INTERIM BUDGET ROADMAP
Union Budget 2024: Sectors for investors - What can the Budget hold for different sectors
India Budget Announcements: Finance Minister Nirmala Sitharaman is set to present the full Union budget, with investors eager for insights on infrastructure, manufacturing, fiscal discipline, job creation, and social spending. Expectations include a focus on sustainable and climate-resilient infrastructure, increasing local content requirements for manufacturing, and bridging credit gaps for MSMEs. Defense sector reforms are also anticipated.
Budget 2024: How Nirmala Sitharaman can lay the infra bricks for a Viksit Bharat by 2047
Budget 2024: Finance Minister Nirmala Sitharaman's focus on infrastructure development and the 'Viskit Bharat by 2047' plan highlights the government's commitment to boosting investments, job creation, and reducing logistics costs. Challenges in road construction pace and the need for private sector participation are key areas of concern for improving infrastructure.
Budget 2024 may propel a key element of the Modi govt's Panchamrit goals
The Indian government has been prioritizing sustainability through clean energy for over half a decade to ensure economic growth. The Green Hydrogen economy, an integral part of the development factors, is a key focus in the country's energy sector. The Modi 3.0 budget could introduce new financial incentives, subsidies, and infrastructure investments to bolster this nascent industry.
Budget 2024: What's coming up? A Sitharaman budget or a Naidu-Nitish budget?
Budget Expectations: Finance Minister Nirmala Sitharaman will present her seventh full budget on July 23. Known for fiscal prudence, aggressive capital expenditure, and boosting manufacturing, her previous budgets lacked populist proposals. With changed political dynamics post-elections, allies TDP and JD(U) are speculated to seek favorable treatment in the budget. Sitharaman is expected to balance fiscal discipline with growth amidst demands.
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.
Budget 2024: Watch her words - Important clues to Sitharaman's upcoming budget
Budget Expectations: After the BJP formed a government with allies due to a lack of majority, Nirmala Sitharaman's reappointment as finance minister signaled policy continuity. Despite the interim budget not allowing major announcements, her prudence over populism stood out. With fiscal pressures and demands for cash transfers, her upcoming budget will be closely watched.
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Union Budget 2024: Goldman Sachs forecasts 'golden' fiscal future for India
India's FY25 deficit target is set at 5.1% of GDP, aiming for 4.5% by FY26. Presented by Nirmala Sitharaman on July 23, it stresses job creation, MSME credit, vocational programs, food processing, public debt sustainability, land reform, rural economy, green finance, and political capital. Focus areas include services exports and the domestic food supply chain, according to Goldman Sachs.
Budget 2024: ONDC and more on e-commerce's cart for Nirmala Sitharaman
Budget 2024: Finance Minister Nirmala Sitharaman will present Budget 2024 on July 23, outlining Modi's third term roadmap. The e-commerce sector, including Vijay Shekhar Sharma and MSMEs, seeks ONDC support. TEAM scheme, Rs 277 crore, aids MSMEs' digitalization. Shireesh Joshi targets 10 million ONDC transactions. Parliament session: July 22-August 12. Interim budget was presented in February; Lok Sabha polls held April-June.
Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23
Budget 2024 date: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget, which will outline the roadmap for Modi 3.0, in the Lok Sabha on July 23. The Parliamentary session dedicated to the Budget will commence on July 22 and extend until August 22.
Budget 2024: What is known as fiscal glide path?
Budget 2024: India struggles to meet the 4.5% GDP fiscal deficit goal for 2025-26, despite reducing from 9.5% due to COVID-19. The 5.9% target for 2023/24, down from 6.4% in 2022/23, faces scrutiny amid calls for fiscal flexibility. The fiscal glide path, proposed by the NK Singh committee, aims to decrease deficits gradually. Economic slowdown challenges hitting tax revenues may lead to missing targets, with an escape clause allowing a 0.5% GDP deviation. Government financing methods for deficits might trigger inflationary pressures, impacting spending and investments.
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.
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.
Subsidy allocation likely to stay at Interim Budget mark of Rs 4.1 lakh crore
The Centre aims to reduce the fiscal deficit to 5.1% of GDP, with allocations for food and fertiliser subsidies slightly lower than previous estimates. Plans include reducing dependency on imports for better fertiliser subsidy management.
Budget likely to stick to fiscal road map: UBS
UBS predicts that the new government will follow a medium fiscal consolidation path but with a populist tilt in its first budget after the elections. The RBI's higher-than-expected dividend transfer to the government provides fiscal leeway for populist spending, especially to support lower-income groups. The government is expected to target a fiscal deficit of 5.1% of GDP in FY25, aiming to reduce it further to below 4.5% of GDP by FY26. While tougher reforms may be challenging, supply-side reforms like manufacturing, labour laws, and skill development are likely to continue.
Centre drawing up road map to invest in women entrepreneurs
Banks and insurance firms will launch campaigns and leverage digital banking units (DBUs) to enhance outreach, officials said, adding that a roadmap with quarterly targets is also being discussed.
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.
Sitharaman to rating agencies after Budget: India is not just adhering to, but bettering its fiscal roadmap
Union finance minister Nirmala Sitharaman announced on Thursday that the government is not only aligning with the previously set fiscal consolidation roadmap, but also improving upon it. Sitharaman made this statement during a press conference following the presentation of the interim Budget, in response to a question about the message for rating agencies regarding India.
Interim Budget 2024: Check full text of FM Nirmala Sitharaman's speech here
The Finance Minister presented the Interim Budget 2024 in a speech that lasted for 48 minutes. The budget focuses on four main areas: women, poor, farmers, and youth. The government aims to empower the poor and has implemented various programs to achieve this. Direct Benefit Transfer has resulted in significant savings for the government, which has been used for the welfare of the poor. The budget also highlights initiatives for women empowerment, youth development, agriculture, infrastructure, and taxation reforms.
Budget 2024: India's cabinet approves Interim Budget 2024
India Budget: India's cabinet has approved Interim Budget for fiscal 2025. Finance Minister Nirmala Sitharaman will present the interim budget in parliament at 11:00 am today. Prime Minister Narendra Modi vows to present a full budget after returning to power, with focus areas including women empowerment, youth, farmers, and the economically weaker section. The interim budget tests the Bharatiya Janata Party's ability to balance handouts and fiscal consolidation while competing with China and driving investments.
Budget 2024: Amid big defence dilemma, here's how India will need to balance its priorities
Interim Budget: India's defence strategy faces a Budget conundrum as it grapples with potency versus pragmatism. The 'mother of all procurements,' the MMRCA program by the Indian Air Force, stumbled, securing only 36 Rafale jets out of the intended 126, plunging squadron strength to a mere 32. Similar shortcomings echo in the Indian Army and Navy, raising concerns about defence allocations in the next fiscal year amid impending elections and the need for welfare measures. India's ambitions to become a global leader in defence technology face a funding hurdle, as noted by a parliamentary committee's recent report.
Budget 2024: Pharma industry seeks incentives for R&D, conducive policies
In the upcoming union budget 2024, the Indian pharmaceutical industry is seeking fiscal incentives to promote research and development (R&D) as it is expected to reach a market size of USD 400-450 billion by 2047. The Indian Pharmaceutical Alliance Secretary General, Sudarshan Jain, emphasized the need for continuous investments in research due to high risk and low success rates. The interim Budget 2024-25 should provide benefits in terms of direct and indirect taxes and facilitate business ease for pharma companies.
Budget Picks: Top 4 stocks to buy ahead of Interim Budget 2024 that could give 10-20% return
The Budget Day is highly anticipated as it forecasts the economic outlook of the Nation and its impact on the equity markets. The benchmark and Nifty indices have seen significant gains, indicating a bullish market. The Angel One Research team recommends buying stocks like MTNL, Petronet LNG, Shree Digvijay Cement Co, and Shriram Finance in the short to medium term.
Budget 2024: Need for Infra Push 2.0 to make India's roads & railways one of world's best
Interim Budget: India has made significant strides in improving its infrastructure capacity, with a major push from government spending. The upcoming budget may not have big announcements, but the focus on infrastructure is expected to continue. The government has spent 23 lakh crore rupees on infrastructure in the past three years, with roads, highways, and railways receiving significant investment. In addition, the government has incentivized states and increased the availability of power, accelerated highway and rural road construction, and improved logistics.
Budget 2024: Where, how to watch finance minister Sitharaman's live speech on Feb 1
The Interim Budget, often referred to as a 'vote on account,' assumes particular significance as it sets the stage for economic policies in the run-up to the elections, where Prime Minister Narendra Modi seeks re-election for a historic third consecutive term. The final full budget will be announced by the next government.
Budget 2024: Need for crypto-friendly budget, level-playing field, says WazirX's Rajagopal Menon
Rajagopal Menon says Indian crypto industry seeks level playing field, stable banking connections, and optimized taxes in upcoming budget. Regulatory measures expected to address TDS reduction, loss tax rule change, and taxation alignment with equity shares. Support for innovation and blockchain development crucial, G20 roadmap to be followed, optimized crypto taxes to boost investor confidence and encourage investment in Indian crypto ecosystem are needed. Closer collaboration between industry and government also needed for balanced regulation and mutual benefits.
Budget 2024: Government may set higher dividend target at Rs 70,000 crore from RBI, banks and FIs
The current financial year estimate has already exceeded the Budget target as RBI paid a dividend of Rs 87,416 crore. With public sector banks and financial institutions posting good quarterly numbers during the current financial year, the dividend payout by them in the coming year would be higher compared to this year. So, it would be feasible to expect about Rs 70,000 crore as dividend payout from RBI and financial institutions in FY'25, sources said.
Budget 2024: India’s resolve on fiscal prudence may counter tricky temptations
Interim Budget: The upcoming interim budget is crucial in terms of fiscal prudence and setting the path for achieving the fiscal consolidation target. Credit rating agencies are closely watching for any signs of fiscal slippage. The budget will provide a glimpse into the government's fiscal strategy and its seriousness about debt sustainability. Recent fiscal measures, such as LPG price cuts and increased support for lower-income groups, have been aimed at appeasing citizens. The government's focus on fiscal prudence and productive capex is expected to continue in the budget.
View: Can Budget 2024 measures create a green energy roadmap for a sustainable economy?
Interim Budget: The upcoming Budget 2024 is seen as crucial for achieving ambitious targets, fostering a clean energy ecosystem, and positioning India as a significant player in the global clean energy landscape. The focus includes green hydrogen, solar and wind energy, battery storage, carbon markets, and measures to boost private sector involvement and investments.
Budget 2024: Has BJP's state election wins dimmed mega sop chances in interim budget?
Union Budget: Prime Minister Narendra Modi's BJP secured significant victories in key states, indicating possibilities of keeping the government away from lavish welfare schemes in the upcoming interim budget. Modi's vision for India's future may lead to a budget prioritizing fiscal prudence over excessive spending.
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