Page 21 - Budget 2023

Rupee gains 12 paise to 81.76 against US dollar ahead of Union Budget

The rupee opened on a positive note and gained 12 paise to 81.76 against the US dollar in early trade on Wednesday ahead of the Union Budget presentation. At the interbank foreign exchange, the domestic unit opened at 81.76 against the dollar, registering a rise of 12 paise over its previous close. On Tuesday, the rupee depreciated by 36 paise to close at a three-week low of 81.88 against the US dollar after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of the current account deficit. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 102.08. Brent crude futures, the global oil benchmark, declined 0.48 per cent to USD 84.49 per barrel. The focus now will be on the government's fiscal consolidation path when it presents the Union Budget FY24. Investors will also eye the outcome from the Fed meeting later in the evening,

Congress to hold MPs' meeting ahead of Budget presentation in Parliament

Congress has convened a meeting of its Lok Sabha MPs ahead of the budget presentation in Parliament to devise strategy

FM Nirmala Sitharaman presents Union Budget 2023

Budget for world's fastest growing economy: Key numbers to be watched

Budget 2023-24 would be in paperless form, as done in the last two years, and would be available on the 'Union Budget Mobile App' for hassle-free access by Members of Parliament (MPs) and the public

Budget 2023 live streaming: When and where to watch FM Sitharaman's speech

Budget 2023 India: Finance Minister Nirmala Sitharaman will present the annual financial statement in the Parliament of India at 11 AM today

Budget 2023: FM Nirmala Sitharaman takes tablet in red pouch to Parliament

Budget 2023: With the tablet carefully kept inside a red cover with a golden-coloured national emblem on, FM Nirmala Sitharaman went to the Parliament after meeting President Droupadi Murmu

FM Sitharaman meets President Murmu ahead of Union Budget presentation

Prime Minister Narendra Modi will chair a cabinet meeting at 10 am before the Budget is tabled in Parliament

FM Sitharaman arrives at North Block ahead of Budget 2023 presentation

In view of the upcoming budget, top business leaders of the country have also put forward their suggestions for Nirmala Sitharaman

Union Budget 2023 to incorporate every section's expectations: MoS Finance

Ahead of the presentation of Union Budget 2023-24 in the Parliament, Minister of State for Finance Pankaj Chaudhary said that the budget will incorporate the expectations of every section of society

Top headlines: Budget to push spending, Adani's FPO sails through, and more

Business Standard brings you the top headlines at this hour

TMS Ep359: Economic Survey, Adani-Hindenburg case, markets, Budget terms

What does Economic Survey tell us about growth? What can regulators do in Adani-Hindenburg case? What do markets expect from Budget 2023? Five terms to understand the Budget better. All answers here

Measures of inflation: Understanding CPI and WPI, and how they differ

The key difference is that one works at the production level, the other at the level of the household; but there are a few other differences as well

Understanding budget receipts and the role they play in govt finances

Capital receipts are non-recurring and either create a liability for the govt or deplete its assets; revenue receipts are recurring and do not entail any risk for the govt

FM to present Union Budget 2023-24 today; last full budget of Modi govt 2.0

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament today, the last full Budget of the Modi government in its second term

We shouldn't be mechanical about fiscal deficit targets: CEA Nageswaran

In an exclusive interaction with Arup Roychoudhury and Asit Ranjan Mishra, V A Nageswaran said that budget deficit targets should be solely decided by debt levels are sustainable

Indian firms raise Rs 5.06 trn via equity, debt during Apr-Nov 2022: Survey

Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs 5.06 lakh crore garnered in FY23 (till November 2022), funds totalling Rs 3.92 lakh crore were mopped up from the debt market and Rs 1.14 crore came in through the equity route, as per the data compiled in the survey. In comparison, firms had raised Rs 5.53 lakh crore, including Rs 3.71 lakh crore through debt and Rs 1.81 lakh crore through equity, which comprised Rs 89,166 crore from initial public offerings (IPOs), during April-November 2021. According to the survey, overall, India's capital market had a good year in FY23 though global macroeconomic and financial market developments exercised some influence. "Global macroeconomic uncertain

Steady decline in school dropout rate, increase in enrolment: Eco Survey

There has been a steady decline in the school dropout rate and increase in enrolment both in school and higher education, the Economic Survey for 2022-23 tabled in Parliament on Tuesday showed. The gender parity has also improved in this financial year, the survey, tabled by Finance Minister Nirmala Sitharaman, stated. "The Gross Enrolment Ratios (GER) in the primary-enrolment in Class 1 to 5 as a percentage of the population in age six to 10 years for girls as well as boys has improved during the financial year (FY)," . This improvement has "reversed the declining trends between FY-17 and FY-19", it stated, adding that "the GER in upper-primary (enrolment in class 6 to 8 as a per cent of the population in age 11-13 years), which was stagnant between FY-17 and FY-19, improved in FY-22". In corresponding age groups in primary and upper-primary levels, the GER for girls is better than that of boys, the Economic Survey for 2022-23 stated. "In FY-22, school enrolment stood at 26.5 cr

Economic Survey 2022-23: Reforms, capital expenditure push to aid growth

Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI

Govt procurement portal GeM catching up with Amazon, Flipkart: Eco Survey

Healthy growth in the procurement of goods and services by central and state governments through GeM portal is helping the platform to catch up with global e-commerce giants like Amazon and Flipkart, the Economic Survey said on Tuesday. The Government e-Market (GeM) portal was launched on August 9, 2016 by the commerce ministry for online purchases of goods and services by all the central government ministries and departments and other agencies including public sector units. Procurement of goods and services from the portal has crossed Rs 1 lakh crore till November 29 this fiscal on account of an increase in buying activities. "The GeM has witnessed tremendous growth in gross merchandise value and is catching up with e-commerce giants like Amazon and Flipkart," the survey said, adding, "GeM attained an annual procurement of Rs 1 lakh crore within fiscal year 2022, representing a 160 per cent growth compared to last FY (fiscal year)". GeM CEO P K Singh had earlier stated that going

India needs carefully crafted multi-dimensional mineral policy: Eco Survey

The country needs a carefully crafted multi-dimensional mineral policy to address the issues posed by uneven distribution of rare earth elements, the Economic Survey on Tuesday said. Cobalt, copper, lithium, nickel, and rare earth elements (REEs) are critical for producing electric vehicles and batteries and harnessing solar power and wind energy. "While the demand for critical minerals is set to increase because of the global preference and emphasis towards renewable energy, the global supply chain of the critical minerals is highly concentrated and unevenly distributed. The skewed distribution of the resource poses a supply risk in the face of its enhanced demand. "A carefully crafted multi-dimensional mineral policy would reduce our dependence and address the problems for the future," the Economic Survey 2022-23 said. The country has resources of nickel, cobalt, molybdenum and heavy REEs, but further exploration would be required to evaluate the quantities of their reserves. Th