Finance Minister Nirmala Sitharaman on Wednesday announced hiking the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment. "Capital investment outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP.
The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).
Actor and Samajwadi Party MP Jaya Bachchan said she was happy that the House was discussing the most important ambassadors of the country, the film fraternity.
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
'There is good indication that the economy is bouncing back, but the problem is, we should look at the eight quarters preceding March 2020.' 'The growth had fallen below 3.1% before March 2020.' 'So, the governments must realise that even if you transform the best of green shoots into banyan trees, you see only 3.1% growth.'
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.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
The early tabling of the financial Budget ends a 70-year tradition.
In spite of Budget's rural focus, the government has consistently stumbled in agriculture, says Shreekant Sambrani.
In his letter to Modi, Kharge hit out at the railway minister for seeking a Central Bureau of Investigation probe, saying the law enforcement agency is meant to investigate crimes, not railway accidents.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
Reaching out to the youth of the Kashmir Valley, Prime Minister Narendra Modi on Sunday spelled out initiatives for peace and development, and assured they will not inherit the problems faced by their parents and grandparents.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The House was adjourned seconds after convening amid ruckus over various issues, and Rahul Gandhi left Parliament soon after that.
Prime Minister Modi made a strategic blunder of Nehruvian proportions -- presuming no war can happen now, and the Chinese won't be a military threat and risk their economic interests, observes Shekhar Gupta.
The Budget session of Parliament is all set for a stormy start on Tuesday with major opposition parties planning to corner the government.
'The strategies outlined in Jaitley's Budget won't create the millions of jobs needed to dispel the despair and cynicism of militant youth in the Red Corridor running from Nepal to Tamil Nadu.'
In the run up to the elections Narendra Modi kept telling us achche din aane wale hain. Far from that, Jaitley's Budget just seems to be more of the wohi raat aur wohi din, says Mohan Guruswamy.
The COVID-19 pandemic and the ensuing restrictions in mobility may result in a 75 per cent reduction in the budgetary allocation for foreign travel in FY22, a senior finance ministry official said. The government will cut "frivolous expenditure" when all the activities are going on in the virtual mode, joint secretary in the ministry of finance, Madnesh Kumar Mishra, said in an event organised by XLRI. It can be noted that the budget for the next fiscal is under preparations right now and officials are also having discussions internally and also with external stakeholders for suggestions.
Sitharaman, who was giving her 2021-22 Budget Speech, started off by giving a special shout out to what the Indian team
Congress MP Rahul Gandhi on Friday expressed his regret that the Other Backward Class (OBC) quota was not provided under the Bill brought by United Progressive Alliance (UPA) in 2010.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
The Bharatiya Janata Party on Saturday released its manifesto for the November 17 Madhya Pradesh elections promising MSP for wheat at Rs 2,700 per quintal and paddy at Rs 3,100 and houses for beneficiaries of the state's flagship scheme 'Ladli Bahna'.
The maiden Railway Budget of the Narendra Modi-led NDA government seems to have not gone down well with the suburban commuters as it does not offer anything new to them, commuters associations in Mumbai said.
Housing sector to benefit from Budget.
BJP on Thursday said while claiming the exercise had brought back "hope" into the economy by charting a roadmap for the country's economic resurgence.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Prime Minister Narendra Modi was on Monday quoted as saying that Tuesday's expansion of his ministry will reflect "budget focus and priorities".
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
Modi's irrigation push in the Budget is aimed at scoring on the political front along with achieving growth targets
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
Budget is widely seen as a test of Prime Minister Narendra Modi.
Finance Minister Arun Jaitley will kick off pre-budget consultations with different interest groups from Thursday, starting with the representatives of the farm sector.
The session began with President Pranab Mukherjee's address outlining the government's agenda and vision.
The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups).
"Our armed forces represent India's diversity and the collective spirit of 130 crore Indians. Our forces are not only known for their utmost professionalism but also they are at the forefront helping people in times of crisis. Our forces are synonymous with trust," Modi said.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
A faltering economy may have led to a re-think on economic strategy. And Mr Modi might think he is politically strong enough to take some risks. But there could be a minefield ahead, observes T N Ninan.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
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