List of Union Budget Articles

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

The hospitality industry was among the industries most severely hit by Covid lockdowns. The industry expects more incentives from the Interim Budget. One of its key expectations is that GST rates on hotel rooms should be lowered. Currently, GST rate on hotel rooms is 12% for rooms priced below Rs 7,500. For rooms that are priced above Rs 7,500 per night, the GST rate is […]

The next Finance Minister, C.D. Deshmukh presented the first budget in the first elected Parliament on the basis of adult franchise.

A special provision is, therefore, made for "Vote on Account" by which Government obtains the Vote of Parliament for a sum sufficient to incur expenditure on various items for a part of the year.

The textile industry is a traditional industry of India. The industry has a host of expectations from the budget. It thinks that the full year budget in July will be able to meet these expectations in a better way. One expectation from the interim budget is that Remission of Duties and Taxes on Exported Products Scheme (RoDTEP) be extended till September 2024.

A demand of the oil & gas industry from the budget is to eliminate the import duty on natural gas. Currently, import of natural gas has an import duty levy of between 2.5% and 5%, depending on the form of its import. On the other hand, import of crude oil attracts 0% import duty. Elimination of import duty on natural gas will make it cheaper […]

Revised Estimates are mid-year review of possible expenditure, taking into account the trend of expenditure, New Services and New Instrument of Services etc. Revised Estimates are not voted by the Parliament, and hence by itself do not provide a35ny authority for expenditure.

The key feature of Interim Budget 2024 is that it reiterated government’s commitment to fiscal consolidation and conservatism. It has set 5.1% fiscal deficit target for FY 25. For FY 26, the budget has projected fiscal deficit target of 4.6% of GDP. For FY 24, the revised estimate of fiscal deficit target has been kept at 5.8% of GDP. Fiscal deficit target as a % […]

In order to give a boost to manufacturing, in 2019, the Government announced 15% corporate tax rate for new manufacturing companies that are set up before 31

The term Union Budget came to the fore because India is the Union of States. The Constitution of India has established the federal form of Government in India. Therefore, it is called the Union of States.

Every year on the day before the Budget, the Economic Survey for the previous financial year is presented. This year the government has not presented the Economic Survey. It has probably done so because interim budget is