Page 4 - Budget

Increase tax rebate benefits for consumption expenditure in Budget: PHDCCI

Industry body PHDCCI sought increase in the tax rebate benefits for consumption expenditure, reduction in the cost of doing business and hassle free disbursement of loans at affordable rates

Best of BS Opinion: Conservative budgeting, financialising economy & more

Here is the best of Business Standard's opinion pieces for today

Conservative budgeting

Fiscal space should be used carefully

What is in a number?

The system of releasing numerous GDP growth estimates over three years calls for an overhaul. Budget making will also benefit as a result

PM Modi to hold pre-Budget meeting with economists, sectoral experts

Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also be attended by several Union ministers. Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023 Hit by weakening demand, the Indian economy is expected to grow at a slower rate of 7 per cent in the current fiscal ending March 2023, setting the stage for the country losing the fastest-growing major economy tag. The 7 per cent expansion projected in the first official estimate released by the statistics ministry compares with 8.7 per cent gross domestic product (GDP) growth in 2021-22. The projections are much lower than government's earlier forecast of 8-8.5 per cent growth but above the Reserve Bank's projection of 6.8

Budget should avoid subsidies and protection to biz

Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term

Opportunities and choices in the Budget

Fiscal consolidation is needed if India is to seek sustainable private sector-led growth

Infra brushstrokes for the Budget

There are seven key areas that the FY24 Budget needs to address to re-energise the infrastructure sector

At over Rs 6 trillion, capex on new projects sees 44% jump in Q3

The data also showed a 49.9 per cent year-on-year drop in completed projects, and an 87.5 per cent decline in stalling rates

Second part of budget session likely to be held in new parliament building

The new Parliament building is likely to be inaugurated in March, when the House convenes for the second part of the Budget Session. Officials said work was going on in full swing on Parliament building and is expected to be completed by February. The second part of the Budget session is likely to be held in the new Parliament building, sources said. The Budget session is conventionally held in two parts -- the first part usually commences on January 30 or 31 with the address of the President to the joint sitting of the two Houses. The Union Budget is tabled on February 1. The first part usually concludes on February 8 or 9. The second part of the session usually commences in the second week of January and continues till early May. Parliamentary sources said the part two of the session is likely to be held in the new Parliament building which has come up adjacent to the present structure. Last month, Union Housing and Urban Affairs Minister Hardeep Singh Puri had said constructi

Jharkhand Assembly passes Rs 8,534 crore supplementary budget by current FY

The Jharkhand Assembly on Wednesday passed a Rs 8,533.79-crore supplementary budget for the current fiscal by voice vote. This is the second estimates with the House on August 1 passing a Rs 3,436.56-crore supplementary budget for the 2022-23 fiscal. Finance Minister Rameshwar Oraon, who had tabled the supplementary budget on Tuesday, said the government has spent 49 per cent of the main estimates till date, and a supplementary budget was required for ensuring a proper supply of power and scholarships to students etc. The discussion on the budget took place, amid protests by opposition leaders against a recruitment policy. The supplementary budget included Rs 2,733 crore for energy, Rs 1,158 crore for women and child development, Rs 1,050 for Scheduled Tribes, Scheduled Castes, other backward classes and minorities, Rs 595 crore for agriculture. JMM legislator Sudivya Kumar alleged that petitioners, who challenged the recruitment policy in the High Court, hailed from Bihar and Utt

Best of BS Opinion: Lessons in budgeting, a tough track for Usha, and more

Here is the best of Business Standard's opinion pieces for today

Lessons in budgeting: Changing Budget tack amid changing realities

From an adventurous start in 2019 to modest revenue projections last year, there has been a marked change in Ms Sitharaman's approach. T N Ninan looks at what can be expected in Budget 2023

Enhance budget for PLI scheme and widen its coverage: Assocham

The government's PLI scheme, introduced in 2021, had an outlay of around Rs 2 trillion for 13 sectors

On track to meet FY23 fiscal deficit target, inflation within RBI band: FM

'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman

Budget 2023-24: Centre mulls increasing tax-free slab to Rs 5 lakh

Only 10-12% assessees opted for new regime introduced in 2020

Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period

CPSEs are likely to achieve their target as they tend to rush up their spending in March quarter

India has to compete to gain from 'China Plus One' strategy: Eswar Prasad

Companies, investors around the world looking at India's policy trajectory, says the professor of trade policy at Cornell University

Ahead of budget, economists demand increase in social security pension

Ahead of the Union Budget 2023-24, 51 eminent economists have written to Finance Minister Nirmala Sitharaman and demanded an increase in social security pensions and an adequate provision for maternity benefits. The signatory of the letter includes Jean Drze (honorary professor, Delhi School of Economics), Pranab Bardhan (professor emeritus of economics, University of California Berkeley), R Nagaraj (professor of economics, IGIDR, Mumbai), Reetika Khera (professor of economics, IIT, Delhi), and Sukhadeo Thorat (professor emeritus, JNU), among others. "This is a follow-up to our letters of 20 December 2017 and 21 December 2018 (addressed to your predecessor, Shri Arun Jaitley), where we tried to flag two priorities for the next Union Budget: an increase in social security pensions, and adequate provision for maternity benefits. "Since both proposals were ignored, we are writing again, well in advance of the next Budget, with the same recommendations." the letter said. According to t

Budget 2023-24: 'Realistic' 10-11% nominal growth target on the table

Finance ministry expects moderation in retail inflation in FY24