Page 5 - Union Budget

Budget 2022: Govt subsidies to fall 39% to Rs 4.3 trn in FY22

For the next fiscal, the government said total subsidies are estimated to further decline to Rs 3,17,866 crore from Rs 4,33,108 crore in the current fiscal

Budget: There was room for more direct support, says hospitality industry

The government has extended the ECLGS up to March 2023 and earmarked an additional Rs 50,000 cr for hospitality and related sectors

Budget fails to cheer healthcare industry as long standing demands unmet

Leading healthcare providers rued that the Budget has failed to address many of the long pending demands of the industry.

Budget has laid road map for long term development: Ashok Leyland

The Union Budget presented by Nirmala Sitharaman has laid the road map for long-term development over the next 25 years, a top official of city-based Hinduja Group flagship Ashok Leyland said

Budget 2022: Centre lowers FY23 divestment target to Rs 65K crore

The Centre had planned major divestments and strategic sale of Air India, BPCL, public sector banks, an insurance company amongst others

MSME sector group hails budget; another trade body dismayed over tax sops

A leading organisation representing MSMEs praised the Union Budget for 2022-23, saying its proposals are based on "long-term thinking"

Budget 2022: Ministry of Science and Technology allocated Rs 14,217 crore

The Ministry of Science and Technology has been allocated Rs 14,217 crore in the Union Budget 2022-23, a 3.9 per cent decrease from last fiscal. The ministry has three departments Department of Science and Technology (DST), Department of Biotechnology and Department of Scientific and Industrial Research (DSIR). An amount of Rs 6,000 crore has been allocated to the Department of Science and Technology, Rs 2,581 crore to the Department of Biotechnology and Rs 5,636 crore have been allocated to the Department of Scientific and Industrial Research. All these departments played a key role in combating the COVID-19 pandemic in the country. The Central Sector Schemes under the Department of Science and Technology were allocated Rs 2,894 crore, a drop from Rs 2,915 crore in 2021-22. At the same time, Rs 1,680 crore have been allocated to central sector schemes under the Department of Biotechnology, a drop from Rs 2,620 crore in 2021-22. Also, Rs 39 crore have been allocated to the Centr

Rs 1,711 cr earmarked for union cabinet, ministers salaries, travel, others

The Union Budget allocated Rs 1,711.04 crore for a host of expenditure of the Union Cabinet that includes salaries, sumptuary and travel by central ministers among others.

Budget 2022: Govt pegs STT collection at Rs 20,000 cr for FY23

The sharp increase in budget estimate for the next fiscal could be on account of government's confidence in the securities market

Budget 2022: Growth-oriented and transformative, says CII Director General

'We are confident that the growth projection made by the Economic Survey at 8-8.5 per cent in 2022-23 will be met,' the CII DG Chandrajit Banerjee averred

Unprecedented provisions made for farm sector development in Budget: Tomar

Welcoming the Budget 2022, Agriculture Minister Narendra Singh Tomar on Tuesday said unprecedented provisions have been made for the overall development of the farm sector.

Centre allocates Rs 19,130 crore in Union Budget for Metro projects

The Centre has allocated Rs 19,130 crore in the Union Budget 2022-23 for various metro projects in the country.

Budget 2022 'extremely negative' for Delhi, betrays farmers: Sisodia

The central government not only reduced allocation for minimum support price (MSP) but also cut down the number of beneficiaries in the Budget, he said

Budget 2022: 'Focus on multi-modal connectivity to boost logistics sector'

Finance Minister Nirmala Sitharaman in her Budget speech on Tuesday said the PM Gati Shakti National Master Plan is a transformative approach for economic growth and sustainable development

Budget 2022: Equity investors become richer by about Rs 3 trillion

Equity investors became richer by more than Rs 2.99 lakh crore on Tuesday as the Union Budget was well received by the stock market. On the Budget Day, the 30-share BSE index jumped 848.40 points or 1.46 per cent to settle at 58,862.57. During the day, it gained 1,018.03 points to 59,032.20. It was merriment on the Dalal Street, as the market capitalisation of BSE-listed companies jumped by Rs 2,99,354.61 crore to Rs 2,67,40,561.79 crore. This is the second day of gain for the market and in two days investors' wealth has zoomed Rs 6,32,857.56 crore to reach Rs 2,67,40,561.79 crore. "The equity markets were cheerful on announcement of huge outlay of capital expenditure in overall infrastructure development. This Union Budget will also lay the foundation for economic growth through public investments as India emerges from a pandemic induced slump. "Hardly any tinkering with tax & avoiding populist measures was also received well by the market participants," said Devang Mehta, Head

Budget 2022: Taxpayers can file updated I-T returns within two years

The Finance Minister said this would give taxpayers an opportunity to correct any omissions or mistakes in correctly estimating their income for tax payment

'Budget 2022 sends important signal to markets, financial institutions'

These were the views of climate experts and negotiators who participated in several international diplomatic meets, including the just concluded UN Climate Change Conference or COP26

Budget 2022: Social Justice and Empowerment Ministry allocated Rs 13,134 cr

The Social Justice and Empowerment Ministry, which caters to the welfare of the backward classes and those with disabilities, was allocated Rs 13,134 crore in the Union Budget 2022-23, a 12 percent increase from the last fiscal. An amount of Rs 11,922 crore has been allocated for the Department of Social Justice and Empowerment and Rs Rs 1212 crore for the Department of Empowerment of Persons with Disabilities in the financial year 2022-23. The Budget for 2022-23 saw an allocation of Rs 56 crore for the three national commissions -- National Commission for Scheduled Castes, National Commission for Backward Classes and National Commission for Safai Karamcharis, as against the allocation of Rs 49 crore for 2021-22. However, certain crucial schemes of the ministry like the Support for Marginalized Individuals for Livelihood & Enterprise (SMILE), Scheme for Economic Empowerment of DNT/NT/SNTs (SEED), Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi (PM DAKSH) Yojana and Self ...

Budget 2022: Govt raises farm credit target to Rs 18 lakh cr for FY23

About Rs 7.36 lakh crore agri-credit has been disbursed to farmers during the first six months of the 2021-22 fiscal year against the target of Rs 16.50 lakh crore, according to the Economic Survey

People will reject this 'capitalist Budget', says P Chidambaram

The "capitalist" Union Budget 2022-23 is "obdurate" and "callous" as there is no cash assistance to the very poor, former Union Finance Minister P. Chidambaram said on Tuesday.