The Indian government is considering a significant boost to the "make in India" initiative by contemplating an extension of favorable corporate tax rates for new manufacturing companies. Media reports reveal that discussions are ongoing to potentially prolong the existing concession for one to two years. That means the current sunset clause, set to expire on march 31, 2024, could see an extension.

Budget 2024: Government to give 'Make in India' a big push | World Business Watch

Budget 2024: Focus on domestic manufacturing

The anticipation is high as we approach the Indian Budget 2024. Now we focus on the Fintech sector and the specific schemes that could reshape its trajectory. From innovations to inclusivity, the budget is expected to unfold crucial initiatives.

Fintech's expectations in Indian Budget 2024

The Union Budget holds the key to India's financial roadmap. We delve into the intricacies of one of its pivotal elements – the fiscal deficit. Our report uncovers the nuances of India's fiscal strategy for the upcoming financial year.

India Budget 2024: Decoding economic roadmap; focus on fiscal deficit

Let’s understand the nuances of the budget process. From planning to Parliamentary approval, this overview simplifies the process, offering a clear understanding of how the nation shapes its financial roadmap.

In-depth journey of crafting & approving the Indian budget | World Business Watch

It's 2024, and India's budget session is just a few weeks away. India is set to vote for a new government in April-May 2024. So, this year's budget holds a lot of political significance. But how will this year's budget be different from others?

India: Why 2024 budget will be different? Setting India's budget timelines | WION Newspoint

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1). The government has described the budget as the first of "Amrit Kaal", which pave the way for the nation to grow and achieve Prime Minister Narendra Modi's vision to make India a developed country in the next 25 years.

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1). The government has described the budget as the first of "Amrit Kaal", which pave the way for the nation to grow and achieve Prime Minister Narendra Modi's vision to make India a developed country in the next 25 years. The budget proposed changes to income tax slabs, a steep hike in capital investment, and also a mention of the healthcare sector. In the opening remarks of her speech, Sitharaman hailed the country-wide vaccination drive against coronavirus (COVID-19) in unparallel scale and speed. The finance minister praised India's rising global profile. She noted that several accomplishments, like unique world-class digital public infrastructure for example Aadhar, Co-Win & UPI, are responsible for such significant growth. The finance minister announced that dedicated multidisciplinary courses for medical devices will be supported in existing institutions to ensure the availability of skilled manpower for futuristic medical technologies, high-end manufacturing and research. She added that under health education and skilling, 157 new nursing colleges will be established in co-location with existing medical colleges established since 2014. The finance minister added that facilities in selective ICMR labs will be made available for research by public and private medical college faculty and private sector R&D teams for encouraging collaborative research and innovation. She added that a new programme for research and innovation in pharmaceuticals will be taken up through Centres of Excellence. Allocation of budget: Sitharaman announced that the health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, which is a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23. The budget allocation for the AYUSH ministry has been increased from Rs 2,845.75 crore to Rs 3,647.50 crore, which is a 28 per cent increase. Out of Rs 89,155 crore, Rs 86,175 crore has been allocated to the Department of Health and Family Welfare, while Rs 2,980 crore to the Department of Health Research. A new programme for research & innovation in pharmaceuticals will be taken up through Centres of Excellence. Dedicated multi-disciplinary courses for medical devices will be supported in the existing institutions: FM @NSitharaman Ji#AmritKaalBudget pic.twitter.com/tjtJZgejpq — Dr Mansukh Mandaviya (@mansukhmandviya) February 1, 2023 × India's rising global profile is because of several accomplishments like Unique world-class digital public infrastructure, e.g., Aadhar, Co-WIN & UPI. COVID vaccination drive conducted in unparallel scale & speed: FM @NSitharaman#AmritKaalBudget #UnionBudget2023 @PMOIndia pic.twitter.com/XSXZslttFf — Ministry of Health (@MoHFW_INDIA) February 1, 2023 × Mission to eliminate Sickle Cell Disease (SCD) Special mention was given to the mission's launch to eliminate sickle cell anaemia by 2047. The finance minister said that it will entail awareness creation, universal screening of 7 crore people in the age group 0 to 40 years in affected tribal areas and counselling through collaborative efforts. What is Sickle Cell Disease (SCD)? Sickle Cell Disease (SCD) is a genetic condition and is widespread among the tribal population in India and in other vulnerable populations. The Indian Health Minister Mansukh Mandaviya said that the tribals aged below 40 will be provided cards mentioning their sickle cell anaemia status. He said they would get pre-marital counselling about the risk of their child getting the disease if they marry another affected person. After the presentation of the budget, Mandaviya said that the government will take up the eradication of sickle cell anaemia in a mission mode. He also noted that the authorities will conduct massive screening in affected tribal areas for early detection of cases. "Going forward, the government will also issue cards after screening to tribal persons below 40 years affected by the disease mentioning their sickle cell anaemia status and also provide pre-marital counselling to make the patients aware of the detrimental effects of the disease if they marry another sickle cell anaemia patient and give birth," he said. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Union Budget 2023-24: Here's what healthcare sector got from the budget

The world is battling a climate emergency, stopping climate change is doable but time is running out. India is working to reduce carbon emission on a massive scale, presenting the budget, the country's Finance Minister Nirmala Sitharaman listed green growth as the key priority for the country.

WION Climate Tracker: India's focus on Green Growth, aims 'Net Zero' target by 2070

Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget&nbsp;plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment. Today, when the world is facing an impending economic recession due supply chain disruptions induced by the Russia-Ukraine war and&nbsp;Covid-19 pandemic, Union Budget 2023 will give the Indian economy and policymakers a clear direction and optimism to continue trudging the path of development and prosperity.&nbsp;

This is similar to India’s first-ever budget post-Independence when India was facing a host of challenges and the Union Budget gave the country’s efforts a much-needed direction. &nbsp;So, it becomes important to revisit India’s first-ever budget announcement that was presented just three months after India became an independent nation on 15th August 1947.&nbsp;

<h2>India’s first ever Union Budget post-Independence</h2>

The first Union Budget of India post-Independence was presented on November 26, 1947, just three months after India got independence from the British Empire. The nation's first Union Budget was delivered by RK Shanmukham Chetty, the then finance minister. The budget covered the time from August 1947 to March 1948, or around seven-and-a-half months. The statement reported a total of Rs 171.15 crore in income and expenses of Rs 197.29 crore throughout the year. Additionally, the fiscal deficit at that time was Rs 26.24 crore. Approximately 92.74 crore&nbsp;of the total funds were allocated for defence services.

<h2>India’s first-ever budget under British Empire</h2>

It must be noted that India’s first formal budget was presented under British Empire. The Budget was initially presented to the British Crown on April 7,1860, by Scottish economist and politician James Wilson from the East India Company. The British empire was struggling with finances after the great Indian mutiny or the First War of Independence fought in 1857-59. So, the budget was presented to better manage the Indian economy.

&nbsp;

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Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment.

Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment. Today, when the world is facing an impending economic recession due supply chain disruptions induced by the Russia-Ukraine war and Covid-19 pandemic, Union Budget 2023 will give the Indian economy and policymakers a clear direction and optimism to continue trudging the path of development and prosperity. This is similar to India’s first-ever budget post-Independence when India was facing a host of challenges and the Union Budget gave the country’s efforts a much-needed direction. So, it becomes important to revisit India’s first-ever budget announcement that was presented just three months after India became an independent nation on 15th August 1947. India’s first ever Union Budget post-Independence The first Union Budget of India post-Independence was presented on November 26, 1947, just three months after India got independence from the British Empire. The nation's first Union Budget was delivered by RK Shanmukham Chetty, the then finance minister. The budget covered the time from August 1947 to March 1948, or around seven-and-a-half months. The statement reported a total of Rs 171.15 crore in income and expenses of Rs 197.29 crore throughout the year. Additionally, the fiscal deficit at that time was Rs 26.24 crore. Approximately 92.74 crore of the total funds were allocated for defence services. India’s first-ever budget under British Empire It must be noted that India’s first formal budget was presented under British Empire. The Budget was initially presented to the British Crown on April 7,1860, by Scottish economist and politician James Wilson from the East India Company. The British empire was struggling with finances after the great Indian mutiny or the First War of Independence fought in 1857-59. So, the budget was presented to better manage the Indian economy. WATCH WION LIVE HERE

Union Budget 2023: When was India’s first Union Budget presented post Independence, revenue & expense details

Indian finance minister Nirmala Sitharaman on Wednesday (February 7) presented the Union Budget 2023-24 in the Parliament and listed the government's seven priorities for the budget.

Indian finance minister Nirmala Sitharaman on Wednesday (February 7) presented the Union Budget 2023-24 in the Parliament and listed the government's seven priorities for the budget. Addressing the Lok Sabha, finance minister Sitharaman said that these seven priorities complement each other. "Inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth and financial sector," she said. ALSO READ | Indian Union Budget 2023-24: Key highlights Here are the priorities listed by Finance Minister Nirmala Sitharaman: 1) Inclusive development: For Agricultural and Cooperatives: > Building digital public infrastructure > Setting up an agriculture accelerator fund > Atmanirbhar Bharat Horticulture Clean Plant programme to be launched. > Targeted funding > Making India a global hub for millets > Setting up of widely available storage capacity For Health: > As many as 157 new nursing colleges are to be established > Sickle Cell Anaemia Elimination Mission to be launched > New programme to promote research in pharmaceuticals to be launched > Joint public and private medical research to be encouraged via labs of the Indian Council of Medical Research (ICMR) For Education and Skilling: > Revamped Teachers' training via District Institutes of Education and Training > National Digital Library to be set up for children and adolescents > States will be encouraged to set up physical libraries at panchayat and ward levels Few other crucial factors under Inclusive development > Nine crore drinking water connections to rural houses > Cash transfer of Rs 2.2 lakh crore to over 11.4 crore farmers under the PM-Kisan Samman Nidhi scheme 2) Reaching the last mile: > Pradhan Mantri Particularly Vulnerable Tribal Group (PVTG) Development Mission to be launched > Financial assistance to be given for sustainable micro irrigation in drought-prone regions of Karnataka > More teachers to be recruited for 740 Eklavya Model Residential Schools > Shared Repository of Inscriptions (SHRI) to be set up for digitisation of ancient inscriptions ALSO READ | India Budget 2023: New Delhi's G20 presidency a 'unique opportunity', says Nirmala Sitharaman 3) Infrastructure and investment: > Increased capital expenditure outlay by 33.4 per cent to Rs 10 lakh crore > Continuation of 50-year-interest free loans to state governments to incentivise infrastructure investment > As many as 100 transport infrastructure projects identified for end-to-end connectivity for ports, coal, steel, and fertiliser sectors. > Creating urban infrastructure in Tier-2 and Tier-3 cities via the establishment of the Urban Infrastructure Development Fund (UIDF) 4) Unleashing the potential > Make Artificial Intelligence (AI) work for India by setting up centres of excellence > National Data Governance policy to be introduced > Less stringent contract execution for Ministry of Micro, Small and Medium Enterprises (MSMEs) > Easier and standardised settlement scheme > Third phase of E-Courts to be launched > Entity Digi Locker to be set up for use by business enterprises and charitable trusts > Setting up 100 labs for 5G services-based application development > R&D grant for Lab Grown Diamonds (LGD) sector 5) Green growth > PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth to be launched. > Sustainable ecosystem development > 500 new Waste to Wealth plants Few other crucial factors under green growth > Promotion of battery energy storage systems > Setting up 10,000 bio-inputs resource centres to facilitate farmers to adopt natural farming > Promotion of coastal shipping for energy-efficient transportation > Funds to be allocated for replacing old polluting vehicles 6) Youth power > Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 to be launched Will cover new courses such as coding, robotics, AI and 3D printing etc. > Measures to boost the tourism sector At least 50 destinations to be selected, through challenge mode, to be developed as a complete package for domestic and foreign tourists > States to be encouraged to set up Unity Malls ALSO READ | Union Budget 2023-24: Sitharaman's 5 announcements on personal income tax 7) Financial sector > Setting up of National Financial Information registry > Setting up of Central Data processing centre > Credit Guarantee scheme for MSMEs > Mahila Samman Bachat Patra > Benefits for senior citizens Fiscal Management > 50-year interest-free loans to states > Fiscal deficit of 3.5 per cent of GSDP allowed for states > Fiscal consolidation Targeted Fiscal Deficit to be below 4.5% by 2025-26 Tax Proposals > Simplification in indirect taxes > Changes to custom duty on import of capital goods for Li-ion battery manufacturing; import of mobile camera lens; denatured ethyl alcohol; key inputs for producing shrimp feed; seeds for manufacturing lab-grown diamonds; continuing concessional basic customs duty on copper scrap; and compounded rubber to bring it at par with natural rubber. Simplifying personal income tax > In the new tax regime, the income limit for the rebate of income tax increased from Rs 5 lakh to Rs 7 lakh > Highest surcharge rate on income above Rs 5 crore will be reduced from 37% to 25% (under the new tax regime). > Extending benefits of the standard deduction to the new regime for salaried class and pensioners > Increasing tax exemption limit to Rs 25 lakh on leave encashment on retirement for non-government salaried employees Simplifying tax benefits for industries: For MSMEs: > Enhanced limits for micro-enterprises and professionals to avail benefits of presumptive taxation; 95% receipts to be non-cash > Deduction on payments made to MSMEs will be allowed only when the payment is actually made For cooperatives: > Extending 15% corporate tax benefits to new cooperatives, commencing manufacturing till March 31, 2024. > Higher limit of Rs 2 lakh per member for deposits and loans in cash by Primary Agricultural Co-operative Societies (PACS) and Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) > Higher limit of Rs 3 crore for TDS on cash withdrawal for co-operative societies For startups: > Extension of date of incorporation by one year for income tax benefits to start-ups > Benefit of carry forward of losses on change of shareholding of start-ups from seven years of incorporation to ten years. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India Budget 2023-24: Finance minister Sitharaman lists govt’s seven priorities for new fiscal year

Union Budget 2023 LIVE:&nbsp;Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections. FM Nirmala Sitharaman called the 2023 Union Budget the 'First Budget in Amrit Kaal' and laid out the priorities of this year's budget.&nbsp;FM also mentioned that the Union Budget of 2023-24 symbolises the new inclusive India and will be a blueprint for India@100. One of the major highlights from Nirmala Sitharaman's speech was India's economic growth which is expected to be at 7% which is the highest among all the major growing economies.&nbsp;

The upcoming fiscal year will focus on seven priorities for the kick-off of the first year of the Amrit Kaal:

1. Inclusive development 
2. Reaching the last mile 
3. Infrastructure and investment 
4. Unleashing potential 
5. Green growth 
6. Youth Power 
7. Financial Sector

During her budget speech, Finance Minister Nirmala Sitharaman made announcements about some of the upcoming schemes and policies:&nbsp;

1.&nbsp;Pradhan Mantri Primitive Vulnerable Development Commission&nbsp;

2. New programme to promote research in pharmaceuticals

3. A national digital library for children and adolescents will be set up to facilitate quality books

4. The government also plans to set up massive decentralised storage capacity to help farmers&nbsp;

5. Facilities in select ICMR labs will be made available for research by public and private medical facilities&nbsp;

6. The government will set up a National Financial Information Registry to serve as a central repository of financial and ancillary information

7.&nbsp;To unleash innovation and research by Startups and Academia, a National Data Governance Policy will be brought out which will enable access to anonymised data

8.&nbsp;Three Centres of Excellences of Artificial Intelligence (AI) will be set up to in top educational institutions, leading industry players will partner in conducting interdisciplinary research, and develop cutting-edge applications and scalable problem solutions in the areas of health, agriculture and sustainable system.

9.&nbsp;A Mission to eliminate&nbsp;Sickle-Cell Anaemia&nbsp;by 2047 will be established. There will be screening of 7 crore people in the 0-40 years age group in affected tribal areas.&nbsp;

&nbsp;

&nbsp;

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Union Budget 2023 LIVE: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections.

Union Budget 2023 LIVE: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections. FM Nirmala Sitharaman called the 2023 Union Budget the 'First Budget in Amrit Kaal' and laid out the priorities of this year's budget. FM also mentioned that the Union Budget of 2023-24 symbolises the new inclusive India and will be a blueprint for India@100. One of the major highlights from Nirmala Sitharaman's speech was India's economic growth which is expected to be at 7% which is the highest among all the major growing economies. The upcoming fiscal year will focus on seven priorities for the kick-off of the first year of the Amrit Kaal: 1. Inclusive development 2. Reaching the last mile 3. Infrastructure and investment 4. Unleashing potential 5. Green growth 6. Youth Power 7. Financial Sector During her budget speech, Finance Minister Nirmala Sitharaman made announcements about some of the upcoming schemes and policies: 1. Pradhan Mantri Primitive Vulnerable Development Commission 2. New programme to promote research in pharmaceuticals 3. A national digital library for children and adolescents will be set up to facilitate quality books 4. The government also plans to set up massive decentralised storage capacity to help farmers 5. Facilities in select ICMR labs will be made available for research by public and private medical facilities 6. The government will set up a National Financial Information Registry to serve as a central repository of financial and ancillary information 7. To unleash innovation and research by Startups and Academia, a National Data Governance Policy will be brought out which will enable access to anonymised data 8. Three Centres of Excellences of Artificial Intelligence (AI) will be set up to in top educational institutions, leading industry players will partner in conducting interdisciplinary research, and develop cutting-edge applications and scalable problem solutions in the areas of health, agriculture and sustainable system. 9. A Mission to eliminate Sickle-Cell Anaemia by 2047 will be established. There will be screening of 7 crore people in the 0-40 years age group in affected tribal areas. WATCH WION LIVE HERE

India Budget 2023: Union govt’s ‘seven priorities’ and its new policies, schemes in the new fiscal

Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1).&nbsp;In her opening remarks, Sitharaman said that the Indian economy is on the right track and heading towards a bright future. She noted that the government's focus is on wide-ranging policies.&nbsp;The finance minister&nbsp;said, “Our current year's economic growth is seven per cent, which is the highest among all major economies.”&nbsp;

She said that the government efforts since 2014 have ensured a better quality of life and a life of dignity for all citizens. The per capita income has more than doubled to Rs 1.97 lakh. In these years, the Indian economy has increased in size from being 10th to the 5th largest in the world.&nbsp;

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Delhi | Finance Minister Nirmala Sitharaman presents <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a> 2023-24 
 
"This is the first Budget in Amrit Kaal," FM says. <a href="https://t.co/JEExXWl2Ko">pic.twitter.com/JEExXWl2Ko</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1620656219945078784?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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Ahead of the budget presentation, a Union Cabinet meeting chaired by Indian Prime Minister Narendra Modi was held in Parliament.&nbsp;

Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu.&nbsp;

The finance minister met the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget. This was the fifth budget presentation by Sitharaman since 2019.&nbsp;

The budget session of the Parliament had begun on Tuesday with the President's address, followed by the tabling of the Economic Survey for 2022-23.&nbsp;

The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10. The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22.&nbsp;

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Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1).

Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1). In her opening remarks, Sitharaman said that the Indian economy is on the right track and heading towards a bright future. She noted that the government's focus is on wide-ranging policies. The finance minister said, “Our current year's economic growth is seven per cent, which is the highest among all major economies.” She said that the government efforts since 2014 have ensured a better quality of life and a life of dignity for all citizens. The per capita income has more than doubled to Rs 1.97 lakh. In these years, the Indian economy has increased in size from being 10th to the 5th largest in the world. Delhi | Finance Minister Nirmala Sitharaman presents #UnionBudget 2023-24 "This is the first Budget in Amrit Kaal," FM says. pic.twitter.com/JEExXWl2Ko — ANI (@ANI) February 1, 2023 × Ahead of the budget presentation, a Union Cabinet meeting chaired by Indian Prime Minister Narendra Modi was held in Parliament. Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu. The finance minister met the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget. This was the fifth budget presentation by Sitharaman since 2019. The budget session of the Parliament had begun on Tuesday with the President's address, followed by the tabling of the Economic Survey for 2022-23. The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10. The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'First Budget in Amrit Kaal': Indian economy on the right track with GDP growth at 7%

The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by&nbsp;renewing its focus on the development of railways, roads, ports, and digital infrastructure.&nbsp;Presenting the last full Union Budget of the Modi government ahead of the 2024 general elections, Finance Minister Nirmala Sitharaman said that they have increased the infra outlay to Rs 10 lakh crore for 2023-24, which will be at 3.3 per cent of the Gross Domestic Product (GDP).&nbsp;

She added that an expert committee will be established to make infrastructure classification and financing framework suitable for 'Amrit Kaal' (Golden Era).&nbsp;

“The newly established infrastructure finance secretariat will assist in attracting more private investment,” the finance minister said.&nbsp;

On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti — National Master Plan, in a bid to develop an integrated infrastructure to reduce logistics costs.&nbsp;

All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.&nbsp;

The minister also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals.&nbsp;

The government’s focus has been to push capital expenditure to spur the economic growth that was hit by the Covid pandemic. It expects that the increase in public spending would result&nbsp;in private investment.&nbsp;

According to the Economic Survey presented by the government on Tuesday, a&nbsp;sustained increase in the private capex is also imminent with the strengthening of the balance sheets of the corporates and the consequent increase in credit financing it has been able to generate.&nbsp;

“Going by the capex multiplier estimated for the country, the economic output of the country is set to increase by at least four times the amount of the capex,” the Survey said.&nbsp;

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The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by renewing its focus on the development of railways, roads, ports, and digital infrastructure.

The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by renewing its focus on the development of railways, roads, ports, and digital infrastructure. Presenting the last full Union Budget of the Modi government ahead of the 2024 general elections, Finance Minister Nirmala Sitharaman said that they have increased the infra outlay to Rs 10 lakh crore for 2023-24, which will be at 3.3 per cent of the Gross Domestic Product (GDP). She added that an expert committee will be established to make infrastructure classification and financing framework suitable for 'Amrit Kaal' (Golden Era). “The newly established infrastructure finance secretariat will assist in attracting more private investment,” the finance minister said. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti — National Master Plan, in a bid to develop an integrated infrastructure to reduce logistics costs. All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative. The minister also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals. The government’s focus has been to push capital expenditure to spur the economic growth that was hit by the Covid pandemic. It expects that the increase in public spending would result in private investment. According to the Economic Survey presented by the government on Tuesday, a sustained increase in the private capex is also imminent with the strengthening of the balance sheets of the corporates and the consequent increase in credit financing it has been able to generate. “Going by the capex multiplier estimated for the country, the economic output of the country is set to increase by at least four times the amount of the capex,” the Survey said. WATCH WION LIVE HERE:

India Budget 2023: Govt increases capital expenditure by 33% for 2023-24 

Indian Union Budget 2023-24 LIVE: What's cheaper, What's costlier? Today, Finance Minister Nirmala Sitharaman presented the Indian Union Budget 2023-24 in the Parliament on Wednesday, February 1.

Indian Union Budget 2023-24 LIVE: What's cheaper, What's costlier? Today, Finance Minister Nirmala Sitharaman presented the Indian Union Budget 2023-24 in the Parliament on Wednesday, February 1. On January 31, the finance minister had presented the Economic Survey 2022-23 in Parliament. It was Nirmala Sitharaman's fifth Union Budget and the current government's last Union Budget before the Lok Sabha polls in 2024. In the second part of her 2023 Budget speech, Finance Minister Nirmala Sitharaman mentioned the relief or increase of custom duties on some items. Mobile phone production in India saw a significant increase in the last financial year. Thus, the finance minister proposed a relief on customs duty on imports of certain parts of mobile phones, including camera lenses and lithium-ion cells. Similarly, television components will become cheaper, as per the Indian Union Budget 2023. Before we move towards the items that saw a price change in the Indian Union Budget 2023, let's take a look at today's highlights. Indian Union Budget 2023: Cheaper & Costlier Items Here's the full list of items that got cheaper or costlier in Budget 2023-24. Cheaper Costlier camera lenses of mobile phones, laptops & DSLRs platinum, gold, and silver articles lithium ion batteries electric chimneys open cells of TV panels cigarettes heat coils compounded rubber crude glycerin diamond seeds Highlights of Indian Union Budget 2023: Finance Minister has called the Indian Union Budget 2023, the first budget of the Golden era. The projected economic growth is 7%, the highest among the major economies. Moreover, the Union Budget 2023 has seven priorities including infrastructure and investment. In the Union Budget for the fiscal year 2023, Finance Minister Nirmala Sitharaman covered topics like agriculture, employment, green growth, youth and the financial sector. During the presentation of the Union Budget 2023, Finance Minister Nirmala Sitharaman said, "The Indian economy has increased in size. It became the 5th largest from the 10th largest economy in the last nine years." The finance minister urged the state governments to set up Unity Malls in their respective cultural hubs. For the upcoming fiscal year, the government has laid a capital outlay of ₹2.4 lakh crore for Indian Railways, the highest ever for the department. The fiscal deficit is 5.9 per cent of the GDP for 2023-24, said Finance Minister Nirmala Sitharaman in her Union Budget speech. Indian Union Budget 2023-24: What's costlier? People have awaited the Union Budget 2023 as it directly impacts their daily lives. As the essential and non-essential items get cheaper or costlier, they affect the pockets of the common man. The rates of the items go up or down depending on the duty increases or decreases. Gold, silver and platinum will become pricier. Compounded rubber will also become more expensive. Last but not the least is bad news for smokers. Cigarettes will become costlier, according to the Indian Union Budget 2023. Indian Union Budget 2023-24: What's cheaper? Electric kitchen chimneys will become costlier, and heat coils will become cheaper. Denatured ethyl alcohol will become cheaper to support ethanol blending and energy transitions. Moreover, the Indian Union Budget 2023 makes things easier for the domestic fluro-chemical industries. Marine products, particularly shrimps, recorded the highest export growth in the last financial years and benefitted the farmers. Thus, the inputs for the domestic manufacturing of shrimps will become cheaper. Diamond seeds used in the manufacturing of lab-grown diamonds will become cheaper to promote the diamond industry in India. During her Indian Union Budget 2023 speech, the finance minister said that lab-grown diamond industry holds 'great promise for the nation.' Raw materials used in manufacturing CRGO steel, ferrous scrap, copper scraps and nickel cathode will become cheaper for promoting the industries. Here's the full list of items that got cheaper & costlier in 2022: Costlier Cheaper Headphones and earphones Mobile phone chargers Umbrella Frozen mussels Imitation Jewellery Frozen squids Smart meters Asafoetida Solar cells Cocoa beans Solar modules Methyl Alcohol X-ray machines Cut and polished diamonds Parts of electronic toys Camera lens for cellular mobile phone

Indian Union Budget 2023-24 LIVE: What's become cheaper & What's costlier? Check full list here

Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime. Addressing the Lok Sabha in Parliament, Sitharaman said, "I have five major announcements to make concerning personal income tax. These primarily benefit the hard-working middle class."&nbsp;

Sitharaman said that currently, those with income of Rs 5 lakh do not pay any income tax in both old and new regimes. "I propose to increase the rebate limit to Rs 7 lakhs in the new tax regime," she said, adding that people with income up to Rs 7 lakh will not have to pay any tax at all.&nbsp;

<a href="https://www.wionews.com/business-economy/budget-2023-live-updates-nirmala-sitharaman-to-present-union-budget-2023-24-in-parliament-today-557696">Click here to check all Highlights of Finance Minister Nirmala Sitharaman's Union Budget 2023-24 speech</a>

In the second proposal, Sitharaman said that she proposes to change the tax structure in the new personal income tax regime by reducing the number of slabs to five and increasing the tax exemption limit to three.&nbsp;

"For Personal Income Tax, the new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 lakh to 6 lakh&nbsp;- 5 per cent, Rs 6 lakh&nbsp;to 9 lakh&nbsp;- 10 per cent, Rs 9 lakh to 12 lakh&nbsp;- 15 per cent, Rs 12 lakh to 15 lakh&nbsp;- 20 per cent and above Rs 15 lakh&nbsp;- 30 per cent," she said.&nbsp;

Explaining the above point, the FM said that an individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000. This would be only five per cent of the individual's income.&nbsp;

"My third proposal is for the salaried class and the pensioners, including family pensioners, for whom I propose to extend the benefit of the standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus standby to benefit by Rs 52,000," Sitharaman told Parliament.&nbsp;

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The finance minister's fourth announcement was regarding the highest tax rate in India which is at 42.74 per cent, which is among the highest in the world. "I propose to reduce the highest surcharge from 37% to 25 % in the new tax regime. This would result in the reduction of the maximum rate to 39 per cent."

The fifth and last announcement was regarding the limit for tax exemption on leave encashment on the retirement of non-government salaried employees. Sitharaman told Parliament that the limit of Rs 3 lakh for tax exemption for such employees was last fixed in 2002 when the highest basic pay in the government was Rs 30,000 per month. "In line with the increase in government salaries, I am proposing to increase this limit to Rs 25 lakh."&nbsp;

"We are also making the new income tax regime the default tax regime, however, citizens will continue to have the option to avail the benefits of the old tax regime," Sitharaman pointed out. Apart from the above, Sitharaman also said she was making some other changes as given in the Annexure.&nbsp;

She said that as per a result of these above proposals, the revenue of about Rs 38,000 crore – Rs 37,000 crore in direct taxes and Rs 1,000 crore in indirect taxes-would be forgone while revenue of about Rs 3,000 crore will be additionally mobilised. The total revenue forgone is about Rs 35,000 crore annually.&nbsp;

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Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime.

Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime. Addressing the Lok Sabha in Parliament, Sitharaman said, "I have five major announcements to make concerning personal income tax. These primarily benefit the hard-working middle class." Sitharaman said that currently, those with income of Rs 5 lakh do not pay any income tax in both old and new regimes. "I propose to increase the rebate limit to Rs 7 lakhs in the new tax regime," she said, adding that people with income up to Rs 7 lakh will not have to pay any tax at all. Click here to check all Highlights of Finance Minister Nirmala Sitharaman's Union Budget 2023-24 speech In the second proposal, Sitharaman said that she proposes to change the tax structure in the new personal income tax regime by reducing the number of slabs to five and increasing the tax exemption limit to three. "For Personal Income Tax, the new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 lakh to 6 lakh - 5 per cent, Rs 6 lakh to 9 lakh - 10 per cent, Rs 9 lakh to 12 lakh - 15 per cent, Rs 12 lakh to 15 lakh - 20 per cent and above Rs 15 lakh - 30 per cent," she said. Explaining the above point, the FM said that an individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000. This would be only five per cent of the individual's income. "My third proposal is for the salaried class and the pensioners, including family pensioners, for whom I propose to extend the benefit of the standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus standby to benefit by Rs 52,000," Sitharaman told Parliament. Personal Income Tax from the Budget speech of Finance Minister Nirmala Sitharaman. (Source: Govt of India) pic.twitter.com/dYEeRjQ6Nt — ANI (@ANI) February 1, 2023 × The finance minister's fourth announcement was regarding the highest tax rate in India which is at 42.74 per cent, which is among the highest in the world. "I propose to reduce the highest surcharge from 37% to 25 % in the new tax regime. This would result in the reduction of the maximum rate to 39 per cent." The fifth and last announcement was regarding the limit for tax exemption on leave encashment on the retirement of non-government salaried employees. Sitharaman told Parliament that the limit of Rs 3 lakh for tax exemption for such employees was last fixed in 2002 when the highest basic pay in the government was Rs 30,000 per month. "In line with the increase in government salaries, I am proposing to increase this limit to Rs 25 lakh." "We are also making the new income tax regime the default tax regime, however, citizens will continue to have the option to avail the benefits of the old tax regime," Sitharaman pointed out. Apart from the above, Sitharaman also said she was making some other changes as given in the Annexure. She said that as per a result of these above proposals, the revenue of about Rs 38,000 crore – Rs 37,000 crore in direct taxes and Rs 1,000 crore in indirect taxes-would be forgone while revenue of about Rs 3,000 crore will be additionally mobilised. The total revenue forgone is about Rs 35,000 crore annually. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Union Budget 2023-24: Sitharaman's 5 announcements on personal income tax

All eyes are on the budget session of the Indian Parliament which is scheduled to begin on Tuesday, as the opposition parties look to corner the government over inflation, the economy, the Adani-Hindenburg row, and other pressing economic issues.

The Prime Minister Narendra Modi-led government has, however, asserted that it is willing to discuss any issue as long as proper rules are followed.

The session will kick-start with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament—Lok Sabha (Lower House) and Rajya Sabha (Upper House).

In her speech, she will mostly highlight the government's achievements and policy priorities for the current year.

After the president’s address, the Economic Survey will also be tabled on Tuesday.

On Wednesday, Finance Minister Nirmala Sitharaman will present the last full-fledged Union Budget of the Modi government before the 2024 Lok Sabha elections The Budget session will have 27 sittings.

The first part of the budget session will end on February 14. Then on March 12, the Parliament will reconvene for the second part of the session which will continue till April 6.

The government plans to bring around 36 bills —including four related to the budgetary exercise — during the session.

On the eve of the much-anticipated session, the opposition parties and the ruling BJP held an all-party meeting on Monday where they raised the Adani issue and the conduct of governors in some states ruled by the saffron party.

While several regional parties expressed their intention to raise issues relating to unemployment, price rise and the Centre's alleged bias in sharing revenue with states, Parliamentary Affairs Minister Pralhad Joshi said the government has always been positive to discussing every topic but maintained that it should be held under the rules and with the Speaker’s permission.

"We seek the opposition's cooperation in running Parliament smoothly," Joshi told reporters after the meeting which was attended by 37 leaders, representing 27 parties. Defence Minister Rajnath Singh and Commerce and Industry Minister Piyush Goyal were among others who attended the meeting.

As most Congress leaders were busy with the Bharat Jodo Yatra's conclusion, the main opposition party was not represented at the all-party meeting. A Congress leader who had to be present could not reach. Minister Joshi said its floor leaders are likely to meet him on Tuesday to convey their views.

(With inputs from agencies)

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All eyes are on the budget session of the Indian Parliament which is scheduled to begin on Tuesday, as the opposition parties look to corner the government over inflation, the economy, the Adani-Hindenburg row, and other pressing economic issues.

All eyes are on the budget session of the Indian Parliament which is scheduled to begin on Tuesday, as the opposition parties look to corner the government over inflation, the economy, the Adani-Hindenburg row, and other pressing economic issues. The Prime Minister Narendra Modi-led government has, however, asserted that it is willing to discuss any issue as long as proper rules are followed. The session will kick-start with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament—Lok Sabha (Lower House) and Rajya Sabha (Upper House). In her speech, she will mostly highlight the government's achievements and policy priorities for the current year. After the president’s address, the Economic Survey will also be tabled on Tuesday. On Wednesday, Finance Minister Nirmala Sitharaman will present the last full-fledged Union Budget of the Modi government before the 2024 Lok Sabha elections The Budget session will have 27 sittings. The first part of the budget session will end on February 14. Then on March 12, the Parliament will reconvene for the second part of the session which will continue till April 6. The government plans to bring around 36 bills —including four related to the budgetary exercise — during the session. On the eve of the much-anticipated session, the opposition parties and the ruling BJP held an all-party meeting on Monday where they raised the Adani issue and the conduct of governors in some states ruled by the saffron party. While several regional parties expressed their intention to raise issues relating to unemployment, price rise and the Centre's alleged bias in sharing revenue with states, Parliamentary Affairs Minister Pralhad Joshi said the government has always been positive to discussing every topic but maintained that it should be held under the rules and with the Speaker’s permission. "We seek the opposition's cooperation in running Parliament smoothly," Joshi told reporters after the meeting which was attended by 37 leaders, representing 27 parties. Defence Minister Rajnath Singh and Commerce and Industry Minister Piyush Goyal were among others who attended the meeting. As most Congress leaders were busy with the Bharat Jodo Yatra's conclusion, the main opposition party was not represented at the all-party meeting. A Congress leader who had to be present could not reach. Minister Joshi said its floor leaders are likely to meet him on Tuesday to convey their views. (With inputs from agencies) WATCH WION LIVE HERE:

Indian Parliament’s budget session to begin on Tuesday; oppn look to corner govt on price rise, Adani

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not&nbsp;electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1.

India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022.

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She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians.

One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent.

Also Read | <a href="https://www.wionews.com/opinions-blogs/decoding-how-rbis-digital-rupee-will-impact-the-indian-economy-449859">Decoding how RBI’s Digital Rupee will impact the Indian economy</a>

Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear.

Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had&nbsp;been taking note of situation across sectors of the economy&nbsp;

Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1. India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022. × She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians. One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent. Also Read | Decoding how RBI’s Digital Rupee will impact the Indian economy Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear. Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had been taking note of situation across sectors of the economy Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India Union Budget 2022 was not made with elections in mind: Finance Minister Nirmala Sitharaman

The Afghan envoy to Delhi Farid Mamundzay has welcomed the provision of Rs 200 crore made in the Indian budget on Tuesday for his country. The announcement comes even as August last year saw Taliban takeover of Afghanistan, and there hasn't been any recognition of the regime in Kabul by India. In the past as well, Indian budget has seen allocation for Afghanistan, and for other countries in the region. Financial year 2021-2022 saw allocation of Rs 350 crore for the country. Afghan envoy Farid Mamundzay speaking to WION's sidhant Sibal, he said that the announcement "comes at a very crucial time, at a time when many countries have turned back to Afghanistan and India has been forthcoming to support Afghan people in the difficult time". He highlighted that the "Rs 200 crore rupees assistance for development, is something we greatly appreciate and additionally Rs 100 crore budget for the development of Chabahar port is yet another initiative that has been welcomed by the Afghan business community, so we thank the Indian govt for usual generosity and India is proving to be formidable and tested partner." Since 2001, after US invasion India had emerged as Afghanistan biggest aid supporter in the region and has been involved in mega infrastructure projects in the country including Afghan parliament and the India Afghanistan friendship dam in Herat.

Envoy Farid Lauds Rs 200 Crore provision for Afghanistan in the India Budget

India Budget 2022: Finance Minister Nirmala Sitharaman presents her fourth Union Budget and second one under the shadow of Covid-19 pandemic. India looks for a booster dose to the economy after a Covid-battered year. Stay tuned for all live updates.

India Budget 2022: Finance Minister Nirmala Sitharaman presents her fourth Union Budget

WION in an exclusive conversation with Simon Lee, co-director at Chinese enterprise programme, the focus on infrastructure, employment and investment, listen in.

Budget 2022 should win confidence of investors, focus on infrastructure, employment & investment

Finance Minister Nirmala Sitharaman announced that Special Economic Zones (SEZ) Act will be replaced with new legislation. She said that the move aimed "for the development of enterprise and hubs".

India Budget 2022: We will undertake reforms in customs administration of SEZ - Nirmala Sitharaman

Among the host of announcements, this morning FM, of India addressed concerns of the MSME sector. Finance minister Sitharaman in a budget speech, today said raising and accelerating MSME performance will be rolled out in the coming five years.

India Budget 2022: Program would improve the competitiveness and productivity of MSMEs

India's budget for 2022 gives a blueprint of the economy for the next 25 years. With a key focus on four main pillars of development, i.e., inclusive development, productivity enhancement, energy transition, and climate action.

India Budget 2022: 4 main pillars of development highlighted

WION talks to Narayan Shroff, Investment Head at Barclays, Mumbai. Watch this report to know his reaction to the Union Budget 2022.

India Budget 2022: Budget continues to provide an impetus for growth

To give a boost to the gems & jewellery sector customs duty on cut and polished diamonds and gemstones is being reduced to five per cent, says Finance Minister Nirmala Sitharaman.

India Budget 2022: Customs duty on cut and polished diamonds, gems to be reduced to 5% - Nirmala Sitharaman

In a big boost to the economy, the digital rupee - using blockchain and other technology - will be introduced by the central bank in 2022-23, Finance Minister Nirmala Sitharaman.

Indian Budget 2022: Digital Rupee to be issued using blockchain and other technologies - Nirmala Sitharaman

In her Budget 2022 address, Union Finance Minister Nirmala Sitharaman talked about rolling out the next phase of ease of doing business and ease of living.

India Budget 2022: Next phase of ease of doing business to be launched - Nirmala Sitharaman

What will be India's growth rate in 2021? What is 2021's global growth forecast? Will inflation rate decline in 2021? What is the growth recipe for 2021?

India Budget 2021: What will be India's growth rate in 2021?

What do vaccines mean for economic recovery? Is the economic outlook as bright as the financial markets? What are the pitfalls in post-pandemic economic recovery? Catch WION's special broadcast on India Budget 2021 with Gautam Chikermane. January 25-30, At 7 PM IST

India Budget 2021: Vaccines are here, will economic recovery follow?

US President Donald Trump will inaugurate the world's largest cricket stadium when he arrives in Ahmedabad. Authorities in Ahmedabad expect to spend around 120 crore for Trump's 3 hour visit.

Trump India Visit:3 hours visit in Ahmedabad cost 120 crore

During the Union Budget announcement on February 1, Twitter witnessed 11 lakh related tweets between January 30 and February 3, 2020. According to Twitter, The Economic Survey, which was also released during the same, also continued to trend on the website for a while.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/business-economy/20-key-budget-highlights-you-must-know-278059" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/20-key-budget-highlights-you-must-know-278059&amp;sa=U&amp;ved=2ahUKEwiL5tvTrrznAhU0yzgGHfqYAg4QFjAAegQIBRAB&amp;usg=AOvVaw11NKz5U2TGTn-UBDdYbWP-" dir="ltr" href="https://www.wionews.com/business-economy/20-key-budget-highlights-you-must-know-278059" target="_blank">20 key Budget highlights you must know</a>

According to Twitter, there were 12 live streams of the budget on the website using a feature called the ''caurosel'', which facilitated conversations among policymakers, influencers, and journalists.

This year's Budget speech was also the longest speech ever made by a Finance Minister in the history of India.

The conversation on Twitter wasn't restricted just to the English language, as local languages including Hindi, Marathi, and Tamil also brought some traction to the portal.

<h6><img alt="ppppp" data-entity-type="file" data-entity-uuid="f017a6ad-5004-495e-9a2a-805de1e7a432" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%284%29_31.jpg" /> 
In this handout photograph taken and released by India's Presidential Palace on February 1, 2020, Finance Minister Nirmala Sitharaman (R) poses for photographs along with President Ram Nath Kovind (C) at Rashtrapati Bhavan - the Presidential Palace, before presenting at the Parliament the 2020 union budget, in New Delhi | AFP 
&nbsp;</h6>

In the budget, over Rs&nbsp;17,300 crore has been allocated for the Ministry of External Affairs, with Rs 100 crore earmarked for the strategic Chabahar Port project in southeastern Iran that gives India connectivity to Afghanistan bypassing Pakistan.

The total aid to countries has decreased by about Rs 56 crore from Rs 6,963 revised estimates of 2019-20 to Rs 6,907crore in Budget 2020-21.

While Nepal saw a cut of Rs 400 crore in aid by India from Rs 1,200 crore in 2019-20 to Rs 800 crore in 2020-21, Myanmar saw a hike in allocation from Rs 170 crore in 2019-20 to Rs 300 crore for the next fiscal.

The aid for the strategically-important Chabahar Port which was zero in the revised estimates of 2019-20 has gone up to Rs 100 crore for the next fiscal.

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The Port complex, backed by India, on Iran's coast along the Gulf of Oman is being developed to provide an alternative trade route between India and Afghanistan.

The aid allocation for Bhutan has gone up from Rs 2,674.51 crore in 2019-20 to Rs 2,884.65 crore in the next fiscal.

Aid allocation to the Maldives has been reduced by Rs 75 crore to Rs 1,025 crore in the next fiscal.

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In the budget 2020-21, aid allocation for African countries is Rs 350 crore, Rs 200 crore for Bangladesh and Sri Lanka, Rs 140 crore for Seychelles, Rs 20 crore to Latin American countries and Rs 2 crore to Mongolia.

The primary hashtag used to consolidate all things budget, users employed #UnionBudget2020 and #IndiaBudget2020.

During the Union Budget announcement on February 1, Twitter witnessed 11 lakh related tweets between January 30 and February 3, 2020. According to Twitter, The Economic Survey, which was also released during the same, also continued to trend on the website for a while.

During the Union Budget announcement on February 1, Twitter witnessed 11 lakh related tweets between January 30 and February 3, 2020. According to Twitter, The Economic Survey, which was also released during the same, also continued to trend on the website for a while. Also read: 20 key Budget highlights you must know According to Twitter, there were 12 live streams of the budget on the website using a feature called the ''caurosel'', which facilitated conversations among policymakers, influencers, and journalists. This year's Budget speech was also the longest speech ever made by a Finance Minister in the history of India. The conversation on Twitter wasn't restricted just to the English language, as local languages including Hindi, Marathi, and Tamil also brought some traction to the portal. In this handout photograph taken and released by India's Presidential Palace on February 1, 2020, Finance Minister Nirmala Sitharaman (R) poses for photographs along with President Ram Nath Kovind (C) at Rashtrapati Bhavan - the Presidential Palace, before presenting at the Parliament the 2020 union budget, in New Delhi | AFP In the budget, over Rs 17,300 crore has been allocated for the Ministry of External Affairs, with Rs 100 crore earmarked for the strategic Chabahar Port project in southeastern Iran that gives India connectivity to Afghanistan bypassing Pakistan. The total aid to countries has decreased by about Rs 56 crore from Rs 6,963 revised estimates of 2019-20 to Rs 6,907crore in Budget 2020-21. While Nepal saw a cut of Rs 400 crore in aid by India from Rs 1,200 crore in 2019-20 to Rs 800 crore in 2020-21, Myanmar saw a hike in allocation from Rs 170 crore in 2019-20 to Rs 300 crore for the next fiscal. The aid for the strategically-important Chabahar Port which was zero in the revised estimates of 2019-20 has gone up to Rs 100 crore for the next fiscal. The Port complex, backed by India, on Iran's coast along the Gulf of Oman is being developed to provide an alternative trade route between India and Afghanistan. The aid allocation for Bhutan has gone up from Rs 2,674.51 crore in 2019-20 to Rs 2,884.65 crore in the next fiscal. Aid allocation to the Maldives has been reduced by Rs 75 crore to Rs 1,025 crore in the next fiscal. Also read: Budget 2020: Find out what will you lose in new tax regime In the budget 2020-21, aid allocation for African countries is Rs 350 crore, Rs 200 crore for Bangladesh and Sri Lanka, Rs 140 crore for Seychelles, Rs 20 crore to Latin American countries and Rs 2 crore to Mongolia. The primary hashtag used to consolidate all things budget, users employed #UnionBudget2020 and #IndiaBudget2020.

Twitter recorded 11 lakh-Budget related tweets between Jan 30-Feb 3

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