The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site.
Finance ministers play a key role in shaping the country's economy.
The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.
But the atmosphere is now conducive for the Mahayuti to continue in power in Maharashtra thanks to the government's people-centric schemes, while the opposition Maha Vikas Aghadi (MVA) is giving promises that it cannot execute, he said.
Fissures have emerged in Maharashtra's ruling Mahayuti over the 'Ladki Bahin Yojana' with a Shiv Sena minister raising objection against ally Nationalist Congress Party and its president Ajit Pawar for 'omitting' Chief Minister Eknath Shinde's name from advertisements and promotional material of the scheme.
So, how well do you know the Finance Ministers of India, who have contributed towards India's story? Take this quiz to know a little more about India's Finance Ministers:
With the fiscal deficit target staring at the government, the FY25 Budget has limited expenditure options, points out A K Bhattacharya.
India's finance ministers ushered in financial reforms and steered the economy out of crisis over the years. Despite the present slowdown, India has managed to maintain a stable outlook on India's rating.
Cities are managing to get more water while the majority of people live in villages - the tension is escalating.
The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs.
India's finance ministers have played a crucial role in framing policies and initiating reforms to boost the economy.
Finance Minister Nirmala Sitharaman on Monday said that GST collection from online gaming has increased 412 per cent in six months from October 1, 2023, when 28 per cent tax was levied on these services. Briefing media on the decisions taken at the 54th meeting of the GST Council, Sitharaman said the status on revenue collection from casinos, online gaming and horse races after six months of implementation of 28 per cent GST was presented to the Council. "The revenue from online gaming has increased by 412 per cent and reached Rs 6,909 crore in just for six months.
Ahead of the upcoming budget, eminent economists during a meeting with Prime Minister Narendra Modi on Thursday urged the government to take steps to accelerate economic growth and improve infrastructure, sources said. The meeting was organised by the NITI Aayog on Thursday to elicit views and suggestions of economists for the first budget of the Modi 3.0 government. "Earlier today, interacted with eminent economists and heard their insightful views on issues pertaining to furthering growth," Modi said in a post on X.
He argued that if inflation is low, stable and moving towards the 4 per cent target, why has the RBI not revised downward the bank rate fixed in June 2023?
Presenting the Union Budget, Sitharaman announced that the government will partner with the private sector to set up Bharat Small Reactors and in the research and development of small modular reactors.
So, how well do you know the Finance Ministers of India, who have contributed towards India's story? Take this quiz to know a little more about India's Finance Ministers:
In a developing county like India, the role of the Finance Minister is a crucial one, specially when the country is going through it's worst period in recent times. M R Venkatesh, has a few valid suggestions for Mr Chidambaram.
Finance Minister Pranab Mukherjee may be right in pushing for FDI in retail because reports have been pouring in, indicating that the economic downturn in India and abroad will worsen in coming weeks. Sheela Bhatt examines the politics behind the government's decision.
Manmohan Singh, P Chidambaram and Yashwant Sinha presented 5 Budgets each while Jaswant Singh presented only one Budget.
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
A higher level of private sector financing and resource mobilisation from new sources will be crucial for India to build quality infrastructure, according to the Economic Survey 2023-24. The Economic Survey 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday.
The fitment committee under the Goods and Services Tax (GST) Council, comprising central and state officials, has begun a rate rationalisation exercise afresh, checking the possibility of dropping some of the rates, particularly the 12 per cent slab, to achieve a revenue-neutral structure, a senior official with direct knowledge of the matter
Amid a growing chorus in the party for his elevation, Tamil Nadu sports minister and son of Chief Minister M K Stalin, Udhayanidhi, was elevated as the deputy CM on Saturday with additional responsibility, in a cabinet reshuffle that saw the return of V Senthil Balaji to the council of ministers two days after securing bail in a money laundering case.
Bibek Debroy was one of the very few economists not bound by any single area of expertise and was simultaneously curious about economics and politics, myths and maths, chess and chemistry, and what not, remembers Laveesh Bhandari.
In a bid to provide jobs to the youth, Finance Minister Nirmala Sitharaman on Tuesday proposed to launch an ambitious scheme for providing internship opportunities in 500 top companies to 1 crore youth over a five-year period.
The government on Tuesday announced certain incentives as part of efforts to boost maintenance, repair and overhaul activities in the country's aviation and shipping sectors. India is one of the fastest growing domestic aviation markets in the world.
In a major embarrassment to the Congress-led United Democratic Frontn government in Kerala, state Finance Minister K M Mani was on Thursday booked by the vigilance and anti-corruption bureau in the bar bribe scam.
Finance Minister Arun Jaitley in conversation after presenting his first full Budget in parliament today...
For most of his first stint as finance minister, Pranab Mukherjee had Indira Gandhi as his prime minister. In his second stint, the prime minister was Manmohan Singh.
Ex-finance minister Madhu Dandavate dead
Rediff.com brings to you Finance Minister Pranab Mukherjee's Budget Speech Live from Parliament at 11.00 a.m. on February 28.
Rediff.com brings to you Finance Minister Pranab Mukherjee's Budget Speech Live from Parliament at 11.00 a.m. on February 28.
'They think quick fixes like internship in the private sector will help. 'In fact, internships have been going on for the last one decade.' 'In 2014-2015 itself, we had a ministry of skill development. None of the programmes have yielded results, still they are continuing with such schemes under some other name.' 'We don't see any seriousness on the part of the government to attack the problem of unemployment.'
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July. Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
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