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The Indian economy is going through a rough patch as was evident from the recently released provisional estimates of its Gross Domestic Product (GDP). The underlying growth rate is lower than what was expected and estimated by the government earlier. What is surprising is that, as noted in the last Economic Survey, this slowdown is…
Read More “How can the Budget arrest growth decline? | Explained” »
The Union Budget and Railway Budget were presented separately until 2017 when the government ended the 92-year-old practice and merged them. Arun Jaitley presented the first combined Budget for the fiscal year 2017-18, and since then the practice has become a norm. Finance Minister Nirmala Sitharaman will table her eighth Union Budget on February 1 for the fiscal…
Read More “What Led To The Merger Of Railway And Union Budget In 2017” »
The Union Budget is traditionally presented by the Finance Minister in the Lok Sabha every year, as mandated under Article 112 of the Constitution. But there have been occasions when the Prime Minister had to step in and table the Budget. The first time this happened was in 1958 when Jawaharlal Nehru presented the Budget, making…
Read More “When The Prime Minister Not The Finance Minister Presented The Budget” »
Union Finance Minister Nirmala Sitharaman | Photo Credit: PTI Finance Minister Nirmala Sitharaman will present the Union Budget for the upcoming year on Saturday, February 1, 2025. The first part of the Budget session will begin on January 31 and conclude on February 13, 2025. The second part will begin on March 10 and end…
As Finance Minister Nirmala Sitharaman prepares to present her eighth consecutive Union Budget, the process remains shrouded in secrecy. The Budget-making process involves the Finance Minister and high-ranking officials working in isolation, with strict measures like mobile phone bans. Ministries, states, Union Territories, and various departments are tasked with preparing estimates, and only after approval…
Read More “When Union Budget Was Leaked And Led To Big Change In Printing Process” »
Ahead of the Union Budget 2025, the Institute of Chartered Accountants of India (ICAI) has proposed the introduction of joint taxation for married couples. Under joint taxation, a married couple would be treated as a single taxable unit, allowing them to combine their incomes when filing tax returns, similar to systems already in place in…
Read More “ICAI Proposes Joint Tax Filing, How Married Couples Will Benefit From It” »
The ceremony is a customary ritual in which traditional dessert ‘halwa’ is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the budget. File | Photo Credit: ANI Finance Minister Nirmala Sitharaman on Friday (January 24, 2025) participated in a traditional ‘halwa’ ceremony, marking the…
Jairam Ramesh | Photo Credit: SUSHIL KUMAR VERMA Unemployment and inflation resulting from the “wrong policies” of the Narendra Modi government had made life extremely difficult for lower and middle-class families, and the country now needed a budget that provided relief from rising prices, the Congress said on Thursday (January 23, 2025). Finance Minister Nirmala…
Read More “Budget should provide relief from rising prices, says Congress” »
The NDA 3.0 government must use its enormous political capital to implement ‘politically difficult’ structural reforms in the upcoming budget to promote growth and job creation, former RBI Governor D. Subbarao said on Thursday (January 23, 2025). The Union Budget for 2025-26, to be presented by Finance Minister Nirmala Sitharaman on February 1, comes amid…
The Union Budget holds immense significance in the country’s economic framework, with its roots tracing back to the colonial era. This document outlines the government’s finances, including revenues, expenditures and fiscal policies. Over the years, the Budget has evolved significantly, adapting to the changing economic landscape of the nation. The upcoming Union Budget for 2025-26…