Aiming to discourage cheap imports from China and encourage domestic manufacturing, Customs duty on imitation jewellery has been enhanced from 20 per cent to 25 per cent in the Union Budget 2023-24 that was presented by Finance Minister Nirmala Sitharaman on Wednesday.
The Supreme Court on Wednesday sought reply from Centre on a 2010 'Gajah Report' recommendation on conferring statutory status to a proposed body National Elephant Conservation Authority (NECA) for the preservation of elephant corridors.
The Supreme Court on Wednesday directed WhatsApp to give wide publicity in the media that users aren't bound to accept its 2021 privacy policy and also WhatsApp's functionality would not be affected till the new data protection bill comes into effect.
The Budget documents showed that the major reduction is mainly due to lower money allocation for AI Asset Holding Ltd (AIAHL), a special purpose vehicle formed by the government and that holds various assets of national carrier Air India.
-scheme.jpg "Rs 28,138 crore allocated to meet requirements for OROP"){kind=icon}
The Union Budget 2023-24 on Wednesday allocated Rs 28,138 crore to meet the requirements on account of revision of armed forces pensioners/ family pensioners under the One Rank One Pension (OROP) scheme.
The integration of the Ayush system in the National Health ecosystem has got a major boost in the Budget 2023-24 presented by Finance Minister Nirmala Sitharaman on Wednesday.
The Union Budget 2023-24, which was presented in the Parliament by Finance Minister Nirmala Sitharaman on Wednesday, allocated Rs 5.94 lakh crore for the defence sector, marking a hike of 13 per cent over previous year's layout of Rs 5.25 lakh crore.
With Lok Sabha polls just a year away, the Narendra Modi-led government on Wednesday unveiled its last full union budget for 2023-24, which came loaded with tax relief for taxpayers, significant push towards capital spending and infrastructure as well as agriculture and defence.
Mindful of the 2024 Lok Sabha elections, the Union Budget on Wednesday enhanced allocation to the government's ambitious Jal Jeevan Mission by 27 per cent to Rs 69,684 crore for 2023-24, from Rs 54,808 crore in the current fiscal.
Nakul Anand, Chairman of FAITH, the apex body of tourism and hospitality industry associations, said the Union Budget could have announced more direct support measures for the two sectors.
The Education Ministry has been allocated the highest ever Rs 112899.47 crore in the budget. Due to this rise the budgetary allocation for higher education has also gone up at Rs 44,094.62 crore compared to Rs 40,828.35 crore in 2022-23.
The government has steered clear of a populist Budget in what is the last full Budget before the general elections scheduled next year, analysts said on Wednesday.
Cigarettes are set to become costlier as the National Calamity Contingent Duty (NCCD) on specified cigarettes has been revised in the Union Budget 2023-24.
Union Finance Minister Nirmala Sitharaman presented the Union Budget (2023-24) on Wednesday, which was her fifth consecutive budget and the last full budget in this government's tenure.
Finance Minister Nirmala Sitharaman on Wednesday said that the focus of the Union Budget 2023-24 is on women empowerment, green growth and artisans as well as the tourism sector.
The Central Armed Police Forces (CAPF) has got the lion's share from Rs 1.96 lakh crore allotted to the Ministry of Home Affairs (MHA) in the Union budget 2023-24, which was presented on Wednesday.
The Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday said the Budget 2023-24 presented by Union Finance Minister Nirmala Sitharaman will strengthen the fundamental pillars and ensure resilience, inclusivity and sustainability.
With aim to promote domestic manufacturing, Union Finance Minister Niramala Sitharaman, in Budget 2023-24, provided relief in customs duty on import of certain parts and inputs like camera lens and lithium-ion cells for batteries for mobile phones for another year.
Prime Minister Narendra Modi on Wednesday described the Union Budget as the "first Budget of Amrit Kaal" (the 25-year period from 2022 till 2047, when the country will celebrate 100 years of Independence), which would lay a strong foundation for a developed India.
On BSE, LIC was down more than 8 per cent, HDFC Life was down more than 10 per cent, Max Financial was down more than 9 per cent, SBI Life Insurance was down more than 9 per cent while ICICI Prudential Life Insurance was down more than 10 per cent.
A one stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity, said the government.
According to the Budget presented by Finance Minister Nirmala Sitharaman on Wednesday, the budgetary estimate for 2023-24 is Rs 2,05,513 crore, which is 30 per cent less than the revised estimate of Rs 2,96,303 crore for 2022-23.
For better targeting of tax concessions and exemptions, Finance Minister Nirmala Sitharaman capped deduction from capital gains on investment in residential houses under sections 54 and 54F to Rs 10 crore.
The Centre will appoint 38,800 teachers and staff for 740 Eklavya Model Schools, Union Finance Minister Nirmala Sitharaman announced this while presenting the Union budget in Parliament on Wednesday.
Preeti Sharma, Partner, Tax and Regulatory Services, BDO India, said that Finance Minister Nirmala Sitharaman has made conscious efforts to make the NTR more attractive for the taxpayers.
