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Budget marks directional change for Indian economy: Finance Minister

Budget marks directional change for Indian economy: Finance Minister
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“This Budget mark a clear directional change for the Indian economy and that directional change is not what the government has offered as a sudden response, but it was something that was preoccupying the Indian minds for over 30 years,” she said at FICCI's national executive committee meeting via videoconferencing.
Agencies
The union finance minister expressed confidence that the government's revenue generation will increase in 2021 through asset monetisation and other non-tax avenues besides disinvestment.
The Union Budget has marked a clear directional change for the Indian economy, with infrastructure, health and agriculture identified as three big ticket areas for expenditure, finance minister Nirmala Sitharaman said Wednesday.

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28% increase in outlay for Supreme Court's, OBCs welfare plans

28% increase in outlay for SC, OBC welfare plans
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The overall budget for ministry of social justice and empowerment has gone up from ₹8,207.56 crore to ₹10,517.62 crore – a 28% increase. The Allocation for Welfare of Scheduled Castes (AWSC) for all ministries has been increased by 51.65%.
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The restructured scheme will follow the contours of the PMS-SC with focus on the poorest 20 lakh households.
New Delhi: Hidden in the fine print of budget 2021-22 is the Centre’s massive outreach to Scheduled Castes, Other Backward Classes, denotified tribes and nomadic tribes.
The overall budget for ministry of social justice and empowerment has gone up from ₹8,207.56 crore to ₹10,517.62 crore – a 28% increase. The Allocation for Welfare of Scheduled Castes (AWSC) for all ministries has been increased by 51.65%. AWSC is a plan under which 37 central government ministries are required to earmark 2-30% of their total budget outlay for SC welfare schemes. The ministries are required to identify targeted schemes and then earmark the funds scheme-wise to different states. The outlay under AWSC has increased from ₹83,256 crore to ₹126,259.20 crore.

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Finance Commission recommends FRBM Act revamp

Finance Commission recommends FRBM Act revamp
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Last Updated: Feb 02, 2021, 05:10 AM IST
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The FRBM Act needs to be revamped because of prevailing uncertainty and contemporary realities and challenges, the commission said. The Union and state governments will have to amend their FRBM Acts to ensure their legislations are consistent with the fiscal sustainability framework, it added.
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Meanwhile, the government has accepted the commission’s suggestion to set up a non-lapsable defence fund.
The 15th Finance Commission led by NK Singh has recommended setting up a high-powered intergovernmental group to restructure the Fiscal Responsibility and Budget Management Act and oversee its implementation.

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ET Budget 2021 special edition: The Roaring 20s

ET Budget 2021 special edition: The Roaring 20s
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Last Updated: Feb 03, 2021, 03:22 PM IST
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2020s can be a roaring decade for India, and it could start with this budget. Just as the 1920s boom followed the Spanish Flu, a 2020s boom will come after covid.
To design our edition for a budget that may set India’s course for 2020s, we looked back 100 years, to 1920s, and to another big, messy democracy with a vibrant entrepreneurial culture, America. America of 1920s was roaring because its economy and stock market boomed – everything else, the fashion, the music, and the parties followed from that. 2020s can be a roaring decade for India, and it could start with this budget. And just as the 1920s boom followed the Spanish Flu, a 2020s boom will come after covid. Iconic photos of the Roaring 20s in this special edition are a nod to both an extraordinary era in the past and the extraordinary promise of the future.

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Independent operator in pipeline to manage gas distribution

Independent operator in pipeline to manage gas distribution
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Last Updated: Feb 02, 2021, 12:20 PM IST
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“An independent gas transport system operator will be set up for facilitation and coordination of booking of common carrier capacity in all natural gas pipelines on a non-discriminatory, open-access basis,” finance minister Nirmala Sitharaman said in her budget speech.
ET Bureau
New Delhi: The government will set up an independent operator to manage the common carrier capacity of natural gas pipelines in the country, which will induce transparency in pipeline usage, give all marketers a level playing field and help develop the country’s natural gas market.

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Recovery play: Economy will take two years to surpass pre-pandemic levels

Recovery play: Economy will take two years to surpass pre-pandemic levels
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Last Updated: Jan 30, 2021, 08:09 AM IST
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Following a strong 10-12% rebound in FY22, survey looks ahead assuming a 6.5% rise in FY23 and 7% GDP growth in FY24
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ECONOMY IN FY24
Following a strong 10-12% rebound in FY22, survey looks ahead assuming a 6.5% rise in FY23 and 7% GDP growth in FY24
Price of food issued from central stock not revised since 2013
Economic cost of wheat up from Rs 1,908/quintal in FY14 to Rs 2,684/quintal in FY21
Rice up from Rs 2,616/quintal in 2013-14 to Rs 3,724/quintal over this period

India , Budget-banner-et-bureau , Food-subsidy , Surplus , Growth , Union-budget-2021 , Economy , Economic-survey-2020 , Covid-19-vaccination , இந்தியா , பட்ஜெட்-பதாகை-மற்றும்-பலர்-பணியகம்

Budget 2021: What industry wants

Budget 2021: What industry wants
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Last Updated: Jan 26, 2021, 10:32 AM IST
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India Inc wants a strong stimulus dose for the pandemic-hit economy in the upcoming budget to help it rebound from the Covid disruption
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Comprehensive relief package for aviation sector
India Inc wants a strong stimulus dose for the pandemic-hit economy in the upcoming budget to help it rebound from the Covid disruption. ET looks at the wish list of some key sectors:
Higher 25% depreciation rate for passenger vehicles & 2-wheelers
Reinstatement of investment allowance for component makers
Include EV industry in the priority sector lending category
Aviation

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