None of the demands of the industry were met.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
In televised remarks after Finance Minister Nirmala Sitharaman presented the budget, Modi said it has many provisions for the agriculture sector, including for making loans easier for farmers.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
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.
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.
#Budget2018 resulted in over 14 lakh conversations on Twitter.
Finance Minister P Chidambaram presented the 2006-07 Union Budget in Parliament on Tuesday.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
In times of global challenges, G-20 presidency gives an opportunity to strengthen India's role in the global order, she added. The government is implementing scheme to supply free foodgrains to poor under Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) with expenditure of Rs 2 lakh crore from January 1, the finance minister said.
Terming the Budget as growth-oriented, Prime Minister Manmohan Singh on Thursday said that to find a solution to the ills plaguing the various sectors, the Union Budget 2004-05 proposes to give a boost to agriculture, industry and social and physical
India Inc points out issues that need to be addressed in the Budget.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Govt mulls gradual switchover to the January-December financial year
Later, Sitharaman's office clarified that the FM had already met the industrialists, experts, and economists during the pre-budget consultations.
Petroleum subsidy for 2013-14 budget estimates is Rs 64,998 crore.
Oil and gas exploration policy will be reviewed to move from profit sharing to revenue sharing contracts.
The TDP expressed "serious displeasure" over the Union Budget as it "gave nothing" to the state.
After Finance Minister Arun Jaitley presented his fifth straight budget in the Lok Sabha, Bharatiya Janata Party members and ministers from the Cabinet reacted positively to the Budget. Here are some of the reactions.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
The Budget kept away from mood dampeners such as an increase in taxes (capital gain taxes) and even the much-feared introduction of Covid cess and wealth taxes, says Nimesh Kampani, chairman, JM Financial.
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
Finance Minister Nirmala Sitharaman also said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years.
We should work in unison to boost growth: FM
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
'It is a balanced and prudent Budget that sets the foundation for future growth in the economy.'
Government's objective is to bring down the cost of cultivation through efficient use of fertilisers and agro chemicals, and increase in realisation. It is, thus, planning to connect 200 agricultural mandis with electronic National Agricultural Mandis this year and 225 next year, to enable farmers to sell their produce hassle-free online.
The supplementary nutrition programme and the Poshan Abhiyaan under the Women and Child Development Ministry has been merged to launch Mission Poshan 2.0 to strengthen nutritional content, delivery, outreach, and outcome, according to the Union Budget announced on Monday.
Earlier, the chief minister of Punjab had written in the same vein to the prime minister.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
Yechury said the aim should be how to protect our economy from slowdown
The BJP would want that by March 2022, when UP votes, the economy starts looking up and it heads into the polls with no other issue distracting from its main poll plank of the construction of the Ram temple in Ayodhya.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances