Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
So tell us, does Sitharaman's 7th consecutive Budget deserve cheers or boos?
Finance Minister Pranab Mukherjee presented the Union Budget for 2012-13 on Friday.
The Centre's fiscal deficit at the end of the first five months of the current fiscal touched 27 per cent of the full-year target, government data showed on Monday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was at Rs 4,35,176 crore as of August-end, according to data released by the Controller General of Accounts (CGA). The deficit stood at 36 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism. Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26. Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site.
Debroy's economic interests and research work covered numerous areas such as economic theory, income inequality, and infrastructure financing.
The party, rallying in his support, campaigned that national icons like Periyar EV Ramasamy, Dr BR Ambedkar and Naryana Guru had spoken against discrimination including those based on a person's birth. That the Sanatan Dharma controversy cut no electoral ice in Tamil Nadu was also seen as a success for Udhayanidhi.
The Budget Session will be held from January 29 to April 6.
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
What is the Budget? Why is it so important? Why does it affect all of us? And, above all, how does one interpret the budgetary lingo flying around?
The Union Budget 2024-25 on Tuesday allocated Rs 2,19,643 crore to the Ministry of Home Affairs with the majority of it -- Rs 1,43,275 crore -- being given to central police forces like Central Reserve Police Force (CRPF), Border Security Force (BSF), and Central Industrial Security Force (CISF) which are responsible for internal security, border guarding, and security of vital installations.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Fiscal deficit planned to reduce to 4.8 per cent in FY2014, subsidy bill remains elevated. Proposes to reduce fiscal deficit to 3%, the revenue deficit to 1.5 per cent and the effective revenue deficit to zero by FY2017.
The session will conclude on July 3.
When the internal security situation spirals out of the control of the provincial law and order machinery, the CAPFs can be called in, providing a security buffer before the Army is deployed.
S&P Global Ratings on Tuesday retained India's growth forecast at 6.8 per cent for the current fiscal and said it expects the RBI to start cutting interest rates in its October monetary policy review. In the economic outlook of Asia Pacific, S&P Global Ratings also retained its GDP growth forecast for the 2025-26 fiscal at 6.9 per cent and said solid growth in India will allow the Reserve Bank to focus on bringing inflation in line with its target.
A higher level of private sector financing and resource mobilisation from new sources will be crucial for India to build quality infrastructure, according to the Economic Survey 2023-24. The Economic Survey 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday.
Union Finance Minister Nirmala Sitharaman on Tuesday said the fiscal deficit for 2024-25 is estimated at 4.9 per cent of GDP.
As the row erupted in Parliament, the Congress said the Gandhi family's caste is martyrdom but the BJP-RSS will never understand that.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
The Halwa ceremony, marking the final stage of the budget preparation process for Interim Union Budget 2024, was held in North Block on Wednesday in the presence of Union Finance Minister Nirmala Sitharaman. Union Minister of State for Finance Dr Bhagwat Kisanrao Karad was also present. A customary halwa ceremony is performed every year before the "lock-in" process of Budget preparation begins.
Finance Minister Arun Jaitley presented his first Budget on Thursday.
The Indian government has come out with a nice name for its tried and tested 220MW pressurised heavy water reactor -- Bharat Small Reactor.
Captains of the Indian industry on Monday welcomed the Union Budget 2005-06 describing it as growth-oriented.
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.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
This will be the first budget presented by the government led by Prime Minister Narendra Modi in its third term amid high anticipation following President Droupadi Murmu's assertion that it will be marked by many historic steps.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
The Industries Association of Uttarakhand, an organisation of MSMEs, has prepared an agenda for the Budget.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Leading brokerages have revised their charges with the true-to-label norms by the Securities and Exchange Board of India (Sebi) kicking in from Tuesday.
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
What is the Budget? Why is it so important? Why does it affect all of us? And, above all, how does one interpret the budgetary lingo flying around?
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