Page 5 - Budget 2023

Interests of poor at centre of every budget presented by BJP govt: PM Modi

Prime Minister Narendra Modi asserted on Tuesday that interests of the poor have been at the centre of every budget presented by his government. Addressing the first BJP parliamentary party meeting after the Union Budget was presented on February 1, he said no one is calling it a "chunavi budget" (budget influenced by polls) even though it was the last full-fledged one before the next Lok Sabha polls. Overall development and the interests of every section of society have driven its proposals, he said. Even those who have been ideologically opposed to the BJP have welcomed the budget, Union minister Pralhad Joshi told reporters quoting Modi's speech to the MPs. The prime minister also asked the MPs, especially those from cities, to organise sports meets, noting that there is a view that the youth there are not much involved in sports. Foreign guests visiting Indian for various G20 meetings have appreciated the way the country has organised them, he added.

Supporting farm growth

Budget has enabling proposals

Signs of a weakening public sector

States may have got more through tax transfer, but the composition of the PSU capital outlay causes concern

Budget to help in reducing capital cost for Indian companies: Niti member

Appreciating Finance Minister Nirmala Sitharaman for continuing fiscal consolidation in the Budget for 2023-24, Niti Aayog member Arvind Virmani on Tuesday said it would help in reducing the cost of capital for Indian companies. Virmani further said the large increase in capital expenditures by 33 per cent to Rs 10 lakh crore for infrastructure development will accelerate India's economic growth. "On fiscal consolidation, the Finance Minister has reiterated that she will stay on it (the path of fiscal consolidation). "... So, in a situation where there is a lot of global uncertainty, it is very very important because it will have an effect on interest rates available to Indian companies," he told PTI. Sitharaman in her fifth straight budget has raised the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development in 2023-24. She announced a lower fiscal deficit target of 5.9 per cent for FY24 while retaining it at 6.4 per cent for the current financial .

Centre plans to roll out research-linked incentive scheme for pharma sector

In the Union Budget 2023-24, Finance Minister Nirmala Sitharaman had hinted at fostering a research-driven climate in the pharma sector in India

PM Awas, Jal Jeevan to create rural jobs, justify MGNREGS cut: CEA

The CEA also said that as nominal and real GDP growth improve, many more urban jobs will be created and that will also absorb more of the rural workforce

Union Budget 2023: Middle-class thrust that largely sidelines the poor

All these schemes announced are designed for those who have reasonable accumulated savings, not for a large majority of the people in the informal sector, who simply don't

Union Budget a silent strike on poor by Modi govt, says Sonia Gandhi

Former Congress president Sonia Gandhi on Monday said Union Budget 2023-24 is a "silent strike" on the poor by the Modi government and hits at the heart of all far-reaching rights-based legislation enacted during the UPA rule. In an opinion piece in The Indian Express, Gandhi also made an apparent reference to the allegations against the Adani Group, saying Prime Minister Narendra Modi and his ministers are resorting to loud chants of 'vishwa guru' and 'Amrit Kaal', even as "financial scandals" erupt over his "favourite and favoured businessman". "The prime minister's policy to benefit his few rich friends at the expense of poor and middle-class Indians has led to continuous disasters from demonetisation to a badly-designed GST hurting small businesses, to the failed attempt to bring about the three farm laws and the subsequent neglect of agriculture," Gandhi alleged. "Destructive" privatisation has handed over priceless national assets to selected private hands cheaply, leading to

IRDAI should set up a committee to review its regulations: Experts

In line with Nirmala Sitharaman's budget announcement, the Insurance Regulatory and Development Authority of India (IRDAI) should set a committee of its own to review its various regulations

Budget laid foundation to make India developed nation in next 25 yr: RS MP

Rajya Sabha member G.V.L. Narasimha Rao on Sunday said that the Union Budget laid the foundation to make India a developed nation in the next 25 years

TMS Ep362: Budget for rich, capex outlay, RBI rate hike, night light data

How does the Budget affect the super-rich? Has India's capex outlay actually increased? Will a dovish RBI bolster investor sentiments this week? How does night light data show progress? Answers here

Green growth push

New initiatives have long-term potential

Govt likely to put on hold proposal to revamp the capital gains tax regime

Given global uncertainties, rejigging the tax regime may affect market sentiment

Budget paid special attention to middle class, poor, farmers: Sushil Modi

BJP Rajya Sabha MP Sushil Modi Sunday said the Union Budget has paid special attention to the middle class, the poor, farmers, self-reliant youth and tribes. Today, India, with foreign exchange of Rs 563 lakh crore, has become the fifth largest economy in the world, he told reporters at a press conference here. About the Centre's decision to celebrate 2023 as the "International Year of Millets", the former deputy chief minister of Bihar said the grain will not only become a source of nutrition for the people but also increase employment opportunities as well as exports. The aim of celebrating 2023 as the "International Year of Millets" is to make it a people's movement so that Indian millets, recipes and value-added products are promoted globally. Recounting the benefits of several Centre-run schemes, Sushil Modi said that more than 3 crore homeless people in the country have been provided housing facilities and 47 crore got support through Jan Dhan account, which is commendable an

Budget will pave way for building a developed India: Ravi Shankar Prasad

Senior BJP leader Ravi Shankar Prasad on Sunday said the Union Budget for 2023-24 will pave the way for the welfare of the poor and farmers and building a developed India. Uttarakhand will especially benefit from schemes such as Shri Anna Yojana and the provisions made in the budget for agriculture, tourism and infrastructure, Prasad said at a press conference here as part of the BJP's countrywide discussion on the Union Budget. "The Union Budget is in the interest of the people of the country. A roadmap for the development of the poor, farmers, youth and women is at the core of the budget for 2023-24," Prasad said. Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Parliament on February 1. Prasad said at a time when the entire world is suffering the impact of the Russia-Ukraine war, India is touching new heights of development. The International Monetary Fund (IMF) has predicted India's GDP is to grow at a rate 6.8 per cent. It shows India is a shining

Adani group stock rout has shaken investor faith, says Gaurav Dua

"A monetary policy meeting this week and some important October-December 2022-23 results may influence the near-term direction of markets"

Proposed National Research Foundation gets Rs 2,000 crore in Budget

The allocation of Rs 2,000 crore in the Union Budget for the proposed National Research Foundation, a new funding agency to bolster India's research competence, has raised expectations among various quarters for it to take wings soon. Union Finance Minister Nirmala Sitharaman announced the allocation to National Research Foundation (NRF) as a component of the Department of Science and Technology (DST), and not as an agency independent of the government. However, government officials pointed out that the allocations to the NRF were earmarked in the outlay for the DST as the funding agency was yet to receive approval from the Union Cabinet. "It is a new scheme of the government to fund cutting-edge science, especially for the state universities," DST Secretary Srivari Chandrasekhar told PTI. The Union Cabinet was expected to approve the proposal of setting up NRF very soon, he said. Chandrasekhar said the initiative to set up the NRF was driven by the Office of the Principal Scienti

Union Budget gives larger wings to regional connectivity scheme UDAN

'Fifty additional airports, heliports, water aerodromes and advanced landing grounds will be revived for improving regional air connectivity'

Higher capex, infra push, green initiatives to push demand for bank funds

However Sitharaman declined to elaborate on the proposed amendments when queried by the media as the Parliament session is on

FM's bullishness on millets in Budget must translate as benefits to farmers

Telangana figured just once, albeit tangentially, in 1 Union Budget speech by Finance Minister Nirmala Sitharaman