as well as its booming domestic segment, spanning from business to spiritual tourism

Interim Budget 2024-25: Infrastructure likely to get a capex thrust

Increase in outlay in line with industry expectations

Interim Budget 2024-25: Debt fund managers cheer lower borrowing

The decline in bond issuances will further improve the demand-supply dynamic, say money managers

Interim Budget: Share of capex allocation jumps to 30-year high in FY25

The headline figure of Rs 11.1 trn is 11.1% higher than FY24, says Finance Minister

Interim Budget: Tax-GDP ratio projected to be highest in FY25 since 2008-09

Personal income tax is the only tax that was shown to collect more in RE for this financial year

Absence of surprises in Budget: Mkts flat as investors look for triggers

The Sensex ended the session at 71,645, a decline of 107 points or 0.2 per cent, while the Nifty50 index fell 17 points, or 0.08 per cent, to end 21,709

Tax benefits extension to startups till Mar 2025 progressive move: Industry

The interim Budget announcement related to the extension of tax benefits to startups by one more year till March 2025 underlines the government's commitment towards creating a conducive environment for startup development and sustainable investments, the industry said on Thursday, terming it a progressive and encouraging move. "...the extension of tax benefits until March 2025 for startups, sovereign wealth, and pension funds signify a government committed to supporting growth and resilience. The prolonged tax benefits indicate a steady commitment to creating a conducive environment for startup development and sustainable investments," MobiKwik Founder and CEO Bipin Preet Singh said. CEO and Co-Founder of magicpin Anshoo Sharma lauded the move saying it would provide much-needed continuity and inflows to the Indian startup ecosystem. "We also appreciate the extension of tax benefits to startups on investments made by sovereign wealth or pension funds to 31.03.2025, this will provide

Interim Budget: Improved fiscal resilience amid modest tax buoyancy

The Interim Budget had assumed nominal GDP growth of 10.5 per cent of GDP, but First Advance Estimates placed it at 8.9 per cent

Demand to rise as Budget proposes to help middle-class buy homes: Realtors

Realtors on Thursday hailed the Budget proposal of launching a scheme to help middle-class people buy or build their own homes, saying this will boost demand for residential properties and help in the overall growth of the real estate sector. In the interim Budget for 2024-25, Finance Minister Nirmala Sitharaman announced that the government will launch a scheme to help deserving sections of the middle class 'living in rented houses, or slums, or chawls and unauthorised colonies' to buy or build their own houses. She also said 2 crore more homes will be built for the rural poor in the next five years under the continuing PM Awas Yojana (Grameen). Commenting on the Budget proposals, CREDAI President Boman Irani said these initiatives are "encouraging and will aid in the growth of the housing market". Sustained focus on infrastructure development will further boost growth in the housing sector, he said. With tax rates remaining unchanged, Irani said the common man will not have ...

Govt extends animal husbandry infra fund worth Rs 29,610 cr till 2025-26

The Union Cabinet on Thursday extended the Animal Husbandry Infrastructure Development Fund (AHIDF) till 2025-26. In June 2020, the government had approved setting up of AHIDF worth Rs 15,000 crore. According to an official statement on Thursday, the Cabinet approved the "continuation of Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under Infrastructure Development Fund (IDF) with an outlay of Rs 29,610.25 crore for another three years up to 2025-26." The scheme will incentivize investments for dairy processing and product diversification, meat processing and product diversification, animal feed plant, breed multiplication farm, animal waste to wealth management (Agri-waste management) and veterinary vaccine and drug production facilities. "Government of India will provide 3 per cent interest subvention for 8 years including two years of moratorium for loan up to 90 per cent from the scheduled bank and National Cooperative Development Corporation (NCDC)

Interim Budget: Rama's radiance in FM Sitharaman's six yards of optimism

The Opposition made only half-hearted efforts to interrupt the speech and did not appear to notice that in the Budget speech, the Prime Minister was quoted five times

Budget 2024: Allocation for Auto PLI rises over seven-fold to Rs 3,500 cr

The government on Thursday announced an over seven-fold increase in allocation for the automotive industry's production-linked incentive scheme for 2024-25 to Rs 3,500 crore, the interim budget documents showed. According to the Expenditure Budget, a sum of Rs 3,500 crore has been earmarked towards the Production Linked Incentive (PLI) scheme for automobiles and auto components in the financial year beginning March, up from a revised estimate of Rs 483.77 crore in the current fiscal. Additionally, the budget for the PLI scheme for advanced chemistry cell and battery storage has been hiked from Rs 12 crore to Rs 250 crore in 2024-25. The Ministry of Heavy Industries recently extended the tenure of the PLI scheme for automobile and auto components by one year, with incentives now applicable for five consecutive financial years starting 2023-24. The Union Cabinet had approved the PLI-Auto scheme on September 15, 2021 with a budgetary outlay of Rs 25,938 crore for a period of 5 years .

Civil aviation ministry to get Rs 2,300 cr budgetary allocation for 2024-25

The budgetary allocation for the civil aviation ministry has come down to Rs 2,300 crore for the next financial year. For the ministry, the allocation in the revised budgetary estimate for the current fiscal ending March 2024 stood at Rs 2,922.12 crore. According to the documents of the interim Budget for 2024-25, the ministry will get an allocation of Rs 2,300 crore, including the revenue component of Rs 2,257.79 crore. Out of the total amount, Air India Asset Holding Ltd (AIAHL) will get Rs 1,158.79 crore in the next fiscal, higher than Rs 713.92 crore allocated for 2023-24. The provision is kept for servicing of loans transferred to AIAHL as a result of financial restructuring of Air India, as per the Budget document. AIAHL is a special purpose vehicle formed by the government that holds various assets of the national carrier Air India. The allocation for Production-Linked Incentive (PLI) Scheme for Drone and Drone Component has been hiked to Rs 57 crore for 2024-25, from Rs 3

Budget focus on infra, connectivity to help real estate growth: Experts

The Interim Union Budget 2024-25 also focused on women's empowerment through housing facilities under the PM Awas Yojna scheme

eCourts Ph-3 project gets Rs 825 cr this fiscal, Rs 1,500 cr for next FY

The phase-III of the ambitious eCourts project, which seeks to upgrade the lower judiciary's digital infrastructure, has been allocated Rs 825 crore this fiscal after the revised estimates, while an enhanced sum of Rs 1,500 crore has been allocated for the next financial year. The phase-III received a Cabinet nod in September last year with a financial outlay of Rs 7,210 crore. According to the revised estimates for 2023-24, the Law Ministry has been granted Rs 825 crore for the Phase III of the project. The project will get Rs 1500 crore, according to the budget estimates for 2024-25. This phase of the the project, which is to be implemented over four years, will see digitisation of entire court records, both legacy and pending cases, at an estimated cost of Rs 2,038.40 crore. A total of 3,108 crore documents will be digitised, official sources had said. The eCourts Mission Mode Project has been described by the government as the prime mover for improving access to justice using

Budget 2024: Govt to keep spending on border roads after 30% overrun

The countries have been in a military standoff since July 2020 when at least 24 Indian and Chinese troops were killed in the worst clashes between the two sides in five decades