News

Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA The data released by the Controller General of Accounts (CGA) has showed that the Centre's fiscal deficit in the first four months of 2023-24 touched 33.9 per cent of the full-year target. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.06 lakh crore as of July-end. The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring ...
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Source: Accord Fintech
1/09/2023 12:56:23 PM
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA The Controller General of Accounts (CGA) in its latest data has said that the Centre’s fiscal deficit at the end of the first quarter of current financial touched 25.3 per cent of the full-year target. In absolute terms, the fiscal deficit - the gap between expenditure and revenue - was Rs 4,51,370 crore as of end-June. The deficit stood at 21.2 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government project...
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Source: Accord Fintech
1/08/2023 10:35:00 AM
Value of Residential Real Estate Sales Hits a New Record in FY23 All eyes are on India as it emerges as the world’s most populous country and the fastest-growing nation amidst a global economic slowdown. Even as India’s consumption-driven economy lures businesses of all stripes, the country’s housing market is now the primary growth driver for its real estate sector. residential real estate segment continues to show boundless forward momentum, and is setting unprecedented benchmarks,â€&...
Value of Residential Real Estate Sales Hits a New Record in FY23
Value of Residential Real Estate Sales Hits a New Record in FY23
Source: PR Agency
15/05/2023 11:34:20 AM
Vivad Se Vishwas scheme aimed to provide relief to MSMEs comes into force  Government has launched the 'Vivad Se Vishwas I - Relief to MSMEs' scheme, which it had announced in the Union Budget for 2023-24, to provide relief to small and medium enterprises for the Covid-19 period. The scheme commenced from April 17 and the last date for submission of claims under it is June 30, 2023. Finance Minister Nirmala Sitharaman while announcing the scheme during her budget speech on February 1, 2023, had said that in cases of failure by MSMEs to execute co...
Vivad Se Vishwas scheme aimed to provide relief to MSMEs comes into force
Vivad Se Vishwas scheme aimed to provide relief to MSMEs comes into force
Source: IANS
3/05/2023 9:15:42 AM
Mahila Samman Savings Certificate scheme comes into effect from today The Mahila Samman Savings Certificate 2023 scheme, which was announced by the government in the Union Budget, has come into effect from Friday. It was notified with the publication of the gazette notification on Friday. The Mahila Samman Savings Certificate is a one-time small savings scheme that will be offered for two years. While announcing the scheme in the Union Budget, Finance Minister Nirmala Sitharaman had said that it will be made available for a two-year period up to March 202...
Mahila Samman Savings Certificate scheme comes into effect from today
Mahila Samman Savings Certificate scheme comes into effect from today
Source: IANS
1/04/2023 9:22:15 AM
Quote on Defence sector performance in FY23 and outlook for FY24 By Ashwin Patil, LKP Securities Below The Quote on Defence sector performance in Fy23 and outlook for FY24 by Ashwin Patil, Senior Research Analyst at LKP Securities   FY23 was a good year for the defense sector with GOI emphasising more and more on indigenisation as they produced a long list of products to be procured from India. This gave a solid kicker to all the domestic defense players though the defense outlay wasn't that heavy in the Union Budget of 2023. However, in FY24, we expect the huge ...
Quote on Defence sector performance in FY23 and outlook for FY24 By Ashwin Patil, LKP Securities
Quote on Defence sector performance in FY23 and outlook for FY24 By Ashwin Patil, LKP Securities
Source: LKP Securities Ltd
31/03/2023 12:44:43 PM
Government plans to implement 58% of its borrowings in first half of 2023-24 The Union government plans to implement almost 58 per cent of its borrowing for 2023-24 during the first half of the forthcoming fiscal, according to its borrowing programme for the above-mentioned period, finalised in consultation with the RBI. Out of the gross market borrowing of Rs 15.43 lakh crore projected for 2023-24 in the Union Budget, Rs 8.88 lakh crore (or 57.55 per cent) is planned to be borrowed in first half of the fiscal. The borrowing is scheduled to be completed in 26 we...
Government plans to implement 58% of its borrowings in first half of 2023-24
Government plans to implement 58% of its borrowings in first half of 2023-24
Source: IANS
30/03/2023 10:20:58 AM
India Inc sees only 89 deals worth $1.8bn in Feb; down 54% from last year The global macro-economic conditions and funding winter continued as India Inc recorded only 89 deals worth $1.8 billion in February -- a 54 per cent decline in volumes and a significant 60 per cent decline in values compared to February 2022, a report showed on Tuesday. Investors continued treading cautiously amid macroeconomic uncertainties. This also marked the second-lowest deal volumes and lowest values recorded since 2014, according to Grant Thornton Bharat's 'Dealtracker Feb...
India Inc sees only 89 deals worth $1.8bn in Feb; down 54% from last year
India Inc sees only 89 deals worth $1.8bn in Feb; down 54% from last year
Source: IANS
15/03/2023 1:43:07 PM
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary The Minister of State for Finance Pankaj Chaudhary has said that the government is taking steps to make India a $5 trillion economy at an early date. Earlier, the IMF's World Economic Outlook said the size of the Indian economy will increase from $3.2 trillion in 2021-22 to $3.5 trillion in 2022-23 and cross $5 trillion in 2026-27. Observing that the outbreak of the COVID pandemic in 2020 and the Russia-Ukraine conflict in 2022 has impacted the world output, increased inflation in several...
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary
Source: Accord Fintech
15/03/2023 9:44:12 AM
We`re building AI for governance, commercial use, deep capabilities: Rajeev Chandrasekhar Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Monday broadly outlined the IndiaAI programme and how it will help the country build world-class platforms, solutions and tools to not only solve local issues but also help the world. Reiterating that artificial intelligence (AI) is a "kinetic enabler" of the digital economy, Chandrasekhar said that India is building AI in a way that is beyond ChatGPT which has made conversations via AI a fashionable thing f...
We`re building AI for governance, commercial use, deep capabilities: Rajeev Chandrasekhar
We`re building AI for governance, commercial use, deep capabilities: Rajeev Chandrasekhar
Source: IANS
14/03/2023 8:53:13 AM
Union budget accelerates green growth momentum, says Prime Minister Narendra Modi  Prime Minister Narendra Modi on Thursday said that the union budget for 2023-2024 accelerates the momentum for green growth. Addressing a post budget webinar on "green growth", Modi said, "Every budget of this government has been forwarding new-age reforms along with finding solutions to current challenges." "Green energy announcements in this budget lay the foundation stone and pave the way for future generations. This budget will play a key role in estab...
Union budget accelerates green growth momentum, says Prime Minister Narendra Modi
Union budget accelerates green growth momentum, says Prime Minister Narendra Modi
Source: IANS
23/02/2023 1:10:42 PM
Margin recovery highlight of Q3 results: ICICI Securities The highlight of the third quarter results for FY23 is the recovery of margins by the corporate sector, said ICICI Securities in a report. According to the report, Nifty operating margins (ex-financials) rose 230 basis points (bps) QoQ to 17 per cent, primarily led by savings realised from lower raw material costs as gross margin expanded 230 bps QoQ. "This is post a low of 14.7 per cent margin recorded in the last quarter i.e. Q2FY23. On an aggregate basis (ex-financials), the Nif...
Margin recovery highlight of Q3 results: ICICI Securities
Margin recovery highlight of Q3 results: ICICI Securities
Source: IANS
21/02/2023 9:19:31 AM
Budget should have focused more on asset monetisation: Former Niti Aayog Vice Chairman Former Niti Aayog Vice Chairman Rajiv Kumar has said the Budget should have focused more on asset monetisation and privatisation, besides allocating more funds to the social sector schemes. Finance Mininster Nirmala Sitharaman presented the Union Budget 2023-24 in the Lok Sabha on February 1. Kumar said ‘There should be (have been) a lot more focus on privatisation and asset monetisation, which I do not find reference to here (Budget).’ He also said Rs 51,000 crore disinvestmen...
Budget should have focused more on asset monetisation: Former Niti Aayog Vice Chairman
Budget should have focused more on asset monetisation: Former Niti Aayog Vice Chairman
Source: Accord Fintech
17/02/2023 10:57:11 AM
Half of Nifty 50 stocks yet to regain after Budget Says Anand James, Geojit Financial Services Views On Half of Nifty 50 stocks yet to regain after Budget by Anand James - Chief Market Strategist, Geojit Financial Services  In total, 23 stocks out of 50 have lagged in recouping their budget-day highs  "Heavy weights from IT (TCS and Infy) and Banki-ng (HDFCBANK and ICICIBANK) along with Oil Major Reliance drove Nifty up this week. Top 10 stocks in Nifty50 in terms of weightage, have moved up  an average ~1% this week till Thursday with last two days ...
Half of Nifty 50 stocks yet to regain after Budget Says Anand James, Geojit Financial Services
Half of Nifty 50 stocks yet to regain after Budget Says Anand James, Geojit Financial Services
Source: Geojit Financial Services Ltd
16/02/2023 5:05:40 PM
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's  The infrastructure led investments in India will drive up the demand for cement and other building materials, said Moody's Investors Service in a report. According to Moody's, India's cement production will climb by around 6-8 per cent over fiscal years 2023 and 2024, following a 21 per cent jump for the fiscal year ended March 2022. However the industry is unlikely to enjoy unusually high profits as it did in fiscal 2022, Moody's added. The housing sector will ...
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's
Source: IANS
15/02/2023 12:18:18 PM
Two-wheeler sales not matching pace of passenger vehicle, three-wheelers: SIAM The growth in two-wheeler sales is not keeping pace with the sales growth logged by passenger vehicle and three-wheeler segments, said a top official of Society of Indian Automobile Manufacturers (SIAM). Referring to the January 2023 sales data of automobile manufacturers, Vinod Aggarwal, President, SIAM said: "Better consumer sentiments is driving demand for passenger vehicles. Three-wheeler segment has gained traction compared to the past two years, though they are still to reach th...
Two-wheeler sales not matching pace of passenger vehicle, three-wheelers: SIAM
Two-wheeler sales not matching pace of passenger vehicle, three-wheelers: SIAM
Source: IANS
13/02/2023 4:24:44 PM
Inflation-linked road toll rate hike to be modest in FY24: ICRA  Credit rating agency ICRA on Monday said the inflation-linked toll hike should be relatively modest at 2-5 per cent in FY24 as compared to 8.7-14.6 per cent last fiscal. ICRA has revised the outlook on the toll road sector to stable from positive for FY24. "In the backdrop of easing WPI inflation to 4.95 per cent in December 2022 and an expected WPI inflation of sub-2 per cent in March 2023, the inflation-linked toll hike should be relatively modest at 2-5 per cent in FY2024 ...
Inflation-linked road toll rate hike to be modest in FY24: ICRA
Inflation-linked road toll rate hike to be modest in FY24: ICRA
Source: IANS
13/02/2023 4:21:13 PM
How Budget 2023 Impacts Your Personal Finance Union Budget 2023 is set out to have a significant impact on the personal finances of many. Depending on your income, you are in for some substantial changes. On the whole, the government has kept the middle-class population in mind while increasing the tax benefits, restructuring tax slabs, and raising the rebate. Further, the maximum rate of tax for high-income earners has also been slashed by reducing the surcharge. To benefit salaried non-government employees, the leave encashment exem...
How Budget 2023 Impacts Your Personal Finance
How Budget 2023 Impacts Your Personal Finance
Source: .
7/02/2023 11:40:23 AM
Union Budget lays more emphasis on taking skilling to last mile The Union Budget 2023-24 has done well for developing and enhancing the digital talent pool in the country that will help fully realise our demographic dividend, industry leaders said on Monday. The country is expanding investments in modern capex, digitalisation, skilling for youth and expanding support and opportunities for all. Sona group at Trend Micro said that the budget places a strong emphasis on talent development, digital skills training, and upskilling. "This is in re...
Union Budget lays more emphasis on taking skilling to last mile
Union Budget lays more emphasis on taking skilling to last mile
Source: IANS
6/02/2023 12:14:57 PM
Uttar Pradesh to get highest share of modernisation funds allocated to Railways  Uttar Pradesh has got the lion's share - Rs 17,507 crore from Rs 2.4 lakh crore allocated to the Railways in the Union Budget 2023-24. This time, the Centre has announced a budget of Rs 2.4 lakh crore for the Railways. In this, Rs 75,000 crore will be spent for new schemes. According to Indian Railways, this time the budget allocation has been the highest in the history. In 2013-14, Rs 28,174 crore came in the share of Railways. After this, Rs 1,59,100 crore has been received in ...
Uttar Pradesh to get highest share of modernisation funds allocated to Railways
Uttar Pradesh to get highest share of modernisation funds allocated to Railways
Source: IANS
5/02/2023 2:35:20 PM
BJP top brass confident that Budget sends out right signals for 2024  In the annual Union budget, most look out for any change in the tax slab. On Wednesday, Finance Minister Nirmala Sitharaman presented the budget in the Parliament and spoke about the change in the tax slabs along with the electoral equations of this budget. This budget has prepared a complete road map for the polls in the near future. Explaining the political aspect of this budget, analysts say that there is no doubt that this budget will help in assembly elections of nine states to ...
BJP top brass confident that Budget sends out right signals for 2024
BJP top brass confident that Budget sends out right signals for 2024
Source: IANS
5/02/2023 1:45:56 PM
Budget doubles funds for Indian knowledge system; thrust on regional languages Special provisions have been introduced in the Union Budget 2023-24 to promote indigenous languages and Indian Knowledge System (IKS) among the youth. An allocation of Rs 300.7 crore has been made in the budget for teaching, promoting and encouraging the youth in regional languages. It is 20 per cent higher than the previous year's allocation. On the other hand, for the IKS, the allocation has been increased by 100 per cent. According to the Union Education Ministry, the Central ...
Budget doubles funds for Indian knowledge system; thrust on regional languages
Budget doubles funds for Indian knowledge system; thrust on regional languages
Source: IANS
5/02/2023 12:13:36 PM
Finance Minister Nirmala Sitharaman did well to steer clear of poll-bound populism The Union Budget 2023-24 was presented on February 1 in the Parliament under very tough times, not only for India, but the entire world. Inflation, rising interest rates and cost hikes across the board have hit almost all economies in some form or the other. It may be said that India and its economy have been able to pull it off in a better manner than many other global economies and is one of the fastest growing economies. This Budget being the last full Budget before next year's gene...
Finance Minister Nirmala Sitharaman did well to steer clear of poll-bound populism
Finance Minister Nirmala Sitharaman did well to steer clear of poll-bound populism
Source: IANS
5/02/2023 10:36:26 AM
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0 Provisions of India's Budget for FY 2023-24 show the country's firm resolve to play the role of engine of growth for the sagging global economy. This is why India was earlier described by multilateral agencies as a bright spot amid global economic uncertainty and looming recession and Russia-Ukraine War further hurting the prospects of post pandemic economic recovery. The International Monetary Fund's (IMF) January 2023 World Economic Outlook Update projected a decline in globa...
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0
Source: IANS
5/02/2023 8:52:35 AM
Revival of rural economy to take time in the absence of specific triggers Focus on the rural economy in the budget has been waning over the years and in such a scenario a revival of the rural economy would take time, JM Financial said in a report. In the absence of a specific focus on the rural economy in the Union Budget for 2023-24, analysts don't see immediate triggers for revival in the rural economy. Moreover in the absence of specific or enhancement of allocation towards the rural economy, we believe that the rural environment would have to revive on i...
Revival of rural economy to take time in the absence of specific triggers
Revival of rural economy to take time in the absence of specific triggers
Source: IANS
4/02/2023 5:27:03 PM
Budget allocated Rs 10K cr for railway sector in Odisha: Ashwini Vaishnaw The Centre has allocated Rs 10,000 crore for development of railways in Odisha in the Union Budget for FY 2023-24, Railway Minister Ashwini Vaishnaw said on Friday. Speaking to mediapersons in Delhi, Vaishnaw said the Odisha government had demanded Rs 8,400 crore for development of railways in the state. However, Prime Minister Narendra Modi has allocated Rs 10,012 crore to the state, he said. The minister also announced that the 'Bande Metro' train will be introduced soon betwe...
Budget allocated Rs 10K cr for railway sector in Odisha: Ashwini Vaishnaw
Budget allocated Rs 10K cr for railway sector in Odisha: Ashwini Vaishnaw
Source: IANS
4/02/2023 9:55:01 AM
Budget 2023: How various businesses responded to PM Narendra Modi government`s growth vision in the face of global challenges Below is Companies reaction to the first budget of ‘Amrit Kaal’ that’s focusing on Green growth, infrastructure and investment, youth power,  financial sectors and many more India's Union Budget 2023 was announced on 1st February by Finance Minister Nirmala Sitharaman. The Finance Minister made numerous significant announcements addressing various sectors in the budget speech. She made significant announcements regarding green economy, youth, digital growth, arti...
Budget 2023: How various businesses responded to PM Narendra Modi government`s growth vision in the face of global challenges
Budget 2023: How various businesses responded to PM Narendra Modi government`s growth vision in the face of global challenges
Source: PR Agency
3/02/2023 5:30:01 PM
Budget Effect: Carrying forward of losses to 10 years good for startups The Alternative Investment Funds (AIF), startups and investors are to benefit from Union Finance Minister Nirmala Sitharaman's Budget proposal to hike carrying forward of losses by three years to 10 years, said experts. The AIFs and family offices are expected to benefit from measures taken to extend the period of incorporation and carry forward losses, thus enabling the entire ecosystem of startups and the investor community, said credit rating agency CRISIL in its report on the Union...
Budget Effect: Carrying forward of losses to 10 years good for startups
Budget Effect: Carrying forward of losses to 10 years good for startups
Source: IANS
3/02/2023 2:58:52 PM
Post Budget Analysis : The well-balanced and forward looking Budget Says Ravi Kumar, Upstox Below is Post Budget Comment By Ravi Kumar, Founder & CEO, Upstox  “We are thrilled to see this budget’s well-balanced and forward looking approach. From basic infrastructure to environment, from fintech to education and upskilling, the budget covers it all and accelerates efforts to achieve inclusive and sustainable development.  In line with the government's vision to strengthen financial inclusion, the establishment of the National Financial Informa...
Post Budget Analysis : The well-balanced and forward looking Budget Says Ravi Kumar, Upstox
Post Budget Analysis : The well-balanced and forward looking Budget Says Ravi Kumar, Upstox
Source: PR Agency
3/02/2023 2:35:33 PM
Post Budget Analysis : Budget focuses on sustainable growth and infrastructure development Rampraveen Swaminathan, Mahindra Logistics Below is Post Budget Comment By Mr. Rampraveen Swaminathan, MD and CEO, Mahindra Logistics Ltd “We welcome this budget as it focuses on sustainable growth and infrastructure development. The announcement of setting up Urban Investment development fund (UIDF) for Tier 2 and Tier 3 cities will provide a much needed boost for smoother and faster logistics transportation and will further ensure greater connectivity in tier-2 and tier-3 cities. Identifying 100 critical transport infrastru...
Post Budget Analysis : Budget focuses on sustainable growth and infrastructure development Rampraveen Swaminathan, Mahindra Logistics
Post Budget Analysis : Budget focuses on sustainable growth and infrastructure development Rampraveen Swaminathan, Mahindra Logistics
Source: PR Agency
3/02/2023 1:46:32 PM
Will the Union Budget impact your life and style The 2023-2024 Union Budget was announced and what impact will it make on your life and style in the coming year? While some industries had favourable results that will spur the growth of the sector, others were rather underwhelmed. Experts in the field expresses their thoughts to IANSlife... Eating out? The F&b industry benefits from the personal tax relief measures outlined in the budget. Commenting on the same, Merrill Pereyra, Managing Director, Pizza Hut India Subcontinent sa...
Will the Union Budget impact your life and style
Will the Union Budget impact your life and style
Source: Accord Fintech
3/02/2023 12:56:14 PM
Post Budget Analysis : The Union Budget for the fiscal year presents a positive outlook for the MSME sector in India Says Sandip Chhettri, Tradeindia.com Below is Post Budget Comment By Mr. Sandip Chhettri, CEO Tradeindia.com  The Union Budget for the fiscal year  presents a positive outlook for the MSME sector in India. The allocation of funds for credit support will help MSMEs access finance at lower interest rates and improve their ability to invest in growth. The government's push towards digitization is also commendable, with a new scheme to provide financial assistance for the adoption of technology and automation. ...
Post Budget Analysis : The Union Budget for the fiscal year presents a positive outlook for the MSME sector in India Says Sandip Chhettri, Tradeindia.com
Post Budget Analysis : The Union Budget for the fiscal year presents a positive outlook for the MSME sector in India Says Sandip Chhettri, Tradeindia.com
Source: PR Agency
3/02/2023 12:46:45 PM
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI Federation of Indian Mineral Industries (FIMI) has said that the import of low quality copper scrap at lower price is causing adverse impact on the quality of end-products which are used in critical applications like housing, wire and coil applications which are prone to fire hazards due to lower conductivity and high resistance of such scrap-made copper wires. The statement came after finance minister Nirmala Sitharaman in her Budget speech announced that the concessional basic customs du...
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI
Source: Accord Fintech
3/02/2023 12:36:17 PM
Post Budget Analysis : Consistency is the key theme of Union Budget 2023 Says Ram Iyer, Vayana Network Below is Post Budget Comment By Ram Iyer, Founder and CEO, Vayana Network  “The union budget of 2023 has been exceptionally consistent over the years in focus areas across Infrastructure, Agriculture, MSMEs and ease of doing business.  The capital expenditure has been increased by 33% to a historic high of INR10 lakh crores, showing government’s commitment to creating jobs and stimulating expenditure resulting in a multiplier effect pegging GDP growth at ...
Post Budget Analysis : Consistency is the key theme of Union Budget 2023 Says Ram Iyer, Vayana Network
Post Budget Analysis : Consistency is the key theme of Union Budget 2023 Says Ram Iyer, Vayana Network
Source: PR Agency
3/02/2023 12:33:09 PM
Post Budget Analysis : Growth-oriented budget with massive capital investment outlays Says Gopichand Hinduja, Hinduja Group Below is Post Budget Comment By Mr. Gopichand P. Hinduja, Co-Chairman, Hinduja Group Limited “When India is the lone shining star in the world facing threats of recession, Ms Nirmala Sitaraman has delivered a perfectly focused growth-oriented budget with massive capital investment outlays @ 4.5% of GDP while staying on track with the fiscal deficit reduction plan. What is remarkable is the holistic, sustainable and inclusive approach taken covering every element of infrastructure ...
Post Budget Analysis : Growth-oriented budget with massive capital investment outlays Says Gopichand Hinduja, Hinduja Group
Post Budget Analysis : Growth-oriented budget with massive capital investment outlays Says Gopichand Hinduja, Hinduja Group
Source: PR Agency
3/02/2023 12:25:47 PM
Post Budget Analysis : Balanced and inclusive budget that will provide further impetus to growth Says Anil G Verma, Godrej & Boyce Below is Post Budget Comment By Mr. Anil G Verma, Executive Director and CEO, Godrej & Boyce “This is a balanced and inclusive budget which will provide further impetus to growth. The renewed thrust on investment in infrastructure will drive the productivity of our economy and generate employment. Our competitiveness in the global economy will also be improved through the thrust on research in fields like 5G services, AI and agriculture. Together with the initiatives to reduce th...
Post Budget Analysis : Balanced and inclusive budget that will provide further impetus to growth Says Anil G Verma, Godrej & Boyce
Post Budget Analysis : Balanced and inclusive budget that will provide further impetus to growth Says Anil G Verma, Godrej & Boyce
Source: PR Agency
3/02/2023 12:11:33 PM
Post Budget Analysis : Budget has delivered on all the expectations very well Says B Gopkumar, Axis Securities Below is Post Budget Comment By Mr. B Gopkumar, MD & CEO, Axis Securities  An extremely well-balanced budget focussed on growth driven by capital expenditure while giving an adequate push to rural welfare and agriculture. Government borrowing is well-calibrated, and it is a significant positive. The fiscal deficit target of 5.9% indicates a considerable degree of prudence. On top of this, relief to the middle class on the income tax front is the cherry on the cake. ...
Post Budget Analysis : Budget has delivered on all the expectations very well Says B Gopkumar, Axis Securities
Post Budget Analysis : Budget has delivered on all the expectations very well Says B Gopkumar, Axis Securities
Source: PR Agency
3/02/2023 12:06:27 PM
Monthly GST collection likely at Rs 1.50 lakh crore to be `new normal` in FY24: CBIC chief Central Board of Indirect Taxes and Customs (CBIC) chief Vivek Johri has said that monthly GST collection is expected to average around Rs 1.50 lakh crore and it will be the ‘new normal’ in FY24 in view of concerted efforts to check evasion and bring new businesses within the GST net. He said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends, respectively and the indirect tax collection target set ...
Monthly GST collection likely at Rs 1.50 lakh crore to be `new normal` in FY24: CBIC chief
Monthly GST collection likely at Rs 1.50 lakh crore to be `new normal` in FY24: CBIC chief
Source: Accord Fintech
3/02/2023 11:51:38 AM
Post Budget Analysis : The new proposed tax regime will provide major relief to all taxpayers Says Vijay Chandok, ICICI Securities Below is Post Budget Comment By Mr. Vijay Chandok, MD & CEO - ICICI Securities The Union Budget is a testament to the government's vision of achieving a technology-driven and knowledge-based economy, with strong public finances. The government’s focus on capital allocation is a clear indicator of its intention of bolstering growth and employment in the country. We believe the increment in capital investment outlay for the third year in a row by 33 per cent to 10 lakh crore...
Post Budget Analysis : The new proposed tax regime will provide major relief to all taxpayers Says Vijay Chandok, ICICI Securities
Post Budget Analysis : The new proposed tax regime will provide major relief to all taxpayers Says Vijay Chandok, ICICI Securities
Source: PR Agency
3/02/2023 11:42:27 AM
Post Budget Analysis : Growth-oriented budget, one of the best in years Says Ashish Kumar Chauhan, NSE Below is Post Budget Comment By Shri Ashish Kumar Chauhan, MD& CEO, NSE “This is a growth-oriented budget, one of the best in years, with a focus on both infrastructure and job creation, while reducing income tax for pretty much everyone, and lots of money to states. The fiscal deficit has been reduced from 6.4% to 5.9% of GDP, with a clear path to reach 4.5% in next three years. The focus on infrastructure, as seen in the rising capex outlay from Rs7.5lakh crore to Rs10 lakh cro...
Post Budget Analysis : Growth-oriented budget, one of the best in years Says Ashish Kumar Chauhan, NSE
Post Budget Analysis : Growth-oriented budget, one of the best in years Says Ashish Kumar Chauhan, NSE
Source: PR Agency
3/02/2023 11:33:56 AM
Allocation for aid to foreign countries cut by 2.6% in Budget India has cut the overall allocation for aid to foreign countries from Rs 6,005 crore in 2022-23 to Rs 5,848 crore in the forthcoming fiscal of 2023-24, a reduction of 2.6 per cent in the union budget for 2023-2024, which was presented by Finance Minister Nirmala Sitharaman on February 1. Some of the countries whose allocation has been reduced under this head include Bhutan, Afghanistan and Mauritius. At the same time, budget allocation for Bangladesh, Nepal, crisis-hit Sri Lanka, Mongo...
Allocation for aid to foreign countries cut by 2.6% in Budget
Allocation for aid to foreign countries cut by 2.6% in Budget
Source: IANS
3/02/2023 9:42:06 AM
Innovative, bold and stellar budget to take India to stronger growth trajectory over next few years: USISPF President The US India Strategic and Partnership Forum (USISPF) President Mukesh Aghi has said that the innovative, bold and stellar budget presented by Union Finance Minister Nirmala Sitharaman will take India to a stronger growth trajectory over the next few years. Applauding the finance minister, the USISPF said the budget is a blueprint for the year, outlining the vision for the next 25 years leading to the centenary of India's independence (2047). He said ‘India’s rise from the ...
Innovative, bold and stellar budget to take India to stronger growth trajectory over next few years: USISPF President
Innovative, bold and stellar budget to take India to stronger growth trajectory over next few years: USISPF President
Source: Accord Fintech
3/02/2023 9:41:48 AM
Post-Budget Reaction by Mr. Akshay Mehrotra, Co-Founder and CEO of Fibe Mr. Akshay Mehrotra, CEO and Co-Founder of Fibe post-budget 2023 reaction: “As India's Finance Minister Nirmala Sitharaman presented the budget for FY 23-24, I felt it was an inclusive one with a focus on most sectors. The budget which seeks to lower India’s fiscal deficit, with a focus on digitalization and incentives for investments to support an economy that is caught in the global slowdown along with the revision of income tax slabs, is a true testament t...
Post-Budget Reaction by Mr. Akshay Mehrotra, Co-Founder and CEO of Fibe
Post-Budget Reaction by Mr. Akshay Mehrotra, Co-Founder and CEO of Fibe
Source: PR Agency
2/02/2023 7:14:03 PM
Haryana Budget session from February 20 Haryana Chief Minister Manohar Lal Khattar on Thursday said state's Budget session will begin on February 20 and will be held in two parts. The Chief Minister told the media here that Haryana is in a better financial position compared to neighbouring states. He said the economic growth rate of the country for this fiscal is about seven per cent. However, the economic growth rate of Haryana is about eight per cent. "In the Union Budget, the limit of fiscal deficit has been fi...
Haryana Budget session from February 20
Haryana Budget session from February 20
Source: IANS
2/02/2023 5:27:39 PM
Post Budget Reaction : Union Budget 2023-24 has continued the government`s focus on the India growth story Says Manish Mehan, TK Elevator India Below is Post Budget Comment By Mr. Manish Mehan, CEO and MD of TK Elevator India post-budget 2023 reaction: “Union Budget 2023-24 has continued the government’s focus on the India growth story. In this year’s budget, the GOI has recognized infrastructure and investment as one of the 7 priorities that the budget is based on. The 33% higher capital outlay of Rs 10 lakh crore on infrastructure development will build a foundation for Tier 2 & Tier 3 cities to t...
Post Budget Reaction : Union Budget 2023-24 has continued the government`s focus on the India growth story Says Manish Mehan, TK Elevator India
Post Budget Reaction : Union Budget 2023-24 has continued the government`s focus on the India growth story Says Manish Mehan, TK Elevator India
Source: PR Agency
2/02/2023 5:21:12 PM
Union Budget Review : Big Capex thrust-led consolidation Says Emkay Global Financial Services *  The FY24 budget has ensured that fiscal impulse is maximized to improve potential growth, while signaling adherence to medium-term fiscal sustainability. The focus on better resource allocation and sectoral reforms has continued, even as policymakers face a stiff global macro climate, which has had adverse impact on the twin deficit in FY23. Push for a transparent tax regime is likely to continue ahead. The need for revenue mobilization – on both, the taxes front and asset monet...
Union Budget Review : Big Capex thrust-led consolidation Says Emkay Global Financial Services
Union Budget Review : Big Capex thrust-led consolidation Says Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2/02/2023 5:12:40 PM
Focus on fiscal consolidation; however, capital expenditure push intact By Angel One Ltd The Government in line with their aim to reach a fiscal deficit level below 4.5% of the GDP by 2025-26 has fixed the deficit for 2023-24 at 5.9%. The reduction in Fiscal deficit figure was expected led by reduction in subsidies post pandemic and moderating global commodity inflation. Deficit figure of 6.4% for FY2023 was retained as budgeted. The Government expenditure for FY2023 was revised upwards to ?41.8 lakh Cr. from the budget estimate of ?39.4 lakh Cr. This was led primarily on acco...
Focus on fiscal consolidation; however, capital expenditure push intact By Angel One Ltd
Focus on fiscal consolidation; however, capital expenditure push intact By Angel One Ltd
Source: Angel One Ltd
2/02/2023 5:08:48 PM
Union Budget FY23-24 : Prioritizing substance over show Says Anand Rathi Share and Stock Broker Without much fanfare, the budget did a good balancing act between conflicting objectives including investment-led growth promotion and fiscal consolidation. We expect infra, construction, building material and hospitality companies to be key beneficiaries. Delivering in a tough environment. The Union Budget is presented in the midst of global economic slowdowns. With the highest growth and low inflation versus peers, India stands out as a beacon of hope. The budget has achieved a balanc...
Union Budget FY23-24 : Prioritizing substance over show Says Anand Rathi Share and Stock Broker
Union Budget FY23-24 : Prioritizing substance over show Says Anand Rathi Share and Stock Broker
Source: Anand Rathi Shares and Stock Brokers Ltd
2/02/2023 5:03:34 PM