The most worrying aspect of defence budgeting is that the military's long-term equipment planning is based on fundamentally flawed fiscal assumptions.
Withdraw mandatory excise duty of 10 per cent on branded garments and made ups while continuing optional routes for all segments in the textile and clothing sector.
The first part of the Budget Session of Parliament is likely to end on February 13 instead of February 15, sources said on Friday, underling that the total number of working days would however remain the same.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
The early tabling of the financial Budget ends a 70-year tradition.
Finance Minister Nirmala Sitharaman on Thursday said Pradhanmantri Suryodaya Yojana will enable one crore families to get up to 300 units of free electricity monthly and help them save up to Rs 18,000 annually. "There is provision of Rs 10,000 crore for rooftop solar (scheme) in the Budget," said finance secretary T V Somanathan in press conference on Budget later in the day. Earlier in the day Sitharaman in her interim Budget speech said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity each month.
Urban Development Ministry had in June last year released the guidelines.
The central government's Great Nicobar development project, proposed around an unprecedented transhipment port, will be executed to keep environmental impact minimal, and is essential as it is of national importance, the government has said amid calls to abort the controversial project due to ecological concerns, the Centre said in an official statement.
As part of its fiscal tightening measures, the finance ministry has asked all government departments not to seek any increase in their allocations for 2009-10 over and above what has already been provided for in the Interim Budget presented on February 16.
The sports ministry, on Thursday, received a hike of Rs 258.2 crore in the union budget for 2018-19, presented by finance minister Arun Jaitley in the Parliament in New Delhi.
It is never too early to start teaching children the value of money and the importance of finance planning.
Budget 2013-14: An analysis from the environment-development perspective
Rs 193,407 crore provision made for defence services in 2012-13.
With the farmers' protest against the three new laws and in support of legalising the minimum support price (MSP) going strong, state governments have announced a slew of measures in their annual Budgets to placate farmers. The Centre kicked things off in the Union Budget by assuring farmers that the MSP would continue and coming out with a report card to demonstrate its commitment. However, these efforts don't seem to have yielded tangible results. In their respective Budgets, states chose to go a step further by announcing a variety of measures.
FinMin has already sought inputs from different central ministries for the Budget speech, which would be the last Budget of the current BJP-led NDA government before the 2019 general polls.
'We are in a position to start due diligence and private data room access shortly.'
Concerned over poor budget allocation for the farm sector, Agriculture Minister Sharad Pawar on Sunday said it may be difficult to implement the proposed Food Security Bill without adequate funds to boost agri-output, a must for increased foodgrain requirement.
Forget about interim Budgets, one cannot easily recall even a full Budget of any government in recent times having rolled out benefits of this order to such a large number of people, says A K Bhattacharya.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
'The BJP has everything to lose if it performs poorly in UP. It dreads a repeat of Bihar,' says Rajeev Sharma.
Government managers are asking for a 60 per cent rise in allocation for the scheme in the next financial year. Rs 20,854 crore (Rs 208.54 billion) had been spent on the scheme until December 2010. Rs 64,000 crore (Rs 640 billion) has been sought for the coming financial year.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
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.
Finance Minister Nirmala Sitharaman also proposed Rs 35,000 crore outlay for COVID-19 vaccines for the next fiscal and announced the rollout of pneumococcal vaccines across the country to help save over 50,000 deaths annually.
'Who is the IPL's best bowler? His name is Jasprit Bumrah. He gets Rs 12 crore and Starc almost 25. That's wrong.'
The allocations for social sectors either have been maintained or increased.
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
India on Wednesday raised its concerns over millions of rupees allocated by Pakistan's Punjab province government to Jamat-ud-Dawa-led by Mumbai terror attacks mastermind Hafeez Saeed, saying New Delhi would "carefully" analyse the matter before taking it up with Islamabad.
Terming infrastructure as the "backbone" of any nation's development, Goyal while presenting the interim Budget for 2019-20 in the Lok Sabha said India aspires to be a USD 10 trillion economy in the next eight years, and on the anvil is next generation infrastructure of roads, railways, seaports, airports, urban transport, gas and electric transmission and inland waterways.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
The government has approved the 'Terms of Reference' for the 16 Finance Commission, which makes recommendations on sharing of tax revenues between the Centre and states. The recommendations would cover a five-year period commencing April 1, 2026, Information and Broadcasting Minister Anurag Thakur said on Wednesday, giving details about the decisions taken at the Cabinet meeting last evening. The commission would submit its report by October 31, 2025, Thakur said.
Finance Minister Pranab Mukherjee has done the right mix of moderation on the price front, Prime Minister Manmohan Singh said.
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.
Finance Minister Arun Jaitley presented the Budget today.
The government of Pakistan's Punjab province has justified its allocation of over Rs 61 million to the largest centre of the Jamaat-ud-Dawah, saying the funds are needed to continue the services being provided to people by the facility.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
The speech was filled with references to a large number of allocations ranging from a few crores of rupees to a few thousand crores, all apparently being given equal importance, at least in terms of word count!
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
Here is a handy guide on all your investments tools and how they will be treated this fiscal.
