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A brilliant balancing act is how I will describe the Union Budget proposals, moving forward on the path of fiscal consolidation while also delivering high growth and inclusion. The continued emphasis on capex-led growth strategy is a welcome move. Last year’s boost impacted the gross fixed capital formation (GFCF) positively, with the first advanced estimates…
Keki Mistry. Photo: Special Arrangement The Union Budget is one of the most anticipated annual events, where India has consistently embarked on numerous reforms bringing about structural changes. In my opinion, the Finance Minister this year rightly focussed on key factors that align with the larger vision of the government: boosting economic growth, employment generation,…
Read More “Budget 2023 | On the right course: A growth-oriented Budget: Keki Mistry” »
Chandrajit Banerjee. Photo: Special Arrangement The first Budget of the Amrit Kaal [golden age] made a visionary and bold statement for bolstering the near-term and medium-term growth potential of the economy. The Finance Minister deserves compliments for delivering a sagacious Budget which had the right ingredients for strengthening the domestic demand drivers in the near…
Read More “Budget 2023 | Building Resilience and Boosting Growth: Chandrajit Banerjee” »
The Indian medical devices industry has the potential to reach $50 billion by 2030, the Minister of Health and Family Welfare, Mansukh Mandaviya, had said in 2022. File | Photo Credit: PTI The Indian medical devices industry has expressed disappointment over what they believe is a tokenistic 2023-24 Budget announcement of plans for skilling human resources…
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Union Finance Minister Nirmala Sitharaman addressing a post budget press conference in New Delhi on February 01, 2023. | Photo Credit: ANI The allocations to the Labour Ministry and its social security schemes saw a decrease in the Budget and the trade unions alleged that Finance Minister Nirmala Sitharaman has not addressed the issue of…
Read More “Budget 2023 | Social security cuts irk trade unions” »
Kumar Mangalam Birla. Photo: Special Arrangement Union Budget 2023-24 is a bold step towards envisioning a prosperous and inclusive India. One of the key pillars of the Indian economy remains agriculture. And the Budget has provided a much-needed boost to agriculture and allied sectors. The proposed unique and innovative approaches will increase farmer incomes and…
Read More “Budget 2023 | Much-needed boost to agriculture, allied sectors: Kumar Mangalam Birla” »
Image for representation purpose only. | Photo Credit: Getty Images/iStockphoto Silver and silver jewellery will become expensive as the government on Wednesday announced increasing the basic customs duty on silver, both in dore and semi-manufactured form, to 10% in order to curb imports. Currently, the basic customs duty on silver dore is 6.1%, while on…
Read More “Budget 2023 | Silver to get costlier as govt. raises basic customs duty to 10%” »
Uttar Pradesh Chief Minister Yogi Adityanath. File | Photo Credit: PTI The Union Budget on Wednesday evoked mixed reactions in Uttar Pradesh. Chief Minister Yogi Adityanath hailed the Budget and described it as a Budget for ‘New India’ which aims to serve 130 crore people of the country. The Opposition parties criticised the Budget and…
Mobile phones will become cheaper as Finance Minister Nirmala Sitharaman announced a reduction in the import duty. | Photo Credit: PTI With an eye on promoting exports, boosting domestic manufacturing and enhancing value addition, Union Budget 2023-24 has proposed number of changes to Customs Duty regime that is likely to make mobile phones and televisions…
Finance Minister Nirmala Sitharaman on Wednesday, February 1, presented the last full budget of the Narendra Modi government before the 2024 general elections. The Minister announced a range of new initiatives, revised income tax slabs and customs duty, and sops for agriculture and energy transition. The Union Budget 2023-24 document also listed the new allocations…