Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The capital outlay for the three services, for modernisation, stood at Rs 78,586.68 crore
Industry captains share their views on the Budget.
The BJP presented a surplus, farmer friendly budget for Rs 18.85 crore for the year 2008-09. Emphasis was also given to Bengaluru city with Rs 36,000 crore being allocated for infrastructure development. In his budget speech, Yeddyurappa said that the main intention was to improve the image of Bengaluru and put it on the global map. For this to take place the development of infrastructure was the key.
A roadmap for the consolidation of public sector banks will be outlined during the year.
The Trump administration's proposal to significantly cut the budget of international health, development and diplomacy is a "grave mistake" which will "undermine" America's world standing, former US Secretary of State Hillary Clinton has said.
Despite strong private sector interest and a Rs 750-crore (Rs 7.5 billion) Budget allocation, not a single agreement has been signed between the government and the private sector to upgrade 300 Industrial Training Institutes (ITIs) to centres of excellence within the target of this fiscal, which has three and a half months to run.
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
Billed as the first exercise of its kind in demystifying the process of drawing up Budget, Andhra Pradesh on Wednesday made public the draft Budget for 2003-04 that earmarks over 40 per cent of total allocations to irrigation and power.
Modi's government is also working on a universal health coverage plan that would provide all citizens with free drugs and diagnostic treatment.
It said the Central and state governments must make adequate fiscal allocations for computerisation and connectivity from Information Commission level to divisions and sub-division level public authorities so as to effectively operationalise the provisions of the RTI Act.
Ramalingam Kalirajan explains the pros and cons of both investment types.
'On the tax front, most of the Budget proposals are sensible'.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Can Jaitley's team hope to garner 17% more on personal income tax?
The COVID-19 pandemic and the ensuing restrictions in mobility may result in a 75 per cent reduction in the budgetary allocation for foreign travel in FY22, a senior finance ministry official said. The government will cut "frivolous expenditure" when all the activities are going on in the virtual mode, joint secretary in the ministry of finance, Madnesh Kumar Mishra, said in an event organised by XLRI. It can be noted that the budget for the next fiscal is under preparations right now and officials are also having discussions internally and also with external stakeholders for suggestions.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
As per figures made available on Monday, although the ministry was given an allocation of Rs 65 crore (Rs 650 million), it could spend only Rs 45 crore (Rs 450 million) last year. This ministry had made a representation to the finance ministry seeking an allocation of Rs 85 crore (Rs 850 million) for the current year.
Parrikar, who is suffering from pancreatic ailment, presented a revenue surplus state budget sitting on his chair in the state assembly, with a tube inserted through his nose.
Fifty-six months on, the government's record in implementing these schemes and projects has been mixed, report Arup Roychoudhury and Indivjal Dhasmana.
Shipping: Policy to increase India flagged tonnage soon
Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure
BJP on Thursday released its manifesto for the Jharkhand assembly polls.
Goyal's move was criticised by the Opposition saying with general election months away, the Prime Minister Narendra Modi-led government had mandate only to present a vote on account and a Budget containing direct tax proposals.
Modi govt must implement few policy measures which it announced in Budget 2015.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
This came to light on the floor of the Uttar Pradesh Assembly where a supplementary budget of Rs 10,879 crore (Rs 108.79 billion) was tabled during the course of the on-going monsoon session in Lucknow on Tuesday.
The Budget has stuck to annual increases in agri credit targets.
In the pre-budget Economic Survey 2010-11, the Union finance ministry made a strong pitch for the pro-growth impact of investment in human capital adding, "fortunately, there is awareness of this in India and efforts are afoot in terms of budgetary allocation and actual initiatives to boost the development of skill and human capital."
Ahead of Finance Minister Pranab Mukherjee's meeting with opposition parties on Tuesday, Bharatiya Janata Party on Saturday said there would be no dilution in its stand on a Joint Parliamentary Committee probe into the 2G spectrum scam and threatened to disrupt the budget session of Parliament if the demand was not met.
The Railway ministry has been allocated budgetary support of Rs 140367.13 crore in the Union Budget on Tuesday - Rs 20,311 crore more than the revised figures of the previous fiscal. Overall, the national transporter is set to get a capital expenditure (CapEx) push of Rs 2.45 lakh crore in the financial year 2022-23, 14 per cent higher than the budgeted capital expenditure of Rs 2.15 lakh crore for the current financial year. Finance Minister Nirmala Sitharaman in her Budget speech for 2022-23 said that India will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years.
Govt to set up a technical institute for workers
The previous budget had allocated Rs 1,581 crore.
According to an Assocham survey, India Inc is not expecting much for itself in the upcoming Budget. The Budget is most likely to benefit the common man.
The government is learnt to have described the Union Budget as an annual constitutional exercise covering the entire country and not just a few states.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
