Page 10 - Indian Economy

Union Budget 2023-24: Aiming for paradoxical goals

Amish Mehta, MD & CEO, CRISIL, talks about Union Budget 2023

The macro-fiscal question

Budget reflects the limitations of a fiscally-strapped government. Increases in capital outlays have matched decreases in public sector capex

A people-centric proposition

The break from giving sops to industry and throwing money at the poor is welcome

A credible effort

The Budget makes all the right noises and avoids the temptation to be populist

Fiscally prudent, but electorally savvy

In 2022-23, the finance minister hopes to grow her net revenue receipts by 8 per cent even as her revenue expenditure would increase by a similar rate

Union Budget 2023-24: Building blocks of a future-ready India

The Budget has laid a strategic framework to make India future ready

Union Budget 2023-24 ready reckoner: A fiscally prudent approach

The Centre stuck with fiscal prudence, project­ing a decline in fiscal deficit to 5.9 per cent of GDP in FY24

Union Budget 2023-24: Visions of sense and sensibility

In a very difficult global scenario, India needs to grow by 6-6.5 per cent in real terms in 2023-24

Budget has neatly identified key priority areas, says Kaku Nakhate

Kaku Nakhate, President & India Country Head, Bank of America, talks about Union Budget 2023

Union Budget 2023: Govt allocates Rs 5.94 trillion to defence ministry

The defence budget was on Wednesday increased to Rs 5.94 lakh crore for 2023-24 in a modest hike of 13 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh and concerns over rising Chinese forays into the Indian Ocean Region. In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,62,600 crore was set aside to the military for capital expenditure that largely includes purchasing new weapons, aircraft, warships and other military hardware. For 2022-23, the budgetary allocation for capital outlay was Rs 1.52 lakh crore but the revised estimate showed the expenditure at Rs 1.50 lakh crore. The capital allocations of Rs 1,62,600 crore marked a hike of Rs 10,230 crore over last year's outlay and it is a 6.7 per cent increase. The capital budget of the Border Roads Organisation (BRO) has been increased to Rs 5,000 crore as against Rs 3,500 crore in 2022-23 which is a hike of 4

Budget: Govt to enhance presumptive taxation limit for MSMEs, professionals

The government on Wednesday proposed to enhance the limit for presumptive taxation for MSMEs and certain professionals provided their cash receipts are less than 5 per cent of the total turnover or gross receipts. The move is aimed at promoting non-cash transactions, as per the Budget document. The existing provisions of the Income Tax Act provide for a presumptive income scheme for small businesses and certain professionals. Micro enterprises with a turnover of up to Rs 2 crore and certain professionals with a turnover of up to Rs 50 lakh can avail of the benefit of presumptive taxation. In her Budget Speech in the Lok Sabha, Finance Minister Nirmala Sitharaman said MSMEs are growth engines of the Indian economy. "I propose to provide enhanced limits of Rs 3 crore and Rs 75 lakh respectively, to the tax payers whose cash receipts are no more than 5 per cent," she said. Moreover, to support MSMEs in timely receipt of payments, "I propose to allow deduction for expenditure incurred

Budget 2023 a roadmap for resurgent India; aims to get fiscal house in order

Budget 2023: This budget may galvanize an effective AI ecosystem necessary to nurture buoyancy in GST revenues and improve taxpayer morale and trust in the system

The Budget is highly pragmatic and growth oriented: PVR's Ajay Bijli

Ajay Bijli, Chairman and Managing Director, PVR Ltd, talks about Union Budget 2023

Budget 2023-24: Hospitality will benefit, says Massive Restaurants' Kalra

Zorawar Kalra, Founder & MD, Massive Restaurants, talks about Union Budge 2023

Budget 2023-24: Excited about the focus on tourism, says Paresh Maity

Indian painter Paresh Maity talks about the Union Budget 2023

New tax rates will raise purchasing power of middle class: Bandhan Bank CEO

The revision in income tax rates will increase the purchasing power of the middle class sections of the society, Bandhan Bank's Chief Executive Chandra Sekhar Ghosh said

Budget 2023 ticks all checkboxes; Adani group stocks played spoilsport

It is typical of markets to rally ahead of the budget proposals and see some profit taking once the measures are announced. This time, however, the Adani group stocks played spoilsport

Economic growth to slide to 7% in 2022-23: Fiscal policy statement

India's public digital infrastructure expansion is leading to accelerated financial inclusion for low-income households, micro and small businesses, and the economy's rapid formalisation

FM Nirmala Sitharaman presents Union Budget 2023

Finance Minister Nirmala Sitharaman presents Union Budget 2023. This is the last full Budget of this government before General Elections 2024

Understanding budget receipts and the role they play in govt finances

Capital receipts are non-recurring and either create a liability for the govt or deplete its assets; revenue receipts are recurring and do not entail any risk for the govt