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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” »
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…
Read More “Bhutan, G20 summit among top recipients of grant in the Budget” »
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…
Read More “Budget 2023 | Senior citizen scheme limit doubled to ₹30 lakh” »
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…
Read More “Budget 2023 | PAN to be used as common identifier for digital systems” »
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,…
Read More “Budget 2023 proposes amendments to turbocharge GIFT IFSC” »
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…
Read More “Budget 2023 | Cluster-based approach for ELS cotton production” »