Page 4 - Union Budget

Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023

Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs

Union Budget 2023-24: Funding for IIMs brought down to Rs 300 crore

The Indian Institutes of Management (IIMs), which are counted among the noted business schools in the country, have faced a budget cut this year with the Centre reducing their grant by half. The top institutes, however, believe that the move might hurt new IIMs but not the second or first generation IIMs. There are 20 IIMs across the country. In the budget for 2023-24 announced by Finance Minister Nirmala Sitharaman on Wednesday, the funding for IIMs has been brought down to Rs 300 crore from the previous fiscal year's Revised Estimate (RE) of Rs 608.23 crore, a 50.67 per cent drop, even when the net budget for the fiscal year 2023-24 rose by 8 per cent amounting to Rs 44,094 crores for the higher education sector. According to the Budget Estimates (BE) for 2022-23, the IIMs were allocated an amount of Rs 653.92 crores. According to IIM Udaipur Director Ashok Banerjee, the government might be sending signals to IIMs to be more innovative in funding their growth plans. "The cut in

Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST

Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future

Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation

The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26

Union Budget underscores role of digital, tech in development: Nasscom

Amid the growing fears of slowdown and global recession, the Union Budget is growth-oriented, boosting allocations across sectors, according to IT industry body Nasscom. The budget offers a playing ground for the startup community as well, and has highlighted that India is the third largest ecosystem for startups, Nasscom said in a statement. "Amidst the growing fear of slowdown and global recession, the Union Budget 2023 is growth-oriented and committed budget, that has boosted allocations across sectors," the IT industry association said. India is walking the talk on becoming a global digital economy, enhancing competitive advantage with focus and investments across key intervention areas. "Calling out the Indian economy as tech-driven, knowledge-based economy, the budget focuses on three key transformational trends that will help build India its competitive advantage - digital transformation, energy transformation, and supply chain resilience," said Nasscom, the apex body for th

Rebates to slabs: Budget's key changes in Income Tax regime explained

This move indicates that the old regime will slowly be wound up

Budget will lead India towards self-reliance: Byju's Divya Gokulnath

The co-founder of Byju's Divya Gokulnath has said the Union Budget 2023-24 will take the country to become a self-reliant economy. The Indian multinational education technology company co-founder said the push for infrastructure in the budget, which was presented by Union Finance Minister Nirmala Sitharaman on Wednesday, will create huge jobs and encourage investment in this sector. "The budget strengthens India's progress towards becoming a self-reliant economy. It also reinforces the government's commitment to making India a major player in the global economy," Gokulnath told PTI here. "The allocation of substantially more funds towards infrastructure development will create millions of jobs and encourage the private sector to invest more, she added. Speaking about the education sector, she said, "The budget proposals like teachers training and National Digital Library align with the NEP schools and by investing in cutting-edge digital infrastructure and nurturing an innovation .

Budget seeks to maintain balance between growth & deficit: Fitch Ratings

The Indian Budget for 2023-24 presented by Finance Minister Nirmala Sitharaman in Parliament seeks to maintain a balance of sustaining a growth focus and deficit reduction, said Jeremy Zook

Top headlines: Adani in crisis, India Inc to gain from Rs 10 trn infra push

Business Standard brings you the top headlines at this hour

Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?

Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy

A sedative till next LS polls: 'Saamana' editorial slams Union Budget

The column stated that after almost eight years, the Finance minister announced an increase in the limit of exemption in income tax

PM Modi's election Budget unlikely to delay RBI path to rate pause

The new tax rates are unlikely to add to inflationary pressures in the economy in the near-term, said economists including Nirmal Bang Institutional Equities Pvt.'s Teresa John

Union Budget provides roadmap for stability growth and development: USISPF

The Union Budget presented by Finance Minister Nirmala Sitharaman provides a roadmap for stability, growth and development, the head of an American non-profit business advocacy and strategic partnership group that is centred towards India said Wednesday. Mukesh Aghi, President and CEO of US India Strategic and Partnership Forum (USISPF) also said that the budget took into consideration the needs of all sectors of the economy, reflecting the Indian Government's commitment towards a prosperous and inclusive India. India's Union Budget 2023-24 provides a roadmap for stability, growth and development. The 7 priorities and the economic agenda paves way for India @100 giving a strong impetus to growth, job creation and stabilizing the macro economy amidst global headwinds," said Aghi. "The Union Budget 2023 has taken into consideration the needs of all sectors of the economy, reflecting the Indian Government's commitment towards a prosperous and inclusive India. Increased government ...

Union Budget instrument to push country into huge debt, says Sisodia

The Deputy Chief Minister of Delhi, Manish Sisodia, came down heavily on the Union Budget 2023-24, claiming that the Budget has been made only to benefit the super-rich in the country

Budget 2023 fails to address problems of unemployment, poverty: Opposition

As the country is scheduled to have Assembly polls in some states in 2023 as well as Lok Sabha elections in 2024, the Opposition did not miss the opportunity to termed the Budget as anti-poor

Budget is for welfare of every sector, every state: MP CM Chouhan

'New India rising under the leadership of PM Modi. My best wishes to PM Modi and FM Nirmala Sitharaman for the presentation of the Union Budget 2023'

Callous, betrayed hopes of vast majority, says P Chidambaram on Budget

Chidambaram mentioned that both the Capital Expenditure and the Effective Capital Expenditure of the central government is lower than the Budget estimates

TMS Ep360: Budget for common man & corporates, Shankar Sharma, govt revenue

What does Budget 2023 have for the common man? How will Budget impact corporate India? What does Budget mean for markets & investors? Where does the rupee come from and where does it go? Answers here

Budget aims to fix 'nuts and bolts' of state machinery

The government clearly wants everyone to file income tax returns so that the people with unaccounted wealth do not use the low income individual as a shield for their unaccounted wealth

We are in the midst of capex 'mahotsav'

The finance minister has once again done a stellar job of supporting growth whilst maintaining fiscal pragmatism