List of Union Budget Articles

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

The term Union Budget came to the fore because India is the Union of States. The Constitution of India has established the federal form of Government in India. Therefore, it is called the Union of States.

Stock markets have responded blandly to the Interim Budget. At 2:25 p.m. on interim budget day, 1st February, 2024, Nifty 50 is down by 0.046%. Sensex is down by 0.086%.

One of the few sectors for which government announced incentives in the Interim Budget is the seafood exports sector.

The hospitality industry was among the industries most severely hit by Covid lockdowns. The industry expects more incentives from the Interim Budget. One of its key expectations is that GST rates on hotel rooms should be lowered. Currently, GST rate on hotel rooms is 12% for rooms priced below Rs 7,500. For rooms that are priced above Rs 7,500 per night, the GST rate is […]

The key feature of Interim Budget 2024 is that it reiterated government’s commitment to fiscal consolidation and conservatism. It has set 5.1% fiscal deficit target for FY 25. For FY 26, the budget has projected fiscal deficit target of 4.6% of GDP. For FY 24, the revised estimate of fiscal deficit target has been kept at 5.8% of GDP. Fiscal deficit target as a % […]

In the interim budget, the central government may opt for increasing allocation to Pradhan Mantri Awas Yojna (PMAY) or affordable housing scheme. Increasing allocation to this scheme is justified on the ground that higher interest rates have increased the cost of home loans for Indians. In the past two years, demand for middle income category housing has gone down because of higher interest rates. On […]

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

In order to give a boost to manufacturing, in 2019, the Government announced 15% corporate tax rate for new manufacturing companies that are set up before 31

A demand of the oil & gas industry from the budget is to eliminate the import duty on natural gas. Currently, import of natural gas has an import duty levy of between 2.5% and 5%, depending on the form of its import. On the other hand, import of crude oil attracts 0% import duty. Elimination of import duty on natural gas will make it cheaper […]

The Indian Union Budget is prepared by the Ministry of Finance in consultation with Niti Aayog and other concerned ministries. Also, the Budget division of the department of economic affairs (DEA) in the finance ministry is the nodal body responsible for producing the Budget.