Page 5 - Budget

Japan's PM seeks to increase defence budget to 2% of GDP in fiscal 2027

Japanese Prime Minister Fumio Kishida has required cabinet Ministers to increase the nation's defence budget to around 2 per cent of GDP in the fiscal year of 2027

Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman

The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth

10 major trade unions boycott pre-budget meeting with Sitharaman

Ten major trade unions of the country, including the AITUC, INTUC, and AIUTUC among others, boycotted their pre-budget consultations with Union Finance Minister citing lack of proper time given

Budget 2023: MFs seek LTCG exemption for longer-term equity investments

Industry says exemption for those staying invested for over three years will help channelise flows into financial assets

300-400 new Vande Bharat trains to be announced in upcoming Union Budget

According to a railway ministry official, there will be an announcement for provision of 300-400 new Vande Bharat trains in the Union Budget 2023-24 which will be the highest ever allocation

FM Sitharaman seeks to shrink budget deficit as global headwinds loom

A longstanding plan aims to shrink the shortfall to below 4.5% of GDP by 2025-26

Rajasthan govt's new scheme gives a boost to businesses of Dalits

Provisions for subsidies for eligible people

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'

Abolish exemptions

Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy

Paris 2024 organizers say budget likely to increase 'because of inflation'

The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. The organizing committee, known as COJO, had an original operating budget of around 4 billion euros ($4.1 billion) but will present a revised figure at a board meeting next month that is expected to reach 4.4 billion euros ($4.5 billion). Organizers said half the extra money is needed to cover the impact of inflation, while some will go toward additional expenses for the opening ceremony on the Seine river and costs such as human resources and cybersecurity. The overall budget for the Paris Olympics, including the cost of building and renovating venues, is about 8 billion euros ($8.2 billion) and has already gone up from its original estimate. On the other hand, organizers expect to generate more income from tickets sales than initially expected and said they have already secured 80% of the 1.1 billion euros in revenues from partnership deals the

Italian cabinet passes new budget law, plans measures worth $35.8 bn

The new budget included a package aimed at alleviating skyrocketing energy costs for companies and households, as well as tax cuts for employees and self-employed workers

Focus on job creation, capex boost, tax measures in Budget: Industry to FM

Employment-linked incentive scheme for services sector suggested

FM Nirmala Sitharaman to kick-start pre-Budget meetings from Monday

Finance Minister Nirmala Sitharaman will kick-start the customary pre-budget meetings beginning Monday with a special focus on issues concerning climate change and infrastructure. The minister would hold virtual meetings on November 21 in three groups with industry chambers, infrastructure sector and environment experts seeking suggestions for the 2023-24 Budget making from stakeholders. On November 22, Sitharaman would meet agriculture and agro processing industry, representatives from financial sector and capital markets. She will also be meeting the representatives of services sector and trade bodies, besides experts from social sector, including health, education, water and sanitation, on November 24. The pre-budget meetings with the trade union representatives and economists are scheduled for November 28. The participants will give suggestions on the 2023-24 Budget which will be presented in Parliament by the Finance Minister on February 1. Sources said climate change would

Govt plans changes in capital gains tax in Budget 2023, says report

Changes in capital gains tax in India are expected in the next budget, an income tax official from India's finance ministry said on Tuesday

Budget 2023-24: Disinvestment target likely to stay elevated for FY24

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

Budget 2023-24: Sitharaman's meetings with stakeholders to begin on Nov 21

Seven meetings will take place between November 21 and 24, while the pre-budget interaction with state Finance Ministers is expected to take place in December in Madurai

Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

The Department of Social Justice, the nodal authority, has floated a draft cabinet note for inter-ministerial consultation

On the cards: Expansionary Budget with optimistic tax revenue rise

Finance Minister Nirmala Sitharaman is expected to present the next Budget on February 1

Sanction of Rs 7,565 cr for Rajasthan in this year's budget: Vaishnaw

Union minister Ashwini Vaishnaw on Saturday said railway projects worth Rs 7,565 crore were sanctioned for Rajasthan in this year's budget, a record for the state. The total cost of projects approved for Rajasthan stands at Rs 57,000 crore, the Union Railway minister said. "Today, projects worth Rs 57,000 crore have been sanctioned in Rajasthan. Rajasthan has got a record sanction of Rs 7,565 crore in this year's budget. There was a time when only Rs 700 to Rs 750 crore was given to Rajasthan. The speed in work which has come is seen now," Vaishnaw said. Vaishnaw was in Rajasthan for the 'Rozgar Mela' event here where he handed over appointment letters to new recruits in various government departments. During the event, he urged the new recruits to work with the spirit of 'nation first' and never compromise on it. Rajya Sabha MPs Ghanshyam Tiwari and Kirori Lal Meena, Jaipur Urban MP Ramcharan Bohra, BJP state unit chief Satish Poonia were also present at the event. Speaking on th

Next big thing is to take solar to everyone's life: ISA Director-General

In a Q&A, Dr Ajay Mathur talks about the Alliance's current agenda, and financing and capacity building plans across green sectors