“The room for manoeuvre, to live on borrowed money or time, does not exist anymore,” he underlined in his Budget speech
The Union government has been rapidly reducing its fiscal deficit target after it ballooned to 9.2 percent in 2020-21 due to the coronavirus pandemic.
The government will end up spending 3.4 percent of the Budget on capex compared to 3.2 percent in the previous year and almost double what it spent five years ago.
The entire food subsidy bill is set to be spent on the Pradhan Mantri Garib Kalyan Anna Yojana, which was extended by five years by the Union Cabinet in November 2023 at a total cost of nearly Rs 12 lakh crore.
Out of gross market borrowing estimated for FY25, Rs 7.50 lakh crore (53.08 percent) is planned to be borrowed in the first half (H1) through dated securities, including Rs 12,000 crore through issuance of Sovereign Green Bonds.
Vaibhav Porwal, Co-founder, Dezerv says he expects populist measures from Budget and expects the government to maintain its commitment to fiscal consolidation
Ratings agency ICRA says marketing margins on retail sales of petrol and diesel for the Indian oil marketing companies have improved in the recent weeks with reduction in crude prices
Economic Survey is an annual report, which is prepared by the Economics Division of the Department of Economic Affairs under the Ministry of Finance, that provides an overview of the Indian economy in the financial year that is coming to a close.
New tax regime has been made very attractive, said Sitharaman
At 3.3 per cent of the GDP, the enhancement in capex outlay for the third year in the running is expected a have a huge multiplier effect on the economy.
Union Budget 2023 Live Speech: FM Nirmala Sitharaman made multiple announcements including the setting up of additional airports, priority capital for energy transition, setting up of Artificial Intelligence centres, simplification of KYC by using PAN card as common ID, and more.
Economic Survey 2023: EPFO payroll has also seen a steady net addition, with the majority share coming from the youth.
Economic Survey 2023: India's recovery from the pandemic was relatively quick, growth next fiscal to be supported by solid domestic demand, pick up in capital investment, states the document
Two out of three respondents want Finance Minister Nirmala Sitharaman to raise tax deduction limit under 80C in the upcoming Union Budget, finds a survey by Mumbai-based financial planning start-up Kuvera
Addressing an event organised by industry body FICCI, Gadkari said the central government is aiming to boost growth and employment to achieve sustainable development.
According to report of the National Crime Control Bureau (NCRB), FICN with the face value of Rs 245.33 crore has been seized by the law enforcement agencies across the country since 2016 — the year the Centre demonetised Rs 1,000 and Rs 500 notes
Das said the international economic order stands challenged and financial markets are in turmoil due to monetary tightening in most parts of the world
World Health Organisation (WHO) as well as many other international bodies like World Bank that tobacco taxation is an efficient tool, reducing tobacco consumption faster than any other single measure
The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come
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