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Bhutan, G20 summit among top recipients of grant in the Budget

February 1, 2023 admin

Bhutan has received the largest share of the amount that the Budget allocated for the Ministry of External Affairs (MEA) under “Grants and Loans to Foreign Governments”. The annual Budget presented by Finance Minister Nirmala Sitharaman showed India’s commitment to the people and continued humanitarian assistance to Afghanistan, which received ₹200 crore for the coming…

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Budget 2023 | Senior citizen scheme limit doubled to ₹30 lakh

February 1, 2023 admin

Finance Minister Nirmala Sitharaman proposed to double the deposit limit for Senior Citizen Savings Scheme to ₹30 lakh | Photo Credit: PTI Finance Minister Nirmala Sitharaman on Wednesday proposed to double the deposit limit for Senior Citizen Savings Scheme to ₹30 lakh and Monthly Income Account Scheme to ₹9 lakh. In her Budget Speech, the…

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Budget 2023 | PAN to be used as common identifier for digital systems

February 1, 2023 admin

PAN is a 10-digit alphanumeric number allotted by the income tax department to a person, firm or entity. File | Photo Credit: The Hindu Finance Minister Nirmala Sitharaman on Wednesday said Permanent Account Number (PAN) will be used for common identifier for all digital systems of specified government agencies. The move would help in further…

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Budget 2023 proposes amendments to turbocharge GIFT IFSC

February 1, 2023 admin

The Union Budget has proposed several measures to enhance business activities at Gujarat International Finance Tec-City – International Financial Services Centre (GIFT IFSC). These include delegating powers under the SEZ Act to the International Financial Services Centre Authority (IFSCA) to avoid dual regulation, setting up a single-window IT system for registration and approval from IFSCA, SEZ authorities,…

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Budget 2023 | Cluster-based approach for ELS cotton production

February 1, 2023 admin

Production of Extra Long Staple (ELS) cotton, which is largely imported now, is all set to get an impetus as the government proposes a cluster-based and value chain approach through public private partnerships. The Union Budget is looking at better collaboration between farmers, State, and industry for input supplies, extension services and market linkages to…

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Budget 2023 | Real money gaming industry welcomes TDS clarification

February 1, 2023 admin

Image for representation purpose only. | Photo Credit: Getty Images/iStockphoto The real money gaming industry — which runs games where users can stake money for winnings on apps — welcomed the Union Budget’s clarification on Tax Deducted at Source (TDS) for money won on their platforms. These platforms, referred to as “online gaming” by the…

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Budget 2023 | Finance Minister proposes amendments to banking laws

February 1, 2023 admin

Union Finance Minister Nirmala Sitharaman addressing a post budget press conference in New Delhi on February 01, 2023. | Photo Credit: ANI The Union Budget has proposed certain amendments to the Banking Regulation Act, the Banking Companies Act and the Reserve Bank of India Act to improve bank governance and enhance protection of investors. To build the…

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Budget 2023 | Cut in allocations to farm schemes, food subsidy draws flak

February 1, 2023 admin

Farmers carry cauliflowers from their field, on the day of tabling Union Budget 2023-24, in a village near Amritsar, on Wednesday, February 1, 2023. Image for representation purpose only. | Photo Credit: PTI The Union Budget, presented by Finance Minister Nirmala Sitharaman here on Wednesday, announced a number of measures for the agriculture sector, including…

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Budget 2023 | Railways gets outlay of ₹2.4 lakh crore

February 1, 2023 admin

A view of the production of Vande Bharat Coaches at Integral Coach Factory in Chennai. File | Photo Credit: R. Ragu With an outlay of ₹2.40 lakh crore for the financial year 2023-24 compared to ₹1.40 lakh crore in the FY22-23, Finance Minister Nirmala Sitharaman said that the outlay for the railways is nine times the…

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Himachal Pradesh, Punjab Chief Ministers criticise Union Budget 2023; Haryana CM hails it

February 1, 2023 admin

CM Sukhvinder Singh Sukhu said the Budget was contrary to the expectations of the common masses and Himachal Pradesh has been ignored in particular. File | Photo Credit: ANI The Union Budget 2023-24 proposals presented by Finance Minister Nirmala Sitharaman evoked sharp criticism from Chief Ministers of Himachal Pradesh and Punjab, even as the Haryana…

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