Month: February 2024

Honourable mention for bioeconomy in Interim Budget, with trillion-dollar potential in mind

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Union Finance Minister Nirmala Sitharaman addresses the post-Budget press conference, in New Delhi, Thursday, Feb. 1, 2024. | Photo Credit: PTI In her speech for the 2024-2025 Budget, Finance Minister Nirmala Sitharaman spoke of “a new scheme of bio-manufacturing and bio-foundry” to provide “environment-friendly alternatives such as biodegradable polymers, bio-plastics, bio-pharmaceuticals and bio-agri-inputs”. The announcement…

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Science

Committee will study ‘fast population growth’ and demographic changes: Nirmala Sitharaman

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Finance Minister Nirmala Sitharaman’s announcement comes against the backdrop of an indefinitely postponed Census, which means that there is little reliable data to back up her assertion of “fast” population growth in the country. Interim Budget 2024 A high powered committee will be constituted to consider the challenges arising from “fast population growth and demographic…

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Business

Budget 2024 | One crore households to get 300 units free electricity every month through rooftop solarisation

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Watch | One crore households to get 300 units free electricity every month through rooftop solarisation Taking cue from Prime Minister Narendra Modi’s assurance following the Ayodhya temple consecration that one crore households will be electrified via rooftop solar installations, Union Finance Minister Nirmala Sitharaman in her Interim Budget 2024-25, reiterated that commitment. “Through rooftop…

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Business

Budget 2024: Textile Industry: Textile industry expresses disappointment

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The textile and apparel industry, while welcoming extension of the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for two years, has expressed disappointment over unchanged Import Duties. Cotton Textiles Export Promotion Council chairman Sunil Patwari said continuation of the RoSCTL was essential for the long-term trade planning. Orders could be placed in…

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Business

Budget 2024: PM Poshan, Samagra Shiksha allocations much lower than pre-pandemic years | Data

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Education scheme budget: Students in a classroom in Radhakrishnapur High School which uses innovative means for the upliftment of their students. | Photo Credit: DEBASISH BHADURI In FY25, the government is expected to spend ₹73,008 crore on school education. The allocation marginally increased by ₹534 crore, when compared with the revised estimates for the year…

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Business

2024 Interim Budget | Marginal rise in allocations for farming, fisheries

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Watch | Marginal increase in allocations to agriculture, fisheries, and animal husbandry Maintaining that the ‘annadata’s’ welfare is the highest priority of the Centre, Union Finance Minister Nirmala Sitharaman said in her Budget that farmers’ empowerment and well-being will drive the country forward. The allocation for the Agriculture Ministry is ₹1,17,528.79 crore, an increase of…

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Business

Key takeaways from interim Budget 2024-25 in charts

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India’s Finance Minister Nirmala Sitharaman during the Vibrant Gujarat Global Summit in Gandhinagar, Gujarat, India, on Thursday, Jan. 11, 2024.  | Photo Credit: Bloomberg The Finance Minister presented her sixth budget today. Her announcements ranged from railways, tourism, healthcare, technology, aviation, green energy, aquaculture, housing, and more. With regards to taxation, no changes were announced to…

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Business

Budget 2024: Spending on rural development increases marginally, but not all schemes benefit | Data

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Rural development schemes: Workers engaged in the MNREGS works at Siddharampuram in Anantapur district. | Photo Credit: Prasad RVS In FY25, the government is expected to spend ₹2,65,808 crore on rural development. The allocation marginally increased by ₹26,824 crore, when compared with the revised estimates for the year FY24. However, the increase in the overall…

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Business