The shares of Apar Industries Limited opened at Rs 1,770 levels and zoomed by 13 percent to reach a new 52-week high of Rs 1,999.90 in the early hours of the Budget day. In the past three sessions, the stock has gained more than 35 percent. In Q3FY23, the company reported consolidated total revenue from [...]
Hotel stocks rallied on Wednesday after the honourable Finance Minister Nirmala Sitharaman announced various initiatives to boost the tourism industry in India. As of 15:00 hours IST, the Tata-owned Indian Hotels Company was up 7.81% to Rs 324.50. Similarly, EIH Ltd. and Lemon Tree Hotels were trading higher with 7.45% and 5.75% intra-day gains respectively. [...]
The capital outlay for the railways has been increased to the highest-ever Rs 2.40 lakh crore in the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman said on Wednesday. Presenting the budget in Lok Sabha, Sitharaman said the outlay for the railways is nine times the amount provided in 2013-2014. She said 100 critical transport [...]
The IMF has expressed concern that Pakistan's opposition parties might create hurdles in the way of implementing the tough economic decisions of the cash-strapped Shehbaz Sharif-led government, media reports said on Wednesday. The views of the global lender came as a high-level delegation led by the International Monetary Fund (IMF) Mission Chief Nathan Porter on [...]
The government on Wednesday said 50 additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity in the country. The announcement was made by finance minister Nirmala Sitharaman while presenting the Union Budget for 2023-24. Over the past few years, the government has been taking various initiatives, especially [...]
The green energy sector remained a priority in the Budget 2023 as the country intends to attain net-zero carbon emissions by 2070 and a reduction in the carbon intensity of the economy of the country of less than 45% by 2030. The government is focused on a ‘green growth’ strategy that prioritizes the adoption of [...]
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes. Fully imported cars, including electric vehicles, and those assembled in India with imported parts [...]
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, [...]
Finance Minister Nirmala Sitharaman has laid down the much-awaited Budget 2023. During her speech, the minister announced a few major reforms for the development of key sectors in India. Out of them, the Agriculture sector remained in focus. The agriculture sector in India still remains a primary source of livelihood for about 58% of the [...]
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 [...]
The finance minister Nirmala Sitharaman started the Budget 2023 session in the parliament today by saying, “This is the first Budget of Amrit Kaal”. Here are the top ten points from her budget speech: Agriculture Growth: To boost agricultural growth in the nation, the agricultural credit target limit has been increased to Rs 20 lakh [...]
During the budget of 2023-23, the Finance Minister has announced a steep increase on the National calamity cess on cigarettes and tobacco causing the shares of ITC, Godfrey Phillips, and VST Industries of decline as of Wednesday The Government has increased the National calamity cess on cigarettes to 16%. The last time the government had [...]
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 [...]
The shares of Gujarat Fluorochemicals started trading marginally lower at Rs 2,769 levels. In a month the stock has shed 12 percent in a month. However, in a two years time frame, the stock has delivered a multibagger return of 387 percent. Gujarat Fluorochemicals Limited (GFL) is an Indian Chemicals Company that holds expertise in [...]
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 [...]
