Page 18 - Budget

Budget 2024: Budget preparation, its purpose, halwa ceremony, presentation

Union Budget 2024: Preparing the Budget is a long-drawn process which involves multiple steps and consultations. Read on to find out how it is done

Budget Speech: All you need to know about the FM's address to Parliament

Here is everything you need to know about what a Budget speech ahead of the Union Budget 2024, the different parts it has, Budget at a Glance, Finance Bill, and more

Budget 2024: Here are 5 lesser-known facts about the Union Budget of India

The history of India's Union Budget over the years is a fascinating one. Here's a look at some lesser-known facts about the Union Budget

No 'spectacular announcements' in interim Budget, says FM Sitharaman

"Budget that will be announced will just be a vote on account because we will be in election mode, and elections will happen during the coming summer", the FM said

No 'spectacular announcement' likely in Feb 1 Budget, says finance minister

Finance Minister Nirmala Sitharaman on Thursday said the budget to be presented on February 1, 2024 would not have any "spectacular announcement" as it would be a vote on account in run up to the general elections. "It is a matter of truth that February 1, 2024 budget that will be announced will just be a vote on account because we will be in an election mode. So the budget that the government presents will just be to meet the expenditure of the government till a new government comes to play," she said. Speaking at the CII Global Economic Policy Forum, Sitharaman said the country would be preparing for the Lok Sabha elections which are due in the summer of 2024. Hence the February 1 budget, following the British tradition, is called vote on account. "No spectacular announcements come in that time (in vote on account). So you will have to wait till after new government comes in and presents next full Budget in July 2024," Sitharaman said. On February 1, 2024, Sitharaman will presen

Despite subsidies, Budget maths sticks as Sitharaman enters home stretch

A crucial decision government has to take is whether to stick to the FY23 expenditure level or top it this year

Verdict 2023: State poll outcome blueprint for interim Budget 2024-25

The effective containment of the fiscal deficit in the first half of FY24 provides the government with leverage to announce pro-people schemes in the interim Budget

UP govt tables supplementary budget of Rs 28,700 crore for new projects

State's annual budget size burgeons to Rs 7.18 trillion in FY24

Putin signs Russia's largest national budget, bolstering military spending

Russian President Vladimir Putin on Monday signed a national budget for the next three years that increases spending by around 25 per cent and reportedly devotes a record amount to defense as the the country's military operation in Ukraine drags on. The budget foresees spending in 2024 of 36.6 trillion rubles ( USD 415 billion) with an expected deficit of 1.595 trillion rubles (USD 9.5 billion). After the budget was passed by the lower house of the parliament, Speaker Vyacheslav Volodin said it was developed specifically to fund the military and to mitigate the impact of international sanctions imposed after Russia sent troops into Ukraine in February 2022. Record low unemployment, higher wages and targeted social spending should help the Kremlin ride out the domestic impact of pivoting the economy toward the military, but could pose a problem in the long term, analysts say. Part of the Russian budget is secret as the Kremlin tries to conceal its military plans and sidestep scrutin

States to miss capex targets this fiscal on fall in revenue, polls : Report

Several states are likely to miss their capital expenditure targets for the ongoing fiscal due to polls and fall in revenue, according to an analysis. A steep fall in revenue receipts will further lead to a major compression in state capex, which during the first half of FY24 rose to a record 35 per cent, Icra Ratings Chief Economist Aditi Nayar said. To maintain their Budget estimates, 21 states -- whose capex and other macro data is available -- will have to ensure that the capex run run rate is maintained at 28 per cent in the second half, which is unlikely, since model code of conduct is likely to take effect in the March quarter before the general elections, Nayar said. The combined revenue and fiscal deficits of these 21 states widened to Rs 70,000 crore and Rs 3.5 lakh crore, respectively, in the April-September period, from Rs 50,000 crore and Rs 2.4 lakh crore, respectively, in the year-ago period. The report excludes Arunachal Pradesh, Assam, Goa, Manipur, Meghalaya, ...

German budget crisis deepens with freeze on new spending commitments

Existing liabilities will be honored but new commitments can be unblocked only in exceptional cases, according to a letter sent to government ministries

Centre may moderate FY25 disinvestment target amid limited asset sales

The FY24 Budget Estimate of Rs 51,000 cr expected to be halved

How interim Budget became a potent tool in the hands of poll-bound govts

Former Lok Sabha Secretary-General PDT Achary says it is not appropriate for a government facing elections to announce programmes and policy changes for the next year

No major problem with central govt finances: RBI governor Shaktikanta Das

Governor Shaktikanta Das on Friday said the RBI does not see "any major problem" or any other worries with the central government finances. The government has promised to stick to the fiscal deficit targets laid down in the budget as part of the consolidation roadmap, Das told reporters at the RBI headquarters at the customary post-policy press conference. Replying to a specific question on the state of government finances, Das said, "So far as central government finances are concerned, I do not see any major problem or anything that you know that worries the central bank". He said the government is, by and large, sticking to the fiscal consolidation roadmap after the end of the pandemic, which had seen some expansion because of the high spending. Even during the pandemic, the government's spending was "calibrated and targeted", Das noted. "After the pandemic, the government has announced a fiscal consolidation roadmap. And by and large, they're sticking to that," he said. The ..

Securities transaction tax collection likely to go past Budget target

Collection in H1 over 50% of BE of Rs 27,625 cr

Delhi budget: Govt begins preparing revised estimates for 2023-24

The Delhi government has begun preparing the budget estimate for the 2024-25 fiscal and the revised estimate for 2023-24 and directed all departments to furnish realistic targets. In a circular to all the departments on September 25, the Finance Department said that the departments should send the estimates by October 13 in prescribed format. "The Finance Department has initiated the process of preparation of the Revised Estimates (RE) for 2023-24 and Budget Estimates (BE) for 2024-25," read the circular. It also said meetings regarding budget estimates and revised estimates will start from the last week of October. "Revised Estimates/Budget Estimates should be formulated taking a realistic assessment of the requirement of funds which can be utilized by the department during the financial year," it said while highlighting some of the discrepancies which have continued to occur in framing of Budget Estimates by the departments. According to the circular, it has been noticed earlier

States, UTs to raise Rs 2.37 trn in Q3FY24 through market borrowings: RBI

Aditi Nayar, chief economist, ICRA, said the indicative borrowing amount for Q3FY24 is broadly along expected lines

Preventing the mistakes of 2019

Interim Budget projections for 2024-25 should conform to standard practices of transparency, pragmatism and caution

Pre-Budget consultations to start from 10 October 2023, says govt

The department of economic affairs has asked the ministries to ensure that their data for the pre-Budget discussion is ready and filed by October 5

Corporate tax collections seen in line with budget estimates: Ajay Seth

Corporate tax collections between April and July fell 10% to 1.76 trillion Indian rupees ($21.20 billion) from a year earlier, government data showed