Referring to our 'demographic dividend', with 65 per cent below the age of 35, the PM said skill development was a priority area.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
That he hasn't done so yet, has continued to be active on the political street, in public debate and on social media, signals an important change. It will give his party hope. Maybe the achievement of reducing Mr Modi well below the majority mark will now motivate him to stay committed, observes Shekhar Gupta
'Ladakh has become a hollow UT.' 'Bureaucrats from Delhi rule Ladakh and there is no attention paid to the grievances of the people.'
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
...to fund the revenue gap. Of the gross market borrowing of Rs 14.13 trillion estimated for FY25, Rs 7.5 trillion, or 53 per cent, is planned to be borrowed in the first half.
'After the presentation of the Budget, the House will be adjourned.'
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
Sunak, 44, was facing the impossible challenge of overcoming voter anger against the incumbent Tories after 14 years in power. The 61-year-old Keir Starmer-led Labour Party, meanwhile, maintained a strong lead over the Tories throughout the six-week campaign.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
The battle on creating jobs is virtually lost. If the battle for achieving higher growth too is lost, then its political consequences could become difficult to manage, says A K Bhattacharya.
Navendu Mishra (Stockport) and Nadia Whittome (Nottingham East) were among the other Labour MPs re-elected with convincing majorities.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
As per the rules and regulations, members must not do anything that brings disrepute to the Parliament and affects their credibility, and members must utilise their position as Members of Parliament to advance general well-being of the people.
Leader of the Opposition in the Lok Sabha Rahul Gandhi asserted that the Congress will protect the Constitution and the reservation system at all costs and foil "conspiracies" of the Bharatiya Janata Party.
The row over the appointment of Bharatiya Janata Party leader and seven-term member Bhartruhari Mahtab as the pro-tem speaker is likely to cast a shadow over the session.
The new army chief's highest priority must be to address the critical hollowness in the Indian Army's operational preparedness, says Brigadier Gurmeet Kanwal (retd).
Targeting Modi over inflation, Priyanka called him a "mehengai" man.
Six Himachal Pradesh Congress MLAs who voted against party nominee Abhishek Manu Singhvi in the Rajya Sabha elections, along with three Independent lawmakers, have shifted to a hotel in Bharatiya Janata Party-ruled Uttarakhand amid an ongoing rebellion against Chief Minister Sukhvinder Singh Sukhu.
'Personal income tax is growing by 27 per cent and most refunds have already been issued.'
The Congress rebels are seeking to install a person of their choice as the new chief minister of the state.
Looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure, warns Rathin Roy.
From real estate to metals, what Sitharaman's Budget has in store.
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
The Union Budget on Monday evoked contrasting responses in the political arena with the ruling Bharatiya Janata Party hailing it as a vision for an 'Aatmanirbhar Bharat' and the Opposition describing it as a 'let down like never before' that was meant to 'deceive' people.
The budget is "farmer friendly, common citizen friendly, business environment friendly" and will add to 'ease of living' and 'ease of doing business', Modi added.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
Former Prime Minister Indira Gandhi was the first and only women till now to have presented the Union Budget.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
'The finance minister in her Budget speech should spell out how exactly she intends to get back to the 7% track, and the hard decisions she intends to take in order to adjust to the realities of a slowing economy until growth momentum returns,' suggests T N Ninan.
Paris mayor Anne Hidalgo and locally elected representatives, as well as region president Valerie Pecresse and sports minister Amelie Oudea-Castera, attended the inauguration.
'The clubbing of policy announcements in the Budget speech creates policy surprises.' 'Economic actors dislike policy surprises because they throw their plans off track,' points out Alok Tiwari.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
