Budget Proposals
Biden unveils $6.9 trn budget, raises tax on rich, boosts spending on infra
US President Joe Biden on Thursday unveiled a USD 6.9 trillion annual budget for the year 2024, which proposes a hefty tax on the rich, massive spending on social measures and investment on building key infrastructure. The budget was termed a "non-starter" by the Republicans who have a majority in the House of Representatives. Biden at a rally in Philadelphia asserted that his budget reflects what "we can do to" lift the burden on hard working Americans and it would reduce the deficit this year by USD 160 billion. "To support working parents, my budget expands access to affordable childcare for millions of families. And it's going to invest in paid family medical leave," Biden said, adding that his budget also invests in elder care and home care and restores the child tax credit. Biden said the budget will deliver funding to help the US lead the world again. "My budget also invests in critical issues that matter to families, increasing the supply of affordable housing, lower rental
 "Biden unveils $6.9 trn budget, raises tax on rich, boosts spending on infra")
Direct tax: Budget gives a blueprint for sustained high-growth trajectory
Presently, no TDS is required on interest payable in the case of listed dematerialised securities
 "Direct tax: Budget gives a blueprint for sustained high-growth trajectory")
Indirect taxes: Budget proposals aligned with govt's strategic priorities
Budget 2023-24 adopted seven priorities or Saptarishi, one of which is building focus on green growth
 "Indirect taxes: Budget proposals aligned with govt's strategic priorities")
Budget 2023 a roadmap for resurgent India; aims to get fiscal house in order
Budget 2023: This budget may galvanize an effective AI ecosystem necessary to nurture buoyancy in GST revenues and improve taxpayer morale and trust in the system
 "Budget 2023 a roadmap for resurgent India; aims to get fiscal house in order")
Eco Survey paints a bright medium-term outlook after an unpredictable year
It says once the global shocks of the pandemic and 2022's unpleasant spike in commodity prices fade away, the Indian economy is likely to record a faster growth during the rest of this decade
 "Eco Survey paints a bright medium-term outlook after an unpredictable year")
After Economic Survey in January, vision document likely in July
Vision document in July to provide road map for next 3-5 years as well as for 'Amrit Kaal'
 "After Economic Survey in January, vision document likely in July")
The process involved in preparing the Union Budget: An explainer
All of this culminates on February 1, when the Cabinet approves the budget, the Finance Minister presents it to the President, then proceeds to Lok Sabha, where she rises at 11 am to begin her speech
 "The process involved in preparing the Union Budget: An explainer")
Too conservative or well balanced? How brokerages interpret Budget 2022
These brokerages houses are bullish on banks and capital goods.
 "Too conservative or well balanced? How brokerages interpret Budget 2022")
The budget focuses on the next few years and not the elections
The thrust of the Budget has been in infrastructure modernisation, says U R Bhat.
 "The budget focuses on the next few years and not the elections")
The budget focuses on the next few years and not the elections
The thrust of the Budget has been in infrastructure modernisation, says U R Bhat.
 "The budget focuses on the next few years and not the elections")
Centre not likely to go for any off-Budget borrowing this year
This is a move that has been hailed by economists and policy-watchers as it makes budgeting a more transparent process
 "Centre not likely to go for any off-Budget borrowing this year")
Pakistan govt employees protest, demand 25% hike in salaries after budget
Pakistan government employees on Friday demanded 25 per cent hike in their salaries and protested against the 10 per cent hike provision proposed in the national budget for FY2021-22
 "Pakistan govt employees protest, demand 25% hike in salaries after budget")
 "Equalisation levy: Objective, Budget proposal and impact")
Why govt needs a fresh 20/20 vision for Budget 2020
The provisional actual numbers reveal revenue shortfall led to a wider fiscal deficit in 2019-20, but unlike the previous year, the gap was met largely through higher borrowing in a transparent manner
 "Why govt needs a fresh 20/20 vision for Budget 2020")
Budget proposals on DDT, personal tax not to impact MF industry: Templeton
After the Union Budget was presented on February 1, there had been some apprehensions on the growth of MF sector in the coming days
 "Budget proposals on DDT, personal tax not to impact MF industry: Templeton")
Some Budget proposals prone to litigation, may give rise to tax disputes
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence
 "Some Budget proposals prone to litigation, may give rise to tax disputes")
FinMin releases timelines for submission of budget proposals
Basis of the final budgetary allocations will be the ceilings indicated in the Medium-term Expenditure Framework
 "FinMin releases timelines for submission of budget proposals")
Experts divided over Dec Budget
Secretaries see the possible pluses but are equally conscious of the negatives
 "Experts divided over Dec Budget")
