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Finance Minister Nirmala Sitharaman holding the Budget Papers at the North Block in New Delhi on February 01, 2023. | Photo Credit: R.V. Moorthy Finance Minister Nirmala Sitharaman on February 1 raised the personal income tax rebate limit, doled out sops on small savings, and announced one of the biggest hikes in capital spending in…
An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs in rural areas, said Finance Minister Nirmala Sitharaman, during the presentation of the Union budget 2023-24. The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural…
Read More “Accelerator fund will drive agriculture towards innovation, optimisation of resources” »
It was encouraging that the Finance Minister today opened the Union Budget speech by talking about India’s economic growth, which is expected to be at 7%, the highest among the major economies. It was reassuring as across the world, there are several nations standing at the brink of a slowdown. India’s success in managing the…
Read More “Budget 2023 | Towards a healthier India: Preetha Reddy” »
V. Nagappan, president of the Hindustan Chamber of Commerce, said the proposal to extend the revamped credit guarantee scheme for the micro, small and medium enterprises and relief to the pandemic-affected units in the Union Budget 2023-24 is in the right direction. “Reduction of 1% interest for the MSMEs will further boost their growth and…
Read More “T.N. industrialists say Union Budget is aimed at growth” »
If budget making is a complex task, interpreting the Union Budget can be hazardous given the amount of fine print that one has to pore over. Finance Minister Nirmala Sitharaman’s fifth Budget, and the current Bharatiya Janata Party-led government’s final full-fledged one before next year’s general election, ticks all the right boxes on the face…
Read More “A raft of concessions amid consolidation: The Hindu Editorial on Union Budget 2023-24” »
Finance Minister Nirmala Sitharaman at a press conference in Delhi, after the Budget | Photo Credit: ANI The much-anticipated Budget for 2023-24 has been presented. The Budget speech began with a self-congratulatory note: that India has successfully overcome the troubles that came with the COVID-19 pandemic, to a large extent, by ensuring the free food…
Read More “The growth deceleration problem cannot be skipped” »
A farmer spreads fertilizer in a field, at a village in Madurai. | Photo Credit: PTI Globally, there is a twin crisis in agriculture: in food and in fertilizers. On the one hand, there are fears of a fall in the global production and availability of food. The rise in food inflation has been an…
Construction of the Coastal Road Project in Mumbai. | Photo Credit: PTI The Budget comes at a time when the government faces a delicate balancing act between expenditure priorities and the need for fiscal prudence as it is the last full Budget before the general elections. From a macroeconomic standpoint, two areas were of concern:…
Read More “A balance between capital outlays and fiscal prudence” »
‘The Finance Minister has continued the trend of making a greater allocation to infrastructure spending’ | Photo Credit: ANI The Economic Survey that was placed in Parliament before the presentation of the Budget for 2023-24 has laid emphasis on the point that India has staged a remarkable broad-based recovery to reach the level of income…
Illustration: Satheesh Vellinezhi With the global economy adrift, Finance Minister Nirmala Sitharaman sought to carve out an ark for India in her fifth Union Budget by trying to nudge domestic consumption and reluctant private investments upwards, while also seeking to create a feel-good factor among specific segments of voters as the government gears up for…
Read More “Pollticks: Jobs get highest mention in last Budget before elections” »