Page 26 - Budget 2025 News

PAN as single business ID set to get legal backing in Budget 2023-24

The provision will also ensure the mapping of PAN of an entity with multiple existing identifications. Accordingly, it will be notified under various central and state legislations

Rates are out of tune for higher-income levels, need revisions

India is somewhere in the middle when taxation for the upper-income bracket is considered, but leaving tax rates untouched can translate into a heavier tax burden on the population

Budget 2023: A look back at some major announcements in previous Budget

Here is a brief status check of some initiatives that the Finance Minister touched upon in the Union Budget 2022

PM Modi to hold pre-Budget meeting with economists, sectoral experts

Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023

Jewellery industry seeks abolition of duty on lab-grown diamonds in Budget

Gem and jewellery exporters urged the government to announce support measures like the abolition of import duty on raw material for lab-grown diamonds and jewellery repair policy to promote the sector

Higher nominal GDP likely to help govt meet fiscal deficit target

The leeway to the government was given by the first Advance Estimates, which pegged GDP at current prices at Rs 273 trillion for 2022-23 as against Rs 258 trillion assumed by the FY23 Budget

Budget 2023-24: Govt may go easy on capital expenditure growth in FY24

Outlay for next year likely to be around Rs 9.5 trillion

Budget 2023: PMAY-G may get big push on time for 2024 General Elections

In FY-23, Centre first allocated Rs 20,000 cr for PMAY-G and then topped it up with infusion of Rs 28,000 cr, in the coming 2023 Budget a similar push is expected, sources said

Expenditure rationalisation may be underlying theme of Budget 2023

The budget for the financial year 2023-24 (FY24) could be about controlling non-essential expenditure

Budget 2023: FDI in startups needs tax exemption, says Wadhwani Foundation

With an estimated 250 unicorns by 2025 from a little over 100 now and $180 billion of total funding by CY23, India's startup ecosystem is well-positioned to leverage the availability of young talent

Second part of budget session likely to be held in new parliament building

The second part of the session usually commences in the second week of January and continues till early May

Commerce Ministry seeks cut in gold import duty in Budget to push exports

The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said

TDS guidelines for gaming companies may require greater disclosure

The move is aimed at improving reporting and transparency in these sectors

Ujjwala scheme: Rs 200 subsidy per cylinder to be extended one more year

The main motive of the extension is to improve the penetration in north-east India, a government official said

Modi to chair second national conference of chief secretaries next month

Ahead of the Union Budget 2023-24, Prime Minister Narendra Modi will chair the 'second national conference of chief secretaries' in the national capital next month, a senior government official said.

Lessons in budgeting: Changing Budget tack amid changing realities

From an adventurous start in 2019 to modest revenue projections last year, there has been a marked change in Ms Sitharaman's approach. T N Ninan looks at what can be expected in Budget 2023

Low interest rate loans, tax incentives for Agri Startups in next Budget

The idea behind supporting agritech startups in India is to make the agriculture sector more durable along with supporting small farmers and encouraging best practices through raising awareness

Budget this year to follow spirit of earlier ones, says FM Sitharaman

FM Nirmala Sithataman indicated that her forthcoming Budget will continue to push growth on the back of public spending as she said it will "follow the spirit" of earlier Budgets

Enhance budget for PLI scheme and widen its coverage: Assocham

The government's PLI scheme, introduced in 2021, had an outlay of around Rs 2 trillion for 13 sectors

Agri budget rises to Rs 6.22 trn under Modi govt, says Prahlad Patel

Union Minister Prahlad Singh Patel said the Centre has taken several steps for the growth of the farm sector and to boost farmers' income