Page 5 - Budget

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

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