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.
The presentation of the Interim General Budget for 2009-10 was on Monday interrupted briefly as the Lok Sabha adjourned after JD(S) member M P Veerendrakumar complained of uneasiness.
Kharge's remarks came after Modi on Friday said the Congress stands "badly exposed" in front of people for promising to them what the party knows it will never be able to deliver.
Chief Justice of India (CJI) D Y Chandrachud on Monday said there was 'nothing wrong' in Prime Minister Narendra Modi's visit to his residence on Ganpati Puja and underscored the need for a 'sense of maturity in political sphere' on such issues.
The massive victory of Bharatiya Janata Party-led Mahayuti in Maharashtra indicates a tactical course correction post the Lok Sabha debacle, with factors like Rashtriya Swayamsevak Sangh's active role in the poll campaign, Ladki Bahin scheme, rise in women voting, and subtle message of Hindutva playing a crucial role.
Passengers travelling in all AC classes and first class will have to pay charges in addition to the recent hike in train fares with the General Budget on Friday bringing journeys in them under the ambit of service tax.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Talks on global climate finance virtually ground to a halt last week at COP29, the annual United Nations (UN) Climate Change event in Baku, Azerbaijan, as the developed world, led by the European Union (EU), and developing countries including India, Brazil, South Africa, and a clutch of island nations and African countries faced a wide chasm between their expectations. This has raised doubts about whether an agreement can be reached this week or whether talks will spill over to COP30, to be held next year in Benem, Brazil.
The Budget session of Parliament will begin on Feb 21 and the general budget is slated to be presented to Lok Sabha on Feb 28.
'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.'
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
The clarification comes in wake of media reports that Finance Ministry is contemplating to merge the Railway and General budgets and change the financial year.
Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. The interim Budget 2024-25 to be presented by Sitharaman on February 1, will be a vote-on-account that will give the government authority to spend certain sums of money till a new government comes to office after the April-May general elections.
The Finance Minister is assisted by a team of high profile bureaucrats who work overtime with mind boggling figures to make a balanced Budget.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
While the exterior has undergone minor refinements, the real improvements lie within, notes Rajesh Karkera/Rediff.com.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
The three-month long Budget session of Parliament will commence on February 23 and the general budget would be presented by Finance Minister P Chidambaram on February 28.
Amid a tussle with the Aam Aadmi Party government, Punjab Governor Banwarilal Purohit on Tuesday told the Supreme Court that he has summoned the assembly for the budget session on March 3, even as the top court told both sides that constitutional discourse has to be conducted with a sense of decorum and mature statesmanship.
The NIA, which came into existence in February this year with the appointment of Radha Vinod Raju as its first director general, has to accomplish important tasks in next 100 days.
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.
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
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.
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
NDA leaders have decided not to allow transaction of any business in Parliament till 'tainted' Union ministers are dropped.
'Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest.'
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Inflows into gold exchange-traded funds (ETFs), which manage a total of Rs 37,390 crore, have surged sharply in recent months. This trend is likely to continue, especially after the reintroduction of long-term capital gains tax (LTCG), which is likely to attract smart money into mutual fund offerings amid a robust outlook for the yellow metal. Smart money, also known as opportunistic flows, refers to strategic investments that are generally of a short-term horizon.
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 central government's fiscal deficit during 2023-24 at 5.6 per cent of the GDP was better than previous estimates of 5.8 per cent on account of higher revenue realisation and lower expenditure, according to official data released on Friday. In actual terms, the fiscal deficit -- or gap between expenditure and revenue -- was Rs 16.53 lakh crore, or 5.63 per cent of the GDP, which grew 8.2 per cent in 2023-24.
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