Gradually, we are moving towards a simplified taxation regime, while bringing down the incidence of tax itself. Therefore, we are taking this review, says FM
Shipbuilding, Cruise Push to Pave Way for Employment, says Sonowal
The Tamil Nadu government and the opposition AIADMK slammed the Union Budget on Tuesday allegedly for ignoring the state and for favouring the BJP allies ruled states. The Centre has consistently chosen to ignore the demands raised by Chief Minister M K Stalin on a numerous issues and also the requests that he had placed before the Union government, state Finance Minister Thangam Thennarasu said. "It is true that Tamil Nadu has been betrayed. Though the Centre has been lavish in allocating funds to several states, it has not accepted the demands of our Chief Minister," Thennarasu told reporters here. Responding to a question on the Union Budget presented by Finance Minister Nirmala Sitharaman in the Parliament earlier in the day, he said, the Centre has not accepted the demands that he had conveyed on behalf of the Tamil Nadu government. Opposition AIADMK termed the Budget as "a big disappointment" in all aspects and claimed that it was prepared "only to satisfy" the BJP allies' ru
Union Budget 2024: PM Modi made the remarks about the Budget hours after Finance Minister Nirmala Sitharaman made her presentation in the Lok Sabha
Terming the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman as "disappointing", Karnataka Chief Minister Siddaramaiah on Tuesday said the State has been totally neglected. "As Nirmala Sitharaman is the Rajya Sabha member from Karnataka, we had expected her to do justice for the state and hoped that she would protect the interest of the state, but she has disappointed and done injustice to the people of Karnataka," he said. "In this budget Nirmala Sitharaman has given Karnataka 'Chombu' (a small, round water container). Karnataka has got nothing. Andhra Pradesh and Bihar got special grants, no other states have got grants. Because for Nandra Modi Modi to continue as Prime Minister Andhra Pradesh and Bihar's support is required," Siddaramaiah said. Speaking to reporters here, he said no impetus has been given to Karnataka in this budget including in sectors like industries and railways, despite five central ministers being from the state. "The budget is totall
The Department of Social Justice and Empowerment has been allocated Rs 13,539 crore in the 2024-2025 budget, an increase of 37 per cent from the 2023-2024 revised estimates of Rs 9,853.32 crore. This increase is primarily focused on enhancing welfare programmes for marginalised communities and improving infrastructure for social services. The key areas of funding include Rs 9,549.98 crore for the 'Umbrella Scheme for Development of Scheduled Castes', a significant increase from the Rs 6,780 crore in the previous financial year. For achieving social justice comprehensively, the saturation approach of covering all eligible people through various programmes, including those for education and health, will be adopted, Finance Minister Nirmala Sitharaman said on Tuesday while presenting the 2024-25 Union Budget in Parliament. She said to ensure inclusive human resource development, a social justice saturation approach will be adopted. Social justice through the saturation approach refer
The budgetary allocation for the civil aviation ministry has been reduced to Rs 2,357.14 crore for the current fiscal ending next March, with regional air connectivity scheme set to get Rs 502 crore during the same period. In the revised budgetary allocation for 2023-24, the amount for the ministry was at Rs 2,922.12 crore. As per documents of the Union Budget 2024-25 that was presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday, the ministry will get an allocation of Rs 2,357.14 crore. The money set aside for the regional air connectivity scheme has been cut to Rs 502 crore from Rs 850 crore in the revised budgetary allocation for 2023-24. The amount is for revival of 22 airports as well as commencement of 124 RCS routes and Viability Gap Funding for North East Connectivity. To improve connectivity in the northeast region, a new scheme has also been formulated for providing air connectivity and aviation infrastructure, as per a document. However, the Product
The stock market's knee-jerk reaction must not define FM Sitharaman's far-reaching Budget
The Department of Empowerment of Persons with Disabilities has been allocated a total of Rs 1,225.27 crore in the fiscal year 2024-2025, a marginal increase of 0.02 per cent from the previous year's revised estimate of Rs 1,225.01 crore. The budget emphasises the continuation and expansion of key programmes aimed at improving the lives of persons with disabilities through various schemes and projects. A significant portion of the budget is dedicated to the National Program for the Welfare of Persons with Disabilities, with Rs 615.33 crore allocated for this fiscal year, up from Rs 502 crore in the revised budget for 2023-24. The Department of Empowerment of Persons with Disabilities (DEPwD) has been allocated a total of Rs 1,225.27 crore in the fiscal year 2024-25, a marginal increase of 0.02 per cent from the previous year's revised estimate of Rs 1,225.01 crore. This programme includes Rs 315 crore for Assistance to Disabled Persons for Purchase/Fitting of Aids and Appliances, an
The Department of Drinking Water and Sanitation has received a budgetary allocation of Rs 77,390.68 crores for the fiscal year 2024-2025. This figure reflects a minimal increase of only 0.5 per cent from the revised estimate of Rs 77,032.65 crore announced in budget 2023-2024. A substantial portion of this financial year's allotment for the Drinking Water and Sanitation department is directed towards the Jal Jeevan Mission (JJM), which received Rs 69,926.65 crore, a marginal rise from the revised estimate of Rs 69,846.31 crore in 2023-2024. This flagship programme aims to provide functional household tap connections to every rural household by 2024, focusing on ensuring regular and adequate water supply. Additionally, the Dr Syama Prasad Mookerjee National Institute of Water and Sanitation (SPM-NIWAS) has been allocated Rs 95 crore, a huge rise from the Rs 3 crore it got in the last revised estimate. The Swachh Bharat Mission (Gramin), which focuses on maintaining Open Defecation
The Centre has allocated Rs 5,958 crore for the Union Territory of Ladakh in the Union Budget 2024-25 announced on Tuesday, a massive 32 per cent rise from last year's allotment of Rs 4,500 crore. The Ladakh UT, which was carved out of Jammu and Kashmir after the abrogation of Article 370 in 2019, has received Rs 2,035.49 crore for establishment expenditure of the Centre to meet its secretariat-related expenses and establishment of other departments and offices. The Budget, announced by by Finance Minister Nirmala Sitharaman, has allocated to Ladakh Rs 3,922.51 crore for other Central sector expenditure, including agriculture and allied schemes, water supply and sanitation, rural development, power, forestry and wildlife, medical and public health, and education among other departments.
Originally announced as a Rs 30,000 crore fund in Budget 2023, the fund was never disbursed
The Budget 2024-24 on Tuesday allocated Rs 1,309.46 crore for census, a significant reduction from 2021-22 when Rs 3,768 crore was allocated for the decadal exercise, an indication that it may not be carried out even after a significant delay. A meeting of the Union cabinet on December 24, 2019 had approved the proposal for conducting census of India 2021 at a cost of Rs 8,754.23 crore and updating the National Population Register (NPR) at a cost of Rs 3,941.35 crore. The house listing phase of the census and the exercise to update the NPR were scheduled to be carried out across the country from April 1 to September 30, 2020 but were postponed due to the COVID-19 outbreak. The census operation continues to be on hold and the government has not yet announced the new schedule. Officials said since general elections had taken place this year, the census exercise will not be able to be carried out in 2024. According to the Budget 2024-25, Rs 1,309.46 crore has been allocated for censu
India Budget 2024 tax rules: In order to achieve the vision of simplifying taxes, FM Nirmala Sitharaman announced a comprehensive review of the Income Tax Act, 1961
Union Budget 2024-25: The fiscal deficit is estimated at 4.9% of the GDP for the current financial year and the government aims to reduce it to below 4.5% next year
Union Budget 2024-25: Finance Minister Nirmala Sitharaman announced the continuation of bank credit to micro, small, and medium enterprises (MSMEs) during stress periods
Union Budget 2024 news: Finance Minister Nirmala Sitharaman said the government will release new 109 high yielding, climate resilient seeds for 32 field and horticulture crops
Union Budget 2024: Sitharaman said that for the pursuit of 'Viksit Bharat', the Centre has narrowed nine key priorities related to employment, energy security, and infrastructure, among other things
Budget 2024-25: From 'Bahi-Khata' to going paperless, Finance Minister Nirmala Sitharaman cements new traditions for the budget presentation in India
All you need to know before the market opens on Budget Day, July 23: The Budget 2024-25 is likely to set the market direction in the near-term; Experts recommend keeping a close tab on Nifty 24,500.