The government plans to borrow a record Rs 15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy. This is higher than the total borrowing of Rs 14.21 lakh crore for the current financial year ending March 31, 2023. Finance Minister Nirmala Sitharaman while presenting the Budget [...]
The defence budget was increased to Rs 5.94 lakh crore for 2023-24 from last year's allocation of Rs 5.25 lakh crore. In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on Wednesday, a total of Rs 1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, [...]
The government on Wednesday announced 11 per cent hike in agriculture credit target to Rs 20 lakh crore for next fiscal year with focus on animal husbandry, dairy and fisheries. The agricultural credit target is Rs 18 lakh crore for the current 2022-23 fiscal. Among other big ticket announcements, Finance Minister Nirmala Sitharaman in her [...]
A revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1, Finance Minister Nirmala Sitharaman said on Wednesday. In her Budget 2023-24 presentation, she also said the Centre will launch the 'Dekho Apna Desh' initiative to promote domestic tourism. Further, the government will set up National [...]
The government is targeting 5 million tonnes (MT) of green hydrogen production by 2030, Finance Minister Nirmala Sitharaman announced on Wednesday in her Budget speech. She also said that the Budget provides for Rs 35,000 crore for priority capital investment towards energy transition and net zero objectives. The government would support setting up of battery [...]
Finance minister Nirmala Sitharaman on Wednesday announced that Pradhan Mantri-Promotion of Alternate Nutrients for Agriculture Management Yojana (PM-PRANAM) will be launched to incentivise states to promote alternative fertilisers. The move would help to encourage states to reduce use of fertilisers. She said that 30 Skill India international centres will be be set up and Pradhan [...]
The government will bring another dispute resolution scheme under Vivad Se Vishwas-2 to settle commercial disputes, finance minister Nirmala Sitharaman said on Wednesday. Presenting the Budget 2023-24, she also said a one stop solution for reconciliation and updating of identity of individuals would be established. The Vivad Se Vishwas scheme provides for settlement of disputed [...]
Finance Minister Nirmala Sitharaman on Wednesday announced launch of a new programme to promote research in pharmaceuticals with a view to promoting growth of the sector. She also said facilities in select ICMR (Indian Council of Medical Research) labs will be made available for research by public and private medical faculties. The domestic pharma industry [...]
Finance Minister Nirmala Sitharaman on Wednesday listed seven priorities of Union Budget 2023-24, including infrastructure, green growth, financial sector and youth power. She said four transformative opportunities can be used in Amrit Kaal for enhancing economic empowerment. The finance minister said digital public infrastructure for agriculture will be built as open source, open standard and [...]
The government made cash transfer of Rs 2.2 lakh crore under the PM-KISAN scheme, Finance Minister Nirmala Sitharaman said on Wednesday. Presenting the last full Budget of the second term of the BJP-led NDA government ahead of the general elections in 2024, she said the mission of the government is to achieve knowledge-driven economy. She [...]
