BUDGET CIRCULAR
Your take-home salary may increase after Budget 2024: Here is why
Will the changes to the income tax slabs in Budget 2024 take effect on April 1, 2024 or another date? Also, will employers be able to offer the option to choose the tax regime again after the changes are announced? Read on to find out.
Union Budget: These infra measures will give a roadmap for the infrastructure for the next five years
UNION BUDGET 2024: Finance Minister Nirmala Sitharaman 8in the Interim Budget 2024-25 outlined India's focus on infrastructure, with ₹11.1 lakh crore allocated for capital investment, up 11% from the previous year. Despite fiscal challenges, the budget emphasizes project completion, private sector participation via incentives, and sustainable infrastructure development. Key areas include digital infrastructure, tourism, water management, and safety improvements in transportation sectors.
Market can only go up now irrespective of Budget. Here's why
The Street has discounted the defence manufacturing stocks too much into the future. Even the earning visibility has been discounted. It is a fast-moving train; it does not make sense to get onto that train at this point. There are many choices when it comes to rural play – two-wheelers, fertilisers, pesticides and M&M, says Dipan Mehta.
Process to pick GSTAT judicial and tech members to start after Budget
Sanjay Malhotra's panel progresses GSTAT selection with an advanced appeals portal. Mishra heads GSTAT amid delays, critiqued by Mathews. GST Council sets time and monetary limits for cases, enhancing tribunal functionality.
Bengaluru Circular Rail Link project work starts. Key updates, routes and other details
The 287-km Bengaluru Circular Rail Link aims to reduce congestion and enhance connectivity around the city's outskirts with a Rs 23,000 crore budget. The state government will cover land acquisition costs, while the Railways handle construction. The project, crucial for complementing the Bengaluru Suburban Rail Project, is progressing with the detailed project report for Devanahalli to Doddaballapur nearly complete.
Who will present Budget 2024 and how is it prepared?
Union Budget 2024: Finance Minister Nirmala Sitharaman is set to present her seventh consecutive Union Budget since 2019, joining a distinguished group of finance ministers who have delivered at least five consecutive Union Budgets. This year's budget will be the first full budget presented as part of Modi 3.0, with a notable shift to a paperless format. The budget-making process typically begins in September, over six months before the presentation date, generally on February 1. The Finance Ministry issues budget-related circulars to various entities, including states, Union Territories, Union Ministries, Defense forces, government departments, and autonomous bodies.
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3 themes to bet on now for pre-Budget plays: Gurmeet Chadha
Gurmeet Chadha says that the market is trying to position on the pre-Budget period. But there are very few pockets which give a lot of valuation comfort. So, we have to be very selective in terms of what we buy and ensure that we do not end up paying very unreasonable valuations in those pockets.
What is expected from the GST Council meeting today?
The GST council may delay the inclusion of petroleum products under GST and the much-awaited rate rationalization. Discussions may also focus on reducing GST on insurance products.
How is the Budget prepared: Insights and expectations for this year
The Indian Union Budget preparation is a meticulous process overseen by the Ministry of Finance (MoF), involving NITI Aayog and other ministries. It begins around August-September, culminating in the February 1 presentation, in a non-General Election year. Defined by Article 112 of the Constitution, it forecasts revenues and expenditures, balancing fiscal prudence with developmental goals through circular issuance, revenue scrutiny, stakeholder consultations, allocation decisions, and the symbolic Halwa Ceremony.
GST Council Meeting: Sin goods windfall, tax relief talks, and more ahead of budget buzz
GST Council Meeting: The upcoming 53rd meeting of GST Council is poised to discuss several key measures that could pave the way for significant tax reforms ahead of the government's first full budget. Among the agenda items are -- the use of approximately Rs 70,000 crore collected from GST compensation cess on products like pan masala and cigarettes. Discussions may also cover the potential waiver of interest or penalties on tax notices issued between 2017 and 2020, excluding cases of deliberate default.
Budget 2024: Five steps of India's Budget formation explained
Budget 2024: The Union Budget, crafted annually by the Department of Economic Affairs within the Ministry of Finance, functions as a comprehensive financial blueprint for the nation. It details projected revenues and expenditures for the forthcoming fiscal year. The preparation process for Budget 2024 commenced six months ahead of its presentation, initiating with the dissemination of Budget Circulars to pertinent ministries and departments.
Budget Basics: What goes into the making of the Union budget? Here's a step-by-step breakdown
The budget-making process begins at the finance ministry, specifically within the Budget Division of the Department of Economic Affairs. A core Budget group, including the finance minister, finance secretary, revenue secretary, expenditure secretary, and the chief economic advisor, initiates the detailed work required to prepare the budget.
10 Best Travel Pillows under 1000 for comfortable and cozy travelling
In this article comfort meets affordability! Go through this list of our meticulously curated assortment of top-tier best travel pillows under 1000 and make travelling more comfortable and comfy. From state-of-the-art memory foam wonders to effortlessly portable inflatables, this handpicked selection is designed to revolutionize your travel experience by offering unmatched neck support and convenience.
IMF urges Pakistan to bring reforms to energy sector
IMF presses Pakistan for energy reforms, debt targets, and subsidy cessation. Ongoing talks with IMF for a new loan program and budget plans to address financial challenges and stabilize the energy sector.
Pakistan assures IMF not to allocate additional budget for China-Pakistan Economic Corridor
Pakistan government reassures IMF about no extra budget for Chinese power plants. Ministry of Energy faces criticism for electricity price hike. Circular debt from CPEC projects raises concerns. Violations of Energy Framework Agreement highlighted.
Are you eligible for tax demand waiver of Rs 25,000? May be yes, may be no
Tax demand notice withdrawal in interim Budget 2024: The finance minister Nirmala Sitharaman has announced the withdrawal of tax demand notices of up to Rs 25,000/Rs 10,000 for certain financial years. However, according to tax experts, there are certain grey areas which needs clarity on who will get benefit for this announcements.
Interim Budget seals India's plan for higher taxes on your foreign holidays
The Interim Budget 2024 includes the inclusion of increased Tax Collected at Source (TCS) rates on foreign remittances into the Income Tax Act as an amendment. The adjustment is awaiting parliamentary approval and will affect foreign expenditures exceeding Rs 7 lakh annually per individual.
Budget recap: Tax tweaks and other key policy changes FM Nirmala Sitharaman made last year
Budget 2024: There is significant interest around the coming budget, despite the fact that it is going to be an interim budget. Last year's announcements, including the ones on income tax, could give an idea of what this budget might bring.
What are the five steps of Budget formation?
The Union Budget, prepared annually by the Department of Economic Affairs in the Ministry of Finance, serves as a financial plan for the country, outlining estimated earnings and expenditures for the upcoming fiscal year. The budget 2024 process began six months before the budget is scheduled to be presented, with Budget Circulars sent to relevant ministries and departments.
Urban renewal push in Budget: SHGs may be covered under PM-SVANidhi Micro credit facility for street vendor SHGs
The BJP government aims to give urban renewal a boost in the Interim Budget, focusing on schemes that directly impact the well-being and ease of living for the common man. They plan to extend the Prime Minister Street Vendors AtmaNirbhar Nidhi (PM-SVANidhi) scheme to include self-help groups, providing them with microcredit in three tranches. Additionally, the government is expected to announce the National Urban Development Mission, which will introduce technological innovations in municipal services and infrastructure across 4,500 urban local bodies. The interim budget may also include the CITIIS 2.0 program for circular economy projects and climate action support.
Modi government's past Budget promises: The hits and misses
From "Achhe din" in 2014 to "New India 2022," the Modi administration is renowned for creating catchphrases for its several programmes. Let's look at a few of the Modi government's well-known budgeting pronouncements and their current performance.
Budget expectations to address the advancements in the built environment sector in India
With a projected population of 1.668 billion by 2050, coupled with ambitious climate goals, the built environment sector stands at a pivotal crossroads.
ETMarkets Smart Talk: We may see some surprises in Budget; turn underweight in autos: Vikram Kasat
Vikram Kasat says: "The Interim Budget 2024 is expected to highlight sectors like textile, circular economy, and domestic tourism. Risk-to-reward is favorable for investors entering the market gradually. The auto sector turned underweight after being overweight during the rally, but incremental gains are expected. Structural stories are emerging in real estate, automotive, and domestic travel. SME IPOs are gaining attention due to valuations and high subscription bid."
Budget 2024: A perspective on direct tax to ponder
The government may make procedural amendments in the interim budget to bring clarity to the International Financial Services Centre (IFSC) and extend deadlines for tax concessions. Other expectations include changes to personal taxation, enhancements to standard deductions, and clarifications on assessment timelines and the use of Document Identification Numbers (DIN) on orders.
Budget: Industry seeks tax incentives, more funds to boost manufacturing, green tech, exports
"We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030," Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines.
India needs 1,000 scrapping centres, 400 fitness test points: Nitin Gadkari
Union Road Transport and Highways Minister Nitin Gadkari announced on Monday that the nation requires a network of 1,000 vehicle scrapping centers and 400 automated fitness test centers. Unveiling the 'DigiELV' initiative, Gadkari revealed that the road ministry has already given its approval for 85 vehicle scrapping facilities nationwide.
Govt to take serious note of any report about dumping of lithium-ion battery waste: Nitin Gadkari
India's Road Transport and Highways Minister, Nitin Gadkari, has pledged to address the environmental impact of lithium-ion battery waste dumping. The issue was raised by Congress member Ranjeet Ranjan during a Rajya Sabha question. Ranjan claimed that a research report highlighted the negative effects on workers involved in lithium-ion battery manufacturing and the environmental impact of dumping the batteries after their life cycle.
The EU’s CBAM aims to stop carbon leakage — if EU industry moves out and emits, what is the point of the Green Deal: Virginijus Sinkevicius
"EU region countries have an ambition, a concrete plan and legislation towards this. The second pillar is our nature restoration and biodiversity legislation and strategy for 2030 — we see biodiversity loss and climate change as reinforcing each other. Even if we all reach zero emissions but ecosystems continue to degrade, with oceans unable to absorb carbon and forests not able to deliver their functionality," Sinkevicius said.
FM announces Gowardhan Scheme to promote circular economy with investment of Rs 10,000 crore
Finance Minister Nirmala Sitharaman on Wednesday introduced the Gowardhan Scheme for promoting circular economy with total investment of Rs 10,000 crore. While presenting the Union Budget for 2023–2024, she stated that the government would assist 1 crore farmers in converting to natural farming.
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