Live Updates : From The News Room

Union Budget 2023 LIVE Updates: Income tax rebate extended on income up to Rs 7 lakh

India

Finance Minister Nirmala Sitharaman has presented the Union Budget for 2023-24 in Parliament today. The FM presented her fifth straight Union Budget today. It was be the last full-fledged budget of Modi government ahead of the crucial 2024 Lok Sabha elections.  

Earlier on Tuesday, Sitharaman presented the Economic Survey 2023 in Parliament. The Budget Session had commenced with the President addressing both Houses of Parliament in a joint session.

Union Budget 2023

22:33 PM(1 year ago )

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Union Budget: Odisha to get Rs 3,261 crore more as its share in Central Taxes and Duties 

Posted by: Rashmi Ranjan

Odisha will get Rs3,261.85 crore more under the State’s share in Central Taxes and Duties. Such an estimation has been made in the 2023-24 budget documents.

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18:16 PM(1 year ago )

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Budget 2023: Boost of 334.72 cr in highest ever in sports budget ahead of Asian Games, Paris Olympics

Posted by: Rashmi Ranjan

With an increase of 334.72 cr, the government on Wednesday in the Union Budget allocated Rs 3,397.32 crore to the Sports Ministry for 2023-2024 -- a cycle in which the Indian athletes will compete at the Asian Games and prepare for 2024 Paris Olympics.

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17:40 PM(1 year ago )

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1275 stations are being re-developed under 'Amrit Bharat Station': Ashwini Vaishnaw

Posted by: Rashmi Ranjan

Rs 2.41 lakh crore allocated for Railways. It's a big change and it will fulfill the aspirations of passengers. Under 'Amrit Bharat Station' scheme, 1275 stations are being re-developed. Production of Vande Bharat trains will be revamped: Railways Minister Ashwini Vaishnaw 

17:34 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: Know the Priority No 7- ‘Financial Sector’ 

Posted by: Rashmi Ranjan

Finance Minister Nirmala Sitharaman on Wednesday said that reforms in the financial sector and innovative use of technology have led to financial inclusion at scale, better and faster service delivery, ease of access to credit and participation in financial markets.

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16:42 PM(1 year ago )

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'Saptarishi' in Union Budget 2023: Centre’s focus on ‘Youth Power’; all you must know

Posted by: Rashmi Ranjan

To empower youth and help the ‘Amrit Peedhi’ realize their dreams, the government has formulated the National Education Policy, said Finance Minister Nirmala Sitharaman while presenting the Budget 2023.

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16:39 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: 'Green Growth' - Know components of this Priority No 5

Posted by: Rashmi Ranjan

In her Union Budget address, Finance Minister Nirmala Sitharaman on Wednesday said that Prime Minister Narendra Modi has given a vision for “LIFE”, or Lifestyle for Environment, to spur a movement of environmentally conscious lifestyle.

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16:24 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: Priority No 4- 'Unleashing the potential '

Posted by: Rashmi Ranjan

rime Minister Narendra Modi said Good Governance is the key to a nation’s progress. Our government is committed to providing a transparent and accountable administration which works for the betterment and welfare of the common citizen," said Finance Minister Nirmala Sitharaman during the Budget session.

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16:22 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: Priority No 3- Infrastructure and Investment

Posted by: Rashmi Ranjan

After the subdued period of the Covid-19 pandemic, private investments are growing again in the country. Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023 on Wednesday said that investments in infrastructure and productive capacity have a large multiplier impact on growth and employment.

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16:03 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: Focus on ‘Reaching the Last Mile’

Posted by: Rashmi Ranjan

Prime Minister Atal Vajpayee’s government had set up the Ministry of Tribal Affairs and the Department of Development of North-Eastern Region, said Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023 on Wednesday. 

Read full story... 

16:02 PM(1 year ago )

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EVs to get cheaper, Centre proposes Customs duty exemption on batteries

Posted by: Rashmi Ranjan

The Central government on Wednesday said that to further provide impetus to green mobility, Customs duty exemption is being extended to the import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles -- a move hailed by the EV industry players.

Read full story...

15:49 PM(1 year ago )

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'Saptarishi' in Union Budget 2023-24: Inclusive Development-Know Priority No 1 

Posted by: Rashmi Ranjan

The government’s philosophy of Sabka Saath Sabka Vikas has facilitated inclusive development, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2023-24 in the Parliament on Wednesday. 

Read full story here...

15:06 PM(1 year ago )

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Centre extends tax holiday for homegrown startups till March 31, 2024

Posted by: Poonam Singh

The Centre on Wednesday announced to extend the tax holiday scheme for startups till March 31, 2024, which means that startups incorporated till the latest date next year can avail tax benefits. Read more...

15:03 PM(1 year ago )

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Budget for stipend to 47 lakh youth under apprenticeship scheme

Posted by: Poonam Singh

To give impetus to the youth and help the 'Amrit Peedhi' realise their dreams, Finance Minister Nirmala Sitharaman on Wednesday said that the government has formulated the National Education Policy, focused on skilling, adopted economic policies that facilitate job creation at scale and to support business opportunities.

In her Budget 2023-24 speech in Parliament, the Minister also announced the roll-out direct benefit transfer under a pan-India National Apprenticeship Promotion Scheme to provide stipend support to 47 lakh youth in three years.

The Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth within the next three years and emphasise on on-job training, industry partnership, and alignment of courses with needs of industry.

"The scheme will also cover new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills," Sitharaman said.

(IANS)

14:57 PM(1 year ago )

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National Green Hydrogen Mission: India sets target of 5 MMT annual production by 2030

Posted by: Poonam Singh

"India is moving forward firmly for the 'panchamrit' and net-zero carbon emission by 2070 to usher in green industrial and economic transition", said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget in Parliament on Wednesday. Read more...

14:50 PM(1 year ago )

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Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement

Posted by: Poonam Singh

Economic growth is expected to slide in the current fiscal, even as India is among the bright spots in the prevailing global scenario marred by fluid geopolitical circumstances, as per the Fiscal Policy statement presented by Finance Minister Nirmala Sitharaman along with the Union Budget on Wednesday.

Nominal GDP is expected to grow at 15.4 per cent year-on-year in 2022-23 as against 19.5 per cent in 2021-22, while the real GDP is projected to grow by 7 per cent in the current fiscal year-on-year against 8.7 per cent in 2021-22, it said. Read more...

14:43 PM(1 year ago )

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KYC norms to be simplified, PAN to become common identifier

Posted by: Poonam Singh

For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal is proposed to be established, Finance Minister Nirmala Sitharaman announced in Union Budget 2023-24 on Wednesday. Read more...

 

14:34 PM(1 year ago )

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Department of Space to get Rs 12,543.91 crore for FY24

Posted by: Poonam Singh

The government has proposed an allocation of Rs 12,543.91 crore to the Department of Space for year 2023-24.

The allocation is for the Department of Space and other organisations under it like the Indian Space Research Organisation (ISRO) and its centres, Indian National Space Promotion and Authorisation Centre - the regulator for the private sector space players - and others. Read more...

13:48 PM(1 year ago )

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GOBARdhan scheme to promote circular economy with investment of Rs 10,000 cr: FM

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Wednesday said 500 new waste to wealth' plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme will be established for promoting circular economy.

These will include 200 compressed biogas (CBG) plants, including 75 plants in urban areas, and 300 community or cluster-based plants at total investment of Rs 10,000 crore. Read more...

13:46 PM(1 year ago )

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New deposit scheme for women, limits for senior citizens increased

Posted by: Poonam Singh

For commemorating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025, Finance Minister Nirmala Sitharaman said while announcing the Union Budget 2023-24 on Wednesday. Read More...

13:45 PM(1 year ago )

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Reduction in customs duty rates on goods

Posted by: Poonam Singh

To promote exports and enhance domestic manufacturing, Finance Minister Nirmala Sitharaman during her Budget speech on Wednesday announced a reduction in customs duty rates on various commodities and products. Read more...

13:29 PM(1 year ago )

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No tax on income up to Rs 7 lakh, standard deduction allowed under new tax regime

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Wednesday tweaked the slabs to provide some relief to the middle class by announcing that no tax would be levied on annual income of up to Rs 7 lakh under the new tax regime.

She also allowed a Rs 50,000 standard deduction to taxpayers under the new regime, where assessees cannot claim deductions or exemptions on their investments. Read more...

13:28 PM(1 year ago )

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India to set up data embassies for digital continuity with world: FM

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Wednesday announced that the government will set up Data Embassies in the country to facilitate seamless digital transfers and continuity for other nations.

Data embassies create a new approach to securing data by leveraging diplomatic agreements bolstered by cloud technology solutions. Read more...

13:28 PM(1 year ago )

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India to set up data embassies for digital continuity with world: FM

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Wednesday announced that the government will set up Data Embassies in the country to facilitate seamless digital transfers and continuity for other nations.

Data embassies create a new approach to securing data by leveraging diplomatic agreements bolstered by cloud technology solutions. Read more...

13:14 PM(1 year ago )

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Union Budget sets capex outlay at all-time high

Posted by: Poonam Singh

The total capex outlay in the Union Budget for 2023-24 has been enhanced by 33 per cent from Rs 7.5 lakh crore to Rs 10 lakh crore which takes it to an all-time high of 3 per cent of GDP. Read more...
 

13:09 PM(1 year ago )

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Youth Empowerment: PMKVY 4.0 to be launched, 30 Skill IICs to be set up

Posted by: Poonam Singh

Aiming to empower youth and help them realise their dreams, PMKVY 4.0 will be launched to skill lakhs of youths within the next 3 years, Union Finance Minister Nirmala Sitharaman announced in her Budget speech on Wednesday.

She said that the government will launch Prime Minister Kaushal Vikas Yojana 4.0 (PMKVY 4.0) to skill youth over the period of next three years. Read more...

12:50 PM(1 year ago )

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Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister

Posted by: Poonam Singh

The government will launch a programme in a mission mode to eliminate sickle cell anaemia by 2047, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in the Parliament on Wednesday. Read more...

12:48 PM(1 year ago )

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FM announces 15,000 cr development fund for tribal, marginalised section

Posted by: Poonam Singh

The Centre has launched a 15,000 crore development fund for the tribal and marginalised section, Finance Minister Nirmala Sitharaman announced on Wednesday.

"Pradhan Mantri PVTG(particularly vulnerable tribal groups) Development Mission is being launched to improve the socio-economic condition of the vulnerable groups. A total of Rs 15,000 crore will be made available to implement the scheme in the next three years." the FM announced in her Union Budget 2023 speech. Read more...

12:47 PM(1 year ago )

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Railways gets Rs 2.40L cr capital outlay, the highest ever

Posted by: Poonam Singh

Indian Railways received a major boost from the Union Budget 2023-24 being presented by Union Finance Minister Nirmala Sitharaman in the Parliament on Wednesday.

The Finance Minister in her Budget speech announced that Indian Railways will get a capital outlay of Rs 2.40 lakh crore, the highest ever till date, which will help roll out major projects, including new Vande Bharat trains, electrification of railway lines and others. Read more...
 

12:44 PM(1 year ago )

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Three centres of excellences on AI soon at top educational institutions: FM

Posted by: Poonam Singh

In the ChatGPT era, Finance Minister Nirmala Sitharaman on Wednesday announced the government will open three centres of excellence for artificial intelligence (AI) at top educational institutions. Read More...

12:43 PM(1 year ago )

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Pradhan Mantri Aawas Yojana outlay hiked by 66% to Rs 79,000 cr

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the outlay for the Pradhan Mantri Aawas Yojana (PMAY) to Rs 79,000 crore. Read More...

12:38 PM(1 year ago )

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Tax exemption raised to Rs 3 lakh in the new regime

Posted by: Pradeep Singh
Union Budget 2023Union Budget 2023

12:32 PM(1 year ago )

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Revised fiscal deficit is at 6.4% of GDP

Posted by: Pradeep Singh

The revised fiscal deficit is at 6.4% of GDP, said FM Nirmala Sitharaman.

- Direct Benefit Transfer under a pan India national apprenticeship scheme will be rolled out to provide support to 47 lakh youths in 3 years

- 100 critical transport infrastructure projects for last and first mile connectivity for ports, coal, steel, fertilizer and food grain sectors to be taken up on priority with investment of Rs. 75000 crores, including Rs. 15000 crores from pvt. sources

- To bring the fiscal deficit below 4.5% of GDP by 2025-26 

- Promotion of tourism will be taken up on mission mode. Sickle cell anaemia to be eliminated by 2047. 157 new nursing colleges will be set up in the country in co-location with the medical colleges established since 2014

- Mahila Samman Saving Certificate to be available till March 2025

12:27 PM(1 year ago )

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PM Kaushal Vikas Yojana 4.0 to skill youths

Posted by: Pradeep Singh
Budget 2023Budget 2023

12:24 PM(1 year ago )

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100 critical transport infrastructure projects

Posted by: Pradeep Singh

A total of 100 critical transport infrastructure projects for last and first mile connectivity for ports, coal, steel, fertilizer and food grain sectors will be taken up on priority with investment of Rs. 75000 crore, including Rs 15000 crores from private sources.

12:23 PM(1 year ago )

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157 new nursing colleges to be established in core locations

Posted by: Pradeep Singh

A mission to eliminate sickle cell Anemia by 2047 will be launched entailing awareness creation & universal screening of 7 crore people in affected tribal areas, says Finance Minister.

12:06 PM(1 year ago )

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Capital investment outlay increased to 10 lakh crores

Posted by: Ramakanta Biswas

Capital investment outlay is being increased steeply for the third year in a row, by 33%, to Rs. 10 lakh crores, which would be 3.3% of GDP, this will almost be 3 times outlay made in 2019-20, announced Finance Minister.  

11:58 AM(1 year ago )

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Green fuel, green energy for efficient use of energy

Posted by: Ramakanta Biswas

We are implementing programs like green fuel, green energy etc. for efficient use of energy across economic sectors These green growth efforts help in reducing carbon intensity of economy & provide large-scale job opportunities, said Finance Minister.  

11:47 AM(1 year ago )

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FM announces PM Matsya Sampada Yojana

Posted by: Ramakanta Biswas

New sub scheme of PM Matsya Sampada Yojana, with targeted investment of Rs. 6000 crores, to further enable activities of fishermen, fish vendors and micro and small entrepeneurs, improve value chain efficiences and expand the market, said FM Nirmala Sitharaman.

11:43 AM(1 year ago )

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38,800 teachers, support staff recruitment in Eklavaya Model Residential Schools

Posted by: Ramakanta Biswas

In the next 3 years, the Centre will recruit 38,800 teachers and support staff for 740 Eklavaya Model Residential Schools which are serving 3.5 lakh tribal students, said FM Nirmala Sitharaman. 

11:40 AM(1 year ago )

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PM Awaas outlay being hiked to Rs 79,000 crores

Posted by: Ramakanta Biswas

The outlay for PM Awaas Yojana is being enhanced by 66% to over Rs 79,000 crores, informed Finance Minister Nirmala Sitharaman.  

11:36 AM(1 year ago )

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PM Vishwa Karma Kaushal Samman for artisans

Posted by: Ramakanta Biswas

FM Nirmala Sitharaman said PM Vishwa Karma Kaushal Samman - package of assistance for traditional artisans and craftspeople has been conceptualized. It will enable them to improve quality, scale and reach of their products, integrating with MSME value chain.

11:33 AM(1 year ago )

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Agriculture Accelerator Fund to encourage agri startups

Posted by: Ramakanta Biswas

Finance Minister Nirmala Sitharaman said Agriculture Accelerator Fund will be set up to encourage agri startups by young entrepreneurs in rural areas. It will bring innovative and affordable solutions for farmers' challenges and will also enhance profitability and bring modern tech. 

11:26 AM(1 year ago )

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Tourism promotion on mission mode

Posted by: Ramakanta Biswas

Promotion of tourism will be taken up on mission mode with active participation of states, the convergence of Govt programs and public-private partnerships, informed Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023. 

11:23 AM(1 year ago )

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Priorities of Budget 2023-24

Posted by: Ramakanta Biswas

Finance Minister Nirmala Sitharaman declared that the priorities of Budget 2023-24 are inclusive development, reaching the last mile, infra & investment, unleashing the potential, green growth, youth and financial sector.  

11:19 AM(1 year ago )

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FM stresses 'janbhagidari' through 'sabka saath, sabka prayaas'

Posted by: Ramakanta Biswas

Our vision for the Amrit Kaal includes a technology-driven and knowledge-based economy, with strong public finances and a robust financial sector. To achieve this 'janbhagidari' through 'sabka saath, sabka prayaas' is essential, said Finance Minister Nirmala Sitharaman.

11:16 AM(1 year ago )

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Per capita income has more than doubled to Rs 1.97 lakh, says FM

Posted by: Ramakanta Biswas

While presenting the Union Budget, Finance Minister said the government's efforts since 2014 have ensured for all citizens, a better quality of life and life of dignity. The per capita income has more than doubled to Rs 1.97 lakh. In these 9 years, the Indian economy has increased in size from being 10th to 5th largest in the world.

11:14 AM(1 year ago )

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India's economic growth estimated at 7 pc: FM

Posted by: Ramakanta Biswas

This budget hopes to build on the foundation laid in the previous budget and the blueprint drawn for India at 100. The current year’s economic growth is estimated to be at 7%. The economy is on the right track despite challenges and our focus on wide-ranging reforms helped us perform well in these trying times, the Finance Minister said.

11:03 AM(1 year ago )

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Finance Minister Nirmala Sitharaman presents Union Budget 2023-24

Posted by: Ramakanta Biswas

Union Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 financial year. 

11:02 AM(1 year ago )

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Union Cabinet approves Budget 2023-24

Posted by: Poonam Singh

The Union Cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday approved the Budget 2023-24 ahead of it being tabled by Finance Minister Nirmala Sitharaman in Parliament.

Before the cabinet meeting, Sitharaman along with Minister of States Pankaj Chaudhary and Bhagwat Karad met President Droupadi Murmu.

"Union Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman, MoS Dr Bhagwat Kishanrao Karad, MoS Shri Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget 2023-24," the President tweeted.

10:39 AM(1 year ago )

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Copies of Union Budget 2023 arrive at Parliament

Posted by: Ramakanta Biswas

The copies of the Union Budget 2023 were brought to the Parliament ahead of the presentation of the budget by the Finance Minister.  A sniffer dog sniffed the copies of Budget documents.  
 

10:22 AM(1 year ago )

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Union Cabinet meeting begins at Parliament

Posted by: Ramakanta Biswas

Union Cabinet meeting chaired by Prime Minister Narendra Modi began at the Parliament. After the approval of the Budget 2023 by the Cabinet, it will be presented in Parliament by Finance Minister Nirmala Sitharaman. 

10:20 AM(1 year ago )

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PM Modi, Home Minister, Defence Minister arrive at Parliament 

Posted by: Ramakanta Biswas

Prime Minister Narendra Modi, Union Home Minister Amit Shah and Defence Minister Rajnath Singh arrived at the Parliament. A Union Cabinet meeting will be held here shortly. Following this, Union Finance Minister Nirmala Sitharaman will present the #UnionBudget2023 at the Parliament, at 11 am.

10:02 AM(1 year ago )

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FM reaches Parliament  

Posted by: Ramakanta Biswas

Union Finance Minister Nirmala Sitharaman arrived at the Parliament. A Union Cabinet meeting will be held here at 10 am following which the Finance Minister will present the Union Budget 2023 in the Parliament at 11 am. 
 

09:07 AM(1 year ago )

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FM at Rashtrapati Bhavan

Posted by: Ramakanta Biswas

Finance Minister Nirmala Sitharaman reached Rashtrapati Bhavan to call on President Murmu ahead of the presentation of the Union Budget for the 2023-24 financial year. The FM will then attend the Union Cabinet meeting, and then present Union Budget 2023-24.

08:39 AM(1 year ago )

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Nirmala Sitharaman arrives at Ministry of Finance

Posted by: Ramakanta Biswas

Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance, ahead of the presentation of the Union Budget 2023-24. Earlier, MoS Finance Dr Bhagwat Kishanrao Karad arrived at the Ministry of Finance.

21:20 PM(1 year ago )

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India one of the fastest-growing insurance markets in the world: Economic Survey

Posted by: Nitesh Kumar Sahoo

India is one of the fastest-growing insurance markets in the world and is expected to emerge as one of the top six insurance markets by 2032, according to the Economic Survey 2022-23 that was presented in the Parliament on Tuesday.

Digitisation of India's insurance market, accompanied by an increase in FDI limit for insurance companies, is likely to facilitate an increased flow of long-term capital, a global technology, processes, and international best practices, which will support the growth of India's insurance sector.

Also, as we move to a high middle-income economy, India's pension sector has tremendous scope for growth. Government initiatives towards enhancing pension literacy of subscribers and intermediaries, and a nudge from the regulator and the government to encourage young adults to join the pension scheme would play a significant role in enhancing pension availability to a more extensive section of the society, the Economic Survey said.

Click HERE to read full story

21:15 PM(1 year ago )

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Economic Survey prescribes slew of further reforms to accelerate growth

Posted by: Nitesh Kumar Sahoo

Further reforms are needed to ensure that economic growth can both accelerate and be sustained at higher levels, to deliver a better quality of life, Economic Survey 2022-23 said.

The deregulation and simplification of compliances should continue to dismantle the licensing, inspection, and compliance regime entirely, the Survey said.

State governments have to address power sector issues, and the financial viability concerns of the discoms have to be addressed.

Click HERE to read full story

18:24 PM(1 year ago )

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Rupee not weakened, it is US dollar that has strengthened: Eco Survey

Posted by: Nitesh Kumar Sahoo

It is not that the rupee has weakened, but it is the US dollar that has strengthened. No matter how many tweets are written against that observation, it is a fact, the Economic Survey 2022-23 reiterated.

On a financial year basis, that is, from April to December 2022, the rupee has depreciated against dollar by 8.3 per cent.

Over the same period, the dollar has appreciated by 4.4 per cent in terms of the dollar index.

This holds even on a calendar year basis, that is, from January to December 2022, the rupee has depreciated by 10.8 per cent whereas the dollar has appreciated by 6.4 per cent.

Click HERE to read full story.

17:34 PM(1 year ago )

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Fiscal deficit expected to be 6.4% of GDP in 2022-23, says economic survey

Posted by: Pradeep Singh

Fiscal deficit is expected to be at 6.4 per cent of GDP in 2022-23, according to the Economic Survey 2022-23, tabled in Parliament by Finance Minister Nirmala Sitharaman on Tuesday.

15:29 PM(1 year ago )

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Eco Survey says need to measure women's unpaid domestic work

Posted by: Poonam Singh

The common narrative of Indian women's low (Labour Force Participation Rate) LFPR misses the reality of working females integral to the economy of the household and the country, the Economic Survey for 2022-23 said.

There is a need to broaden the horizon of measuring work, which constitutes the whole universe of productive activities alongside employment.

According to the latest ILO standards, limiting productive work to labour force participation is narrow and only measures work as a market product.

It does not include the value of women's unpaid domestic work, which can be seen as expenditure-saving work such as collecting firewood, cooking, tutoring children, etc., and contributes significantly to the household's standard of living, the Economic Survey said.

Thus, a wholesome measurement of "work" may require improved quantification through redesigned surveys.

(IANS)

15:29 PM(1 year ago )

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Eco Survey says need to measure women's unpaid domestic work

Posted by: Poonam Singh

The common narrative of Indian women's low (Labour Force Participation Rate) LFPR misses the reality of working females integral to the economy of the household and the country, the Economic Survey for 2022-23 said.

There is a need to broaden the horizon of measuring work, which constitutes the whole universe of productive activities alongside employment.

According to the latest ILO standards, limiting productive work to labour force participation is narrow and only measures work as a market product.

It does not include the value of women's unpaid domestic work, which can be seen as expenditure-saving work such as collecting firewood, cooking, tutoring children, etc., and contributes significantly to the household's standard of living, the Economic Survey said.

Thus, a wholesome measurement of "work" may require improved quantification through redesigned surveys.

(IANS)

15:28 PM(1 year ago )

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Foodgrain production touched a record 315.7 mn tonnes in 2021-22, says Economic Survey

Posted by: Poonam Singh

India's foodgrain production touched a record 315.7 million tonnes in 2021-22 despite climate change challenges, said the Economic Survey 2022-23 tabled in Parliament by Finance Minister Nirmala Sitharaman on Tuesday. Read More..,

15:26 PM(1 year ago )

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Decline in demand for MGNREGA emanating from growth in rural economy

Posted by: Poonam Singh

Year-on-Year (YoY) decline in monthly demand for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) work is emanating from normalisation of the rural economy due to strong agricultural growth and a swift bounce-back from Covid-19, the Economic Survey for 2022-23 has said.

Labour markets have recovered beyond the pre-Covid levels, in both urban and rural areas, as observed in the supply-side and demand-side employment data, the Survey said.

Quarterly urban employment data shows progress beyond pre-pandemic levels as the unemployment rate declined from 8.3 per cent in July-September 2019 to 7.2 per cent in July-September 2022.

Reflecting rising formalisation of employment, net addition to EPFO payroll is steadily moving upward after swiftly rebounding from Covid-19, with the majority share coming from the youth. As per Annual Survey of Industries 2019-20, employment in the organised manufacturing sector has maintained a steady upward trend over time, with the employment per factory also increasing gradually.

Employment has been rising faster in factories employing more than 100 workers than in smaller ones, suggesting scaling up of manufacturing units.

(IANS)

15:25 PM(1 year ago )

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22 cr beneficiaries under Ayushman Bharat as significant rise in govt spending: Eco Survey

Posted by: Poonam Singh

Social sector witnessed a significant increase in government spending, the Economic Survey presented by Finance Minister Nirmala Sitharaman on Tuesday noted.

Nearly 22 crore beneficiaries have been verified under the Ayushman Bharat Scheme as on 4 January, 2023. Over 1.54 lakh health and wellness centres have also been operationalised across the country.

The survey says that the Central and State Government's budgeted expenditure on the health sector touched 2.1 per cent of GDP in FY23 (BE) and 2.2 per cent in FY22 (RE) against 1.6 per cent in FY21.

Social sector expenditure increases to Rs 21.3 lakh crore in FY23 (BE) from Rs 9.1 lakh crore in FY16.

Survey highlights the findings of the 2022 report of the UNDP on Multidimensional Poverty Index which says that 41.5 crore people exited poverty in India between 2005-06 and 2019-20.

15:24 PM(1 year ago )

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22 cr beneficiaries under Ayushman Bharat as significant rise in govt spending: Eco Survey

Posted by: Poonam Singh

Social sector witnessed a significant increase in government spending, the Economic Survey presented by Finance Minister Nirmala Sitharaman on Tuesday noted.

Nearly 22 crore beneficiaries have been verified under the Ayushman Bharat Scheme as on 4 January, 2023. Over 1.54 lakh health and wellness centres have also been operationalised across the country.

The survey says that the Central and State Government's budgeted expenditure on the health sector touched 2.1 per cent of GDP in FY23 (BE) and 2.2 per cent in FY22 (RE) against 1.6 per cent in FY21.

Social sector expenditure increases to Rs 21.3 lakh crore in FY23 (BE) from Rs 9.1 lakh crore in FY16.

Survey highlights the findings of the 2022 report of the UNDP on Multidimensional Poverty Index which says that 41.5 crore people exited poverty in India between 2005-06 and 2019-20.

15:23 PM(1 year ago )

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Eco Survey says GDP growth to be 6.5% in 2023-24

Posted by: Poonam Singh

India is set to witness a baseline GDP growth of 6.5 per cent as per real terms in 2023-24, according to the economic survey for 2022-23, which was laid in Parliament by Finance minister Nirmala Sitharaman on Tuesday. Read More...

15:23 PM(1 year ago )

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Eco Survey says GDP growth to be 6.5% in 2023-24

Posted by: Poonam Singh

India is set to witness a baseline GDP growth of 6.5 per cent as per real terms in 2023-24, according to the economic survey for 2022-23, which was laid in Parliament by Finance minister Nirmala Sitharaman on Tuesday. Read More...

15:22 PM(1 year ago )

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Highway construction up from 6,061 km in FY16 to 10,457 km in FY22: Eco Survey

Posted by: Poonam Singh

There has been an increase in the construction of National Highways (NHs) and roads over time, with 10,457 km of roads constructed in FY22 as compared to 6,061 km in FY16. Read more..

13:21 PM(1 year ago )

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Economic Survey pegs FY24 GDP growth at 6-6.8%

Posted by: Pradeep Singh

India’s economy to grow 6.5%in 2023-24, compared to 7% this fiscal and 8.7% in 2021-22. India Economic Survey has pegged FY24 GDP growth at 6-6.8%.
 

13:09 PM(1 year ago )

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We have to build 'Aatmanirbhar' India: Prez Murmu in her 1st address to Parliament

Posted by: Pradeep Singh

The Budget session of Parliament got underway on Tuesday with the maiden address of President Droupadi Murmu to a joint sitting of both Houses. While addressing the members of both Houses, the President said... Read More

12:16 PM(1 year ago )

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'Awakened aspirations of SCs, STs & OBCs'

Posted by: Pradeep Singh

The government has awakened the aspirations of the Scheduled Castes, Scheduled Tribes and Other Backward Classes. Now that basic facilities are reaching them, these people are able to see new dreams... Today, on one hand, India is taking its ancient knowledge of Yoga and Ayurveda to the world. On the other hand, it is enhancing its new identity as 'pharmacy of the world', President Droupadi Murmu to the joint sitting of Parliament.

12:13 PM(1 year ago )

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'Tough stand taken against terrorism'

Posted by: Pradeep Singh

Today, the world understands the tough stand taken against terrorism by India. This is the reason why today India's being heard seriously by the world on the issue of terrorism. India holds the presidency of the G20 this year. Along with all member states of G20, India aims to find solutions to world problems, said President Murmu.

12:04 PM(1 year ago )

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'Pro-poor govt, sensitive towards women empowerment'

Posted by: Pradeep Singh

"I'm delighted that my Government has decided to extend PM Garib Kalyan Anna Yojana in accordance with the new circumstances. This is the identity of a sensitive and pro-poor government. Women empowerment has been at the core of all schemes introduced by my Government. Today, we're seeing the success of 'Beti Bachao, Beti Padhao'. For the first time in the country, the number of women is more than men and the health of women has also improved more than before, President Murmu to Parliament.

12:01 PM(1 year ago )

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'Emphasis on innovation and entrepreneurship'

Posted by: Pradeep Singh

On one side Ayodhya Dham being developed and on the other side, a modern Parliament is being constructed. While redevelopment of Kedarnath Dham and development of Kashi Vishwanath Dham corridor and Mahakal project have been completed, simultaneously, medical colleges are being set up in every district. The government has continuously laid unprecedented emphasis on innovation and entrepreneurship. Today, our youth are showing the power of their innovation to the world, President Droupadi Murmu to the joint sitting of Parliament.

President MurmuPresident Murmu

11:53 AM(1 year ago )

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'Rs 27 lakh crore provided to crores of people'

Posted by: Pradeep Singh

With complete transparency, more than Rs 27 lakh crores have been provided to crores of people. A World Bank report states that with such schemes and systems India was able to save crores of people from dropping below the poverty line during COVID, said President Murmu.

11:53 AM(1 year ago )

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Development of villages through different programmes

Posted by: Pradeep Singh

The 'Aspirational districts' program is now being repeated at the block level, for which, 500 blocks have been identified in the country. The 'Vibrant villages' program to develop villages in border areas has also been introduced, President Murmu to joint session of Parliament.

11:42 AM(1 year ago )

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'Garibi hatao' is not just a slogan anymore: President Murmu

Posted by: Pradeep Singh

About 11 crore families have been connected with piped water supply in three years under the Jal Jeevan Mission. Poor families are getting the maximum benefit from this. 'Garibi hatao' is not just a slogan anymore. My government is working to have a permanent solution to the problems of the poor and empowering them, said President Droupadi Murmu to the joint sitting of Parliament.

11:37 AM(1 year ago )

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Modi govt's identity has been that of a decisive one

Posted by: Pradeep Singh

From surgical strike to strict action against terrorism, giving befitting response on LoC and LAC, to abrogating Article 370 in J&K and abolishing Triple Talaq, this government's identity has been that of a decisive one, said President Murmu.

President of IndiaPresident of India

11:34 AM(1 year ago )

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Govt's decisions helped India to be in a better position: President Murmu

Posted by: Pradeep Singh

Wherever there is political instability anywhere in the world, those countries are surrounded by a massive crisis. But due to the decisions my govt took in the national interest, India is in a better position as compared to other countries, said President Droupadi Murmu.

With complete transparency, more than Rs 27 lakh crores have been provided to crores of people. A World Bank report states that with such schemes and systems India was able to save crores of people from dropping below the poverty line during COVID, she said.

11:27 AM(1 year ago )

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Today, there is a stable, fearless and decisive government in the country: President

Posted by: Pradeep Singh

Today, India's self-confidence is at its highest and the world is looking at her from a different perspective. India is providing solutions to the world. Today, there is a stable, fearless and decisive government in the country that is working towards realising the big dreams, said President Murmu while addressing members of both Rajya Sabha and Lok Sabha in a joint session.

11:15 AM(1 year ago )

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Budget 2023 will attempt to meet hopes & aspirations of common men: PM Modi

Posted by: Pradeep Singh

"Amid the unstable global economic situation, India's budget will attempt to meet the hopes and aspirations of the common citizens, the ray of hope being seen by world glows brighter; for this, I firmly believe that Nirmala Sitharaman will make all efforts to meet those aspirations," said PM Modi.

PM ModiPM Modi

11:14 AM(1 year ago )

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Today, world has its eyes on India: PM Modi

Posted by: Pradeep Singh

Today is important for us as the President will address the joint session of the Parliament for the first time: The President's first address to the joint session of Parliament is a matter of pride for our Constitution, and especially for respect of women. Our Finance Minister is a woman too. She will present one more budget before the country tomorrow (February 1). In today's global circumstances, not only India but the entire world is looking at India's budget, said Prime Minister Narendra Modi.

11:14 AM(1 year ago )

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Budget Session - '...A ray of hope and a beginning of enthusiasm'

Posted by: Pradeep Singh

Budget Session begins today and at the beginning itself, credible voices from the world of economy, have brought in a positive message, a ray of hope and a beginning of enthusiasm, said Prime Minister Narendra Modi ahead of the President's address to both Houses of Parliament.

11:13 AM(1 year ago )

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Union Budget 2023: What housewives, youths & senior citizens want

Posted by: Pradeep Singh

What the common people expect from the budget are reductions in the prices of essential commodities, income tax rebates on hard-earned money, employment scope for youths and... Read More

11:13 AM(1 year ago )

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Union Budget 2023: What housewives, youths & senior citizens want

Posted by: Abhijit Mishra

What the common people expect from the budget are reductions in the prices of essential commodities, income tax rebates on hard-earned money, employment scope for youths and... Read More
 

11:13 AM(1 year ago )

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Union budget likely to continue capex hike to boost investment

Posted by: Pradeep Singh

The forthcoming Union budget is expected to focus on boosting capital expenditure in 2023-24 too, as has been the case for the past several years. With the Centre bullish on economic growth and... Read More

11:12 AM(1 year ago )

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Union budget likely to continue capex hike to boost investment

Posted by: Abhijit Mishra

The forthcoming Union budget is expected to focus on boosting capital expenditure in 2023-24 too, as has been the case for the past several years. With the Centre bullish on economic growth and... Read More
 

11:10 AM(1 year ago )

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Only twice in 30 yrs, the market's been up both pre and post Budget

Posted by: Abhijit Mishra

Expectations as measured by pre-budget equity market performance are important in determining what the market does immediately after the budget and... Read More
 

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