Page 5 - Union Budget

Govt changes stance on fiscal consolidation, prioritises debt reduction

Finance Secretary said the figure of 3% for fiscal deficit does not take into account the specific dynamics of a fast growing economy like India

Congress CMs to boycott NITI Aayog meet over 'discriminatory' 2024 Budget

Union Budget 2024: Siddaramaiah (Karnataka), Revanth Reddy (Telangana), Sukhvinder Sukhu (Himachal Pradesh) will boycott the NITI Aayog meeting on July 27

Opposition protests against the Union budget, Meta AI in hindi

Union Budget 2024: R&D, spacetech fund gives deeptech startups a boost

The govt is working on National Deep Tech Start-up Policy as part of its efforts to spur innovation in India's deeptech sector. The policy attempts to address the vital barriers facing the industry

Soren slams BJP-led Centre for 'neglecting' Jharkhand in Union Budget

Jharkhand Chief Minister Hemant Soren on Wednesday slammed the Centre for "neglecting" the state in the Union budget, and alleged that the BJP leaders are "silent" over the dues from the Centre. He also claimed that the Centre owes Rs 1.36 lakh crore to the state and demanded that its dues be paid by the Union government. "Who is guilty of discrimination with the state? The Centre owes Rs 1.36 lakh crore to the state, but every BJP leader is silent on this issue. Give a special package to your crutches - pay us our dues," Soren said on X. He was apparently referring to financial measures, announced by Union Finance Minister Nirmala Sitharaman in her budget proposals on Tuesday, for Bihar and Andhra Pradesh, ruled by key NDA allies -- Nitish Kumar-led JD(U) and Chandrababu Naidu's TDP -- which are providing critical support to the BJP-led government at the Centre. Announcing a host of developmental projects, Sitharaman proposed a total outlay of over Rs 60,000 crore for various ...

INDIA bloc MPs protest in Parliament for discrimination in Union Budget

INDIA bloc MPs, including Congress president Mallikarjun Kharge, Congress Parliamentary Party chief Sonia Gandhi and Leader of Opposition in the Lok Sabha Rahul Gandhi, staged a protest in Parliament premises on Wednesday over the alleged discrimination against opposition-ruled states in the Union Budget. Besides Kharge, Sonia Gandhi and Rahul Gandhi, several MPs of the Congress, TMC, Samajwadi Party, DMK and the Left joined the protest held on the steps leading up to the Makar Dwar of Parliament. Protesting against the budget, Kharge said, "This Budget is anti-people, no one has got justice. They have talked about special package but special status has not been given. This is a deceptive budget and injustice to the people." The MPs raised placards such as 'We want India budget not NDA budget' and 'NDA betrays India in Budget'. "Yesterday, through the budget, the government of India violated all the principles to keep the federal system," Congress general secretary, organisation, K

DPIIT to create timelines for govt agencies for clearance of FDI proposals

The Department for Promotion of Industry and Internal Trade (DPIIT) will formulate strict timelines for different government agencies and departments for clearance of Foreign Direct Investment (FDI) proposals from prioritised sectors, a top official said. DPIIT Secretary Rajesh Kumar Singh said though there is a standard operating procedure (SOP) for these clearances, still there are delays as the SOPs are not being followed. The secretary was responding to the Budget announcement that the rules and regulations for FDI and overseas investments will be simplified to facilitate foreign direct investments, and nudge prioritisation. He said that the concerned ministries and departments will be nudged to prioritise applications and speed up the process of approvals. "The idea is to cut short that (clearance and approval) process, we have not yet decided about the sectors where some liberalisation is possible, but certainly there is a view in the government that the processes, where the

10 takeaways from the Union Budget 2024-25

Pvt sector needs to step up, match govt's efforts: Anand Mahindra

India's private sector needs to step up and match the government's efforts towards job creation and making young people employable, as in the absence of a collective effort, the country's demographic dividend could become a demographic disaster, Mahindra Group Chairman Anand Mahindra said on Wednesday. In his reaction to the Union Budget for 2024-25, he said it shows evidence that the government recognises the importance of growth accompanied by job-creation. "We are the envy of the world in terms of our growth in GDP. We are the preferred destination of the world for investment because of the belief in our future," Mahindra said in a post on social media platform X. He further said, "But the vital task ahead for us is to ensure that this growth is now accompanied by an explosion in job-creation." Mahindra noted that, "Hence for me, the most important element of yesterday's budget was strong evidence that the government recognises this to be its most important mission. And that ...

BJP asks if Rahul Gandhi will apologise after SC verdict on NEET exam

The BJP on Wednesday accused Rahul Gandhi of fuelling lack of trust in India's examination system following the NEET-UG paper leak at a few places, and asked if he will apologise after the Supreme Court's verdict on the issue. The court on Tuesday dismissed the pleas seeking cancellation and re-test of the exam, holding that there was no evidence on record to conclude that it was "vitiated" on account of "systemic breach" of its sanctity. The court said the leak occurred in a couple of cities. BJP leader and former union minister Ravi Shankar Prasad hit out at the opposition, especially Congress leader Rahul Gandhi, following the verdict, accusing him of defaming India's examination globally with his strong words. His choice of words were violative of Parliament's dignity and the dignity of the office of the Leader of Opposition, a position Gandhi holds, Prasad said. He also dismissed Gandhi's criticism of the budget as a "kursi bachao budget", saying it was not the BJP's fault if

RVNL, HAL: Is there more downside for Rail, Defence stocks post Budget?

Shares of rail and defense related companies bounced back in trades on Wednesday; however, charts reveal that several stocks were trading below their key short-term moving averages.

Budget pinches homebuyers, earns praise of real estate developers

The Union Budget 2024-25 has left homebuyers disappointed, as it did not address concerns like high interest rates on home loans and the annual increase in stamp duty charges, while real estate developers lauded the Budget. Apartment Owners Associations in Noida and Greater Noida in the national capital region believe revoking indexation benefits in property deals will be a big setback for homebuyers. "This budget has left homebuyers disappointed, with no specific provisions or reliefs offered for them. Despite the high interest rates on home loans and the annual increase in stamp duty charges, the budget did not address these concerns," said Abhishek Kumar, president of Noida Extension Flat Owners Welfare Association (NEFOWA). Noida along with Greater Noida adjoining Delhi in the national capital region has thousands of distressed homebuyers and stuck housing projects. Rajiva Singh, president of Noida Federation of Apartment Owners Association (NOFAA) believed the budget revoking

Budget 2024: FM Nirmala Sitharaman hikes higher education funding by 8%

Union Budget 2024: Finance Minister Nirmala Sitharaman allocated Rs 47,619 crore for the higher education sector under the Ministry of Education

Budget 2024 is growth oriented, addresses right sectors: Vikas Khemani

Union Budget 2024 analysis: The government has laid out a clear vision for 'Viksit Bharat' by addressing key areas - agricultural reforms, manufacturing push and employment generation among others

Budget 2024: Customs duty hike to increase costs for 4G, 5G network rollout

Union Budget 2024: The increase in basic customs duty on printed circuit board assemblies from 10% to 15% can help create a robust telecom equipment manufacturing ecosystem in India

Budget 2024: Freshers to get one month's free salary. Check eligibility

Budget 2024: As part of the Centre's employment-linked incentive scheme, first-time employees in the formal sector will be offered one month's salary as subsidy up to Rs 15,000

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

Naidu taken for right royal ride: Congress on Budget allocation to Andhra

The Congress on Tuesday took a swipe at TDP chief N Chandrababu Naidu, saying he quit the NDA in 2018 due to the Centre's failure to grant special category status to Andhra Pradesh and six years later when the government is reliant on his MPs, all he has managed to get is a "special financial support" for Amaravati. The government on Tuesday announced a series of measures for Andhra Pradesh, including arranging Rs 15,000 crore this fiscal and in future years for the development of the capital city of the state. Presenting Union Budget 2024-25, Finance Minister Nirmala Sitharaman said the government will also facilitate special financial support for the development of the capital city. Reacting to the development, Congress general secretary in-charge communications Jairam Ramesh said, "In 2018, Chandrababu Naidu garu quit the NDA because of the non-biological PM's failure to grant Andhra Pradesh Special Category Status. "Six years after the drama, at a time when the Government is ..

Fiscal consolidation: Yes. Banking reforms: Wait

Next-generation reforms are at the bottom of the list of nine priorities of this Budget