Page 5 - Budget 2023 News
Union Budget 2023-24: Funding for IIMs brought down to Rs 300 crore
According to the Budget Estimates (BE) for 2022-23, the IIMs were allocated an amount of Rs 653.92 crores
 "Union Budget 2023-24: Funding for IIMs brought down to Rs 300 crore")
A growth-oriented Budget, says NSE MD & CEO Ashishkumar Chauhan
"The Budget would support growth and the Indian consumption story, and keep us in good stead, given headwinds in China and developed markets and until the rest of the world eases"
 "A growth-oriented Budget, says NSE MD & CEO Ashishkumar Chauhan")
Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST
Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future
 "Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST")
Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation
The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26
 "Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation")
Old income tax regime vs new income tax regime: Which one is better?
New income tax regime: The taxpayers can avail of several deductions under the old income tax regime using section 80C etc. But under the new tax regime, no such deductions are allowed
 "Old income tax regime vs new income tax regime: Which one is better?")
Union Budget underscores role of digital, tech in development: Nasscom
According to Nasscom, the creation of 5G labs will further help in opening newer avenues and opportunities, scaling up new business models and employment prospects
 "Union Budget underscores role of digital, tech in development: Nasscom")
Tea sector unhappy over total negligence in Union Budget 2023-24
According to the Darjeeling Tea Association (DTA)'s principal advisor S. Mukherjee, the tea sector was probably the only industrial segment which was not spared even a word as regards to any industry
 "Tea sector unhappy over total negligence in Union Budget 2023-24")
Budget 2023: Understanding 20% TCS on foreign remittance transactions
Budget 2023: Earlier, a 5 per cent tax collected at source was levied on foreign remittances
 "Budget 2023: Understanding 20% TCS on foreign remittance transactions")
Defence budget falls below 2% of GDP, emphasis on border infrastructure
The defence allocations for 2023-24 represent an enhancement of Rs 68,371 crore
 "Defence budget falls below 2% of GDP, emphasis on border infrastructure")
Cut in customs duty, support to MSMEs will boost shipments: Exporters
Tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday
 "Cut in customs duty, support to MSMEs will boost shipments: Exporters")
What are Unity Malls, and what did FM Sitharaman say about them in Budget?
The idea behind setting up these malls appears to be to give a boost to local products and economies
 "What are Unity Malls, and what did FM Sitharaman say about them in Budget?")
New tax regime to benefit maximum number of taxpayers: CBDT Chairman
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate
 "New tax regime to benefit maximum number of taxpayers: CBDT Chairman")
Rebates to slabs: Budget's key changes in Income Tax regime explained
This move indicates that the old regime will slowly be wound up
 "Rebates to slabs: Budget's key changes in Income Tax regime explained")
A balanced Budget against the backdrop of global uncertainties
Tax reliefs are expected to leave more money in the consumers' hands. While the aim is to boost consumption, the extent of the impact remains to be seen
Budget 2023 promises to train students, teachers for the job market
FM announced establishment of 30 Skill India International Centres across different states, launch of a unified Skill India Digital platform for enabling demand driven formal skilling
 "Budget 2023 promises to train students, teachers for the job market")
RC Bhargava to Sanjiv Puri: BS jury welcomes focus on digital infra, growth
Private sector investments will be further facilitated by continued emphasis on infrastructure development and a higher provision for capital expenditure, said R C Bhargava, Chairman, Maruti Suzuki
 "RC Bhargava to Sanjiv Puri: BS jury welcomes focus on digital infra, growth")
Budget aims to fix 'nuts and bolts' of state machinery
The government clearly wants everyone to file income tax returns so that the people with unaccounted wealth do not use the low income individual as a shield for their unaccounted wealth
Push for new income-tax regime: Pain points & what's on offer in Budget
India's taxation rates had been higher than others like the US or Brazil, though lower than other peers
We are in the midst of capex 'mahotsav'
The finance minister has once again done a stellar job of supporting growth whilst maintaining fiscal pragmatism
 "We are in the midst of capex 'mahotsav'")
Blueprint for New India: Here are 15 takeaways from the Budget 2023-24
The Budget is a blueprint and strong foundation for a New India; takes a long-term view of the economy
