Page 34 - Budget 2023

Budget 2023: Digital infra, cybersecurity spending critical for tech sector

Apart from the direct expenditures, the government is also expected to extend the production-linked incentives for electronics manufacturing schemes to encourage domestic manufacturing

Budget 2023, last full budget of Modi govt, to focus on rural, infra: UBS

The forthcoming budget -- the last full budget of the present government ahead of the general elections to be held in mid-2024 -- will be more rural- and infra-focused, said a foreign brokerage

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

Modi govt's final full budget to focus on subsidy cuts, 'Make in India'

With India running one of the highest public debt to GDP ratios among emerging markets globally, firm adherence to the fiscal consolidation would seem the most appropriate path

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

Best of BS Opinion: Conservative budgeting, financialising economy & more

Here is the best of Business Standard's opinion pieces for today

This Budget's focus should be on expenditure, not taxation: Pronab Sen

Revival in capex in the non-corporate sector, which is our MSME (micro, small, and medium enterprises) sector, is beginning now

What is in a number?

The system of releasing numerous GDP growth estimates over three years calls for an overhaul. Budget making will also benefit as a result

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

FY24 disinvestment target to be around Rs 60K-cr, big ticket deals unlikely

The government's decision to not list any new entity for privatisation may be because of the prevailing market conditions

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

Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also be attended by several Union ministers. Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023 Hit by weakening demand, the Indian economy is expected to grow at a slower rate of 7 per cent in the current fiscal ending March 2023, setting the stage for the country losing the fastest-growing major economy tag. The 7 per cent expansion projected in the first official estimate released by the statistics ministry compares with 8.7 per cent gross domestic product (GDP) growth in 2021-22. The projections are much lower than government's earlier forecast of 8-8.5 per cent growth but above the Reserve Bank's projection of 6.8

Budget to be fiscally prudent without losing growth focus: DBS economist

DBS Bank expects the government to target a fiscal deficit of 5.8-5.9% of gross domestic product (GDP) in 2023/24 as against the 6.4% outlined for this financial year ending on March 31

Govt considering textile duty structure rejig in Union Budget: Report

The industry says a slowdown in exports of cotton yarn due to weakening global demand has tied their hands

Private jets to jewellery: Customs duty to be hiked on 35 items in Budget

The government has also issued quality control orders to curb the imports of these non-essential items

Strong earnings growth can be market propeller: IDFC Mutual Fund CEO

"With most indirect tax decisions shifted to the Goods and Services Tax Council, recent Budgets have become less eventful from a sectoral perspective"

Budget should avoid subsidies and protection to biz

Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term

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

Gem and jewellery exporters on Sunday 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 and boost shipments in the forthcoming Budget. The industry also suggested the introduction of presumptive taxation on diamond sales at special notified zones and the introduction of the proposed DESH bill, which seeks to replace the existing law for special economic zones. Seeking a kind of "diamond package" in the forthcoming Budget, the industry said in light of the high inflation and economic crisis in the US and Europe and frequent lockdowns in China, the exports of diamonds and jobs in Surat have been impacted. The conventional source of rough diamonds across the world faces threats of deposit depletion, which also contribute to the exponential increase in the cost of extraction. Industries have thus found lab-grown diamonds to be a profitable alternative. These lab-gr

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

LIVE: Wells Fargo sacks man who urinated on woman on Air India flight

Latest LIVE: The next date will be announced later, BJP councillor Satya Sharma, the presiding officer overseeing the process, said

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