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Budget and Markets
SBI wants tax parity on bank FDs with mutual funds & equity markets in Budget
Will Budget 2024 pivot to populism? Here’s what Goldman Sachs analysts predict
Modi’s Budget to send India’s soaring stocks higher: Survey
Smart Talk: Allocation towards Atmnanirbhar Bharat, infra and digitisation likely in final Budget 2024: Sandeep Raina
What to expect from real estate and infra sector in upcoming Budget? Keki Mistry answers
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Budget Basics
Why the human angle is so important in Budgets
What does the govt spend on? The politics and economy of expenditure
How Union budget is different from your household budget
What goes into the making of the Union budget? Here's a step-by-step breakdown
What is the budget gap? How does the government fill it?
What do the big numbers in the Budget actually mean?
Where does government get all the money it needs?
What exactly are the govt's priorities in a budget?
All the budget jargon simplified just for you
How to get past the long Budget speeches and get to the point
Confused about the calculations? This is how the budget math works
Your complete guide to what each budget document holds
Sectors In Focus
Auto
Commercial vehicle sales surpass expectations, indicating strong economic activity
Maruti Suzuki surpasses 2 million car deliveries via Indian Railways
Skoda gears up to introduce new Kodiaq, Octavia in India
Two-wheeler sales volume growth to continue this fiscal: CareEdge Ratings
Tata Motors group global sales rise 2% in June quarter
Tech
Top 5 tech and startup stories of the day
Use Ola Maps: Bhavish Aggarwal urges developers to exit Google maps
OfBusiness FY24 operating revenue up 26% on year to Rs 19,296 crore
Roll-up brands firm Goat Brand Labs raises $21 million in a mix of debt and equity
CG Power appoints Amar Kaul as managing director & CEO
Renewables
Godrej Electricals commissions 12.5 MWp rooftop solar project in MP
Mercedes seeks to tap first-time luxury buyers in India with entry-level EVs
Mercedes ready to invest $500 mn in Indian EV biz but it has a condition
Xiaomi to showcase its first electric car, the SU7 EV, in India tomorrow: Report
Changes likely in India's new EV policy, may benefit legacy car companies
Banking
RBI to hand-deliver a message of zero tolerance on lapses
RBI cancels registration certificates of 2 NBFCs for irregular lending practices
EXIM Bank enters into $2.5 million Line of Credit agreement with Guyana
Union Budget 2024: Good time to push disvestment of public banks, says SBI report
Chandra Shekhar Ghosh likely to be Bandhan Group's executive head
Healthcare
Budget 2024: Is a Rs 10 lakh insurance the vitamin India's healthcare system needs?
Apollo Hospitals to acquire Rs 103.2 crore stake in subsidiary Apollo Health
Fortis designates Prem Kumar Nair as Vice-Chairman
Nutrition advocacy NAPi calls for amending regulations for ads of unhealthy foods
Need to sensitise foreign nationals on organ transplant guidelines in India: Health ministry
MSME
Tighter regulations are for the greater good of fintech ecosystem, not obstacles, say industry leaders
India’s SME IPOs: From a quiet start to bull run
MSMEs & green finance: How fintechs can help small businesses adopt sustainability
Shipping delays and disruptions erode profitability of MSMEs: Ketan Kulkarni, Allcargo Group
ESG consultancies and services on the rise as companies rush to get sustainability tag
Details on Budget 2024
Union Budget 2024
Budget 2024 is now the focal point following the Lok Sabha 2024 elections, the world’s largest democratic exercise, where Narendra Modi secured a record-equalling third term as Prime Minister with the support of coalition parties. Nirmala Sitharaman returned as the Finance Minister for her second term and will present the Union Budget that will likely lay out the roadmap for the new government, or Modi 3.0 as popularly called.
Budget 2024 Date
Finance Minister Nirmala Sitharaman is set to present the Union Budget outlining the Modi 3.0 agenda on July 23 in the Lok Sabha. The Parliamentary session for the Budget will start on July 22 and run until August 22.
What to expect from Budget 2024
As BJP did not secure a majority on its own, there is speculation that Sitharaman may introduce additional welfare measures to support the lower and middle classes in the world’s most populous country. These measures could be politically significant, as the Lok Sabha election results indicate weaker sentiment among these groups.
This may however have an impact on the country’s fiscal deficit, which the government has been trying to control and bring down to 4.5% by fiscal 2026.
The new coalition government is expected to follow its medium-term plan for reducing the budget deficit, but it might include more populist measures in its first budget after the elections, global investment bank UBS said in a report.
India has also ramped up its capex to shore up growth in an economy that is fighting a major issue of unemployment while it’s also trying to arrest the galloping inflation rate.
The upcoming Budget will thus have key tasks of addressing these issues, juggling between controlling fiscal deficit and pumping enough money in the economy that has set eyes to become world’s third largest by 2030.
While the Narendra Modi government has returned for the third term with a weaker mandate and provided some space for coalition parties in the ministries, New Delhi hasn’t tinkered with the bosses of some key ministries such as finance and defence, indicating policy continuity.
Supply-side reforms related to manufacturing, labor laws, and skill development are likely to continue and some economists expect private capital expenditure recovery to gain momentum.
Key issues for Modi 3.0 to fix in Budget
While lack of jobs is one of the most critical issues that the government needs to address, there is also a general sense of income inequality. The quality of jobs in India has also been a major concern.
Inflation also continues to be a pressing concern. Managing household expenses is becoming increasingly challenging for many Indian families at a time when household savings have taken a hit.
The main policy priorities for the Budget will include addressing the stress in the agriculture sector, creating jobs, maintaining capital expenditure momentum, and boosting revenue growth to stay on the path of fiscal consolidation.
What happened in the interim Budget?
India had presented the interim Budget in February and the government had abstained from splashing populist measures ahead of the Lok Sabha elections.
While all eyes focused on the tax relief measures that the Interim Budget may announce before elections, Sitharaman didn't make any change to direct tax rates - be it for individuals or corporates.
Aiming to reach a fiscal deficit level below 4.5 per cent of the GDP by 2025-26, Sitharaman fixed the deficit for 2024-25 at 5.1%, below the revised 5.8% budgeted for 2023-24.
Sitharaman also proposed to raise the capital expenditure target by 11.1% to record Rs. 11.11 lakh crore for the next fiscal year, as the government hoped to further shore up demand and consumption. Capital expenditure means spending on infrastructure such as roads and railways.
Budget 2024 is now the focal point following the Lok Sabha 2024 elections, the world’s largest democratic exercise, where Narendra Modi secured a record-equalling third term as Prime Minister with the support of coalition parties. Nirmala Sitharaman returned as the Finance Minister for her second term and will present the Union Budget that will likely lay out the roadmap for the new government, or Modi 3.0 as popularly called.
Budget 2024 Date
Finance Minister Nirmala Sitharaman is set to present the Union Budget outlining the Modi 3.0 agenda on July 23 in the Lok Sabha. The Parliamentary session for the Budget will start on July 22 and run until August 22.
What to expect from Budget 2024
As BJP did not secure a majority on its own, there is speculation that Sitharaman may introduce additional welfare measures to support the lower and middle classes in the world’s most populous country. These measures could be politically significant, as the Lok Sabha election results indicate weaker sentiment among these groups.
This may however have an impact on the country’s fiscal deficit, which the government has been trying to control and bring down to 4.5% by fiscal 2026.
The new coalition government is expected to follow its medium-term plan for reducing the budget deficit, but it might include more populist measures in its first budget after the elections, global investment bank UBS said in a report.
India has also ramped up its capex to shore up growth in an economy that is fighting a major issue of unemployment while it’s also trying to arrest the galloping inflation rate.
The upcoming Budget will thus have key tasks of addressing these issues, juggling between controlling fiscal deficit and pumping enough money in the economy that has set eyes to become world’s third largest by 2030.
While the Narendra Modi government has returned for the third term with a weaker mandate and provided some space for coalition parties in the ministries, New Delhi hasn’t tinkered with the bosses of some key ministries such as finance and defence, indicating policy continuity.
Supply-side reforms related to manufacturing, labor laws, and skill development are likely to continue and some economists expect private capital expenditure recovery to gain momentum.
Key issues for Modi 3.0 to fix in Budget
While lack of jobs is one of the most critical issues that the government needs to address, there is also a general sense of income inequality. The quality of jobs in India has also been a major concern.
Inflation also continues to be a pressing concern. Managing household expenses is becoming increasingly challenging for many Indian families at a time when household savings have taken a hit.
The main policy priorities for the Budget will include addressing the stress in the agriculture sector, creating jobs, maintaining capital expenditure momentum, and boosting revenue growth to stay on the path of fiscal consolidation.
What happened in the interim Budget?
India had presented the interim Budget in February and the government had abstained from splashing populist measures ahead of the Lok Sabha elections.
While all eyes focused on the tax relief measures that the Interim Budget may announce before elections, Sitharaman didn't make any change to direct tax rates - be it for individuals or corporates.
Aiming to reach a fiscal deficit level below 4.5 per cent of the GDP by 2025-26, Sitharaman fixed the deficit for 2024-25 at 5.1%, below the revised 5.8% budgeted for 2023-24.
Sitharaman also proposed to raise the capital expenditure target by 11.1% to record Rs. 11.11 lakh crore for the next fiscal year, as the government hoped to further shore up demand and consumption. Capital expenditure means spending on infrastructure such as roads and railways.