INTERIM BUDGET SESSION 2024
Budget 2024: Will govt retain focus on LPG subsidy to keep the cooker burning in rural India?
Union Budget 2024: The Modi-led government is likely to allocate Rs 9,000 crore for the LPG subsidy to beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) in the upcoming Budget, according to a report by ET Now citing sources. This move continues the government's focus on providing subsidies under the Ujjwala Yojana scheme, primarily benefiting women.
Best Inalsa Chimneys for a Hygienic Cooking Session 2024
Inalsa, one of the leading small home appliance brands, has been truly acing the Indian chimney market. In this article, we shall be discussing Inalsa’s best chimneys along with their salient features, so that it is easier for you to pick the right one for your kitchen. Make sure to check out the products through the links given below.
Next parliament session likely to start from July 22
The next session, which will include the budget presentation, is expected to begin on July 22. After the special session ended, Parliamentary Affairs Minister Kiren Rijiju criticized the Congress-led INDIA bloc for disrupting the PM's speeches in both Houses of Parliament. He stated that despite being given ample time to raise their issues during the debate on the motion of thanks to the President's address, the Opposition chose to interrupt the PM's reply.
Can Modi government stick to interim numbers in upcoming Budget 2024? Here's what Sitharaman had to say
UNION BUDGET: Before the 2024 Lok Sabha elections, Finance Minister Nirmala Sitharaman had indicated that the BJP-led NDA government would adhere to the fiscal measures outlined in the Interim Budget, emphasizing fiscal prudence and continued capital expenditure. Re-elected for a third term, the Modi government’s budgetary focus includes a significant boost to infrastructure and renewable energy initiatives.
Budget 2024: EV makers seek stability in incentives, call for long-term subsidy assurance before FAME III roll out
Budget 2024: The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was originally launched in 2015 to encourage the adoption of electric and hybrid vehicles. Under it, a subsidy was provided to EV makers who used it to lower the prices of their products. The second edition, FAME-II, was introduced in 2019 and went on till March 2024 when it was scrapped. There has since been a steep slowdown in EV sales, according to a report by the Federation of Automobile Dealers Associations.
Budget 2024 for Farmers: Agriculture industry wants FM to hike PM Kisan installment amount to Rs 8,000 in budget
PM Kisan scheme in Budget 224: Under the PM Kisan scheme, eligible farmers' families across the country earn Rs 6,000 yearly, which is paid in three payments every four months via Direct Benefit Transfer (DBT). Agricultural experts asked the FM to raise the PM-KISAN installment amount in the Union Budget 2024.
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Is a big boost to power financiers likely in Budget? Deven Choksey answers
Reliance Jio's strategic timing aligns with 5G advancements and tariff adjustments, poised to boost revenue and shareholder value. The company's emphasis on EBITDA margin growth and potential IPO plans suggest a positive outlook for unlocking shareholder value. Deven Choksey says that 12 months forward, with a Rs 1,45,000-1,50,000 crore revenue book, 55% EBITDA margin cannot be ruled out .
Budget 2024: Will Sitharaman stick to fiscal prudence this time around? All you need to know about India’s fiscal deficit
Fiscal Deficit of India 2023-24 | Finance Minister Nirmala Sitharaman's 2024 Budget, scheduled for July, aims to navigate India's fiscal deficit amidst varied economic priorities and coalition dynamics. With fiscal discipline crucial, the Modi 3.0 government seeks to balance capital expenditure initiatives with rural, healthcare, and educational needs while aiming to achieve a fiscal deficit target of 5.2% and eventually 4.5% by 2025-26 | Union Budget 2024
Outlay for export tax remission plans unlikely to change in Budget
The government is unlikely to increase the allocation for key tax remission schemes for exporters in the 2024-25 budget, despite demands for more support. In the interim budget, ₹16,575 crore was earmarked for the RoDTEP scheme and ₹9,246 crore for the RoSCTL scheme. Exporters argue for adequate allocation to maintain zero-rated exports, a government policy, as merchandise exports rose 5.1% year-on-year in the first two months of this fiscal.
Maharashtra budget 2024 key highlights: Free cylinders & farmer friendly measures
Maharashtra budget 2024: Maharashtra Deputy Chief Minister Ajit Pawar presented the state budget during the ongoing monsoon session from June 27 to July 12. Key highlights include the provision of three free cylinders annually to all households under the CM Anna Chhatra Yojana, a Rs 5,000 per hectare bonus for cotton and soybean farmers, and a Rs 5 per litre bonus to milk-producing farmers after July 1, 2024.
Sharpen focus on education and health this Budget, experts urge FM
Although the pandemic is behind us, the focus on the health sector shouldn't be diluted, he added. There were also suggestions to tightly monitor the implementation of all such social sector schemes, he added. Facilities at schools and hospitals need to be further improved and vacancies filled up on time, some of them said in the meeting. In the interim Budget for FY25 in February, the government had pegged the outlay for the Ministry of Health and Family Welfare at ₹90,659 crore, up marginally from the FY24 budget estimate of ₹89,155 crore. This outlay also includes spending on health research.
Budget 2024 will see many historic economic policies, will be a futuristic one: President Murmu at Parliament
In her address to Parliament, President Droupadi Murmu announced that the upcoming Union Budget will introduce historic economic policies and reforms at an accelerated pace. Highlighting India's contribution of 15% to the global economy, she emphasized that this budget will reflect the government's long-term policies and futuristic vision. Finance Minister Nirmala Sitharaman is set to present this Union Budget in July 2024.
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.
Oppn alliance boycotts CM's tea party on eve of Maharashtra monsoon session
As part of the Maha Vikas Aghadi alliance, we boycotted CM Eknath Shinde's tea party before the state legislature monsoon session, announcing it in a press conference. The ruling Mahayuti alliance will present the state budget in Mumbai from June 27 to July 12. The customary tea party was held ahead of every legislature session.
Budget Preview: Govt could use part of RBI dividend to reduce fiscal deficit, says Motilal Oswal
A transfer of Rs 2.11 lakh crore by the RBI implies excess receipts of about Rs 1.5 lakh crore in FY25, the MOFSL note said. MOFSL sees the new government largely retaining its tax and non-debt capital receipt (including disinvestment) projections as presented during the interim Budget in February.
Budget 2024: What will happen to Income Tax in this Budget, will it be cut?
Finance Minister Nirmala Sitharaman is gearing up to present the Union Budget 2024 in late July, her seventh budgetary address. Following the interim budget in February, expectations are high regarding potential income tax rate cuts to stimulate consumption and address economic priorities. Industry bodies like FICCI and CII have advocated for tax relief, while the Ministry of Finance explores measures targeting higher-spending individuals, potentially introducing a new tax bracket.
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.
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 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 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.
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.
Meeting at Rajnath Singh's residence today to discuss Lok Sabha Speaker post
A meeting at Defence Minister Rajnath Singh's residence will discuss better floor coordination among NDA partners for the Lok Sabha Speaker post ahead of the Parliament Session.
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.
India likely to present Budget on July 22
Budget 2024: Sources informed ET that the Union Budget 2024 is expected to be presented on July 22. The primary policy priorities will include addressing challenges in the agriculture sector, generating employment, maintaining the momentum of capital expenditure, and boosting revenue growth to stay on the fiscal consolidation path. Additionally, the government aims to simplify GST and reduce tax compliance burdens.
Budget 2024: Why India has two Budgets this year; Difference between Interim Budget and Full Budget
The exact date of Budget 2024 is unknown at this time. The question of whether there should be two budget sessions or just one is being discussed. The administration will make a decision in the coming days, although it may decide to divide the Budget session into two sessions: a motion of thanks and a budget presentation in the second half.
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.
Two options for budget: Split session or single parliament sitting? When will govt present the Budget?
There’s a discussion on whether to have a single budget session or to split it into two. The government will take a decision in the next few days, though it may be inclined towards a session divided by a recess — with the motion of thanks in the first part, and the budget presented in the latter.
Modi 3.0: Growth sequel starring jobs, investment
The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.
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