The duty hike on cigarettes by 16 per cent announced in the Union Budget 2023-24 would have a nominal impact of around 7-12 paise per stick across cigarette categories, according to experts. This upward revision in National Calamity Contingent Duty (NCCD) would have negligible impact on smokers and the companies could easily absorb the shock as it may not also have any resultant impact on margins, they said. Finance Minister Nirmala Sitharama in the Union Budget for 2023-24 on Wednesday proposed to revise and increase the duty on cigarettes to about 16 per cent.
However, the finance minister did not oblige members in the Rajya Sabha with clarifications on his intervention in the debate on the issue of price rise, even when Communist Party of India-Marxist member Sitaram Yechury sought some more information.
Finance Minister P Chidambaram has announced several measures in the Union Budget 2013-14.
While the finance minister made the tax payers slightly happy by raising the individual tax exemption limit to Rs 300,000, he made many others unhappy.
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.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
All meter gauge, narrow gauge sections to be made broad gauge.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
In 2013-14, the Budget estimate is Rs 16,65,297 crore (Rs 16,652.97 billion).
From dubbing voices to putting faces with the help of AI, political campaigns are undergoing a Bollywood makeover. Among the favourites is a scene from the Anil Kapoor-starrer Nayak, posted by the BJP, where Kapoor asks about the Chunaavi Vaade (poll promise), with Arvind Kejriwal at the receiving end instead of Amrish Puri.
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. A look into the hihghlights.
The next annual budget of India will have to be very carefully structured to sustain the country's growth momentum, Union Finance Minister Nirmala Sitharaman said on Tuesday, noting that it will also address inflation concerns. Visiting Washington DC to attend the annual meeting of the International Monetary Fund and the World Bank, the finance minister was responding to a question on the next year's Budget at a fire-side chat with eminent economist Eshwar Prasad at the prestigious Brookings Institute. "Specifics (of the next Budget) may be difficult at this stage because it's a bit too early. "But broadly, the growth priorities will be kept absolutely on the top. "Even as I speak about the concerns that inflation brings before me. So, inflation concerns will have to be addressed. "But then how would you manage growth would be the natural question," Sitharaman said.
Asking the Congress members, who were on their feet, to maintain the decorum of the House and not show placards, Birla said they should let the House function.
British Prime Minister David Cameron suffered a stinging parliamentary defeat over Europe after Conservative rebels joined the Labour opposition to demand a cut in the European Union budget. The defeat on Wednesday night came after more than 50 rebels from the ruling party joined Labour Members of Parliament in supporting a demand for real-terms reductions in spending by the European Union. The government was defeated by 307 votes to 294, a majority of 13.
Encouraged by signs of growth revival and desperate to reduce the fiscal deficit Union finance minister Pranab Mukherjee is expected to take this step when he presents his Budget to parliament on 26 February.
Watch all the proceeding from the Parliament.
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet's nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet's approval remains pending.
India's new Finance Minister P Chidambaram has directed his ministry officials to be prepared to present the Union Budget on either July 2 or July 5.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Finance Minister Jaswant Singh will present the Union Budget for 2003-04 in Parliament at 1100 hours on Friday, it was officially announced on Thursday.
External Affiars and Finance Minister Pranab Mukherjee on Monday said the government cannot indulge in 'reckless borrowing' and did not have Parliamentary mandate to tweak taxes.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Leader of Opposition in Lok Sabha Mallikarjun Kharge on Wednesday criticised the government for proceeding with the presentation of the Union Budget after the death of E Ahamed, accusing it if delaying announcement of the news so that it could present the Budget without any hiccups
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
This is the fifth consecutive day that the Parliament has been adjourned without transacting any business since the second part of the Budget session began on Monday due to uproarious scenes in the House.
This is the Upper House's third best productive session in the last 14 sessions since the Monsoon Session (243rd Session) of 2017, the Rajya Sabha officials said.
Gandhi, who is usually flanked by senior party colleagues, was also greeted by both President Droupadi Murmu and Vice President Jagdeep Dhankhar.
The Sports Ministry budget on Wednesday got a substantial hike of Rs 350 crore in the union budget for 2017-18, presented by Finance Minister Arun Jaitley in the Parliament.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
The Direct Taxes Code 2009 is now on the back burner. The Union finance ministry has veered round to the view that its bold move to reform direct taxes should be subjected to further scrutiny. Contrary to earlier expectations, therefore, the Direct Taxes Code 2009 will not be presented to Parliament as a Bill along with the Union Budget for 20010-11on February 26.
The government on Tuesday asserted in Lok Sabha that it was ready to discuss issues related to farmers both inside and outside Parliament amid vociferous protests by the Opposition which forced repeated adjournments of both the Houses.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
In the Union budget, Rs 65,011.8 crore has been allocated to the Ministry of Health and Family Welfare, up from Rs 62,659.12 crore in 2019-20.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
"You (lawyer) tell us what provisions have been violated. Tentatively speaking, we don't find any material in support of the petition," a bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud said.
For now, Modi's government appears singularly focussed on demonstrating that it is not in any way inhibited by the BJP's loss of a majority, and will continue along its patented path of bulldozing all opposition and doing just as it likes, asserts Prem Panicker.
The Budget session of Parliament started Monday with the President's address.
Do you think the Budget is good? Will prices of goods drop or rise? Will the stock markets continue to soar? What else could Chidambaram have done?
Discussion on the Union Budget 2019-20 to be held in both houses on Tuesday.
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