'ISRO Chairman Dr. Somanath's leadership truly created history and we extend our hearty congratulations to him and his team,' Venugopal said on X, formerly Twitter.
The bills were passed by voice vote.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
Special status to Yoga by categorising its promotion as charitable.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
The party's national general secretary, Mukul Roy, said, "This government has no moral or ethical right to place a railway budget."
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
'The allegations of government involvement in targeted assassinations abroad are likely to help, not hurt, the ruling party.' 'True or false, they convey a sense of muscularity and, in some quarters, are celebrated as a harbinger of 'great power' status.'
'The BJP has everything to lose if it performs poorly in UP. It dreads a repeat of Bihar,' says Rajeev Sharma.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
The Opposition on Wednesday slammed the Railway Budget saying it will promote regional imbalance and criticised its use to promote political ends. Initiating the general discussion on the Railway Budget in the Rajya Sabha, Kalraj Mishra (BJP) said Uttar Pradesh and Bihar have been neglected and most of the projects have gone to West Bengal.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
'From a risk-return perspective, large-cap funds may generate lower-than-historical average returns in 2024, whereas mid-, and small-cap funds hardly have any upside left.'
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
Parag Saxena, founding general partner and CEO, New Silk Road Partners, speaking on the Indian Union Budget 2009 at Asia Society in New York.
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Can Jaitley's team hope to garner 17% more on personal income tax?
The central government's fiscal deficit touched 67.8 per cent of the full-year target at the end of January due to higher expenses and lower revenue realisations, according to official data released on Tuesday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-January period stood at Rs 11.9 lakh crore, as per the data from the Controller General of Accounts (CGA). The fiscal deficit in the comparable period of 2021-22 was 58.9 per cent of that year's Revised Estimate (RE) in the Budget.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
Prime Minister Narendra Modi on Monday expressed confidence that the NDA will get more than 400 seats and the BJP will win at least 370 seats in the Lok Sabha elections.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
As the government's Budget moves unfold, market participants are treading with caution. As a result, the open interest (OI) positions have taken a beating during June, especially during the last few weeks.
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
The Budget will be keenly watched (to see) whether there is a credible plan for reducing the fiscal deficit and whether populist measures can be avoided before the 2014 general elections," the Wall Street firm said in a note.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Capital expenditure by 54 large central public sector enterprises and five departmental arms, having a capex minimum target of Rs 100 crore, rose 93 per cent year-on-year (YoY) in the April-May period to Rs 1.39 trillion. The National Highways Authority of India (NHAI) and the Railways have started this financial year's capex cycle on a stronger note. In the first two months of FY24, the 54 CPSEs, along with the departmental arms, achieved 19 per cent of their combined budget target of Rs 7.33 trillion, Business Standard has learnt.
Focus on agriculture, infrastructure and services sector can help the country's GDP to grow by more than 9 per cent.
There was no official word on the agenda of the session which will be held days after the G20 Summit in the national capital on September 9 and 10.
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
That "Rollback Budget" ushered in an era of rollback.
What some of our leaders were up to this weekend.
Unhappy that the Budget has not done anything to reduce escalating prices, the Communist Party of India said on Tuesday that it\nwould launch a countrywide agitation against high prices of essential commodities\ndespite the low rate of annualised inflation.
Samajwadi Party MLAs sat on a dharna at the Vidhan Bhavan in Lucknow during the Budget session of the Uttar Pradesh assembly raising various issues that included farmers and law and order.
