Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
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.
We present here a graphic explanation of the Budget 2016.
Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, said the government will also adopt an economic approach that facilitates sustainable development and improves productivity.
The impact of economic slump was visible in the Budget's fine print, as this step-by-step explanation show how the Budget math was worked out, reports Abhishek Waghmare.
Finance Minister Nirmala Sitharaman on Thursday announced plans to increase milk and dairy production in the country. India is the largest milk producer in the world but there is low productivity, the finance minister said.
The interim budget 2024-25 on Thursday allocated Rs 202868.70 crore to the Ministry of Home Affairs (MHA) with the highest share of funds going to the paramilitary forces like Central Reserve Police Force (CRPF), Border Security Force (BSF) and Central Industrial Secular Force (CISF), showing priority on internal security and border guarding.
Jaitley said he would stick to the fiscal deficit target.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Under the proposed GST regime, telcos will have significantly higher compliance costs due to multiple-state registrations.
Railway Minister said this budgetary allotment is 84% higher than 2014-15.
Prime Minister hailed the Budget, saying it's practical, positive.
Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers.
The Union Budget has an opportunity to bring into practice the principles of maximum governance, minimum government and ease of doing business by objectively removing anomalies and dated government controls.
With Nirmala Sitharaman's Budget presentation lasting for about one hour 31 minutes on Tuesday, the finance minister's budget speech this year became the shortest ever since 2019.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
Housing sector to benefit from Budget.
P Chidambaram presented the Budget for the 9th time.
Jaitley described his three priorities as: strengthening India's firewalls by ensuring macroeconomic stability and prudent fiscal management; driving growth through domestic demand; and reforms to boost economic opportunity.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
The government will provide Rs 11.11 lakh crore for capital expenditure for 2024-25 and introduce viability gap funding to spur private investment in infrastructure, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Union Budget for FY2024-25, she said that the government will endeavour to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation.
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India Inc on Monday said that the Interim Budget was 'absolutely' up to the expectations.
Will Finance Minister Arun Jaitley live up to the expectations of India Inc and individual taxpayers? Watch all the action here live from Parliament.
The Budget should overall seek to announce tax measures and policies which boost consumption in the economy and facilitate a low interest rate regime. This would certainly have a positive impact on the automobile industry.
Jaitley said he would stick to the government's existing fiscal deficit target.
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Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
A health care savings fund must be introduced for all salaried employees similar to the PF scheme and it should be tax deductible.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday. Income Tax rates were kept unchanged.
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday.
Railway Minister Suresh Prabhu is all set to present his second Railway Budget on February 25.
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country. Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
Madhu Bhargava watched the Budget presentation from the visitors' gallery.
"The Railway Minister has presented a very responsible, practical and implementable budget," Chidambram told reporters outside Parliament.
Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', she said while presenting the Budget in the Lok Sabha.
