RECEIPT BUDGET
Law amendments approved by GST Council to be incorporated in the Finance Bill: CBIC Chief CBIC Chairman Sanjay Kumar Agarwal announced that decisions from the recent GST Council meeting, such as an amnesty scheme for initial GST rollout years and a sunset date for profiteering complaints, will be included in the upcoming Finance Bill to ...
03 Jul, 2024, 05.34 PM ISTIndia'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%, fi...
01 Jul, 2024, 12.49 PM ISTPakistan'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.
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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, Mumb...
26 Jun, 2024, 11.33 AM ISTBudget 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 a...
25 Jun, 2024, 08.23 PM ISTUnion 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 ...
21 Jun, 2024, 12.53 PM ISTBudget 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...
21 Jun, 2024, 12.51 PM ISTBudget 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...
21 Jun, 2024, 08.00 AM ISTBudget 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.
17 Jun, 2024, 01.42 PM ISTNew 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 Naren...
03 Jun, 2024, 06.00 AM ISTIndia'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, 9...
31 May, 2024, 06.38 PM ISTFiscal 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 term...
30 May, 2024, 01.17 AM ISTIndia 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 ...
21 May, 2024, 12.27 PM ISTQ1 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 complian...
16 May, 2024, 12.19 AM ISTRBI'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.
13 May, 2024, 08.35 PM ISTIndia'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 re...
10 May, 2024, 12.08 AM ISTCentre 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).
31 Mar, 2024, 11.02 AM ISTSitharaman 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 pr...
05 Feb, 2024, 06.44 PM ISTCapital 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 spe...
02 Feb, 2024, 08.06 PM ISTGujarat 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 F...
02 Feb, 2024, 12.57 PM IST