'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
The Budget session of Parliament will begin on February 21 and the General Budget will be presented to Lok Sabha on February 28.
The budget session of Parliament will begin on February 21 and the general budget is slated to be presented to Lok Sabha on February 28.The decision to recommend the date for convening of the session to the President was taken at a meeting of the Cabinet Committee on Parliamentary Affairs chaired by Finance Minister Pranab Mukherjee, who is also Leader of the House in Lok Sabha.
Jammu and Kashmir Chief Minister Omar Abdullah has said that India and Pakistan came closer to resolving the Kashmir issue during the Manmohan Singh-led UPA government. He added that he does not expect a return to that situation in his lifetime. Abdullah lauded Singh's efforts on Kashmir, including the setting up of working groups on the issue, and said he practically initiated measures for the return of displaced Kashmiri Pandits. The chief minister also praised Singh's contribution to India's economic development.
The monthly Rs 2500 payment for poor women is expected to cost Rs 11,000 crore while the pension scheme of Rs 2000 for every senior citizen will cost around Rs 4100 crore. The Yamuna clean up will cost over Rs 10,000 crore while a similar amount is required to upgrade Delhi's hospitals. Ultimately, the new BJP government will have no choice but to ask the centre for financial support, notes Rashme Sehgal.
NDA leaders have decided not to allow transaction of any business in Parliament till 'tainted' Union ministers are dropped.
Your ultimate guide to helicopter rides in India this Valentine's Day
The finance ministry will kick-start the exercise to prepare the annual Budget for 2023-24 from October 10, in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, job creation, boosting demand, and putting the economy on a sustained 8 per cent-plus growth path. On Wednesday, finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
Congress ministers on Friday hailed the General Budget as "balanced, thoughtful and forward looking" which would lay the foundation for fiscal consolidation but ally Trinamool Congress dismissed it as "status-quoist".
The Centre's fiscal deficit at the end of the first five months of the current fiscal touched 27 per cent of the full-year target, government data showed on Monday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was at Rs 4,35,176 crore as of August-end, according to data released by the Controller General of Accounts (CGA). The deficit stood at 36 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
Rajya Sabha Chairman M Venkaiah Naidu also made a fervent appeal to the leaders of various parties at an all-party meeting to ensure smooth and effective functioning of the House during the Budget Session.
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.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
'One of the biggest employment generators, the MSMEs, have not got much from the government.'
Rupee depreciation, if it continues, will likely pull the markets down further. Since September 2024, the rupee has declined by 3.1 per cent, the Nifty has dropped by 8.5 per cent during the same period, and the Sensex has fallen by 7.3 per cent. If the decline continues, markets will need to brace for more pain as it could push foreign portfolio investors (FPIs) to exit their positions faster than anticipated.
'If the markets correct further, PSU stocks could continue to decline.'
'I find his sense of history astounding, not just history of film, but of life in general.' Another fascinating excerpt from Sangeeta Datta's book Shyam Benegal.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Reeling under a series of derailments, the Budget is likely to announce creation of a separate safety fund of about Rs 1 lakh crore over the next five years.
It is possible that the final Budget architecture may be at variance with the comments.
Party leader Rahul Gandhi dubbed the Union Budget as a 'zero-sum budget', saying it has nothing for the salaried, middle class and the poor.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
Modi said he was "full of confidence" ahead of his "exam", the Budget, by 125 crore people
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Novelis' Q3FY25 volume stood at 904,000 tonnes (down 1 per cent Y-o-Y, down 4 per cent Q-o-Q), due to lower VAP and automotive shipments. Revenue stood at $4.1 billion (+4 per cent Y-o-Y, down 5 per cent Q-o-Q).
The year 2024 was the hottest year on record, with the global average temperature exceeding 1.5 degrees Celsius above pre-industrial levels for the first time, according to the European climate agency Copernicus. Every month from January to June was the warmest ever recorded, and from July to December (except August), each month was the second warmest on record. Scientists are warning that the world is entering a new climate reality, with extreme heatwaves, floods, and storms becoming more frequent and severe. The report also highlights the failure of developed nations to meet their climate finance commitments to developing countries, despite the urgency of the situation.
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Prime Minister Narendra Modi will pay a two-day working visit to the US from February 12 during which he will meet President Donald Trump, the external affairs ministry announced. The visit will give further impetus and direction to India-US bilateral relationship. Prior to his US visit, Modi will be in France from February 10-12 to co-chair the AI Action Summit with French President Emmanuel Macron. He will also visit Cadarache, the site of the International Thermonuclear Experimental Reactor of which India is a partner. During his visit to France from February 10-12, Modi and Macron will also address the India-France CEOs forum. The prime minister and Macron will travel to Marseille where they will inaugurate the Consulate General of India. The leaders will also visit the war cemetery and pay tribute to the sacrifices made by Indian soldiers in World War 1. Modi and Macron will visit Cadarache, the site of the International Thermonuclear Experimental Reactor (ITER). There has been a very close rapport between Trump and Modi, dating back to the US leader's first term. There is a clear convergence of interests between the two countries in several areas, including trade, investment, technology, defense cooperation, counterterrorism, Indo-Pacific security, and people-to-people relations.
The previous budget had allocated Rs 1,581 crore.
The early tabling of the financial Budget ends a 70-year tradition.
The Indian government has come out with a nice name for its tried and tested 220MW pressurised heavy water reactor -- Bharat Small Reactor.
