Page 3 - Budget

Annual agri-budget rose 5-fold to Rs 1.25 trn since 2014: PM Modi

India's agriculture sector's annual budget has increased five-fold to Rs 1.25 lakh crore since 2014, Prime Minister Narendra Modi said on Friday, as he stressed that his government is focusing on progress of the farm sector and working on mission mode to reduce import dependence of food items like edible oils. The Prime Minister was addressing a post-budget webinar on 'Agriculture and Cooperatives'. It is the second of a series of 12 post-budget webinars organized by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget 2023. Modi also outlined the various steps announced in the budget to attract young talent in the sector, and expansion of the cooperative sector across the country. He stressed that various decisions are being continuously taken in the budget to promote the agricultural sector so that the nation becomes 'atmanirbhar' and the funds used for imports can reach farmers. Highlighting the importance

Gujarat govt presents Rs 3.01 trn budget with no new taxes proposed

The Gujarat government on Friday presented a Rs 3.01 lakh crore budget with no new taxes imposed on people. Gujarat Finance Minister Kanu Desai presented the budgetary outlay for fiscal 2023-24 in the state Assembly here. This was the first budget of the new Bharatiya Janata Party (BJP) government headed by Chief Minister Bhupendra Patel which took office in December last year after the saffron outfit registered a landslide victory in the Assembly polls. The Budget 2023-24 proposes a slew of schemes and projects, some of which were part of the promises made by the BJP in its manifesto before the 2022 elections, like doubling the insurance coverage under the Pradhan Mantri Jan Arogya-MA (PMJAY-MA) scheme to Rs 10 lakh from Rs 5 lakh and providing two gas cylinders free per year to the beneficiaries of Ujjwala scheme. Minister Desai said that taking into consideration the revenue account with capital account and net public account, the estimates for the financial year 2023-24 show a .

Rs 27 cr allotted for promotion of millets in Haryana budget FY24: Khattar

A project of Rs 27 crore is being prepared to promote the cultivation of millets, said Haryana Chief Minister Manohar Lal Khattar while presenting the state budget for 2023-24. The state government has also set a target of 20,000 acres of land for the adoption of natural farming in the state, said Khattar in the state assembly here. While tabling the fourth budget of the second term of his government in the state, Khattar proposed a 19 per cent increase in allocation for the agriculture and allied sectors and cooperation at Rs 8,316 crore for the year 2023-24. "Agriculture and allied activities contribute 18.5 per cent to the economy of the state. The contribution of Haryana's farmers to the economic development of India is well recognized," said Khattar in the House. Khattar said on the request of the government of India, the United Nations is celebrating 2023 as the International Millets year and the government of India is actively promoting the cultivation and consumption of ...

MCD passes schedule of taxes in civic budget 2023-24, says official

The Municipal Corporation of Delhi passed the "schedule of taxes" in the civic budget 2023-24 on Wednesday, a senior official said. The unprecedented move comes as Delhi is still to get a mayor, despite three attempts to hold the mayoral election. "The Corporation passed the schedule of taxes (in civic budget 2023-24) today," the official said. It was passed by the special officer of the MCD. The taxes, rates and cesses leviable in the year 2023-24 will remain the same that are prevalent as on today, the MCD said in a statement. The municipal commissioner had presented the MCD budget in December which included the revised budget estimate for 2022-23 and budget estimate for 2023-24, an official source had said. "The Corporation will pass the schedule of taxes (in civic budget 2023-24) tomorrow (Wednesday). The remaining part of the budget exercise will be carried out before March 31," a senior official had told PTI on Tuesday. "The MCD hopes that by that time the deliberative win

Digital literacy prompts India to push next phase of Aadhaar in Budget FY24

Women doing better in digital awareness among reasons for government to expand technology in policies

Schemes not 'freebies', but part of social security: CM on Rajasthan Budget

"We made a promise to our people, we are just delivering on that promise. Social security is their right," he said

Life insurance companies plan strategy tweak to offset tax impact

Union Budget has proposed to tax high-value policies with premium aggregating to Rs 5 lakh per year to plug arbitrage that HNIs are using to get tax-free returns on policies through Section 10(10D)

Will extra funds for rural housing, drinking water create enough jobs?

While cutting down the allocation for MGNREGA in the budget of FY24, the Centre has raised it for Pradhan Mantri Awas Yojana-Grameen, and Jal Jeevan Mission

Mizoram CM presents Rs 14,209 cr zero-deficit budget; no new tax proposals

Mizoram Chief Minister Zoramthanga on Monday presented in the assembly a zero-deficit and non-surplus annual budget for the financial year 2023-24 with a total outlay of Rs 14,209.95 crore. There was no proposal for levying new taxes or hiking the existing tax rates. The chief minister also tabled supplementary demands for the current fiscal (2022-2023) amounting to Rs 3,265.69 crore. The total budget outlay was Rs 14,008 crore in the last financial year. Zoramthanga, who also holds the finance portfolio, said that emphasis was laid on the Socio-Economic Development Policy (SEDP) and Rs 595 crore was allocated to it for the 2023-24 fiscal. The SEDP is the flagship programme of the Mizo National Front (MNF) government which aims at bringing sustainable development by accelerating progress in key sectors through exploration and judicious use of resources. "Out of Rs 595 crore, I commit to allocate Rs 300 crore under family-oriented SEDP for the year 2023-24," Zoramthanga, who also h

Rajasthan Budget: CM announces inflation relief package of Rs 19,000 crore

Rajasthan Chief Minister Ashok Gehlot announced an inflation relief package of Rs 19,000 crore in the state's Budget for 2023-24 to provide relief to the masses from rising prices. The package includes free food packets every month to poor families, LPG cylinders for Rs 500 under the Ujjwala Scheme and free electricity up to 100 units per month to domestic consumers. Gehlot, who also holds the finance portfolio, announced to increase the coverage amount from Rs 10 lakh to Rs 25 lakh annually per family in his ambitious Chiranjeevi Swasthya Bima Yojana. "I announce to give free Chief Minister Annapurna food packets every month along with free ration to about one crore families coming under the purview of the National Food Security Act," he said. "One kilogram pulses, sugar, salt and one litre edible oil will be made available in this packet. About Rs 3,000 crore will be spent on this," he added. The Congress leader further said, "About 76 lakh families included in the BPL and the .

PM Narendra Modi should focus on people, not only on big projects

What must be even more confounding is how Indian leaders appear able to get away with budget math other politicians cannot, whether economically or politically

Green growth push

New initiatives have long-term potential

Budget 2023 proposals will put India firmly back on the FII's radar

The measures, overall, will push private capex higher at a time when the global economy is facing recessionary headwinds, says Andrew Holland

Union Budget to be pro-people, will boost economic growth: Basavaraj Bommai

Karnataka Chief Minister Basavaraj Bommai on Wednesday said that the Union Budget 2023 will be a "pro-people" budget that will support the growth of the economy

Union Budget: 'Allocate funds to encourage women's participation in sports'

India's Union Budget for 2023-24 must lay emphasis on strengthening country's sports infrastructure in non-metro cities, improving girl's participation in sport and investing in young sportspersons at the grassroots level, said sports scholar & team owner of Gurgaon InCredibles at LastManStands, Aman Dhall in his pre-budget expectation from the government.

Congress to hold MPs' meeting ahead of Budget presentation in Parliament

Congress has convened a meeting of its Lok Sabha MPs ahead of the budget presentation in Parliament to devise strategy

Union Budget 2023 to incorporate every section's expectations: MoS Finance

Ahead of the presentation of Union Budget 2023-24 in the Parliament, Minister of State for Finance Pankaj Chaudhary said that the budget will incorporate the expectations of every section of society

Understanding budget receipts and the role they play in govt finances

Capital receipts are non-recurring and either create a liability for the govt or deplete its assets; revenue receipts are recurring and do not entail any risk for the govt

UP claims development, but budget allocations remain unspent: Report

Allocated funds, if not used within a given financial year (when the budget is passed), are not carried over to the next financial year

States do Centre a good turn

A sharp reduction in states' deficit augurs well for the Centre's fiscal planning