Union finance minister Nirmala Sitharaman on Tuesday presented the Narendra Modi government’s last full budget before the 2024 Lok Sabha elections. Calling it the first budget in ‘Amrit Kaal’, the finance minister said the Indian economy is on a right track and heading towards a bright future. The budget is being keenly watched by all…
Finance minister Nirmala Sitharaman has announced the biggest-ever push for Indian Railways with a capital outlay of ₹2.40 lakh crore. Compared to the last fiscal year, it is a rise of 65.6 per cent and nine times higher than the railway allocation in 2013-14. “The Indian Railways capital outlay has been set at 2.40 lakh crore,…
The government will launch a ₹2,200-crore Aatmanirbhar clean plant programme, Finance Minister Nirmala Sitharaman said on Wednesday. Presenting the Budget for 2023-24, she said an agriculture accelerator fund will also be set up to encourage agri-startups in rural areas. She further said to enhance yield of extra long staple cotton, the government will adopt a cluster-based…
Presenting the final full budget of the Modi government ahead of next year’s parliamentary elections, Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore towards the Pradhan Mantri Awas Yojana (PMAY). “Outlay for PM Awas Yojana is being enhanced by 66%, to more than ₹79,000 crore,” said Sitharaman, who presented her fifth consecutive…
Union finance minister Nirmala Sitharaman on Wednesday announced enhancing the maximum deposit level of Senior Citizens’ Saving Scheme (SCSS) from ₹15 lakh to ₹30 lakh. She also announced enhancing the maximum deposit limit for Monthly Income Accounts Scheme from ₹4.5 lakh to ₹9 lakh for single accounts, and ₹9 lakh to ₹15 lakh for joint accounts. The enhancement in the maximum…
Finance Minister Nirmala Sitharaman on Wednesday announced that the Centre will continue 50-year interest-free loans to state governments for one more year. She also said the enhanced capex of ₹10 lakh crore for infrastructure development is at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat…
Finance Minister on Wednesday announced hiking the capital expenditure by 33 per cent to ₹10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment. An expert committee…
India’s government will raise its capital expenditure by 33% to 10 trillion rupees ($122.29 billion) in the next fiscal year, the finance minister said on Wednesday, as Prime Minister Narendra Modi tries to create jobs ahead of a general election. Since taking office in 2014, Modi has ramped up capital spending including on roads and…
As many as 47.8 crore Jan Dhan accounts have been opened so far, a scheme which was launched in 2014 as a national mission for financial inclusion. Finance Minister Nirmama Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups). She said…
There will be no income tax up to ₹7 lakh in the new tax regime, announced Union Finance Minister Nirmala Sitharaman in the Union Budget 2023 on Wednesday. “The government proposes to increase income tax rebate limit from ₹5 lakh to ₹7 lakh in the new tax regime,” said Sitharaman. The finance minister also proposed to hike…
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