Union Finance Minister Nirmala Sitharaman's claims in her Union Budget speech on Wednesday that the government is projected to face a Rs 30,000 crore revenue loss because of proposed tax rebates will just be notional, economic experts said.
Category: telecom
Govt steers clear of a populist Budget in pre-election year
The government has steered clear of a populist Budget in what is the last full Budget before the general elections scheduled next year, analysts said on Wednesday.
Cigarettes set to become costlier as Budget proposes 16% hike in duty
Cigarettes are set to become costlier as the National Calamity Contingent Duty (NCCD) on specified cigarettes has been revised in the Union Budget 2023-24.
Union Budget '23-24: Highest share of Centre's income comes from borrowings and other liabilities, GST
Union Finance Minister Nirmala Sitharaman presented the Union Budget (2023-24) on Wednesday, which was her fifth consecutive budget and the last full budget in this government's tenure.
Budget focusses on women empowerment, green growth: Sitharaman
Finance Minister Nirmala Sitharaman on Wednesday said that the focus of the Union Budget 2023-24 is on women empowerment, green growth and artisans as well as the tourism sector.
CAPF gets lion's share from Home Ministry's Budget of Rs 1.96 lakh cr
The Central Armed Police Forces (CAPF) has got the lion's share from Rs 1.96 lakh crore allotted to the Ministry of Home Affairs (MHA) in the Union budget 2023-24, which was presented on Wednesday.
Northeastern region to gain substantially from Budget: CII
The Confederation of Indian Industry (CII) on Wednesday said that the northeastern region is set to gain substantially from the Budget 2023-24 presented in the Parliament by Union Finance Minister Nirmala Sitharaman.
Budget strengthens fundamental pillars of inclusivity, sustainability: FICCI
The Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday said the Budget 2023-24 presented by Union Finance Minister Nirmala Sitharaman will strengthen the fundamental pillars and ensure resilience, inclusivity and sustainability.
Union Budget 2023-24: Domestic manufacturing gets push, customs duty on kitchen chimney, toys hiked
With aim to promote domestic manufacturing, Union Finance Minister Niramala Sitharaman, in Budget 2023-24, provided relief in customs duty on import of certain parts and inputs like camera lens and lithium-ion cells for batteries for mobile phones for another year.
From 'Bahubali' Budget to 'disappointing' one - here's how industry reacted to Budget 23-24
While the devil may be hiding in the details, the response of various industry officials to FY24 Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday was largely positive.
Mumbai: India Inc. smiles, honchos hail Sitharaman's budget
Tata Capital Ltd. MD & CEO Rajiv Sabharwal said that the Budget includes several measures for inclusive socio-economic development, its 7 priorities plus a greater sector in the financial sector and infrastructure and investment are steps in the right direction.
Prime Minister describes Budget 2023-24 as 'first of Amrit Kaal'
Prime Minister Narendra Modi on Wednesday described the Union Budget as the "first Budget of Amrit Kaal" (the 25-year period from 2022 till 2047, when the country will celebrate 100 years of Independence), which would lay a strong foundation for a developed India.
Life insurance stocks fall up to 10% after Budget pushes for new tax regime
On BSE, LIC was down more than 8 per cent, HDFC Life was down more than 10 per cent, Max Financial was down more than 9 per cent, SBI Life Insurance was down more than 9 per cent while ICICI Prudential Life Insurance was down more than 10 per cent.
'Budget 2023-24 a revolutionary package': K'taka Minister Murugesh Nirani
Nirani said that the announcement in the Union Budget to enhance the export competitiveness of marine products, particularly shrimps, by reducing duty on key inputs for domestic manufacture of shrimp feed will contribute to the growth of marine exports from Karnataka.
DigiLocker services for MSMEs, large businesses, charitable trusts soon
A one stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity, said the government.
Budget allocation for food & public distribution department cut by 30%
According to the Budget presented by Finance Minister Nirmala Sitharaman on Wednesday, the budgetary estimate for 2023-24 is Rs 2,05,513 crore, which is 30 per cent less than the revised estimate of Rs 2,96,303 crore for 2022-23.
Budget blow to HNIs claiming huge deductions for expensive houses
For better targeting of tax concessions and exemptions, Finance Minister Nirmala Sitharaman capped deduction from capital gains on investment in residential houses under sections 54 and 54F to Rs 10 crore.
Union budget: Appointment of 38,800 teachers, training for 47L youths announced
The Centre will appoint 38,800 teachers and staff for 740 Eklavya Model Schools, Union Finance Minister Nirmala Sitharaman announced this while presenting the Union budget in Parliament on Wednesday.
New tax regime may not be necessarily beneficial for all taxpayers: Experts
Preeti Sharma, Partner, Tax and Regulatory Services, BDO India, said that Finance Minister Nirmala Sitharaman has made conscious efforts to make the NTR more attractive for the taxpayers.
Healthcare players call Budget forward-looking
As part of healthcare skill development, the Finance Minister proposed 157 new nursing colleges and novel skill development courses for medical equipment and device manufacturing and innovation.
Centre to clarify taxation on online gaming, proposes removal of minimum TDS
In good news for online gamers, the government on Wednesday proposed to remove the minimum threshold for TDS and clarify taxability relating to online gaming.
Budget 2023-24: 'A growth budget focussed on good harvest'
"Overall, investment in resources and modern technology in these domains will surely contribute in the formation of long-term growth that will give greater results in the coming years," Soundararajan said.
Budget cuts MGNREGA allocation by 30% to Rs 61,032 crore for 2023-24
It is the second straight cut in the scheme's budgetary allocation, as in the 2022-23 budget also, the MGNREGA's budgetary allocation had been cut by 25 per cent to Rs 73,000 crore from the revised estimate of Rs 98,000 crore.
No great sheen for gold in budget
While the Centre has given a digital boost for the gold sector, in terms of tax relief there is nothing for the sector, said an official of World Gold Council's Indian Chapter.
Budget balanced, likely to boost demand in housing sector: Realty industry
Navin M. Raheja, Chairman and Managing Director of Raheja Developers, said that the budget also nudges the states and cities to take up urban planning, and we expect this to lead to planned real estate development in the country.