India should have learnt lessons from the 1962 war but no headway was made in the development of border infrastructure till 2014, he claimed, adding that the Modi government increased the budget for the same from Rs 3,500 crore to Rs 14,500 crore.
The US India Business Council said India's 2010-11 Budget defined important steps aimed at fuelling growth and signaled that the global recession of 2008-2009 is already a remnant of the past for it.
As the Congress batted for a national caste census with an assertion that rights should be proportionate to population, its senior leader Abhishek Singhvi on Tuesday created a flutter by saying "it will eventually culminate into majoritarianism", a remark he later withdrew from social media and blaming it on his staff.
The Taliban's remarks came after Finance Minister Nirmala Sitharaman proposed a $25 million development aid package for Afghanistan in the Union Budget.
India's track record of over-promising and under-delivering also leaves plenty of room for doubt.
"The ray of hope being seen by the world will glow brighter -- for this, I firmly believe the finance minister will make all efforts to meet these aspirations," Modi said.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Housing sector to benefit from Budget.
Railway Minister Mamata Banerjee will present the Rail Budget on July 1.
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
The Budget process is a massive exercise. The exercise has different stages and each stage kicks off at a different stage of Budget making process.
There has been nothing consolidated in the Budget for this section that may transform entrepreneurship in any meaningful way
The Indian budgetary system has become more transparent over the years, with the government providing significant information on the Budget, a survey has said.
India's tremendous success at the Tokyo Olympics seems to have influenced the sports budget as the central government on Tuesday allocated Rs 3062.60 crore for financial year 2022-23 -- an increase of Rs 305.58 crore.
Budget preparation may be one of India's most secret exercises, but what's not under wraps is that the annual financial statement ranks 17th in a transparency index compiled by an American civil society group.
Budget is widely seen as a test of Prime Minister Narendra Modi.
The Budget to be presented in the first week of July is likely to spell the intention of the government to disinvest, but may not give the clear picture on the time-frame and other details on the policy structure, the source added. The exact roadmap for disinvestment will include the extent and coverage of disinvestment, categories of companies -- Navratnas, mini-navratnas or sick companies -- to be included in it.
India's budget for the fiscal beginning April focuses on giving a boost to the ongoing economic recovery through a sharp increase in capex spending but is short on major growth-enhancing structural reform announcements, Fitch Ratings said Wednesday. The deficit targets present in the Union budget 2022-23 by Finance Minister Nirmala Sitharaman on Tuesday "are a bit higher than our forecasts when we affirmed India's 'BBB'/Negative sovereign rating in November," said Jeremy Zook, director and primary sovereign analyst for India, Fitch Ratings. While it was widely expected that the fiscal deficit will be lower than the targeted 6.8 per cent of the GDP in the current fiscal year ending March 31, 2022, Sitharaman put the number at 6.9 per cent.
Corporate America has showered kudos on Finance Minister Pranab Mukherjee for his latest Budget, describing it as a 'very forward-looking confident budget'.
"If India truly wants to be a superpower," Dr Abhijit Vaidya tells Kangana Pandiya, "48 per cent of our people cannot be malnourished. We need to ensure health for all."
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 interim finance minister said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.
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.
'Any future course of action towards active participation in the alliance when formed would need a lot of deliberation, long term vision and should be in our best national interests,' notes Commodore Vengalil Venugopal (retd).
"PM and FM are clueless about how to solve their self created economic disaster," Rahul charged on Twitter.
The hike in the budget is the lowest increment in recent years apparently due to the heavy disruption caused to its economy by the COVID-19, according to the official media.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
Expected cut in withholding tax for debt investments.
Earlier, ratings agencies like Standard and Poor's and Fitch had threated to downgrade India's sovereign credit rating to junk grade in view of the worsening fiscal position of the government.
It believes that there had been "little progress" in structural reforms.
India's budget could have been more ambitions on the fiscal front.
India's budget for 2015/16 highlighted the government's commitment to keeping the fiscal deficit low.
More than two decades after economic liberalisation, the government continues to play such a massive role in the economy and industry that the Budget has become a big-bang revenue-earning exercise for the media.
.jpg)
The Hinduja brothers, who top Britain's rich list, said in a statement that Finance Minister Arun Jaitley's Budget had set the direction for a 'very positive long-term agenda'.
The National Health Protection Scheme -- announced by the finance minister -- is aimed at benefiting 10 crore poor families by providing coverage of up to Rs 5 lakh per family per year.
Legal sector may be opened up for foreign investment.
The government's fiscal profligacy has made a mockery of the FRBM Act.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances