Page 7 - Budget

Finance Ministry to kick-start budgetary exercise from October 10

The finance ministry will kick-start the exercise to prepare the annual budget for 2023-24 from October 10 in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, boosting demand, job creation and putting the economy on a sustained 8 per cent-plus growth path. Earlier in the day, the finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth. "Some of course are red-lettered (priorities), some may not be. Red-lettered ones would of course be jobs, equitable wealth distribution and making sure India is moving on the path of growth. "In that sense inflation is not red-lettered. I hope it doesn't surprise many of you. We have shown that in the past couple of months that we were able to bring it to a manageable level," she said. It will be the fifth budget of the Modi

India will not miss estimated 11.1% FY23 nominal GDP growth: Bibek Debroy

Says country will the milestone assumed in the Budget despite the tense geopolitical situation

Sri Lankan President to present interim budget with major relief measures

A comprehensive budget is also planned to be presented for the year 2023 in November

Don't burden utilities, pay for freebies from budget: Sitharaman to parties

Union Finance Minister Nirmala Sitharaman on Friday said political parties that come to power on pre-poll promises of freebies should pay for those through budgetary provisions. Citing the example of free electricity being promised in many states, the finance minister said the burden for the freebies should not be thrust upon the power discoms or gencos. "If a promise has been made to the people at the time of the election, you are looking at a quid pro quo. You should be, as a responsible party, assume after you come to power, make a provision in the budget for it," Sitharaman said, speaking at the FE Best Bank Awards event here. She said in the case of the power sector, there have been cases where states have paid the utilities in parts or not paid at all. "You end up shifting the burden to the discom which has not gone to the election. The discom has not asked for votes. Why should they be burdened? Do they have the power to stop continuing the supply? And similarly the gencos,"

Centre reins in its debt at 56% for FY22 against 60% pegged in Budget

Government committed to its fiscal deficit targets, says senior civil servant

Punjab power subsidy at multi-year high, other sops in focus in new budget

Punjab's new budget promises sops that may delay the state's date with fiscal prudence

Agnipath scheme: A burgeoning pension bill is the govt's big headache

Pension is growing faster than the salaries of state employees, accounted for a third of revenue expenditure by armed forces in 2013-14 and 2020-21

China budget deficit hits record high amid tax rebates, Covid pain

The drop in revenue just as more spending is needed will force local authorities to either boost their already heavy debt burden or accept weaker economic growth

Pakistan's Punjab gets huge share of 51.74% in budgetary distribution

Sindh's share was 24.55 per cent. 14.62 per cent and 9.09 per cent share would be distributed to Khyber Pakhtunkhwa and Balochistan respectively, The Express Tribune reported.

Two records and a turn

The finance minister's ability to effect a steady rise in capex is more significant than her two records on deficit management

Mann-led AAP govt in Punjab to present its first budget on June 27

Chief Minister's Office said the Cabinet gave the nod for promulgation of the session from June 24 with obituary references and motion of thanks on Governor's Address, followed by a discussion on it

When it comes to making the Budget, India needs to learn from the UK

The setting up of an OBR-like fiscal council has been thwarted by bureaucrats scared of losing turf and being accountable to the evidence

UP budget to focus on infra, employment, youth and women: State FM

Uttar Pradesh Finance Minister Suresh Khanna on Thursday said that the state's budget for 2022-2023 would focus on infrastructure, employment generation, youth and women.Addressing the media, he said it's the first budget in the second innings of UP state government."We would try to fullfil our promises. The focus of this Budget is on the creation of infrastructure, generation of employment opportunities, youth and women. No new tax has been introduced," said Khanna.He also highlighted that "Our economic situation has been improving even during the pandemic."The first session of the 18th Uttar Pradesh Assembly in Lucknow elected members was held on May 23.Earlier, Chief Minister Yogi Adityanath on Monday had said that Uttar Pradesh budget for 2022-23 will be introduced on May 26.

Punjab government to present paperless budget, says CM Bhagwant Mann

Punjab Chief Minister Bhagwant Mann on Wednesday said his government will present a paperless budget which will save Rs 21 lakh of the state exchequer, besides saving 34 tonne of paper.

Railways without a separate budget

Recent neglect of the Indian Railways' finances is worrying and public policy debate on this must be revived

Aam Aadmi Party-led Delhi govt's surplus budget: Need for a closer look

Delhi, being a Union Territory, does not have the same ability as other states to raise debt. Delhi's debt comprises only loans from the central government

Railways eyes 1,700 mn tonnes freight in FY23, 15% beyond Budget estimates

Sharp uptick in freight demand seen mainly from core basket of commodities. Railways to acquire 90,000 wagons over the next three years, will push for track development with respect to DFCs

Biden's budget boosts military, raises taxes on billionaires, companies

Biden's plan also calls for increased spending on community policing, fighting gun crime, and investing in crime prevention, as well as added funding for affordable housing

Delhi govt presents Rs 75,800-cr budget; aims to create 2 mn jobs in 5 yrs

Chief Minister Arvind Kejriwal lauded his deputy for presenting a budget that has "taken care of" every section of the society

Delhi govt presents Rs 75,800 cr budget; aims to create 2 mn jobs in 5 yrs

Delhi Deputy Chief Minister Manish Sisodia on Saturday presented a Rs 75,800 crore budget in the Assembly for the financial year 2022-23.