According to state officials, the project envisages lifting of 17.40 thousand million cubic feet of water from river Thunga to Bhadra reservoir and 29.90 TMC from Bhadra reservoir.
Regardless of who forms the next government, the interim Budget speech lays down a must-do list.
Chidambaram may announce higher fund allocation for the social sector, with focus on education, food, women and rural masses.
Experts agree with the assessment that the Budget next month would respond to the predictions of deficient monsoon rains with a policy package. According to them, rain-fed areas, which are likely to be affected by a 'below normal' monsoon, could see increase in allocation in terms of higher spending through the public distribution system and the National Rural Employment Guarantee Scheme.
Good news for the first-time homebuyer, stock market investor and individuals wanting to buy insurance in the Union Budget 2013-14, opines Rajiv Raj of CreditVidya.com
The Congress party has accused the BJP of engaging in "damage control" after the party distanced itself from comments made by two of its MPs, Nishikant Dubey and Dinesh Sharma, criticizing the Supreme Court. Congress general secretary Jairam Ramesh stated that the BJP's clarification was merely an attempt to mitigate the damage caused by the MPs' remarks and that the party's actions were hypocritical, given the silence of the BJP president on similar comments made by other party members.
"Preparations for the regular budget are on... priorities are listed in the manifesto. (These) Will get reflected in the finance minister's budget speech," said the new minister of state for finance Namo Narain Meena. 'The focus of the new measures will be to stimulate demand in the domestic economy and to ensure there is more purchasing power in the hands of the people and more liquidity in the hands of the companies,' the Congress manifesto says.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
Economic growth should be accompanied by social and political stability.
India must make tough spending choices, Finance Minister P. Chidambaram said on Thursday, as he unveiled one of the most highly anticipated budgets of recent years.
The world has recognised India as a bright star as the country is recording healthy economic growth despite global uncertainties, finance minister Nirmala Sitharaman said on Wednesday. India's growth at 7 per cent in the current fiscal is the highest among major economies and the Indian economy is on the right track, she said in her Budget speech.
Changes in indirect taxes can have a huge impact on monthly home budgets, as these would hit the prices of essential commodities and services.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
Mr Mukherjee has presented a good budget, perhaps even a very good one under the circumstances, but he has shied away from presenting a great budget.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
Congress Parliamentary Party chairperson Sonia Gandhi's reaction to President Droupadi Murmu's address to the Joint session of the Parliament on Friday stoked a controversy.
Continuing on the fiscally prudent path, the Modi government in the interim Budget refrained from announcing populist measures, which will help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26.
India is considering allowing new private sector banks, including by industrial houses, and a roadmap for the same could be announced in the annual Union Budget to be presented later this month.
Yesterday's Budget, last week's Economic Survey and the coming Approach Paper to the Twelfth Plan will provide the compass to help India navigate the uncertainties of the post-crisis world.
'We used to discuss how image-conscious Nitish Kumar was and his sophisticated conduct in public life. All this has become a thing of the past.'
Pranab on Sunday met the Prime Minister Manmohan Singh and discussed budget-related issues with him.
Without tinkering with the tax rates, Finance Minister Arun Jaitley in his maiden budget provided encouraging signals for domestic and foreign investors.
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
India will become self-sufficient in urea production in five years.
#Budget2018 resulted in over 14 lakh conversations on Twitter.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
The government on Wednesday said there won't be any capital gain tax if physical gold is converted to an electronic gold receipt and vice versa.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
Central goal of the Budget must be to restore confidence in the prospects for rapid growth in India.
'The finance minister in her Budget speech should spell out how exactly she intends to get back to the 7% track, and the hard decisions she intends to take in order to adjust to the realities of a slowing economy until growth momentum returns,' suggests T N Ninan.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
Finance Minister Jaswant Singh will present the Union Budget for 2003-04 in Parliament at 1100 hours on Friday, it was officially announced on Thursday.
Finance Minister Nirmala Sitharaman in her speech in Lok Sabha said, "Our vision for the 'Amrit Kaal' includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential."
Prasad hit out at the Opposition, alleging that it starts getting upset the moment it hears "Kumbh" or "Sanatan".
South Korean declared an 'emergency martial law' on Tuesday with President Yoon Suk Yeol, accusing the opposition of plotting an 'insurgency' and 'trying to overthrow the free democracy' in the country, as reported by the New York Times.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
In the following analysis, RelaxwithTax has tried to squeeze out the useful information -- from the Budget Speech delivered by Finance Minister Pranab Mukherjee -- that is relevant to you in terms of personal taxation and finance.
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
