IRCTC will work on Kisan Yatra, a special travel scheme to help farmers to learn about new farming and marketing technique.
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.
Finance Minister Nirmala Sitharaman on Thursday said Pradhanmantri Suryodaya Yojana will enable one crore families to get up to 300 units of free electricity monthly and help them save up to Rs 18,000 annually. "There is provision of Rs 10,000 crore for rooftop solar (scheme) in the Budget," said finance secretary T V Somanathan in press conference on Budget later in the day. Earlier in the day Sitharaman in her interim Budget speech said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity each month.
This is the BJP's first full-year Budget.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Large moves in equity and in currency are expected during March settlement.
Budget has laid emphasis on increasing social spends
All these measures will revitalise the manufacturing sector, which has been in doldrums.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
The Bench did not agree with the submission that in the past, Centre had postponed presentation of Budget due to assembly polls.
Budget fails to cheer realty players.
Jaitley's fifth Budget has provided little relief to the middle class.
Post Office has 1,54,000 rural branches.
The diesel variant offers fuel economy of 26.59 kmpl.
More funds are expected to be allocated for the new crop insurance scheme, PMSKY and RKVY.
The finance minister defended the change in the tax rates.
DLF Ltd on Friday said it was reviewing an order from the country's market regulator that fined the company and its top management $8.4 million.
Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
The Budget shouldn't be stuck on fiscal numbers, the PMO apparently said.
This finance minister has come of age. That's not condescension. It is a praise, says Omkar Goswami.
The people of the nation co-operated and patiently waited for the government's promised "ache din", and now they want their just rewards, says Adhil Shetty.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
Budget 2014 is a strong first step to slowly re-architecting and reviving our economy and transform India, says Rajeev Chandrasekhar.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
Finance firms in these SEZs likely to get tax breaks.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
The Rail Budget is full of hollow promises, the Congress leader said.
There has been nothing consolidated in the Budget for this section that may transform entrepreneurship in any meaningful way
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
It is a Budget 'high on promises but low on design,' the agency said.
Two stock market experts discuss their wishlists for Union Budget 2017 with Rediff.com's Aslam Hunani.
Aditya Birla Money MD talks about liquidity concerns in the market.
20 new industrial clusters will be developed in 2014-15.
Arguably one of the toughest engineering challenges in hand, the Indian Railways plans to complete the Chenab bridge in Jammu and Kashmir by 2016, making it the world's highest rail bridge.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
Railway Minister Suresh Prabhu presented the Railway Budget at the Parliament on Thursday.
