'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
CII director general Tarun Das said, "It has outlined new strategies for growth with reduction of excise duty."
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.
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.
With only one day left for the House to go into month-long recess, the Chair directed members to lay their written speeches so that the crucial money bill could be returned in time.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
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.
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.
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.
The session will conclude on July 3.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
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 Union Budget delayed because of elections in five states will now be presented on March 16, four days after Parliament will begin its Budget session.
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.
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.
The Union Budget may be presented around the middle of March in view of the ongoing Assembly elections, Finance Minister Pranab Mukherjee indicated on Wednesday.
Debroy's economic interests and research work covered numerous areas such as economic theory, income inequality, and infrastructure financing.
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.
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.
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.
If the union Budget were a human being it would score high on body language.
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.
Kautilya, widely known as pioneer of economics in India and author of Artha Shastra (rules of economics), was invoked for the fourth time in the country's annual Union Budget speech on Friday, including thrice by the incumbent Finance Minister Pranab Mukherjee.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before 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.'
The Union Budget for 2004-05 was presented in the Lok Sabha today by Finance Minister P Chidambaram. In his opening remarks, Chidambaram said the verdict in the recent general elections was a vote for a change in the manner in which the government wa
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.
Chief Election Commissioner Nasim Zaidi has written to Cabinet Secretary P K Sinha who is likely to consult the parliamentary affairs ministry before framing his response on the government's plans to advance the budget presentation to February 1, sources said.
Indian National Developmental Inclusive Alliance (INDIA) MPs, including Congress president Mallikarjun Kharge, Congress Parliamentary Party chief Sonia Gandhi and Leader of Opposition in the Lok Sabha Rahul Gandhi, staged a protest in Parliament premises on Wednesday over the alleged discrimination against opposition-ruled states in the Union Budget.
Standard deduction of 40% or Rs 30,000 whichever is less for salary till Rs 5 lakh, above Rs 5 lakh, 20,000.
These schemes will be based on enrolment in Employees' Provident Fund Organization (EPFO), Sitharaman said in the Lok Sabha.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
The Indian government has come out with a nice name for its tried and tested 220MW pressurised heavy water reactor -- Bharat Small Reactor.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
'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.'
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
The finance minister may stagger some of the recommendations.
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