Page 22 - Budget

Mizoram CM presents Rs 14,209 cr zero-deficit budget; no new tax proposals

Mizoram Chief Minister Zoramthanga on Monday presented in the assembly a zero-deficit and non-surplus annual budget for the financial year 2023-24 with a total outlay of Rs 14,209.95 crore. There was no proposal for levying new taxes or hiking the existing tax rates. The chief minister also tabled supplementary demands for the current fiscal (2022-2023) amounting to Rs 3,265.69 crore. The total budget outlay was Rs 14,008 crore in the last financial year. Zoramthanga, who also holds the finance portfolio, said that emphasis was laid on the Socio-Economic Development Policy (SEDP) and Rs 595 crore was allocated to it for the 2023-24 fiscal. The SEDP is the flagship programme of the Mizo National Front (MNF) government which aims at bringing sustainable development by accelerating progress in key sectors through exploration and judicious use of resources. "Out of Rs 595 crore, I commit to allocate Rs 300 crore under family-oriented SEDP for the year 2023-24," Zoramthanga, who also h

Rajasthan Budget: CM announces inflation relief package of Rs 19,000 crore

Rajasthan Chief Minister Ashok Gehlot announced an inflation relief package of Rs 19,000 crore in the state's Budget for 2023-24 to provide relief to the masses from rising prices. The package includes free food packets every month to poor families, LPG cylinders for Rs 500 under the Ujjwala Scheme and free electricity up to 100 units per month to domestic consumers. Gehlot, who also holds the finance portfolio, announced to increase the coverage amount from Rs 10 lakh to Rs 25 lakh annually per family in his ambitious Chiranjeevi Swasthya Bima Yojana. "I announce to give free Chief Minister Annapurna food packets every month along with free ration to about one crore families coming under the purview of the National Food Security Act," he said. "One kilogram pulses, sugar, salt and one litre edible oil will be made available in this packet. About Rs 3,000 crore will be spent on this," he added. The Congress leader further said, "About 76 lakh families included in the BPL and the .

PM Narendra Modi should focus on people, not only on big projects

What must be even more confounding is how Indian leaders appear able to get away with budget math other politicians cannot, whether economically or politically

Green growth push

New initiatives have long-term potential

Budget 2023 proposals will put India firmly back on the FII's radar

The measures, overall, will push private capex higher at a time when the global economy is facing recessionary headwinds, says Andrew Holland

Union Budget to be pro-people, will boost economic growth: Basavaraj Bommai

Karnataka Chief Minister Basavaraj Bommai on Wednesday said that the Union Budget 2023 will be a "pro-people" budget that will support the growth of the economy

Union Budget: 'Allocate funds to encourage women's participation in sports'

India's Union Budget for 2023-24 must lay emphasis on strengthening country's sports infrastructure in non-metro cities, improving girl's participation in sport and investing in young sportspersons at the grassroots level, said sports scholar & team owner of Gurgaon InCredibles at LastManStands, Aman Dhall in his pre-budget expectation from the government.

Congress to hold MPs' meeting ahead of Budget presentation in Parliament

Congress has convened a meeting of its Lok Sabha MPs ahead of the budget presentation in Parliament to devise strategy

Union Budget 2023 to incorporate every section's expectations: MoS Finance

Ahead of the presentation of Union Budget 2023-24 in the Parliament, Minister of State for Finance Pankaj Chaudhary said that the budget will incorporate the expectations of every section of society

Understanding budget receipts and the role they play in govt finances

Capital receipts are non-recurring and either create a liability for the govt or deplete its assets; revenue receipts are recurring and do not entail any risk for the govt

UP claims development, but budget allocations remain unspent: Report

Allocated funds, if not used within a given financial year (when the budget is passed), are not carried over to the next financial year

States do Centre a good turn

A sharp reduction in states' deficit augurs well for the Centre's fiscal planning

Increase tax rebate benefits for consumption expenditure in Budget: PHDCCI

Industry body PHDCCI sought increase in the tax rebate benefits for consumption expenditure, reduction in the cost of doing business and hassle free disbursement of loans at affordable rates

Best of BS Opinion: Conservative budgeting, financialising economy & more

Here is the best of Business Standard's opinion pieces for today

Conservative budgeting

Fiscal space should be used carefully

What is in a number?

The system of releasing numerous GDP growth estimates over three years calls for an overhaul. Budget making will also benefit as a result

PM Modi to hold pre-Budget meeting with economists, sectoral experts

Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also be attended by several Union ministers. Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023 Hit by weakening demand, the Indian economy is expected to grow at a slower rate of 7 per cent in the current fiscal ending March 2023, setting the stage for the country losing the fastest-growing major economy tag. The 7 per cent expansion projected in the first official estimate released by the statistics ministry compares with 8.7 per cent gross domestic product (GDP) growth in 2021-22. The projections are much lower than government's earlier forecast of 8-8.5 per cent growth but above the Reserve Bank's projection of 6.8

Budget should avoid subsidies and protection to biz

Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term

Opportunities and choices in the Budget

Fiscal consolidation is needed if India is to seek sustainable private sector-led growth

Infra brushstrokes for the Budget

There are seven key areas that the FY24 Budget needs to address to re-energise the infrastructure sector