The session will conclude on July 3.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
'While the Budget would be growth-friendly, it would not come at the expense of an increase in the fiscal deficit.'
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
As the years passed, joblessness in the region increased.
The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts.
Even if D K Shivakumar wanted to oust Siddaramaiah, whose support would he take?
The shrewd politician that he is, Siddaramaiah figured his rival had no option but to lump it, points out Aditi Phadnis.
A brief Budget session of Parliament, the last of the 17th Lok Sabha, will be held between January 31 and February 9, Parliamentary Affairs Minister Pralhad Joshi said on Friday.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
On Friday, January 31, 2025, Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-2025 in the Lok Sabha.
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
The time is ideal for a 'Dream Budget' akin to the 1991 reforms that sparked high growth and unlocked significant gains in productivity, points out Rajeswari Sengupta.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
Breaking the nearly three-decade-old dominance of the undivided Shiv Sena, the Bharatiya Janata Party on Friday emerged victorious in the Brihanmumbai Municipal Corporation (BMC) elections, and also vanquished the alliance of Nationalist Congress Party factions led by Sharad Pawar and Ajit Pawar in the Pune civic body.
This comes a day after President Droupadi Murmu gave her assent to the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill, which replaces the MGNREGA and has a provision for 125 days of wage employment for rural workers.
The winter session of Parliament is set to begin with the government prioritizing its reforms agenda, including a bill to open the civil nuclear sector to private players. The opposition is expected to raise concerns about electoral roll revisions and air pollution.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Amid an ongoing power tussle in the ruling Congress, Karnataka Chief Minister Siddaramaiah called on party president Mallikarjun Kharge at his residence here, and dismissed speculation of a leadership change in the state.
President Droupadi Murmu has given her assent to the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, which aims to replace MGNREGA and guarantee 125 days of wage employment per rural household.
'They think quick fixes like internship in the private sector will help. 'In fact, internships have been going on for the last one decade.' 'In 2014-2015 itself, we had a ministry of skill development. None of the programmes have yielded results, still they are continuing with such schemes under some other name.' 'We don't see any seriousness on the part of the government to attack the problem of unemployment.'
This has been our history of good governance: Things that were difficult to do and required planning and implementation were first taken up and then abandoned, notes Aaakr Patel.
Parliament will reconvene on March 12 for the second part of the Budget Session.
The total assets of the country's sitting legislators amount to Rs 73,348 crore, which is more than the combined annual Budgets (2023-2024) of Nagaland (Rs 23,086 crore), Tripura (Rs 26,892 crore), and Meghalaya (Rs 22,022 crore), totaling around Rs 72,000 crore.
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers.
The Comptroller and Auditor General of India (CAG) has launched an integrated audit across 32 states and Union Territories to assess the ease of doing business for the micro, small and medium enterprise (MSME) sector.
Finance Minister Nirmala Sitharaman on Thursday said projects for port connectivity, tourism infrastructure and amenities will be taken up 'on our islands, including Lakshadweep' to address the 'emerging fervour' for domestic tourism in the country.
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Finance Minister Nirmala Sitharaman on Saturday said Rs 1.5 lakh crore will be provided towards 50-year interest free loans to states, for infrastructure development. Also, an asset monetisation plan will be launched for 2025-30 period to infuse Rs 10 lakh crore capital in new projects.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
