Page 7 - Finance Minister

Budget 2024: 'FM taking ideas from Congress manifesto', says Jairam Ramesh

Union Budget 2024: Congress leader Jairam Ramesh said the Finance Minister has taken a leaf out of the INC's Nyay Patra 2024, with its internship programme. Here's how the Opposition reacted

From capital gains tax to job creation, understanding Union Budget 2024

Budget 2024: While some of the announcements were on expected lines, many have led to a surprise among investors

Budget 2024: FM Sitharaman reduces fiscal deficit for FY25 to 4.9% of GDP

This is 20 basis points lower than 5.1 per cent announced in the interim budget

Budget 2024: FM announces 3 schemes under employment-linked incentives

Union Budget 2024: Finance Minister Nirmala Sitharaman announced three employment-linked incentive schemes for employees and employers

Rupee rises 4 p to 83.62 against US dollar in early trade ahead of Budget

The rupee appreciated 4 paise to 83.62 against the US dollar in early trade on Tuesday, ahead of the Budget presentation. Forex traders said the local currency gained strength as crude oil prices and the American currency retreated from their elevated levels. Moreover, foreign fund inflows also supported the rupee. At the interbank foreign exchange market, the local unit opened at 83.64, and touched an early high of 83.62, registering a gain of 4 paise from its previous close. On Monday, the rupee consolidated in a narrow range to settle 4 paise higher at 83.66 against the American currency. Forex traders said marketmen will closely watch the Union Budget for further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Finance Minister Nirmala Sitharaman will present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance. The Indian rupee has been down as dollar buying

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

Pre-budget Eco Survey highlights urgent need for agricultural reforms

The pre-budget Economic Survey on Monday underscored the pressing need for comprehensive reforms in India's agricultural sector, citing structural issues that could impede the country's overall economic growth trajectory. The Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, identifies several key challenges facing the agriculture sector, including the need to sustain growth while managing food price inflation, improving price discovery mechanisms, and addressing land fragmentation. "Despite its centrality in India's growth trajectory, the agriculture sector continues to face structural issues that have implications for India's economic growth," the Survey said. According to the document, policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. This dual objective requires careful policy interventions, the Survey noted. Other critical issues highlighted in the report, prepar

Rising obesity a concern, healthier lifestyle must: Economic Survey

Raising concerns over growing obesity and increase of consumption of highly processed foods laden with sugars and fat, the Economic Survey said 54 per cent of the total disease burden in India is due to unhealthy diets. Obesity presents a "concerning situation" and preventive measures must be taken to enable citizens to have a healthier lifestyle, it said. "Obesity is emerging as a serious concern among India's adult population," said the Survey, which was tabled on Monday by Finance Minister Nirmala Sitharaman in Parliament. If India needs to "reap the gains of its demographic dividend, it is critical that its population's health parameters transition towards a balanced and diverse diet", it said. Citing a report from the Indian Council for Medical Research, the Economic Survey observed that the rise in consumption of highly processed foods laden with sugars and fat, coupled with reduced physical activity and limited access to diverse foods, exacerbate micronutrient deficiencies a

Delhi should get Rs 10,000 cr from Rs 2 trillion paid as income tax: Atishi

Ahead of Budget 2024, Delhi Minister Atishi demanded the release of additional funds for Delhi for improving infrastructure across roadways, transportation, and power sectors

Budget 2024: What do women entrepreneurs expect from FM Nirmala Sitharaman?

Union Budget 2024: Experts seek women-centric initiatives that harness their entrepreneurship potential by providing credit opportunities, improve financial literacy and foster skill development

Six new bills listed for Parliament's upcoming session; Om Birla forms BAC

The Centre has listed six new bills for introduction, including the one which seeks to replace the 90-year-old Aircraft Act, to provide enabling provisions for ease of doing business in the aviation sector, in the upcoming Parliament session beginning Monday. Besides the Finance Bill, the government has also listed 'The Disaster Management (Amendment) Bill' for introduction, consideration and passing. The proposed legislation aims to bring more clarity and convergence in the roles of different organisations working in the field of disaster management, a Lok Sabha bulletin issued Thursday said. The Bhartiya Vayuyan Vidheyak, 2024 seeks to replace the Aircraft Act of 1934 to provide enabling provisions for ease of doing business in the civil aviation sector. The session beginning July 22 will conclude on August 12. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on Tuesday, July 23. Other bills listed for introduction and passage during the session are

Budget 2024: Capital markets eyeing hike in STT on high-frequency traders

Union Budget 2024: The Securities Transaction Tax (STT) applies to every sale and purchase of equities listed on exchanges. The STT rate for selling options is 0.017%, while for futures, it is 0.01%

India put up tariff walls. To revive factories, it must bring them down

The jobs crisis in the most-populous nation has assumed alarming proportions. Young graduates are nine times more likely to be unemployed than those who can't read or write

Budget 2024: TDP seeks grants for backward areas, timely Polavaram funding

The Telugu Desam Party raised three demands, including allocation of grants for backward districts, financial assistance for the development of Amaravati, and prompt fund release for Polavaram project

Union Budget expectations highlights: Real estate sector seeks tax relief

Budget 2024 highlights: FM Nirmala Sitharaman is all set to present the Union Budget 2024-25 in the Lok Sabha on July 23

Budget 2024: ICC calls for changes in custom duty to boost manufacturing

Ahead of Budget 2024, to be tabled in the Parliament on July 23, the Indian Chamber of Commerce has called for streamlined customs duties and tax reforms to boost domestic manufacturing

Govt should rationalise customs duty in Budget to boost domestic mfg: ICC

The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for financial year 2024-25 on July 23. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. "There is a need for rationalization of customs duty in these specific sectors in a holistic manner. Huge potential is there to boost domestic manufacturing and make India a global hub for manufacturing," Prabhu said. He added that levies on raw materials impact domestic players particularly the downstream firms. He also asked for correction in inverted duty structure by cutting down duty on mixed petroleum gas from 5 per cent to 2.5 per cent. "To boost domestic manufacturing, there is

Budget 2024: Rail budget may see more focus on passenger capacity, safety

Ashwini Vaishnaw recently announced that the national transporter will manufacture 10,000 non-air-conditioned coaches over the next two financial years

Budget 2024: Govt likely to announce steps to enhance pulse production

Union Budget 2024: Finance Minister Nirmala Sitharaman will present the Budget in the Lok Sabha on July 23

Govt may cut borrowings by Rs 50-75K cr in FY25 Budget: Axis Bank treasurer

In the interim budget, the government announced a gross borrowing of Rs 14.13 trillion, with a fiscal deficit target of 5.1 per cent of the gross domestic product