Ajay Seth, Secretary at Department of Economic Affairs under Ministry of Finance said fiscal consolidation by way of gliding down on fiscal deficit path is being done while meeting all essential expenditure.
The industry leaders said that the continued capital expenditure-led growth, like spending on infrastructure, and housing will spur growth. The industry leaders further added that the budget also provides some degree of demand stimulus by giving certain tax reliefs, particularly the middle c
The central government kept the capital expenditure outlay at Rs 11.11 lakh crore for 2024-25, as was announced by Union Finance Minister Nirmala Sitharaman in her interim Budget, ahead of the General elections.
Union Finance Minister Nirmala Sitharaman will present a statement of estimated receipts and expenditures of the Union Territory of Jammu and Kashmir for 2024-25 after presenting the General Budget of the year.
According to a press release by the Ministry of Finance, the Survey indicates that the latest National Health Accounts (NHA) estimates for FY20 reveal an increase in both the share of Government Health Expenditure (GHE) in the total GDP and the share of GHE in Total Health Expenditure (THE).
The Survey projects achievable GDP growth for FY25, driven by robust macroeconomic management and a supportive policy environment emphasizing capital expenditure and inflation control.
The Economic Survey 2023-24, released by Finance Minister Nirmala Sitharaman on Monday, reveals a significant decline in expenditure on food and fertiliser subsidies, which fell by 24.6 per cent and 22.4 per cent respectively in FY24. Additionally, the expenditure on major subsidies decrease
The fiscal buffer from the Reserve Bank of India's (RBI) excess dividend, amounting to 0.4 per cent of GDP, is likely to be disproportionately allocated towards the rural, farm, and welfare sectors, with a slight increase in capex.
The Federation of Indian Chambers of Commerce & Industry (FICCI) has anticipated that the government might reform the taxation system in the union budget, aimed at stimulating economic growth.
This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (BSE) briefly surpassed USD 5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong.
According to an exchange filing, the demand covers assessment years from 2015-16 to 2022-23, following assessment and re-assessment orders issued on July 12.
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