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Budget proposes Rs 1 trn corpus to boost investment in sunrise technologies
The Union Finance Minister Nirmala Sitharaman, while presenting the Interim Budget 2024-25, also proposed a new scheme for strengthening deep-tech technologies for defence purposes and expediting ‘atmanirbharta’.Read more
Interim budget 2024-25: Govt plans Rs 11.11 trillion capex for this year
FM Nirmala Sitharaman proposed setting up of a corpus of Rs one trillion for India’s tech savvy youth. For railways, three major economic railway corridor programmes - energy, mineral and cement corridors, port connectivity corridors, and high traffic density corridors - will be implemented.Read more
IESA proposes key reforms for India's Energy Storage Sector ahead of budget session
This initiative aims to extend electricity access across the country. In the previous year's Union Budget, Viability Gap Funding for 4GWh of projects was announced as part of a $4 billion 'Green Growth' package.Read more
Govt set to extend 15% tax rate for new manufacturing units until 2025
This potential announcement is anticipated in the upcoming Interim Budget on February 1, with the aim of stimulating the manufacturing sector, attracting fresh investments, and simplifying compliance procedures.Read more
EY forecasts extension of 15% corporate tax rate in 2024 budget
EY predicts that the interim Budget may push back the deadline for commencing manufacturing from March 31, 2024, to March 31, 2025, for companies benefiting from the 15% concessional income tax rate.Read more
Record-Breaking budget plan for Indian Railways overhaul in 2024-25
The capital expenditure (capex) for the railways is poised for a substantial increase, projected to be around 25% higher than the 2023-24 budget estimates.Read more
Steel Industry urges govt action to stem rising imports in interim budget
The steel ministry is reportedly assessing the feasibility of implementing World Trade Organization (WTO)-compliant policy measures if steel dumping is identified, primarily from China and select Southeast Asian countries.Read more
India extends auto PLI Scheme, boosts budget to Rs 25,938 Crore
The PLI scheme provides financial incentives to promote investments in the automotive manufacturing sector and enhance domestic production of Advanced Automotive Technology (AAT) products.Read more
CPSE Capital Expenditure hits 52% of budget target in H1 FY 2023-24
As of September 30, 2023, the achieved expenditure is approximately 51.71% of the estimated full-year expenditure of Rs 7.33 lakh crore for the fiscal year 2023-24.Read more
Central govt commits to sustaining capital spending despite fiscal deficit concerns
The official emphasised that the Central government's objective is to encourage departments to accelerate capital expenditure (capex) in the current fiscal year to support economic growth.Read more