Page 6 - Budget 2023

Budget's focus is growth; Mumbai should be liking proposals: FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday said growth is the main focus of the budget for FY24 presented by her recently. The budget proposals establish both fiscal consolidation and growth, especially inclusive growth, Sitharaman said during her maiden interaction with stakeholders outside the national capital since presenting the budget on February 1. "Growth is the main focus. We want to sustain that recovery, sustain that growth," Sitharaman, accompanied by the top ministry officials at the outreach event, said. She gave credit for ensuring growth to the people of the country, who absorbed the relief and policy measures introduced by the government since the onset of the pandemic to make India the second-fastest growing economy. The finance minister said it was the "express desire" of Prime Minister Narendra Modi to continue with the elevated public capital expenditure, due to which she has proposed a higher outlay of Rs 10 lakh crore under the head. She also thank

Govt needs to complement intent with concrete roadmap to boost tourism

In order to attract more international tourists, India must increase investment and leverage public-private partnership models in healthcare at a faster pace

Jharkhand gets Rs 5,271 cr from Budget for rail infrastructure augmentation

Railway minister Ashwini Vaishnaw on Friday said that Jharkhand has been allocated a whopping Rs 5,271 crore from the Union Budget to augment the railway infrastructure of the state. Addressing the media through video conferencing, the minister said the annual average budget outlay for Jharkhand was around 11 times higher than what the state used to get between 2009 and 2014. He said that as many as 57 stations will be redeveloped in the state and they would be made world-class stations. I request the state government to provide support in land acquisition, forest clearance and law and order so that projects could be completed quickly, he said. DRM of Ranchi railway division, Pradeep Gupta, said that two railway stations - Ranchi and Hatiawill go for complete makeover, while the other stations will be developed as model stations under Amrit Bharat Station scheme. He said as many as 12 stations such as Lohardaga, Muri, Namkum, Ramgarh Cant, Tatisilwai and Gangaghat will be develope

India Inc stares at higher debt cost with lower tax rate for FPIs set to go

Industry to make representations to Finmin seeking grandfathering on existing investment

Budget 2023: Railways makes digital push to end passenger reservation woes

Minister says backend overhaul to increase ticket and enquiry capacity tenfold

Increase in TCS under LRS is to target discretionary spending: Revenue Secy

TCS on remittances made under the LRS was introduced in 2020

Sitharaman to begin post-budget outreach in Mumbai, meet business leaders

Finance Minister will travel to more cities, explain what the budget contains for various stakeholders

Rs 20-trn agri credit outlay to boost tractor manufacturers, PSBs: Analysts

However, fertiliser stocks may not see another upsurge as they have have more-than-doubled in the last six months, they said

Heavy Industries ministry budget doubled; 93% goes towards e-mobility

79% of the total Rs 6171.63 cr that the ministry received was for FAME

Modi govt goes the extra mile to woo tribal population ahead of polls

The moves in the budget are just the latest in a string of efforts that have been employed by the BJP for quite a while

Budget 2023 focuses on promoting growth with inclusion: NITI Aayog CEO

NITI Aayog CEO Parameswaran Iyer on Friday described the Budget 2023-24 as 'very comprehensive and balanced' which will promote growth with inclusion. He also observed that the Budget continues all the reforms and other social welfare programmes undertaken by the government over the past few years. Iyer further said the Budget has something for all, from the bottom, right up to industry to trade. "This is a Budget which focuses on growth, with inclusion. It's very balanced, it carries on from all the reforms and other social welfare programmes which the government has undertaken over the past few years," he told PTI in an interview. Iyer noted that the Budget focuses on infrastructure investment, social sector, and also on reaching out to the poor and marginalised section of society. According to Iyer, the huge focus on infrastructure and capex in the Budget will also incentivise states. Finance Minister Nirmala Sitharaman raised the capital expenditure by 33 per cent to Rs 10

Budget increased by 4 times for tribal communities: Nadda in Tripura

BJP National President Jagat Prakash Nadda on Friday said that the budget has been increased by four times for the tribal communities adding that for the past 70 years, no one cared for the tribals

Industry players welcome Budget's focus on farming, sustainable tech

The government has given priority to farming sector and adoption of sustainable technologies in the Union Budget 2023-24, industry players said. In her budget speech on Wednesday, finance minister Nirmala Sitharaman made various announcements with respect to sectors like infrastructure, steel, power, railways, and agriculture, among others. "With India holding the presidency of the G20 till November 2023, the focus on adopting green energy, and efforts to enhance BioCNG bodes well. We are pleased with the focus that the Budget has had for our industry, in particular, especially from the point of view of scrapping old/polluting vehicles, stressing the need to segregate waste and more importantly...raise funds from the municipal bond market," Jose Jacob, MD, Antony Waste Management, said. Saurabh Shivhare, Director, Kapila Krishi Udyog, said the exemption of up to Rs 7 lakh on income tax will benefit the farmer families more. Farmers will get qualitative benefits from the far-reaching

New IT regime can adversely impact taxpayers' savings: RSS affiliate SJM

RSS affiliate Swadeshi Jagran Manch (SJM) impressed upon the Centre to tweak the tax regime to promote saving by the middle class

Will bring scheme for disposal of small appeals: CBDT chairperson

The Central Board of Direct Taxes (CBDT) will soon come out with a scheme on the Budget announcement of reducing pendency of appeals related to TDS default issues, board chairperson Nitin Gupta said. In her Budget speech on Wednesday, Union Finance Minister Nirmala Sitharaman said she proposes to deploy about 100 joint commissioners of the Income Tax department for disposal of small appeals and to reduce the pendency of appeals at the commissioner level. "We will come up with a scheme, the appeals dealt here will be mainly relating to TDS (tax deducted at source) default, the orders on TDS default, the orders on the processing of return of income where we feel that it requires adjustment and the taxpayer feels otherwise...there could be cases of small income (under dispute)," Gupta told PTI during a post-Budget interview. The scheme will aim to expedite the process of disposal of appeals by the first appellate authority, which is the Joint Commissioner for Appeals, he said. Under t

Highest-ever sports budget in 2023-24, but where would it go exactly?

Understanding the sectoral payouts of sports budget would give a broader understanding of where exactly the money is going to be spent

Maintaining growth momentum the main idea behind Budget preparation: FM

Sitharaman said she was clear that the Budget had to keep the growth momentum intact, and even Prime Minister Narendra Modi was on board with it

Why Sitharaman called millets 'Shree Anna' - the mother of all grains

Rendered 'orphan crops' post the Green Revolution, these healthy grains have got renewed push

AAP alleges MCD passed civic body budget without keeping it in loop

The Aam Aadmi Party Friday alleged that the Municipal Corporation of Delhi (MCD) budget was passed by the civic body without keeping the ruling party in the loop. No reaction to the allegation was immediately available from the civic body officials. AAP chief spokesperson Saurabh Bhardwaj claimed that they learnt through newspaper reports that the budget had been passed by the MCD and since this was the objective, the elections of the mayor and deputy mayor were deliberately delayed. "It is a dangerous trend. The AAP, which came to power in the MCD, was not informed that the budget has been passed by the officers. This is wrongdoing," he claimed. The AAP won 134 wards in the MCD polls in December while the BJP won 104 wards. "The AAP has always kept the promises made in its manifesto. The budget is prepared by them and the job will be ours to work according to it. This is wrong," Bhardwaj said. The mayoral election is the first item on the agenda for the municipal House slated to

Budget 2023: What does the announcement related to P-notes indicate?

Clearly, the govt is worried about inflows in 2022 because of the global economic uncertainty and has decided to encourage inflows via any means possible, PNs included