RECEIPT BUDGET
India's economy: A-Z all you need to know before announcement of Union Budget
Union Budget will be announced by Finance Minister Nirmala Sitharaman in late July. The report covers key economic indicators, including India's GDP growth at 7.8% in Q4FY24, concerns over consumption expenditure, stable retail inflation at 4.7%, fiscal deficit reduction to 5.6% in FY24, and a narrowing trade deficit | Budget 2024
Pakistan's National Assembly passes Rs 18,877 billion budget for fiscal 2024-25
The budget, facing opposition, sets growth targets and tax revenue goals while addressing concerns about IMF loans and tax exemptions to aid economic growth.
Budget 2024 HRA Exemption: Will Bengaluru, Hyderabad, other non-metro cities be included in 50% HRA tax exemption list?
Budget 2024 HRA Exemption: Many employers offer an HRA as part of their employees' compensation. If an employee receiving HRA is paying rent for their accommodation, they can claim a tax exemption on the HRA. Currently, a rented house in Delhi, Mumbai, Kolkata, and Chennai qualifies for a 50% exemption from HRA, while those located in other places come under the 40% bracket.
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.
Union Budget 2024: Here is how revenue, fiscal and primary deficit impacts the Indian economy
Union Budget 2024: A revenue deficit arises when a government's day-to-day expenses surpass its total revenue receipts, necessitating borrowing, divestments, or adjustments in taxes to bridge the shortfall. In contrast, a fiscal deficit occurs when government expenditure exceeds its total receipts, influencing aspects like economic growth, price stability, production costs, and inflation.
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.
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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.
Budget 2024 an opportunity for Nirmala Sitharaman to play some good shots
The Lok Sabha election results in India surprised many as they diverged from the exit polls. The focus now shifts to the Union Budget 2024, setting the economic tone for the future. All eyes will now be on Finance Minister Nirmala Sitharaman.
New govt may cut FY25 fiscal deficit target amid robust growth and windfall RBI dividend
In the interim budget in February, the government had set the FY25 fiscal deficit goal at 5.1% of GDP and revised the FY24 target to 5.8%. However, the actual fiscal gap for FY24 was contained at 5.6%. With exit polls projecting Prime Minister Narendra Modi to retain power with a strong majority, policy continuity is expected, and the government may aim to further improve the fiscal deficit target for the upcoming fiscal year starting April 1, 2025.
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.
Fiscal deficit may fall below revised estimate of 5.8%
The Indian government's fiscal deficit could be slightly lower than revised estimates of 5.8% of GDP due to robust revenues and lower subsidy outgo. Tax revenues could exceed the revised estimate by ₹27,000 crore. The fiscal deficit in absolute terms is pegged at ₹ 17.3 lakh crore. Direct tax receipts are expected to exceed revised estimates by about Rs 14,000 crore, while indirect revenues, including customs and excise duty, by Rs 13,000 crore.
India may raise FY25 CPSE dividend target in full budget
The finance ministry is set to increase CPSE dividend estimates by Rs 5,000 crore to approximately Rs 53,000 crore for the current fiscal year in the full budget to be presented in July. This adjustment reflects improved dividend forecasts based on updated financial data. Dividend receipts for 2023-24 totaled Rs 63,000 crore.
Q1 tax revenue likely to exceed budgeted growth
The government expects tax revenues to exceed budgeted growth in Q1 but will stick to interim budget revenue estimates, considering global headwinds. Gross revenue collections projected at ₹38.30 lakh crore for FY 2024-25, with factors like compliance, corporate earnings, elections, and enhanced focus on recovery contributing to growth.
RBI's investment in IIFC UK subsidiary fell by a fifth in FY23-24
The central bank is mandated to invest small portion of its foreign exchange reserves- $ 5 billion in the company following demands from the government in the past to fund infrastructure.
India's FY24 fiscal gap may be slightly better than revised estimates: Official
The central government's fiscal deficit for FY24 is expected to be slightly better than revised estimates, thanks to higher-than-anticipated revenue receipts. Despite slower nominal growth, deficit-to-GDP ratio is estimated to improve. Direct tax revenue exceeded expectations, and expenditure remains on track. The government is prepared to manage potential capital inflows from JPMorgan's inclusion of Indian government bonds in its index.
Centre gets a dividend boost as receipts from state-run undertakings surpass revised estimates by 26% to Rs 63,000 cr
In March, the government received hefty dividend tranches from ONGC (Rs 2,964 crore), Coal India (Rs 2,043 crore), Power Grid Corporation of India (Rs 2,149 crore), NMDC (Rs 1,024 crore), HAL (Rs 1,054 crore) and GAIL (Rs 1,863 crore).
Punjab Budget 2024 Highlights: FM Cheema presents Rs 2 lakh crore budget for FY25
Punjab Budget 2024 Highlights: Punjab Finance Minister Harpal Cheema unveiled a state budget exceeding Rs 2 lakh crore for FY25 in the Assembly. Notably, Rs 13,784 crore is allocated for agriculture, with a focus on health and education. Under AAP leadership, over 40,000 jobs were created. Additionally, the budget estimates over Rs 1 lakh crore revenue collection. Proposals include One River One Fish Farming Program and online integration of mandis with rice mills to regulate grain procurement.
India's April-January fiscal deficit at Rs 11.03 lakh crore, narrows on-year to 63.6% of revised FY24 aim
India's fiscal deficit for April to January, or the first 10 months of this fiscal year, was at 11.03 lakh crore rupees, equivalent to 63.6% of annual estimates, narrowing from the previous year's 67.8%. The government aims to narrow the fiscal gap to 5.8% of GDP in this financial year from 6.4% a year earlier.
Sitharaman proposes Rs 1.18 lakh cr interim Budget for J&K for 2024-25
Finance Minister Nirmala Sitharaman has proposed an interim budget of Rs 1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir. The budget aims to reduce the fiscal deficit and achieve a 7.5% growth in the GSDP. Sitharaman praised the government's efforts to decentralise governance, promote inclusive development, and increase revenue generation.
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?
Capital receipts of Rs 30,000 cr in FY24 RE includes disinvestment, asset monetisation: DIPAM Secy
The government has budgeted Rs 30,000 crore from other capital receipts in the Revised Estimates for the current fiscal. For 2024-25, the amount is budgeted at Rs 50,000 crore. DIPAM Secretary Tuhin Kanta Pandey said the Budget does not have any specific target for disinvestment for the next fiscal and the Rs 50,000 crore receipts is estimated to come from disinvestment and asset monetisation, as well as capital receipts, which are not classified elsewhere.
Gujarat Budget 2024 Highlights: Girls to get Rs 10,000 per year till class 10th, Rs 25,000 till 12th; 8 cities get Municipal Corporation status
Gujarat Budget 2024 Highlights: Following the unveiling of Union Budget 2024 by Finance Minister Nirmala Sitharaman, the focus has shifted to state budgets. Gujarat takes the lead in announcing its budget for the fiscal year 2024-25 today. Gujarat Finance Minister Kanu Desai is set to present the budget, emphasizing that it will embody the state government's vision for the upcoming year and provide a roadmap for the next 25 years, as stated just before the budget presentation.
Budget Basics: All the budget jargon simplified just for you
The budget is a financial statement that uses specialised language that the general public might not fully understand. It may be challenging to grasp or assess the budget if you are unfamiliar with these words. The essential terms for comprehending the budget are listed below.
Budget Basics: Your complete guide to what each budget document holds
The Union budget consists of more than a dozen documents. The budget is structured to present it with clarity and in a detailed manner, following the law. Mandatory documents include the Annual Financial Statement, Finance Bill, and Fiscal Policy Statements. The budget begins with the finance minister's speech summarizing the economy, projections, policy focus, and allocations.
Budget 2024: What to watch out for in India’s pre-Lok Sabha election Budget
Interim Budget: Prime Minister Narendra Modi will likely use the last budget of the present government before the elections to woo voters with new spending measures, while avoiding a fiscal deficit increase. The economy’s rapid expansion has led to a tax windfall for the government, helping it meet its goals of curbing the deficit. Finance Minister Nirmala Sitharaman, who will deliver her sixth budget speech on Feb. 1, has scope to keep infrastructure spending going and take targeted steps to support Modi’s priority sectors for the elections: farmers, women, the poor, and young people.
Budget Basics: What do the big numbers in the Budget actually mean?
Budget 2024: The most important numbers in the Union budget are the budget size, capital expenditure, fiscal deficit, nominal GDP growth, and net tax collection. The budget size represents the government's fiscal support and spending. Capital expenditure drives investment-led growth.
Budget 2024: How to read the budget
Union Budget 2024: For better understanding, a user-friendly guide for deciphering the Budget document is made readily accessible. Following the finance minister's budget speech in Lok Sabha, these crucial documents are promptly published on the official website, ensuring swift and widespread dissemination of vital financial information.
2 types of gold that can be bought from BSE, MCX with physical delivery option
An individual can buy gold from Bombay Stock Exchange (BSE) and Multi Commodity Exchange (MCX) through their demat account provided Electronic Gold Receipt (EGR) and Commodity segments, respectively, is activated on the individual's demat account. There is also an option to take physical delivery of gold from both BSE and MCX.
Finmin expects steady G-sec yields in FY24; hike in borrowing target unlikely
The idea is to ensure private players are not crowded out of the bond market at a time when private capital expenditure is expected to gradually gain traction and credit growth has picked up pace, said the official.
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