Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
The Zoram People's Movement (ZPM) stormed to power in Mizoram by dethroning the Mizo National Front (MNF) bagging 27 seats in the 40-member House on Monday.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
Here are the key highlights of the BJP's 'Sankalp Patra' for the 2024 parliamentary polls.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
The top court's remark came while setting aside an order of the Madras high court which directed the Tamil Nadu government to create the posts under the designation.
'The life of his political career is dependent on success in this constituency.'
The rural development ministry has come in direct conflict with the communications ministry, which has refused to accept its request for disbursing wages under the rural job scheme through post offices without charging any fee.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
The statement of Gudha came after former Congress chief Rahul Gandhi batted for the "one-man, one-post" concept in lines with the party's Chintan Shivir reforms amid possibility of Gehlot contesting election for the post of national president of the party.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
Though the contest is tough in Baramati, Sule has an edge over her rival as the locals may not break the pattern that she is meant for the Lok Sabha and Ajit Pawar for the state assembly, the political analyst felt.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
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 censor board asked me for some strange cuts.' 'Otherwise, they would have given me an 'A' certificate.' 'One cut was where Girish Karnad was explaining artificial insemination in cattle.' 'These cuts never made any sense to me.'
"One thing I want to make it clear that this case will be thoroughly investigated. There will not be any interference or direction from our side. Police will independently investigate the case and truth will come out," Bommai said addressing a press conference in Mangaluru.
'All my wealth I earned in the US. It is all money earned transparently. I have paid all taxes.'
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
Instructions from the Union rural development ministry to the state officials on the WhatsApp group show that the chat was also used as an off-record avenue for the Union government to pass instructions, which it could not have done through formal channels, keeping the law in mind.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
Eshwarappa would turn 75 in June, the unofficial age bar in the BJP for leaders to contest polls and hold official positions.
'MGNREGA is definitely like a lifeline and is the employer of the last resort'
With many of his close associates leaving his side, it is virtually a lone battle for Congress stalwart Kamal Nath to help his parliamentarian son Nakul Nath win from Chhindwara for a second time amid the Bharatiya Janata Party's aggressive push to wrest the seat.
The Odisha government told the assembly over 40,000 workers migrated from the state last year, with the highest number -- 26,151 -- from Balangir.
The state anthem was played on the last day of the budget session and BJP MLA Jibesh Kumar Mishra was seen remaining seated through it.
He was trolled during the Lok Sabha poll campaign, but despite the tactics by his rivals, action hero Suresh Gopi rose to national stardom in cinema style on June 4, winning the Thrissur seat on a BJP ticket and scripting history for the saffron party in Kerala.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, has approved a three-month extension in Sudan's service, beyond the date of her superannuation, i.e. April 30, a personnel ministry order said. She will continue to function as the secretary of the Department of Health and Family Welfare during the period, it said.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
Nayak had earlier resigned from the BJD and joined the BJP and got a nomination from the saffron party.
Mann made the claim while addressing a gathering after laying foundation stones for setting up tehsil complexes at Dirba and Cheema in Sangrur.
Sacked Rajasthan minister Rajendra Gudha on Wednesday made public three pages of the purported "red diary" which he has claimed contains the details of financial misdeeds of the Congress government and cited their contents to allege corruption in Rajasthan Cricket Association election.
Chhattisgarh Health Minister T S Singh Deo, who is locked in a power tussle with Chief Minister Bhupesh Baghel, has said he will decide about his future ahead of the state assembly elections which are due in 2023.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
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