BUDGET 2024 IMPACT ON INFRASTRUCTURE
Govt’s infrastructure focus makes sector funds a compelling choice
With the National Democratic Alliance (NDA) returning to administration for a third consecutive term and the 2024 Union Budget round the corner, analysts expect the government to retain focus on the infra sector with a sustained budgetary allocation.
Budget 2024: Tata Motors expects policy continuity in electric mobility
Tata Motors expects policy continuity in the upcoming Union Budget and calls for more players in the charging infrastructure space for faster adoption of electric mobility in India. The new NDA government is expected to present the Union Budget next month, with GST and PLI schemes already in place.
Section 80C deduction in Budget 2024: Will the government increase Section 80C limit under the old income tax regime in Budget?
Section 80C deduction in Budget 2024: The 80C limit has not increased in line with many people's income and costs. Because of this gap, many taxpayers use the entire 80C limit. This is why many want this limit to be increased.
Budget 2024 HRA Exemption: Will Bengaluru, Hyderabad, other non-metro cities be included in 50% HRA tax exemption list?
Budget 2024 HRA Exemption: Many employers offer an HRA as part of their employees' compensation. If an employee receiving HRA is paying rent for their accommodation, they can claim a tax exemption on the HRA. Currently, a rented house in Delhi, Mumbai, Kolkata, and Chennai qualifies for a 50% exemption from HRA, while those located in other places come under the 40% bracket.
ETMarkets Smart Talk: Reforms to attract FDI, simplification of tax regime & green energy likely in Budget 2024: Gurpreet Sidana
The positive trends in global markets, favourable domestic economic data, and optimism regarding corporate earnings growth have further bolstered market sentiment.
RSS-affiliate union seeks extension of mandatory work under MGNREGA to 200 days in pre-Budget meet
BUDGET EXPECTATION: In its pre-budget meeting with the finance minister Nirmala Sitharaman on Monday, BMS general secretary Ravindra Himte demanded increasing the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from Rs 1,000 to Rs 5,000 while enhancing of honorarium of scheme workers, especially for Asha, Aanganwadi, Mid-day Meal and National Health Mission workers, the central trade union said in a statement issued on Tuesday.
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Indian Budget 2024: Jefferies sees affordable housing, capex-related businesses, consumer goods sectors getting the most benefit
Budget 2024 anticipates positive impacts on various sectors, with potential benefits for consumer goods and affordable housing. The budget may include tax cuts, interest subsidy reintroduction, and stable capital gains tax policies, fostering economic growth and fiscal prudence.
Union Budget 2024: Incentivise capex, rationalise GST rates on EVs, components make part of ACMA's Budget wishlist
Auto components industry body ACMA has proposed measures to boost the auto component sector, including incentivizing capex expenditure, increasing depreciation rates on plant and machinery, and rationalising GST rates on EVs and their components. The recommendations were submitted to the Ministry of Finance and the Ministry of Heavy Industries.
States seek infra, rural push in pre-budget meet with FM Sitharaman
States presented demands for higher special assistance, increased allocations for rural schemes, and support for housing programmes to Finance Minister Nirmala Sitharaman in the pre-budget meeting. Sitharaman highlighted the Centre's aid to states through timely tax devolution and release of GST compensation arrears. Andhra Pradesh requested central funds for various projects and initiatives, including the development of Amaravati as its capital.
Budget 2024: What is a Populist Budget and why is it controversial?
A populist budget is a fiscal plan focused on immediate public appeal through measures like tax cuts and social spending increases. Criticized for prioritizing short-term benefits over long-term economic stability, such budgets can lead to fiscal deficits, inflationary pressures, and disparities in resource distribution, while potentially undermining independent economic institutions.
Budget 2024: What is Dividend Distribution Tax? Know How it will abolition impact the Indian economy?
In 2020-21, India's government abolished the Dividend Distribution Tax (DDT), shifting the tax burden on dividends from companies to shareholders directly. The move aimed to simplify taxation, enhance market appeal for Indian equities, stimulate domestic investment, and potentially attract more Foreign Direct Investment (FDI) into the country's economy.
Union Budget 2024 date and time; Check the common FAQs, answers to budget related questions here
Budget 2024: India’s Finance Minister Nirmala Sitharaman will present the Budget for 2024-2025 in late July amidst global uncertainties and conflicts. Business leaders have called for reduced income taxes, increased capital expenditure, and measures to control food inflation. Emphasis is also on bolstering infrastructure and the MSME sector to sustain economic growth.
Budget wishlist from agriculture & MSMEs stakeholders: Sops, infra push, easy loans and PLI schemes
Stakeholders from the agricultural sector and MSMEs provided key suggestions to Finance Minister Nirmala Sitharaman during pre-budget consultations. Suggestions included rationalizing fertilizer subsidies, boosting agricultural infrastructure investment, and implementing employee-centric production-linked incentive schemes.
Finance Minister Nirmala Sitharaman chairs fifth pre-budget consultation with MSME representatives
Union Minister Nirmala Sitharaman chaired the fifth Pre-Budget Consultation in New Delhi, focusing on inputs from the MSME sector for the forthcoming General Budget 2024-25.
Budget expectation of farm sector: Spotlight on agri research, fertiliser subsidy, climate fight in meeting with FM
Budget 2024 expectations: Experts at the meeting advocated for the consolidation of all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and proposed a hike in the retail price of urea, unchanged since 2018. They also emphasized promoting bio-fertilisers and foliar fertilisers through subsidies.
Budget 2024: Modi 3.0 may have to redo the Budget math to provide more money to Naidu & Nitish-ruled states
Union Budget: Following recent Indian election results, Prime Minister Narendra Modi reasserts control over the federal government. Despite depending on various allies for support, none have significant ministerial roles. The focus shifts to relations between New Delhi and influential state governments, with demands for increased federal funds. The upcoming budget will reveal potential shifts in India's policy landscape.
Budget 2024: India looks for infra push; may tap funds from UK, Saudi & Japan
In the upcoming Budget, Finance Minister Nirmala Sitharaman is set to prioritise infrastructure investment to boost demand for steel, cement, and create jobs. The Indian government eyes funding from the UK, Saudi Arabia, and Japan for specific projects like roads and highways. Investor concerns, equity offerings, and environmental considerations are key factors in attracting investments.
Union Budget 2024: Here is how revenue, fiscal and primary deficit impacts the Indian economy
Union Budget 2024: A revenue deficit arises when a government's day-to-day expenses surpass its total revenue receipts, necessitating borrowing, divestments, or adjustments in taxes to bridge the shortfall. In contrast, a fiscal deficit occurs when government expenditure exceeds its total receipts, influencing aspects like economic growth, price stability, production costs, and inflation.
Pre-Budget meeting with FM: Tax sops, higher capex, stable tax regime top industry wishlist
Budget expectations: Indian industry and financial institutions had their customary pre-budget consultations with Finance minister Nirmala Sitharaman on Thursday. The suggestions from India Inc included tax sops, capex boost as well as tax stability.
Budget 2024 FAQs: Quick guide on how to read and understand the Budget
Budget 2024 FAQs: The Budget acts as a detailed plan outlining the government's anticipated income and spending for a fiscal year, covering from April 1 to March 31 of the subsequent year. This financial blueprint is pivotal in defining the nation's economic priorities and allocating resources accordingly. After the finance minister delivers the budget speech in the Lok Sabha, these essential documents are promptly uploaded to the official website, ensuring quick and widespread access to critical financial information.
Union Budget 2024: Key facts and insights you need to know
Union Budget 2024: India's inaugural Budget was announced in pre-independent India on April 7, 1860, by Scottish economist and politician James Wilson of the East India Company, presenting it to the British Crown. Following Independence, India's first post-independence budget was presented on November 26, 1947, by then Finance Minister R K Shanmukham Chetty.
Hike capex by 25%, reduce GST slabs to maximum of 3 in Union Budget: FICCI tells Nirmala Sitharaman
Budget 2024: Industry lobby group FICCI in pre-budget consultation with Finance Minister Nirmala Sitharaman in Delhi emphasized the need to support growth momentum, infrastructure development, rein in food inflation, support MSMEs, and prioritize innovation and research & development for accelerated growth.
Focus on agriculture sector in Budget 2024 as it can generate employment: PHDCCI
Budget expectations: In its pre-Budget recommendations to the Finance Ministry, PHD Chamber of Commerce and Industry (PHDCCI) emphasized focusing on the agriculture sector as a vital employment generator. With a significant portion of India's workforce in agriculture, PHDCCI advocates for boosting rural infrastructure, increasing public and private investments, and reducing post-harvest losses.
Budget 2024: How about a 'Robot Tax' in Budget? Economists pitch the idea for AI-hit jobs
Union Budget: Economists discussed the upcoming Budget with Finance Minister Nirmala Sitharaman, focusing on growth, fiscal policy, investment, private sector involvement, food inflation, and debt. Key topics included the impact of AI on employment, 'robot tax' proposal, IMF recommendations, challenges faced by developing countries in adapting to AI technology, and insights from Gita Gopinath.
Income tax relief for those in lowest slab may need to be considered in Budget: CII
Sanjiv Puri, newly-elected CII President, advocates potential income tax relief for the lowest slab amidst high inflation in the upcoming 2024-25 Budget. He proposes institutional platforms for consensus-building on reforms, emphasizing public capex, fiscal discipline, and investment in social infrastructure. CII anticipates inflation around 4.5%, urging RBI rate cuts by year-end.
Budget 2024: Rs 11.11 lakh crore of capex plan not enough? CII wants more in budget to push growth
The Confederation of Indian Industry (CII) is advocating for a 25% increase in India's capital expenditure in the upcoming Budget to drive economic growth and strengthen competition. CII President Sanjiv Puri noted the improvement in private investment and favorable investment climate. The full Budget is expected in late July, focusing on sustaining high growth, inclusivity, employment, GST rationalization, and easing tax compliance.
Govt needs to adopt granular approach to support biz, promote jobs: PwC Chairman
PwC in India Chairperson Sanjeev Krishan emphasizes the need for a granular and tailored approach to support small businesses, promote job creation, and ensure inclusive economic growth in Modi 3.0 government's agenda.
Modi 3.0: How different will be the third Modi government
Narendra Modi is scheduled to take take oath for the third term as India's Prime Minister in a changed political landscape. Allies demand concessions, potentially affecting economic agenda. Expectations for populist budget with focus on welfare and rural areas, though concerns raised over economic impact. Reform agenda may face challenges due to weakened mandate, but continuity likely in infrastructure investment and business environment improvements.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
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