The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
The idea is to monitor centrally sponsored schemes, partly funded schemes, loans, programmes and any other endeavour into which funds are pumped.
Rural budget set to increase; likely to enhance market linkages for agri commodities
Government will roll out National Rural Employment Guarantee Act scheme in all the 596 rural districts in the country in 2008-09.
Sitharaman said the government will bring in a new national education policy to transform India's higher education system into one of the best in the world.
The Union budget for 2023-24 has allocated Rs 1,258.68 crore for various heads of expenditure of the Union cabinet, including salaries, sumptuary and travel by ministers and entertainment of foreign state guests.
This is the full text of the address to the nation by President Droupadi Murmu on the eve of India's 78th Independence Day.
This is the first "Green budget" of the government for effective containment of pollution in the city, the deputy chief minister said in the budget session of the assembly in the presence of Chief Minister Arvind Kejriwal.
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
After dropping a Rs 5,000 crore plan to fill parts of strategic oil storages, the government will lease out space in the underground rock caverns to domestic and international firms to store oil, a top executive said on Tuesday. India Strategic Petroleum Reserve Ltd has built underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store 5.33 million tonnes of oil that can be used in any emergency situation like supply disruption or war. UAE's Abu Dhabi National Oil Company (Adnoc) has already hired half of the 2.5 million tonnes storage capacity at Padur and 1.5 million tonnes facility at Mangalore.
The increase in India's military spending was "mainly a result of growing personnel and operations costs" which made up almost 80 percent of the total military budget in 2023, the SIPRI report claimed.
'We need to put aside our anxieties about the Budget for now and possibly for long, and carry on as best as we can,' advises Shreekant Sambrani.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
The idea behind advancing the Budget date is to ensure that the Finance Bill is passed before the start of the financial year, on April 1, so that all central government departments get their full allocations to work with right from the first day
'SC and ST entrepreneurs are showing promise in starting and running businesses'.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations.
Rural outlay may go up 23% to reduce pains of demonetisation
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
Begin the year-end review by assessing whether your portfolios are on track to achieve your life goals.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Officers responsible for preparing budgets say their detailed costing projections are mostly ignored. The defence ministry simply takes the previous year's budgetary allocations for each service and adds a small percentage to those.
Pakistan's cash-strapped new government announced a hefty 15 per cent hike in its defence budget to Rs 627 billion, with the powerful army getting the lion's share of the outlay.
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.
Finance Minister P Chidambaram's budget may have evoked mixed reactions across the country but it has brought a smile on the faces of officials in the Forest Department. The Forest Department in Karnataka, which is all smiles after the state was ranked second in tiger conservation, says the additional allocation of funds will help them go about their job better.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
Finance Minister Nirmala Sitharaman on Wednesday allocated nearly Rs 12,544 crore to the department of space as India plans a human spaceflight -- Gaganyaan -- next year and sets out to explore the moon and neighbouring planets.
Modi claimed that some other parties were also helping the opposition alliance from behind but any vote for them will take Tripura several years backward.
United Arab Emirates is the favourite to host the ODI tournament in March.
The focus is likely to be on consolidation and improvement of existing rural-centric programmes to ensure their completion ahead of the next general elections in 2019, rather than announcement of new schemes. Sanjeeb Mukherjee and Arup Roychoudhury report.
The allocation was part of the budget 2014-15 presented by Finance Minister Arun Jaitely on Thursday.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
Presenting the Budget in Lok Sabha, Sitharaman said the outlay for the Railways is nine times the amount provided in 2013-2014. She said 100 critical transport infrastructure projects for last- and first-mile connectivity for coal, fertiliser and food grain sectors have been identified and will be taken up on a priority basis with investment of Rs 75,000 crore, including Rs 15,000 crore from private sources, she said.
'The vision now is not just to look at national highways as a number of kilometres, but quality as well.'
China on Friday hiked its defence budget to $209 billion, maintaining a single-digit growth for the sixth consecutive year with a 6.8 per cent increase in 2021.
'For the next two years, we expect the bulk of earnings growth contribution from sectors like financials and energy, where the outlook remains positive, while the sectors which are linked to domestic consumption and are currently witnessing strains on margins have low salience for Nifty earnings.'
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
