In this issue

February 02, 2023

FIRM ON PRUDENCE, HIGH ON FEEL-G00

Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget for 202324, which is expected to serve as the last full Budget of Prime Minister Narendra Modi's second term in office.

2 mins

Budget has identified key priority areas’

The Finance Minister has given yet another remarkable Budget balancing growth with fiscal prudence. A 33 per cent year-on-year increase in the capital investment outlay, pegged at 10 trillion, will lead to massive infrastructure creation across the nation.

2 mins

New Tax Regime Is Now Default. Is It Beneficial?

Union Finance Minister Nirmala Sitharaman and the income tax regime in her Budget speech.

3 mins

ONE FOR MAHILA SAMMAN, TWO FOR SENIOR CITIZENS

Finance minister Nirmala Sitharaman announced major changes in the small savings schemes bucket with a doubling of the maximum investment limit under the Senior Citizen Savings Scheme (SCSS) and the Post Office Monthly Income Plan (POMIS).

2 mins

CAPEX PUSH TO SAFEGUARD GROWTH FROM HEADWINDS

Union Finance Minister Nirmala U Sitharaman on Wednesday raised the Centre’s capital expenditure capex) target by 37.4 per cent for financial year 2023-24 FY24) to 10 trillion over the Revised Estimates RE) for FY23 to continue the public investment led growth push amid growing global headwinds.

2 mins

Asset sale target pegged at 51,000 cr for FY24.

Current year projection slashed to 50,000 cr from 65,000 cr

2 mins

FM STICKS TO FISCAL ROAD MAP TARGETS DEFICIT OF 5.9% IN FY24

Union Finance Minister Nirmala Sitharaman on Wednesday said in her Budget speech the Central government was expected to achieve its fiscal deficit target of 6.4 per cent this fiscal year FY23), and is targeting a fiscal deficit of 5.9 per cent for FY24.

3 mins

SKILLING PUSH FOR JOB-READY YOUTH

STEPPING UP: PMKVY 4.0, Unified Skill India Platform and stipend for apprentices

2 mins

On the agenda: Quality and reach of health care

The annual Budget is a bell-wether indicating what the government of the day prioritises. The seven priorities laid out by the Finance Minister include reaching the last mile, and this can be a cornerstone of public health and equity.

2 mins

RAILWAYS GETS RECORD 2.6-TRN CAPEX PUSH

Indian Railways is set to see a record capital expenditure capex) of 22.6 trillion in fiscal year 2023-24 FY24). This announcement in the Budget on February 1 would give a push to the massive infrastructure expansion lined up and the government’s share would contribute around 22.4 trillion to this the highest ever.

2 mins

CESS, SURCHARGE HELP CENTRE KEEP MAJOR CHUNK OF TAXES

The Union government is projected to share a only a little over 30 per cent of Central taxes with states during fiscal year 2023-24 FY24), against the 15th Finance Commission’s recommendation of 41 per cent.

3 mins

Firm on prudence, high on feel-good

The Budget also hopes for a compression in some of its subsidy outgo, particularly fertilisers. Fertiliser subsidy came in at a whopping 22.25 trillion in the Revised Estimates, but was due to be reduced to 1.75 trillion in the coming year on the back of the promotion of alternative fertilisers.

2 mins

AMID OPS PUSH, BID TO KEEP GOVT STAFF HAPPY

Unimpressed Oppn says Budget has nothing for poor

3 mins

GOVT REALISTIC ON TAX TARGET

The government has kept the revenue target realistic” for financial year 2023-24 FY24) in sync with nominal gross domestic product GDP) growth of 10.5 per cent.

2 mins

Net winnings from online games to attract 30% TDS

The government has proposed a 30 per cent tax on \"net winnings\" from online games. It also removed the existing minimum threshold limit of €10,000.

2 mins

A people-centric proposition

The break from giving sops to industry and throwing money at the poor is welcome

4 mins

Achange ofheart on taxes and tariffs

The Budget evoked among the experts a common refrain no harm done”. This reaction was induced by the trepidation that political populism would trump fiscal rectitude.

3 mins

'Reward the rich' politics

Is this, in the last financial year of the second Modi government, an election Budget? Please allow me to respond to this with a counter-question. Do you remember the last year a government cut taxes for the richest, at the top rate, in any Budget, election eve or not? You would need to go back some decades.

3 mins

A credible effort

The Budget makes all the right noises and avoids the temptation to be populist

4 mins

Fiscally prudent, but electorally savvy

The number in Finance Minister Tosa Sitharaman’s fifth Budget, which has not received as wide an attention as it deserved, pertains to the revenue deficit she has projected for 2023-24.

4 mins

Defence budget falls below 2% of GDP, focus on border infrastructure

For the first time in decades, India’s defence allocations have dropped below two per cent of the nominal gross domestic product GDP). Of the Union Budget’s total outlay of 45,03,097 crore for financial year 2023-24, the Ministry of Defence has been allocated 593,373 crore.

2 mins

GROUNDWORK FOR 2047: MODI

1st Budget of Amrit Kaal’ is historic’ meant for the aspirational, PM says

2 mins

Premium policy tax call sinks insurance stocks

Shares of major life insurance companies tumbled on Wednesday following the finance ministers' announcement to tax income from insurance policies having premium above *5 lakh in a year, for policies issued on or after April 1, 2023.

2 mins

ADANI STOCK ROUT SPOILS PARTY

Nifty falls over 2% from day's high to end in the red...

2 mins

INDIA INC TO GAIN FROM CAPEX PUSH

CEOs expect big govt orders as pvt capex picks up

2 mins

BUDGET GIVES A BIG PUSH FOR Al, CONTINUES FOCUS ON DIGITISATION

The Budget envisions a technology-driven and knowledge-based economy with strong finances. Some of the focus areas to achieve this are artificial intelligence AI), adopting open source software, and opportunities from the 5G internet.

2 mins

Electric vehicles plug in to Budget charger

Finance minister Nirmala Sitharaman, in her Budget speech on Wednesday, focused on green energy and electric vehicles. Sitharaman extended Customs duty exemption for the manufacture of lithium-ion batteries and introduced more sops to boost vehicle scrappage.

2 mins

BIG BOOST FOR AGRI DIGITAL INFRA, canner ORGANIC FARMING

Rural housing gets huge fund outlay for completion of projects ahead of 2024 elections

2 mins

Big cut in food, fertiliser subsidy bill in FY24

Possible triggers? Abolition of extra free foodgrain distributed as part of PMGKAY, cooling of international fertiliser prices

1 min

ENERGY TRANSITION GETS FUND LEG-UP

Making green growth the key component of Amrit Kaal is the Bharatiya Janata Party-ruled central government's vision for the coming 25 years.

1 min

Full circle: Focus on circular economy

At a time when climate change is coursing through the economy with deleterious consequences, the Union Budget 2023-24 has put the spotlight on sustainable development and a circular economy.

1 min

10-YR BOND YIELD EASES TO 6-WEEK LOW

Sovereign bonds strengthened sharply despite the government announcing its highest-ever gross market borrowing programme, as the Centre adhered to fiscal consolidation in the Union Budget, refraining from carrying out extra sales of dated securities in the current year.

1 min

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