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The Union Budget session of the parliament starts today

Budget 2023: Economic Survey likely to pin Indian economy growth at 6-6.8% in FY 24

Jan 31, 2023

Budget Session 2023: President of India Droupadi Murmu will first address both houses in a joint session at the parliament, following which the Economic Survey will be presented by Finance Minister Nirmala Sitharaman.

This document will give an idea about the state of the economy and various indicators in the current financial year 2022-23 and outlook for the next year.

Budget 2023-24: Nirmala Sitharaman to present Economic Survey 2022-23 in Parliament 

Jan 31, 2023

The pre-Budget document is prepared by the Economic Division of the Finance Ministry’s Department of Economic Affairs under the supervision of the Chief Economic Advisor V Anantha Nageswaran. 

The power ministry has sought a higher allocation of Rs 15,000 crore, up from Rs 7566 crore in this fiscal, for the scheme.

Budget 2023: Sops for clean energy storage and power distribution likely

Jan 29, 2023

With India aiming to achieve carbon neutrality by 2070, the Budget may also see the introduction of a viability gap funding scheme for battery storage.  

An India-centric top US strategic and business advocacy group has urged Union Finance Minister Nirmala Sitharaman to simplify and rationalise direct and indirect taxation system in India

US Industry Urges FM to Rationalise, Simplify Direct and Indirect Taxes in India

Jan 28, 2023

An India-centric top US strategic and business advocacy group has urged Union Finance Minister Nirmala Sitharaman to simplify and rationalise direct and indirect taxation system in India.

The final stage of the Budget preparation process for Union Budget 2023-24 commenced with the Halwa ceremony

Budget 2023: Traditional halwa ceremony conducted in presence of finance minister Nirmala Sitharaman

Jan 26, 2023

Union Budget halwa ceremony: Following this annual tradition, the officials from the finance department involved in the Budget preparation will be locked in the basement of the north block for approximately 10 days. They will remain there until Finance Minister Nirmala Sitharaman presents the annual Budget on February 1.

Electric vehicle (EV) players see an increase in adoption of electric vehicles in India especially in the 2W, 3W and 4W segment

Budget 2023: Extend FAME II timeline, lower taxes of electric components, EV players to govt

Jan 20, 2023

Electric vehicle (EV) players see an increase in adoption of electric vehicles in India especially in the 2W, 3W and 4W segment and with Union Budget 2023-24 just around the corner, EV companies are pushing for extending timelines for FAME II subsidy beyond 2024

Income tax in the country is levied from a minimum individual earning of 500,000 rupees per year. (Photo: Shutterbug75/Pixabay)

Budget 2023: Govt planning rate changes in new income tax structure, says report

Jan 17, 2023

A final decision would be taken by the Prime Minister's Office, both the sources, who did not want to be named because the talks are private, said.

Nirmala Sitharaman further assured that the government can do more for the middle class since its population is growing and has become sizeable.

Budget 2023: ‘I belong to middle class, understand their pressures,’ says FM Nirmala Sitharaman

Jan 16, 2023

Sitharaman was speaking at a function organised by the RSS-associated weekly Panchjanya magazine. 

Steep inflation has made affordable homes, priced below Rs 45 lakh, unsustainable say industry stakeholders

Raise affordable housing cap to Rs 1 crore, realtors demand from Finance Minister Nirmala Sitharaman

Jan 13, 2023

Steep inflation has made affordable homes, priced below Rs 45 lakh, unsustainable say industry stakeholders

The Union Budget for FY 2023-24 will be presented on February 1, 2023

Budget 2023: Date, timings, expectations, who will present it? All you need to know

Jan 05, 2023

Union Budget 2023: When will Budget 2023 be presented? Know timings, date, expectations and presenter of Budget 2023.

During the last fiscal, the total outstanding of the MFI sector was Rs 2.7 lakh crore, and the sector had created around 1.32 crore jobs in the country since 2000, Micro-Finance Institution Network (MFIN) CEO Alok Misra said on Tuesday

Outstanding microfinance loan portfolio to rise 20.3 pc in FY23 in India: MFIN

Jan 04, 2023

During the last fiscal, the total outstanding of the MFI sector was Rs 2.7 lakh crore, and the sector had created around 1.32 crore jobs in the country since 2000, Micro-Finance Institution Network (MFIN) CEO Alok Misra said on Tuesday

Food and fertiliser subsidies alone account for about one-eighth of India's total budget spending of Rs 39.45 lakh crore this fiscal year

Govt eyes $17 billion cut in food, fertiliser subsidies in 2023/24

Jan 04, 2023

Food and fertiliser subsidies alone account for about one-eighth of India's total budget spending of Rs 39.45 lakh crore this fiscal year, but reductions in food subsidies in particular may prove politically sensitive with elections looming on the horizon.

India all set to become $5 trn economy by FY25: Gadkari

India all set to become $5 trn economy by FY25: Gadkari

Dec 16, 2022

Addressing an event organised by industry body FICCI, Gadkari said the central government is aiming to boost growth and employment to achieve sustainable development.

According to the study, India will have a $10 trillion economy by 2035

World economy is headed for a recession in 2023, say experts

Dec 26, 2022

The world economy surpassed $100 trillion for the first time in 2022, according to the British consultancy's annual World Economic League Table, but will stall in 2023 as policymakers keep fighting against rising prices.

"Why? Because the three big economies - the US, EU, and China - are all slowing down simultaneously," she said.

Global economy faces tougher year in 2023 on slowdown in US, Europe, China: IMF

Jan 02, 2023

The new year is going to be "tougher than the year we leave behind," IMF Managing Director Kristalina Georgieva said on the CBS Sunday morning news program "Face the Nation."

Steps to promote ease of doing business, skilled manpower, presence of natural resources, liberal FDI policies, huge domestic market and prospects of healthy GDP growth are the reasons for optimism on the foreign inflows front for India in 2023

India to continue to attract foreign investors, though global uncertainties pose challenges

Dec 27, 2022

Steps to promote ease of doing business, skilled manpower, presence of natural resources, liberal FDI policies, huge domestic market and prospects of healthy GDP growth are the reasons for optimism on the foreign inflows front for India in 2023

SC dismisses pleas challenging 2016 demonetisation

Supreme Court dismisses petitions challenging 2016 demonetisation

Jan 02, 2023

Justice BV Nagarthana said that it is not here to decide on the merits or demerits of economic and/or financial decisions while adding that the Reserve Bank of India (RBI) is the bulwark of the Indian economy. 

Das said the international economic order stands challenged and financial markets are in turmoil due to monetary tightening in most parts of the world

Indian economy presents a picture of resilience amid global shocks

Jan 03, 2023

Das said the international economic order stands challenged and financial markets are in turmoil due to monetary tightening in most parts of the world

The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come

Indian economy poised for further growth in 2023 despite global headwinds

Jan 03, 2023

The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come

According to report of the National Crime Control Bureau (NCRB), FICN with the face value of Rs 245.33 crore has been seized by the law enforcement agencies across the country since 2016 — the year the Centre demonetised Rs 1,000 and Rs 500 notes

Circulation of fake currency notes continues to pose challenge

Jan 03, 2023

According to report of the National Crime Control Bureau (NCRB), FICN with the face value of Rs 245.33 crore has been seized by the law enforcement agencies across the country since 2016 — the year the Centre demonetised Rs 1,000 and Rs 500 notes

The Union budget-making process starts in August-September, that is, about six months prior to its date of presentation.

How is the Budget document compiled, edited, printed and presented

Jan 03, 2023

Union Budget: The Parliament’s Budgetary Session is expected to begin on January 31, 2023. The first phase of the budget session is expected to continue till February 10, 2023.