This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Finance Minister Nirmala Sitharaman on Sunday proposed Rs 10,000 crore investment in the biopharma sector over the next five years, a move which would give a boost to the country's pharmaceuticals industry.
'When a technology is this fundamental, a country should have its own version of it, rather than relying on whether someone else chooses to build it for you.'
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
The Budget allocation includes the construction of new lines and the purchase of locomotives, wagons, and coaches, among other works.
The government's flagship Khelo India programme received an allocation of Rs 924.35 crore.
Union Finance Minister Nirmala Sitharaman is well-known for donning saris that speak as powerfully as her budget speech. Each Budget Day, she selects a drape that pays tribute to India's amazing textile heritage and the mastery of its artisans.
Prime Minister Narendra Modi is scheduled to visit Israel for two days to discuss bilateral and regional issues, marking his second visit to the Jewish state and highlighting the growing strategic partnership between India and Israel.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
A UN Security Council report indicates that Pakistan-based Jaish-e-Mohammed (JeM) was reportedly linked to a terror attack on the Red Fort in New Delhi. The report also highlights JeM's activities, including the establishment of a women-only wing and its presence in the region.
The first leg of the Budget session concluded with debates over the India-US trade deal and a former army chief's memoir, and will reassemble on March 9.
The Union Budget 2025-26 had allocated Rs 2,33,210.68 crore (BE) to the ministry helmed by Union Home Minister Amit Shah.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
The power ministry had approached the department of disinvestment in August 2007 for approval for NTPC's FPO, which could fetch the company nearly Rs 6,000 crore to part-finance its expansion programme.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
'If you go by the capital expenditure, this is a good defence budget. But we will have to see if the government can keep defence spending at 2 per cent or higher in 2027-2028.'
The finance ministry has asked all ministries and departments not to initiate any new scheme in the current financial year and said that there is a need to use resources prudently in the wake of the COVID-19 crisis. However, funds for schemes under the Pradhan Mantri Garib Kalyan Package, the Aatmanirbhar Bharat Abhiyan package and any other special package or announcement would be allocated, according to an office memorandum by the department of expenditure, which comes under the finance ministry.
In 2025-26, the government allocated Rs 6,81,210 crore for defence budget.
The government on Wednesday put out the draft of a new policy that projects the country's power sector will need Rs 50 trillion in investments by 2032 and Rs 200 trillion by 2047, proposing ambitious reforms in generation, transmission and distribution.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
The distance between North Block and Mint Road has been growing for quite some time. The latest evidence of tension is the finance ministry's decision to introduce a clause in the Banking Amendment Bill allowing banks to trade in commodity futures, despite the central bank's reservations on the issue.
Reserve Bank has expressed dissent at the finance ministry panel's suggestion on allowing foreign institutional investors to issue Participatory Notes and allowing them to take exposure in India's debt instruments.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
A quick assessment of the ground reality will tell you that it is a reflection of the finance ministry's mistaken faith in factors beyond its control.
It is learnt that India was mulling various options relating to the project after Trump administration threatened a 25 per cent additional tariff on countries doing business with Tehran.
The telecom ministry has referred the matter of number of 3G spectrum slots in each circle to the Finance Ministry.
The total expenditure on the MGNREGA programme, as per the revised estimates from 2025-26, was Rs 88,000 crore, while initially, a sum of Rs 86,000 crore was allocated.
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
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