Tag: budget news

Budget 2023 | Silver to get costlier as govt. raises basic customs duty to 10%

February 1, 2023 admin

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…

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Budget 2023 | Changes in allocation for key schemes including MGNREGS, PM-Kisan, Ayushman Bharat

February 1, 2023 admin

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…

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Budget 2023 | Panel to examine Scheduled Caste status for Dalit converts allocated ₹3.05 crore

February 1, 2023 admin

Union Finance Minister Nirmala Sitharaman speaks during a post-budget press conference, in New Delhi on Wednesday, February 1, 2023. | Photo Credit: PTI After having to make do with funds from the Social Justice Ministry’s contingency Budget for the first four months of its functioning, the Commission of Inquiry to examine whether SC status can…

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Budget 2023 | Major thrust planned for green energy

February 1, 2023 admin

Clean green hydrogen energy generation. | Photo Credit: Getty Images/iStockphoto Underlining a commitment to accelerate the Indian economy’s transition to one powered by green energy, Union Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday mentioned a slew of schemes aimed at promoting clean energy and sustainable living. Green energy was among the ‘Saptarishi’…

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Budget 2023 | Department of Space gets ₹12,500 crore, 8% less than previous year

February 1, 2023 admin

The biggest cut is for space technology, under ‘Central Sector Schemes’, of ₹1,093.84 crore. The Department of Space expenditure has been slashed by 8% in the 2023-24 Union Budget, down to ₹12,543.91 crore, from ₹13,700 crore in the previous Budget estimate. However this is 19% higher than the revised estimate from the last fiscal. The…

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Budget 2023 | MGNREGS fund cut by 33% to 60,000 crore

February 1, 2023 admin

The Congress general secretary for communications and former Rural Development Minister Jairam Ramesh also expressed dismay at the sharp cut. Image for representation purpose only. | Photo Credit: K.K. Mustafah In line with the recent trend of slashing the budget of its flagship rural jobs scheme, the Union Budget allocated only ₹60,000 crore for the…

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Budget will lay strong base to build a developed India: PM

February 1, 2023 admin

Prime Minister Narendra Modi addressed the media at Parliament House on the first day of the Union Budget session of Parliament | Photo Credit: Shiv Kumar Pushpakar Prime Minister Narendra Modi on February 1 termed the Union Budget as the “first budget of Amrit Kaal” (the 25-year period between the 75th year of independence and…

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Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap

February 1, 2023 admin

Union Finance Minister Nirmala Sitharaman presents the Union Budget 2023-24 | Photo Credit: PTI The government plans to borrow a record ₹15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy. This is higher than the total borrowing of ₹14.21 lakh crore for the current financial year…

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