Page 20 - Union Budget

At Rs 200K, Centre to provide 67% more to build rural homes in plains

Budget documents also showed that for houses that will be being built in hilly and north-eastern states, the per unit allocation has now been enhanced to Rs 220,000 as against the earlier Rs 130,000

In the Lok Sabha poll year, oil companies get marketing Budget boost

Overall capex in the oil sector up by 18.6 per cent to Rs 1.33 trillion

Economic reforms implemented 'despite the odds', says FM Sitharaman

Rating agencies must take note of the country's transparent fiscal consolidation path, FM says

Rating agencies cautious on India's sovereign credit profile post-Budget

Fitch Ratings said that though the interim budget presented was broadly in line with the expectations, it won't change the sovereign credit profile from 'BBB-' with a stable outlook

It's not interim Budget, but 'antim' Budget of BJP govt at Centre: Mamata

West Bengal Chief Minister Mamata Banerjee on Friday dubbed the interim budget for 2024-25 as the antim (last) budget of the BJP government at the Centre, indicating that the saffron party will taste defeat in the Lok Sabha polls this year. Banerjee made the remark during a dharna in Kolkata, which began earlier in the day to demand the state's "dues" from the Centre for various social welfare schemes. "It is not an interim budget, but the 'antim' budget, she asserted. Union Finance Minister Nirmala Sitharaman had tabled the interim budget on Thursday. The chief minister also said her government has submitted utilisation certificates regarding the usage of central funds since 2011, when the TMC assumed power in the state for the first time. Why should we take responsibility for what happened before we came to power, during the Left rule?" she said.

Tax proposals a mixed bag

Unlike recent Budgets, this year most taxpayers are in for a pleasant surprise with rationalisation of rates and slabs, which reduce the effective tax burden. In balance, it's a mixed bag

Fiscal deficit target of 5.1% ambitious but achievable: Finance secretary

Finance Secretary T V Somanathan has said the government's resolve to bring down the fiscal deficit by 70 basis points to 5.1 per cent in 2024-25 is ambitious but achievable in view of the tax buoyancy and expenditure management. Finance Minister Nirmala Sitharaman in the interim Budget presented on Thursday refrained from announcing any populist measures but significantly trimmed the fiscal deficit to 5.1 per cent of the Gross Domestic Product (GDP) next fiscal and 4.5 per cent in FY26. "So it is ambitious but it is also realistic. There are three pillars on which this is based. One is we have assumed growth in tax revenue about 11.5 per cent. I think that's a very realistic assumption," Somanathan told PTI Videos in an interview. Besides, he said, the government has projected a slight increase in non-tax revenue from a high base during the current financial year. On the expenditure side, he said, "Capex has increased 11.1 per cent... the revenue expenditure we believe is ...

Budget announcements to boost India's innovation-led economy: DPIIT secy

Announcements in the interim Budget 2024-25 with regard to deep-tech and startups will significantly help boost India's innovation-led economy, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said on Friday. Singh said the 11 per cent increase in capital expenditure (capex) to Rs 11.11 lakh crore for the next financial year, and the provision to provide Rs 75,000 crore as interest-free loan for 50 years to support reforms by states, will help further improve the country's logistics efficiency, connectivity and cut down the logistics cost. Provisions related to research and development "hopefully trigger some greater private sector investments in R&D. Announcement of a new scheme for strengthening deep-tech technologies is good for startups also... It will give a boost to India's increasingly becoming an innovation led economy," Singh told PTI. Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on ...

Growth rate of about 7% next year eminently doable, says DEA secretary

Economic Affairs Secretary Ajay Seth on Friday said Budget proposals are non-inflationary and will help achieve 7 per cent-plus growth rate for the fourth year in a row in 2024-25. Although there are external risks arising from geo-political tensions, "the growth rate of about 7 per cent next year is eminently doable," Seth told PTI in a post-Budget interview with PTI. Having contracted 5.8 per cent in 2020-21, the Indian economy recorded a growth rate of 9.1 per cent in the following year. The Gross Domestic Product (GDP) growth rate was 7.2 per cent in 2022-23 and is estimated to inch up marginally to 7.3 per cent in the current financial year. The interim Budget 2024-25 projected a nominal GDP growth 10.5 per cent against the 11 per cent for the current fiscal. The nominal GDP for BE 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY24. "The estimates,

Budget 2024: PM GatiShakti to be utilised for 3 major railway corridors

PM GatiShakti aims boost multimodal connectivity while moving towards logistics efficiency and reducing carbon footprint in rail movement

Budget focused on economic resilience, creates opportunities for all

It carefully allocates public resources and commits to reduce the country's fiscal debt

Rooftop solar: You can save Rs 18,000 annually through this scheme

Through rooftop solarisation, one crore households will obtain up to 300 units free electricity every month,

Cong MP asks for higher share in Budget, demands separate nation for south

Karnataka politician DK Suresh threatened a call for separate nationhood for southern states after accusing the Centre of disproportionately distributing share of GST and direct tax funds

PM Modi meets top ministers to discuss govt's strategy in Parliament

The government said that the Budget was presented with a focus on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities

TMS Ep621: Interim Budget, BS Budget analysis, markets, top Budget numbers

Why is this Budget more than interim? Did the interim Budget tick the right boxes? What do fiscal targets mean for bond, equity markets? Top Budget numbers and what they mean. Find out here

FM Sitharaman's interim Budget extends tax benefits in IFSC till March 2025

Proposal will give 'some breather' business set up in GIFT city, she says

Budget: EY India analyses movement of stocks, gives key reasons behind it

The Sensex closed the session at 71,645, marking a decline of nearly 107 points or 0.15 per cent

Budget 2024: Green fuel gets boost, FM presents scheme for biomanufacturing

Cabinet approves marketing margins for domestic gas provided for fertiliser production

Budget fails to enthuse markets: How the Budget affects key sectors

EY India takes a look at how top stocks fared on Thursday when Finance Minister Nirmala Sitharaman presented the Interim Budget for FY25

Decadal perspective of Modi govt: Crowding in private investments

Though better than before, cost overruns remain a concern. Higher allocations for capital expenditure in FY25 despite the emphasis on prudence