Month: February 2024

Industry welcomes Centre’s plans to augment electric vehicle ecosystem

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Indian Bank Managing Director and CEO S.L. Jain says that the government’s focus on infrastructure, and support for EV manufacturing and charging infrastructure, aligns well with the nation’s developmental goals. | Photo Credit: Special Arrangement The Centre will focus on expanding and strengthening the electric vehicle ecosystem with supporting charging infrastructure in its move towards…

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Budget 2024 | Government to withdraw certain long-pending, un-reconciled direct tax demands

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Union Finance Minister Nirmala Sitharaman holding a folder-case containing the Interim Budget 2024. Ministers of State Bhagwat Kishanrao Karad and Pankaj Chaudhary are also seen. | Photo Credit: Shiv Kumar Pushpakar Whilst maintaining the status quo with respect to direct and indirect taxes, Finance Minister Nirmala Sitharaman in her maiden interim budget presentation proposed to…

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2024 Interim Budget | Government to consolidate the demand of three Services in defence allocation

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In a significant measure to bring jointness in the procurements of the armed forces, the Government has decided to consolidate the demand of the three services in the capital head of the defence budget based on similar items of expenditure such as land, aircraft and aeroengines, heavy and medium vehicles among others. In the interim…

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2024 Interim Budget | Fertilizer subsidy set to decline, food subsidy sees increase

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A farmer sprays fertiliser on his field in Vemulapally village near Miryalguda, Nalgonda District. File | Photo Credit: Nagara Gopal The Centre has decreased fertiliser subsidies, apparently hoping that the improving situation in Ukraine and increased domestic production will help in managing the situation. The Fertilisers and Chemicals Ministry has been claiming that the increase…

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Interim budget increases target for Lakhpati Didi scheme

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President Droupadi Murmu visits the stall during the Lakhpati Didi Sammelan, in Jaisalmer. File | Photo Credit: ANI Buoyed by its success, the Centre has decided to increase the target for ‘Lakhpati Didi’ scheme, which aims to train women’s self-help groups to earn a sustainable income of at least ₹one lakh per annum by setting…

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60% cut in allocation for regional air connectivity scheme in Interim Budget

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Flight take off at Chennai Airport. File | Photo Credit: B. Velankanni Raj The budgetary allocation for the regional connectivity scheme UDAN (Ude Desh Ka Aam Nagrik) has been slashed by 60% after a record-high grant last time. The fund is spent on reviving unused and underused airports in tier-2 and tier-3 cities. The government…

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Budget breakdown: Which sectors gained and lost in the Interim Budget | Data

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Budget breakdown: Union Finance Minister Nirmala Sithaman addresses the press conference after presenting the Union Interim Budget 2024 at Parliament, at the National Media Centre, in New Delhi on Thursday. | Photo Credit: ANI A sector-wise split of the budgeted expenditure in FY25 shows that of the 26 sectors for which data was analysed, allocation…

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