Finance Minister Nirmala Sitharaman is set to unveil the Interim Budget 2024 on February 1 at 11 am, setting the stage for the temporary financial plan until the new government takes over. With her sixth budget presentation – five annual, one interim, she will stand shoulder-to-shoulder with former PM Morarji Desai, etching her name in … Read more
NEW DELHI : Finance minister Nirmala Sitharaman presents her sixth annual budget, albeit an interim one, today, likely furnishing a report card on the government’s performance in the past five years. Here are five key numbers to watch out for and cut through the economic jargon: Nominal GDP growth The budget could highlight how India … Read more
Union Budget 2023 was the last full budget for the NDA government in India. On February 1, Finance Minister Nirmala Sitharaman presented the interim budget 2024 that focused on fiscal consolidation, infra, agri, green growth, and railways. However, no changes were made in the tax rates, which was a disappointment to salaried individuals. The Union … Read more
GDP growth Intent: The budget document is vital to understand GDP growth expected for the next year. The budget is presented two months prior to the start of the next financial year (2024-25) and within a month of the first estimate for the current year (2023-24). Higher growth estimates can mask higher deficit numbers, which … Read more
The interim budget has proposed a one-year extension of the timeline for startups, sovereign funds and certain businesses in Gujarat International Finance Tec-City (GIFT-City) to claim tax breaks. However, a similar extension has not been given to new manufacturing companies. “Certain tax benefits to startups and investments made by sovereign wealth or pension funds as … Read more
India is on the cusp of change, having transformed to become the fifth largest economy in the world and is gradually moving towards being in the top three. Our economy is uniquely diverse and rapidly growing; this is powered by infrastructure, manufacturing, information technology and services sectors. A key strength is our sizeable domestic market, … Read more
The government has taken a slew of measures to tame food inflation in recent months including importing pulses and releasing onion stocks at a lower price, finance minister Nirmala Sitharaman said on Tuesday. Speaking on the floor of the Rajya Sabha, Sitharaman said the government has readied stocks to release onions at a subsidized rate … Read more