Page 4 - Budget 2023

Economists, health experts pitch for higher taxes on tobacco products

Economists and public health experts have welcomed the duty hike on cigarettes in this year's budget and pitched for higher taxes on more tobacco products to make them unaffordable and India tobacco-free in "Amrit Kaal". The hike in national calamity contingent duty on cigarettes by 16 per cent clearly shows the government's intent to further strengthen the tobacco control policy and levy higher tax on "sin" products that claim more than 13 lakh lives in the country every year, noted economist and BJP spokesperson Gopal Krishna Agarwal said. Participating in a discussion on "Amrit Kaal: A Journey towards Tobacco-Free India", organised by Tobacco Free India, a citizen group platform, Agarwal said a hike in prices on such harmful products through tax policy is the most effective way to reduce tobacco consumption. "This can be done by implementing 'triple A' concept: cutting down 'affordability' and 'availability' of tobacco items by hiking tax while making people 'aware' of its harmfu

Customs duty cut, I-T slab rejig to boost consumer durable stocks: Analysts

With revised customs duty across consumer electronics' manufacturers, analysts believe this measure would reduce costs for manufacturing mobile phones, TV panels, and kitchen chimneys

Union budget 'exclusionary', minorities 'brutally discriminated': Congress

Dubbing the Union Budget "exclusionary", Congress leader in Lok Sabha Adhir Ranjan Chowdhury alleged on Friday that the minorities have been "brutally discriminated" against in the allocations and that many view it as part of a series of Islamophobic policy decisions by the government. Concluding a discussion on the budget in Lok Sabha, Chowdhury also asked the government to answer questions raised in the US-based short seller Hindenburg Research's report on billionaire Gautam Adani's companies that triggered an unprecedented stock crash. He reiterated the Opposition's demand for a joint parliamentary committee probe or a Supreme Court-monitored investigation into the matter. Chowdhury alleged that the Union Budget for 2023-24 was nothing but "skewed numbers" and had neglected regions such as Ladakh, Jammu and Kashmir and the Northeast. He claimed that the budget had failed to cater to vulnerable sections of society, including women, Scheduled Castes, Scheduled Tribes and ...

The life insurance sector's trouble with taxation on high-value policies

The imposition of a tax on high-value policies could hurt the growth rates of life insurers in the next fiscal year

Reliance Capital suitors likely to redraw offers after Budget tweak

The dispute is now pending at the National Company Law Appellate Tribunal (NCLAT)

Budget 'betrays' farmers, no mention of MSP: SAD MP Harsimrat Kaur Badal

Shiromani Akali Dal MP Harsimrat Kaur Badal on Thursday accused the Centre of "cheating" farmers and said there was no mention of Minimum Support Price, as promised to the protesting farmers, in the Union Budget 2023-24. Participating in a debate on the budget in Lok Sabha, the former Union food processing industries minister said farmers were sitting at Delhi borders for months, but no central ministers visited them. "Farmers were at Delhi borders for a year... 800 farmers lost their lives, did any minister visit them?" she asked. "The government asked the farmers to end their protest and promised them a law on Minimum Support Price (MSP). It is not even mentioned in the budget," she said. Badal said words like 'aatmanirbhar' (self-reliant) and 'achche din' (good days)were missing from the budget. "The budget has new 'jumlas' (gimmicks), new names, and neither unemployment nor inflation were mentioned. But the biggest betrayal is to the farmers," she said. "The government is pat

Large Budget allocation to infrastructure makes theme attractive

While infra funds can offer good returns over long term, returns tend to swing wildly from one year to next

MPC's 11.7% nominal GDP growth projection way higher than Budget estimate

If MPC's projections hold good, various figures in the Budget would change when the revised estimates are worked out

RBI's approach to help set stage for a soft landing

The RBI's caution on inflation and its relatively hawkish position demonstrate its steadfast commitment to achieving the inflation target of 4%

LIVE: PM to reply in Rajya Sabha on Motion of Thanks tomorrow: Dhankhar

Catch all the live updates from across the globe here

Growth, Budget and macro balances

The responsible revenue and expenditure projections are to be lauded, but efforts on trade and fiscal targets fall short

Budget 2023-24 will give boost to fund-starved sectors: MSME secretary

The Centre has acknowledged MSMEs' contribution to the country's economic growth, and the Budget 2023-24 has given a boost to the fund-starved sector with higher credit flow and by simplifying compliances, an official said on Wednesday. Availability, accessibility and affordability of credit/funds are the main challenges of the sector, said B B Swain, Secretary to the Union Ministry for Micro, Small and Medium Enterprises (MSMEs). He was addressing a session at the launch of the three-day Indian Foundry Congress (IFC) and India Foundry Equipment Exhibition (IFEX), being organised by the Institute of Indian Foundrymen (IIF) at the India Expo Centre in Greater Noida. "The government has acknowledged the contribution of MSMEs to the economic growth of the country. Union Budget 2023-24 has given a boost to the fund-starved sector with higher credit flow and by simplifying compliances," Swain said. He said the launch of a revamped credit guarantee scheme worth Rs 9,000 crore for MSMEs .

ED has done what voters couldn't; united the Opposition, says PM Modi

She guided millions of Indians; her presence as the head of the republic is historic and inspiring, said PM Modi in his reply to the motion of thanks on the President's address

Maha Budget session from February 27 to March 25; to be tabled on March 9

The budget session of the Maharashtra legislature will be held from February 27 to March 25 and the state's budget for fiscal 2023-24 will be presented on March 9, a government release said on Wednesday. This will be the first budget of the government led by Eknath Shinde, who broke away from the Shiv Sena last June and joined hands with the Bharatiya Janata Party. Deputy Chief Minister and state finance minister Devendra Fadnavis will present the budget, it said. On the first day of the session on February 27, the newly recognised state song Jai Jai Maharashtra Majha' will be played, said the release. The decision on the budget session was taken at a meeting of the Business Advisory Committee of the assembly, chaired by Speaker Rahul Narvekar and Neelam Gorhe, deputy chairman of the Legislative Council, said the release. Five bills that have been cleared by the state cabinet will be tabled during the budget session, while eight more, yet to be cleared, are proposed to be tabled, t

Union Budget 2023: Growth-oriented with tax stability and rationalisation

Budget 2023 has maintained the status quo on tax policies with more thrust on certainty, which is a step in the right direction

AAP distributing revdi while govt allocated funds to Delhi in Budget: Lekhi

Taking a dig at the Delhi government, Union minister Meenakshi Lekhi on Tuesday said while the Centre provided funds to the city under different heads in the Union Budget 2023-24, the AAP dispensation was busy distributing 'revdi' (freebies). No immediate reaction was available from the Aam Aadmi Party (AAP) on the allegations. Speaking at a press conference, Lekhi noted that Rs 11,932.03 crore was allocated to Delhi Police in the budget which is an increase of Rs 1,576.74 crore over the previous year. This is in line with the commitment of the central government to ensure law and order in the city, she said. "The eyes of the world are set on Delhi being the G-20 Summit venue this year, and the Centre has increased the 'capital' section allocation to Delhi Police by 136 per cent to Rs 1,289.92 crore for the 2023-24 financial year which is Rs 546.90 crore more than the last financial year," a party statement quoted Lekhi as saying. The Minister of State for External Affairs also sai

20.7 mn households seek MGNREGA work in Jan, 2.26% less than in December

But it is about 9.7% more than the pre-pandemic month of Jan 2020; meanwhile, activists flay slashing of MGNREGS budget, say it will cause wage payment delays, suppress work demand

NCS to be primary govt portal for skilled and unskilled workers

The ASEEM portal acts as a directory that matches supply of the skilled workforce with the market demand

Budget Session: Census paused, no plan to hike amount under PM-Kisan & more

The existing annual income ceiling of Rs 8 lakh is 'sufficient' to determine the OBC non-creamy layer status of community members: Centre

Insurance execs to FM Sitharaman: Relax taxing high-value policies

They want the threshold of premiums beyond which the income from these policies is taxed raised to Rs 10 lakh per year from the current Rs 5 lakh