AS THE MONTH of February draws closer, there is always anticipation about what the Union Budget will bring. Despite this being an Interim Budget, the anticipation is higher this year as voters are hoping that a few goodies will be announced ahead of the General Elections. It is widely expected that Union Finance Minister Nirmala Sitharaman will maintain fiscal discipline, but she is also expected to announce a few dispensations.
A full Budget will be presented later in the year after the new government is sworn in. The Interim Budget is expected to be a Vote on Account for the first few months of FY25 to ensure smooth expenditure and provide a preliminary outlook of the new fiscal. This will include an outline of the expected growth in revenue as well as expenditure for FY24 (Revised Estimate) and FY25 (Budget Estimate), which would also serve as a report card on the economy and the expectation going forward. “The Interim Budget, also called a Vote on Account, enables undertaking of expenditures at the beginning of the next fiscal until the main Budget is presented. It is not used for the initiation of any major policy changes,” D.K. Srivastava, Chief Policy Advisor at consultancy EY India, wrote in a recent report. “One key variable of interest would be the achieved improvement in indicators of fiscal imbalance, such as fiscal and revenue deficits and government debt relative to GDP after their sharp departures in the Covid-19-affected year of FY21.”
FISCAL DISCIPLINE
Esta historia es de la edición February 04, 2024 de Business Today India.
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A Man of Multitudes
IN A NEW BOOK, CAPTAINS OF INDIA INC. AND OTHERS PAY TRIBUTE TO RAHUL BAJAJ, THE TITAN OF INDIAN INDUSTRY
HOUSE OF THE RISING SUN
WITH THE GOVERNMENT OFFERING SUBSIDIES UNDER THE PM SURYA GHAR MUFT BIJLI YOJANA, MANY HOUSEHOLDS HAVE TAKEN A SHINE TO SOLAR ROOFTOP PANELS. BUT HOW MUCH DO THEY COST?
FROM GREY TO GREEN
WITH THE CLIMATE CRISIS BECOMING MORE ACUTE, GREEN HYDROGEN COULD BE AN IMPORTANT SOLUTION
ECO CHAMBER
DATA CENTRES ARE A VERY VITAL PART OF THE DIGITAL TRANSFORMATION THAT IS UNDERWAY, BUT THERE'S A PROBLEM: THEY CONSUME TOO MUCH ENERGY. AS DEMAND FOR SUCH CENTRES INCREASES IN INDIA, IT HAS NO OPTION BUT TO EMBRACE GREEN SOLUTIONS
THE GREEN BARRIER
THE EU'S CARBON BORDER ADJUSTMENT MECHANISM COULD MAKE INDIAN EXPORTS UNCOMPETITIVE, UNLESS EFFORTS TO REDUCE CARBON EMISSIONS ARE ACCELERATED
HUMANISING SUSTAINABILITY
THERE IS A NEED TO MOVE BEYOND INDIVIDUAL WELL-BEING AND FOSTER A SENSE OF INTERCONNECTEDNESS AND SOLIDARITY
DE-RISKING THE BOOKS
INDIAN BANKS ARE BEGINNING TO TAKE BABY STEPS TOWARDS ADDRESSING CLIMATE-RELATED FINANCIAL RISKS IN THEIR BOOKS. BUT THEY MUST PUT THEIR FOOT ON THE PEDAL AND ENHANCE PREPAREDNESS
PAYING FOR CHANGE
WITH EXTREME WEATHER INCREASINGLY PUTTING THE COUNTRY AND ITS ECONOMY AT RISK, INDIA SHOULD EXPLORE CLIMATE FINANCE PATHWAYS TO FUND ITS NET-ZERO JOURNEY TOWARDS A GREENER FUTURE
BEYOND THE BLIP
ESG HAS BEEN UNDER SCRUTINY GLOBALLY AMID ALLEGATIONS OF GREENWASHING AND RECORD REDEMPTIONS FROM ESG FUNDS. BUT THAT MAY JUST BE ONE SIDE OF THE STORY, SINCE SUSTAINABLE PRACTICES HAVE BECOME CORE COMPONENTS OF COMPANIES' STRATEGIES
PROFITING FROM ESG
INITIALLY DRIVEN BY REGULATORY COMPLIANCE REQUIREMENTS, BUSINESSES ARE INCREASINGLY VIEWING ESG AS A TOOL TO ENHANCE PROFITABILITY. BUT THERE IS STILL A LONG WAY TO GO
