BUDGETARY PRUDENCE
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.
India's fiscal deficit improves to 5.6% of GDP in FY24, lower than target of 5.8%
India's FY24 fiscal deficit hit Rs 16.54 lakh crore, 95.3% of target. Central government's FY24 fiscal deficit stood at at 5.6% GDP, below 5.8% estimate. Tax receipts surpassed at Rs 23.27 trillion, 100.1% target. Expenditure at Rs 44.43 trillion, 99% target. Capital expenditure at Rs 9.49 lakh crore. Fiscal discipline aims for 5.1% deficit in FY25.
Portfolio strategy: 4 financial lessons from bridge collapse
Investing is like navigating unpredictable waters. Lessons from navigating investments, personal experiences stress the importance of financial prudence, risk management, and foresight in ensuring a secure financial future.
ETMarkets Fund Manager Talk: Expect combination of time correction, reshuffle to play out in mid & smallcaps: Tailwind Financial
Market regulators express concern over valuations from a strong bull run, predicting time correction and shift to reasonable valuations. SEBI's action on international ETFs aims to manage currency stability, reflecting a cautious market approach.Rishabh Goel says with the US Fed maintaining three rate cut expectations, expects FII flows to help further drive largecap performance.
FICCI Advisory Council calls Assam Budget 'comprehensive blueprint' for economic revitalization, inclusive growth
The budget's strategic allocations and visionary initiatives are poised to catalyse sustainable development, economic revitalization, and social empowerment across the state, said FICCI Northeast Advisory Council.
Spiritual Budget
That spiritual budgetary exercise can be carried out by each of us, not annually but every minute, every hour, every day. Just remember God regularly, ponder. Is what I am doing or saying correct, true? Are my actions or words going to hurt anybody? Am I doing enough for the less privileged? Am I being grateful for all His blessings? Am I, in short, being a virtuous person?
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Income tax slab changes: FM Sitharaman vows to listen to demands of all income groups in full budget
In an exclusive interview with ET Now, Sitharaman addressed concerns about the absence of announcements for India's middle class in the recent budget and said, "Full Budget mein sabki pukar sunenge" (In the full budget, everyone's concerns will be addressed).
Interim budget: Steering towards sustainable and equitable growth
The interim budget serves as a crucial milestone in this journey, aligning with broader goals of sustainability, inclusive development, infrastructure enhancement and fiscal responsibility. It hinges on harnessing the power of women, youth, farmers and innovation for nation's development. The finance minister reminded us that the aspiration of growth must go hand in hand with having adequate financial resources and hence, opening India to more investment from the world is more important than ever for India's growth story to continue.
By Invite: Inclusive Budget lays strong foundation for viksit Bharat - Kalyan Krishnamurthy
Reflects commitment to sustainable growth, in harmony with people and environment
Good news for NBFCs: Fiscal deficit target of 5.1 per cent for FY25 positive for liquidity
NBFCs are well placed to harness the India Stack in ensuring last-mile credit delivery to the smallest business or remotest retail customer. For this, NBFCs will have to expand their capital base, and diversify across other sources of credit like debt markets and public deposits. Public deposits can be a cheap source of capital for upper layered large NBFCs, the benefits of which can be passed on to borrowers.
Interim Budget: Here's what economists and financial experts are saying about Modi 2.0's last budget
Finance Minister Nirmala Sitharaman today presented the Interim Budget which has been hailed by economists and financial experts for focus on infrastructure, fiscal consolidation, rural spending, and measures to support growth and fiscal prudence.
India Budget: New Delhi to borrow Rs 14.13 lakh crore in FY25, bond yields plunge
Budget Announcements: The Indian government plans to borrow 14.13 trillion rupees ($170.36 billion) in the next fiscal year, lower than economists' estimates, according to Finance Minister Nirmala Sitharaman. Net borrowings are expected to remain largely unchanged from the current fiscal year, at 11.75 trillion rupees. The funds will be used to finance a fiscal deficit of 5.1% of GDP, with the government also conducting switch auctions worth 1 trillion rupees. Additionally, 4.66 trillion rupees will be raised through India's small savings fund to cover the budget gap.
Budget 2024: A pressing issue that may not wait till full budget
The fiscal deficit target of 5.3% will be set by the government in FY25, keeping in view the fiscal consolidation path till FY26, as it normalises capital spending and refrains from any major announcements in the interim budget before the general elections, Icra and Barclays economists have said. ICRA expects the fiscal deficit target for FY25 to be set at 5.3% of GDP, midway through the expected print of 6.0% for FY2024 and the medium-term target of sub-4.5% by FY26.
Budget: From sustainability to skilling, sectors pin hopes on government boost
The Budget stands at the crossroads of diverse industry expectations, with each sector voicing its unique needs and aspirations.
Centre's fiscal deficit up to July widens to almost 34% of FY24 target
The deficit, in absolute terms, almost hit Rs 6.06 lakh crore between April and July, against Rs 3.41 lakh crore a year earlier, as the government seems to have frontloaded not just capital but also revenue expenditure. The front-loading of tax devolution to states, too, played its part in pushing up the Centre’s deficit so far.
Committee on review of pension system for govt employees consulting stakeholders: FinMin
The Finance Secretary-headed committee to review the pension system for government employees is in the process of consulting stakeholders and is yet to finalise its report, the ministry said on Thursday. The ministry in April set up a committee under Finance Secretary T V Somanathan to review the pension scheme for government employees and suggest any changes, if needed, in the light of the existing framework and structure of the National Pension System (NPS).
Finance Ministry sets up panel to review pension system for government employees
The Indian Finance Ministry has created a committee led by Finance Secretary T V Somanathan to review the pension system for government staff. The committee will undertake an analysis of existing framework and structure of the National Pension System (NPS) and suggest if there are any necessary changes. The team will take fiscal implications, impact on budget and protect citizens to maintain fiscal prudence. Members of the committee will include the secretary for the Department of Personnel and Training, the special secretary for the Department of Expenditure and the chairman of the Pension Fund Regulatory and Development Authority.
Finance Secretary-headed panel to look at NPS framework
The committee will have secretary, personnel, special secretary, personnel, and chairman of Pension Fund Regulatory and Development Authority (PFRDA) as its members, according to an office memorandum issued by the finance ministry.
21st & accounting: Gujarat CM Narendra Modi has only continued his budgetary focus on fiscal prudence as PM
Budget 2023 is significant as it comes before Modi seeks a fresh mandate - his third as prime minister. It will be his sixth election seeking a mandate as an elected head of GoI. These budgets are important to understand if there is a political cycle to fiscal policies that have emerged during his tenure.
Union Budget 2023: Balancing fiscal prudence and growth imperatives
The focus of the govt in the budget should be on supporting the segments of the economy that would need help in coming back on their feet in FY2024. More sectors for the PLI scheme will give manufacturing the much-needed boost and increase in the disposable money in the hands of common households will support consumption and support the bottom of the income pyramid, given the expected stress in the economy.
Supplementary demand for grants unlikely in the upcoming monsoon session
In 2021-22, the government had presented a ₹1.87 lakh crore first supplementary demand for grants on July 20, proposing a net cash outlay of ₹23,675 crore. In the fiscal, the government exceeded the budgeted fiscal deficit target by about ₹80,000 crore. It had raised the target to 6.9% of GDP from 6.8% pegged in the budget, but actual came in at 6.7% of GDP on back of improved revenues.
Latest stimulus shows limited budgetary firepower, will have little impact on growth: Moody's
“Notwithstanding the fiscal prudence of the measures, the small scale of the stimulus highlights limited budgetary firepower to support the economy during a very sharp contraction, a credit negative,” it said in a note on Thursday.
Telangana passes Finance Bill: Chandrasekhar Rao stresses on fiscal prudence
Telangana received ncome of Rs 25,947.97 crore so far this fiscal with state's own tax revenue touching Rs 15,101 crore, Chief Minister announced.
Budgetary provisions will decide next shape of the market: Anish Damania
The flows have remained strong for this entire period. It is just that on some days, it will be high or in some weeks, it will be high.
Vote on Account 2014: P Chidambaram to shun populism, bat for fiscal prudence
In what may be seen as shunning populism, finance minister P Chidambaram is in fact expected to penalize several poor performers.
Letter to FM: Tax illiteracy is no solution for budget deficits
First, ease the pressure on officials to meet budget targets. Second, send your officials on a crash training course in economics and audit.
Union Budget 2011: Budgetary allocation for defence up 12% to Rs 1.64 lakh cr
Keeping a balance between fiscal prudence and the India's strategic imperatives, Union Finance Minister Pranab Mukherjee hiked the country's defence budget by almost 12 percent to Rs 1.64 lakh crores for fiscal 2011-12.
Gross budgetary support may rise
Caught in a dilemma of adhering to fiscal prudence and ensuring funds for promised pro-aam aadmi schemes, UPA government is expected to go for a moderate hike in total gross budgetary support (GBS).
Gross budgetary support may rise
Sources said finance ministry has promised the Planning Commission of at least 15% increases in planned expenditure putting the figure at Rs 3.73 lakh crore for next fiscal which will be lower compared to the current year.
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