In a bid to soothe several votebanks before the 2024 polls, the FM promises tax relief for the salaried middle class, schemes for artisans and tribal groups, sops for women and MSMEs, and jobs for youth.
The Board of Adani Enterprises Ltd., (AEL) decided not to go ahead with the fully subscribed Follow-on Public Offer (FPO), the company announced on Februray 1.
Giving a huge boost to affordable housing, the Union Budget presented on February 1 increased the allocation for the PM Awas Yojana (PMAY) by 66%. Finance Minister Nirmala Sitharaman also announced an Urban Infrastructure Development Fund (UIDF) which will be used to create urban infrastructure in Tier 2 and Tier 3 cities.
The Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on Wednesday allocated ₹5.94 lakh crore for the Defence Ministry, a 13% increase year-on-year from last year’s budget estimates.
The U.K. government on Wednesday, February 1, 2023, defended the independence of the BBC, and the relationship the U.K. had with India, after supporters of Prime Minister Narendra Modi and the Modi government in India and the U.K. raised strong objections to a BBC documentary that was deeply critical of Mr. Modi’s relationship with India’s Muslims and Mr. Modi’s role in the 2002 Gujarat riots.
With an eye on promoting exports, boosting domestic manufacturing and enhancing value addition, Union Budget 2023-24 has proposed number of changes to Customs Duty regime that is likely to make mobile phones and televisions cheaper and certain class of automobiles, including EVs, as well as toys and bicycles dearer.
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.
The Budget, the last full one before the General Elections of 2024, shows that the core constituency of the BJP, the middle class, especially the neo middle class, has been addressed, after years of pro-poor policies and programmes as the BJP sought to improve its political footprint.
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 amount provided in 2013-2014.
The Government proposes to set up 100 labs for developing applications using 5G services in various engineering institutions across the country. Three Centres of Excellence for AI will also be set up.
The Union Budget for 2023-24 is “callous” and has betrayed the hopes of a vast majority of Indians, former Finance Minister P. Chidambaram said on Wednesday while putting forward the Congress party’s response to the last full Budget of the Narendra Modi government before the 2024 Lok Sabha polls.
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, presented by Finance Minister Nirmala Sitharaman here on Wednesday, announced a number of measures for the agriculture sector, including an increase in the credit target to ₹20 lakh crore, with focus on animal husbandry, dairy and fisheries.
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 government, are required to deduct 1% TDS from users when the latter withdraw their winnings and deposits.
Union Budget 2023-24 is a bold step towards envisioning a prosperous and inclusive India. One of the key pillars of the Indian economy remains agriculture. And the Budget has provided a much-needed boost to agriculture and allied sectors.