Tag - India budget

Amid tensions with China, defense budget hiked to ₹ 5.94 Lakh Cr


New Delhi: India proposed ₹ 5.94 trillion ($72.6 billion) in defense spending for the 2023-24 financial year, 13% up from the previous period's initial estimates, aiming to add more fighter jets and roads along its tense border with China. Finance Minister Nirmala Sitharaman allocated Rs1.63 trillion for defense capital outlays - an expenditure that would include...

Not Amrit Kaal, but ‘Mitr Kaal Budget’: Rahul Gandhi


New Delhi: Congress leader Rahul Gandhi termed Finance Minister Nirmala Sitharaman's Amrit Kaal Bu dget as 'Mitr Kaal' Budget implying that it will only benefit the rich with nothing for the poor and the unemployed population of the country. As Sitharaman presented her 5th Budget on Feb 1 in Parliament, she termed it as the first budget...

India’s FY22 budget has potential to lift growth: Fitch


Mumbai: India's FY22 budget has the potential to lift economic prospects, as higher expenditure will support the near-term recovery and increased infrastructure spending could boost sustainable medium-term growth rates, said Fitch Ratings. Accordingly, the ratings agency pointed out that labor market and agricultural reforms that were legislated in September 2020 could also lift medium-term growth. However,...

Thrifty Budget: India proposes mega spending push


New Delhi: Finance Minister Nirmala Sitharaman has proposed to unleash a massive fiscal expansion in 2021-22 on the back of fire sales and cesses, to revive India's pandemic-battered economy. Accordingly, she proposed to increase the capital expenditure by 34 per cent in Budget 2021-22 in comparison to the previous fiscal BE (Budget Estimate). In her Budget...