Page 29 - Finance Ministry

Union Budget 2022-2023: A strong and promising message

While retail inflation is for the moment within the Reserve Bank of India's target Range, the risk of a burst of inflation cannot be ignored

Union Budget 2022: Roads get lion's share of allocation in FY23

Investments in NHAI were more than doubled to Rs 1.34 trillion, against Rs 65,060 crore in the revised estimate for FY22

Budget 2022: Markets cheer thrust on capex; Sensex rises 848 points

From highs to lows, Sensex saw a movement of 1,294 points but managed to finish strong

Budget 2022: Here's what will get costlier and what will be cheaper

Imported cut and polished diamonds, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol and acetic acid will become cheaper as a result of rationalisation in customs duties

Budget 2022: Govt allocates Rs 3,050 crore to Ministry of Ayush

The Ministry of Ayush has received an allocation of Rs 3,050 in the Union Budget 2022-23, a slight increase of 2.69 per cent from 2021-22 when Rs 2,970 crore was earmarked for it.

Budget 2022: Equity investors become richer by about Rs 3 trillion

Equity investors became richer by more than Rs 2.99 lakh crore on Tuesday as the Union Budget was well received by the stock market. On the Budget Day, the 30-share BSE index jumped 848.40 points or 1.46 per cent to settle at 58,862.57. During the day, it gained 1,018.03 points to 59,032.20. It was merriment on the Dalal Street, as the market capitalisation of BSE-listed companies jumped by Rs 2,99,354.61 crore to Rs 2,67,40,561.79 crore. This is the second day of gain for the market and in two days investors' wealth has zoomed Rs 6,32,857.56 crore to reach Rs 2,67,40,561.79 crore. "The equity markets were cheerful on announcement of huge outlay of capital expenditure in overall infrastructure development. This Union Budget will also lay the foundation for economic growth through public investments as India emerges from a pandemic induced slump. "Hardly any tinkering with tax & avoiding populist measures was also received well by the market participants," said Devang Mehta, Head

Budget 2022: Consumer electronics players lament no reduction in GST

Consumer electronics manufacturers were left disappointed on Tuesday as there was no concession or GST rationalisation on smart TVs and other products in the Union Budget 2022-23.

Budget 2022: Govt allocates Rs 1.85 trillion to Home Ministry

Reflecting the Modi government's priority to internal security, the Union Budget on Tuesday allocated Rs 1.85 trn to the Ministry of Home Affairs

Budget 2022: Wait for Indian masses to use 5G smartphones gets longer

India is yet to use the 5G technology and the wait only got longer with Finance Minister Nirmala Sitharaman announcing on Tuesday that mobile services for the masses will be available in 2023.

People will reject this 'capitalist Budget', says P Chidambaram

The "capitalist" Union Budget 2022-23 is "obdurate" and "callous" as there is no cash assistance to the very poor, former Union Finance Minister P. Chidambaram said on Tuesday.

Budget 2022: Govt allocates Rs 86,189 crore to Jal Shakti ministry

The Jal Shakti Ministry has been allocated Rs 86,189 crore in the Union Budget 2022-23, an increase of 24 per cent from Rs 69,052 crore given in 2021-22.

IndiGo terms Budget 2022 as growth-oriented, expects duty cut on jet fuel

Budget carrier IndiGo termed the Union Budget 2022-23 as "growth-oriented" while expecting a cut in the excise duty on jet fuel.

Budget 2022: WCD ministry allocated Rs 25,172 crore, rise of just 3%

The budget allocated to the Women and Child Development Ministry stood at Rs 25,172.28 crore in 2022-23, a slight increase of 3 per cent from Rs 24,435 crore that was given in 2021-22. Presenting the Budget for 2022-23, Finance Minister Nirmala Sitharaman said recognising the importance of 'Nari Shakti' as the harbinger of India's bright future and for women-led development during the 'Amrit Kaal', the government has comprehensively revamped the schemes of the Ministry of Women & Child Development. Accordingly, Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 were launched recently to provide integrated benefits to women and children. The budget allocated for Saksham Anganwadi and POSHAN 2.0 (Umbrella ICDS - Anganwadi Services, Poshan Abhiyan, Scheme for Adolescent Girls) was Rs 20,263 crore, a small increase from Rs 20,105 crore in 2021-22. The budget allocated for Mission Shakti (Mission for Protection and Empowerment for Women) was Rs 3,184 crore in 2022-23, ..

Budget 2022: Massive capex push buoys infra, cement, steel stocks

A strong capital expenditure announced in Union Budget FY23 coupled with renewed focus on the affordable housing segment have led to a sharp jump in share prices of companies associated with infra

Union Budget aims to make India atmanirbhar, strong: Devendra Fadnavis

Maharashtra BJP leader Devendra Fadnavis on Tuesday said the Union budget aims to make India "atmanirbhar" (self-reliant) and "balashali" (strong).

Budget 2022: India catches up with global fad of digital currency

Crypto or digital currencies are the latest fad across the world and India will next fiscal, beginning April 1, have its own version of the same

Budget 2022: Realty stocks jump up to 6% as govt's FY23 capex hiked by 35%

Shares of real estate companies on Tuesday jumped up to 6 per cent after Finance Minister Nirmala Sitharaman announced allocation of whopping Rs 48,000 crore for completion of 80 lakh houses

Govt expects 27% lower dividend at Rs 74,000 cr from RBI and banks in FY'23

The government is expecting a 27 per cent lower dividend at Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions in 2022-23. In absolute term, this is nearly 27,400 crore lower than the Revised Estimates (RE) of Rs 1,01,353 crore under the head of dividend or surplus of Reserve Bank, nationalised banks & financial institutions during the current fiscal. During the current financial year alone, the RBI has paid a dividend of Rs 99,122 crore. This dividend payout was for the financial year 2020-21 paid in May last year. As per the Budget document, dividends from public sector enterprises and other investments have also been pegged lower at Rs 40,000 crore as against RE of Rs 46,000 crore. Total dividend collection of the next financial year would be Rs 1,31,948 crore as against the RE of Rs 1,68,247 crore, as per the RE of 2021-22.

Budget 2022 to promote modern infrastructure in country, says Nitin Gadkari

Union Minister Nitin Gadkari on Tuesday hailed the Union Budget presented in the Parliament on Tuesday and said that this budget will promote modern infrastructure in the country."The budget presented by the Finance Minister Mrs @nsitharaman under the guidance of @narendramodi is a budget to promote modern infrastructure in the country, which will lay the foundation for a new India and improve the lives of 130 crore Indians. #AtmaNirbharBharatKaBudget," tweeted the Union Minister.Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presented the Union Budget in Parliament today.In her address, she said that India's economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies. "The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country's strong resilience," she said."PM Gati Shakti Master Plan for Expressways to be formulated in 2022-23, to facilitate faster ...

Budget 2022: Ken-Betwa river link to be completed with Rs 44,605 crore

The implementation of Ken-Betwa rivers linking at an estimated cost of Rs 44,605 crore will be taken up, Finance Minister Nirmala Sitharaman said on Tuesday.