FY23 Fiscal deficit revised to 6.4% of GDP
Disclosing that the revised fiscal deficit for the current fiscal year is at 6.4% of GDP, Sitharaman said the FY-2024 fiscal deficit target has been fixed at 5.9% of GDP. I reiterate my intention to bring the fiscal deficit below...
No income tax till Rs 7 lakh in new IT plan
Nirmala Sitharaman announced that there will be no income tax on income up to Rs 7 lakh, up from Rs 5 lakh currently, under the new tax...
Bad news for smokers, custom duty hiked
I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21% to 13%. As a result, there are minor changes in the basic custom duties, cesses and surcharges on some items,...
100 labs for apps using 5G to be set up
100 labs for developing apps using 5G services will be set up in engineering institutions. To realise the new range of opportunities, business models and employment potential, labs will cover among others, apps like Smart Classrooms, Precision Farming, Intelligent Transports...
National Data Governance Policy on anvil
Government to bring National Data Governance Policy, Sitharaman announced. The National Data Governance Policy will enable anonymised data; and the KYC process will be simplified by adopting risk-based system, she added, and that one stop solution for reconciliation and...
Regional air connectivity gets a boost
50 additional airports, helipods, water aero drones, advanced landing grounds will be revived to improve regional air connectivity, said Sitharaman. She also said that for business establishments required to have a Permanent Account Number, PAN will be used as a...
Capital investment outlay upped by 33%
Capital investment outlay is being increased by 33% to Rs 10 lakh crores, which would be 3.3% of the GDP, said Sitharaman. 50-year interest free loan to state governments extended for one more year. 157 new nursing colleges will be...
Bye bye sewers in 100 cities
All cities and towns will be enabled for 100 pc transition of sewers and septic tanks from manhole to machine hole mode, said Sitharaman. 100 critical transport infrastructure projects have been identified for implementation, and states and cities will be...
Highlights: “1st Amrit Kaal Budget, world sees India as bright star”, says N Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman, presenting Union Budget 2023-24 in Parliament, said it focuses on seven priorities, which she called the “Saptrishis guiding us through Amrit Kaal”. These are: Inclusive development, reaching the last mile, infrastructure and investment, unleashing...
3 centres of excellence in AI to be set up
3 centres of excellence in artificial intelligence to be set up in leading educational institutions in the country, said...
Rs 15000 cr for tribal group development mission
To improve the social-economic condition of the Particularly Tribal Groups, PMPBTG development mission will be launched, to saturate PBTG habitations with basic facilities. Rs 15,000 cr to be made available to implement scheme in next 3 years, says Sitharaman. Eklavya Model...
Railway-related stocks in limelight ahead of Budget
Shares of railway-related companies, including Rail Vikas Nigam Ltd and IRCON International, witnessed an up-trend on Wednesday, ahead of the Union Budget presentation in Parliament. Market experts believe that shares of railway-related companies are in the focus as Dalal Street...
Shares of Adani Group companies see more sell-off
Shares of Adani Group firms fell on Wednesday. However, the key market indices opened with gains as investors' sentiments were boosted over Union Budget expectations. On Wednesday morning, shares of Adani Enterprises, the flagship firm of the group, fell...
India’s per capita income at Rs 1.97lakh: Sitharaman
India's per capita income has increased to Rs 1.97 lakh, Sitharaman said in her speech. Government's efforts since 2014 have ensured better quality of life for citizens of the country, she said. We have made significant progress in many Sustainable...
Sitharaman lists 7 priorities for Budget
Sitharaman spoke of the 7 priorities for Budget, which act as Sapt Rishis in the Amrit Kaal. They are, she said, inclusive development, infrastructure and investment, unleashing potential, green growth, youth power, financial...
Cabinet approves Union Budget 2023-24
The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved the Budget for the fiscal year 2023-24 (April 2023 to March 2024), sources said. Following this, Finance Minister Nirmala Sitharaman will present the Budget in the Lok...
