Budget

India’s Defence Budget has increased year on year for replacement of ageing and obsolete defence equipment, Minister of State for Defence Jayadev Galla said in a written reply to Lok Sabha on 26 June 2019.

Representatives of Digital Economy and Start-ups have shared their views and made suggestions regarding Big Data, data mining, building of digital infrastructure as the big challenge before Indian economy besides scaling-up and incentivising Research & Development (R&D) within India.

Issues relating to bring in more capital to the infrastructure sector such as highways, railways, telecom, auto-mobile and incentives for electric vehicles were highlighted during Finance Minister Nirmala Sitharaman Pre-Budget Consultation Meeting with stakeholders from Infrastructure and Climate Change Sectors.

Finance Minister Nirmala Sitharaman has discussed with the Financial Sector and Capital Markets' stakeholders issues relating to the banks, NBFCs, and Alternative Investment Funds (AIFs) among others during a Pre-Budget Consultations Meeting in New Delhi.

Finance Minister Nirmala Sitharaman is focused on measures to boost Economic and Social Infrastructure of Rural Sector and ways to eradicate unemployment and poverty through development of Agriculture and Allied Sectors as well as Non-Farm Sector.

The Confederation of Indian Industry (CII) called for lowering corporate tax rates, maintaining the peak rate of customs duty, kickstarting Government expenditure, and rationalising TDS as well as dispute resolution provisions.

The Interim Budget, announced on 1 Feb 2019, addresses both the current challenges faced by the economy and outlines the vision for the future, said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

India’s interim Budget for FY20, announced 1 Feb 2019, suggests that the economic priorities have taken precedence over near-term fiscal consolidation as the 3% of GDP fiscal target stands delayed, writes Radhika Rao, Economist at DBS’ Group Research in Singapore.

The Interim Budget, announced 1 Feb 2019, was a balanced budget for real estate, even though it was clearly configured as a crowd-pleasing electoral pitch with a cursory nod towards the ongoing challenges in the economy.

The government is considering an increase in the budgetary allocation for research and development to boost the steel sector, Steel Minister Chaudhary Birender Singh has told the business community.