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budget 2021

The Union Budget is an annual financial statement of the government with estimates of receipts and expenditure for a particular year. Finance Minister Nirmala Sitharaman will present the Union Budget 2021-22 on February 1. More

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  • October GST collections Rs 1.30 lakh crore, second highest in 2021 Nov 01, 2021 01:44 PM IST

    October GST collections Rs 1.30 lakh crore, second highest in 2021

    The October GST print takes total gross GST collection for the year to Rs 8.12 lakh crore. All but one month in the current fiscal year (June, Rs 92,849 crore) have been comfortably above the Rs 1 lakh crore mark.

  • FinMin frets over extra expenditure as budget preparations begin Oct 19, 2021 06:04 PM IST

    FinMin frets over extra expenditure as budget preparations begin

    While the finance ministry is happy with strong tax collections on the back of a sustained economic recovery, the worry is that Covid-19 relief measures of the past six and a half months could take the fiscal deficit to 7.7 percent of GDP compared with a target of 6.8 percent.

  • Centre's April-August fiscal deficit at 31% of budgeted target Sep 30, 2021 04:40 PM IST

    Centre's April-August fiscal deficit at 31% of budgeted target

    For the current year, Finance Minister Nirmala Sitharaman has budgeted a fiscal deficit target of Rs 15.07 lakh crore, or 6.8 percent of nominal gross domestic product.

  • Centre to borrow Rs 5.03 lakh crore in H2FY22; yearly borrowing target on track to be met Sep 27, 2021 09:51 PM IST

    Centre to borrow Rs 5.03 lakh crore in H2FY22; yearly borrowing target on track to be met

    During the first half, the government borrowed Rs 7.02 lakh crore though securities or G-Secs, the Finance Ministry said in a statement on September 27.

  • Exclusive | At halfway mark, FinMin confident of meeting FY22 fiscal deficit target Sep 27, 2021 03:16 PM IST

    Exclusive | At halfway mark, FinMin confident of meeting FY22 fiscal deficit target

    Officials told Moneycontrol that although expenditure may be higher than budgeted this year, the Centre’s fiscal position is ‘more than comfortable’ and there is enough firepower for further economic support to some sectors

  • Govt hopes bringing Public Enterprises Department under Finance Ministry will boost privatisation process Jul 07, 2021 08:15 PM IST

    Govt hopes bringing Public Enterprises Department under Finance Ministry will boost privatisation process

    This move is aimed at ensuring that the Centre’s privatisation, asset monetisation and capital expenditure plans for state-owned companies are aligned and coordinated.

  • Centre's April-May fiscal deficit comes in at 8.2% of full year target Jun 30, 2021 07:00 PM IST

    Centre's April-May fiscal deficit comes in at 8.2% of full year target

    The fiscal deficit for the same period last year had reached 58.6 percent of the full year target. That was in the middle of the nationwide lockdown, when the centre's revenues had all but dried up due to lack of economic activity, and expenditure commitments had increased.

  • As PM Modi centralizes vaccine procurement, FinMin to seek Parliamentary approval for more funds Jun 07, 2021 08:31 PM IST

    As PM Modi centralizes vaccine procurement, FinMin to seek Parliamentary approval for more funds

    The budgeted vaccination expenditure and any amount further sought through Supplementary Demand for Grants in the upcoming sessions of Parliament should be enough to fund the centre’s expanded vaccination programme, a senior government official said.

  • RBI surplus provides fiscal boost to Centre in a tough year May 21, 2021 06:13 PM IST

    RBI surplus provides fiscal boost to Centre in a tough year

    Provided all other budget assumptions regarding revenue and expenditure remain the same, the additional surplus from RBI will reduce the fiscal deficit as a percentage of nominal gross domestic product to 6.56% for 2021-22, compared to a budgeted target of 6.8%, Moneycontrol calculations show.

  • Centre hikes fertilizer subsidy for FY22 by Rs 14,775 crore May 19, 2021 08:25 PM IST

    Centre hikes fertilizer subsidy for FY22 by Rs 14,775 crore

    The government said that a decision was taken to increase the subsidy for diammonium phosphate (DAP) fertilizer from Rs 500 to Rs 1200 per bag, an increase of 140 per cent.

  • Centre gives Rs 15,000 crore in long-term loans to states for capex spending Apr 30, 2021 04:38 PM IST

    Centre gives Rs 15,000 crore in long-term loans to states for capex spending

    The loans include Rs 5,000 crore to incentivise states to monetise their assets and divest their PSUs.

  • Macro Minutes Podcast | The economic impact of second Covid 'surge' will not be as large as the first one: Chief Economic Advisor Apr 13, 2021 08:26 PM IST

    Macro Minutes Podcast | The economic impact of second Covid 'surge' will not be as large as the first one: Chief Economic Advisor

    Speaking on the latest episode of “Moneycontrol Macro Minutes” podcast, Subramanian said that the government had been deliberately conservative in its forecasts for the current financial year. While not ruling out an economic intervention like last year should the need arise, Subramanian said any further measures announced would likely be on the fiscal support and capital expenditure side.

  • 2020-21 indirect tax collections beat revised estimates by 8%: CBIC Chief Apr 13, 2021 12:18 PM IST

    2020-21 indirect tax collections beat revised estimates by 8%: CBIC Chief

    Out of the total provisional indirect tax collections, custom duty collections came in at Rs 1.32 lakh crore, excise and service tax collections came at Rs 3.91 lakh crore, while the net GST collection for the centre stood at Rs 5.48 lakh crore.

  • Explained | Why the government can’t wait to cut interest rates on small savings Apr 02, 2021 08:01 PM IST

    Explained | Why the government can’t wait to cut interest rates on small savings

    Hint: What a scheme pays out to subscribers as interest depends much on what the scheme earns.

  • India's April-February fiscal deficit at 76% of FY21 revised estimates Mar 31, 2021 04:37 PM IST

    India's April-February fiscal deficit at 76% of FY21 revised estimates

    Finance Minister Nirmala Sitharaman had, in her 2021-22 Union Budget, revised the fiscal deficit target for the current fiscal year to Rs 18.49 lakh crore, or 9.5 per cent of real gross domestic product, compared to budget estimates of Rs 7.96 lakh crore or 3.5 percent of GDP.

  • Amended Finance Bill passed in Lok Sabha, gives 10-year tax holiday to new infra bank Mar 23, 2021 08:25 PM IST

    Amended Finance Bill passed in Lok Sabha, gives 10-year tax holiday to new infra bank

    Replying to the Finance Bill debate, Nirmala Sitharaman said that the central government is ready to start discussions on bringing petrol and diesel under Goods and Service Tax if the states are on-board for talks as well.

  • RBI research takes the shine off Economic Survey’s spirited defence of high fiscal deficits Mar 23, 2021 09:41 AM IST

    RBI research takes the shine off Economic Survey’s spirited defence of high fiscal deficits

    Researchers at the RBI seem to have a less enthusiastic view of the wonders of a negative r-g than those who penned the Economic Survey

  • LIC strike today: Employees protest against proposed IPO, privatisation, FDI limit hike Mar 18, 2021 11:49 AM IST

    LIC strike today: Employees protest against proposed IPO, privatisation, FDI limit hike

    The strike by the LIC employees comes two days after the nationwide bank strike which impacted banking services throughout the country.

  • India’s infra push won’t succeed without reducing NPAs in sector: Chief Economic Advisor Mar 09, 2021 12:14 PM IST

    India’s infra push won’t succeed without reducing NPAs in sector: Chief Economic Advisor

    Krishnamurthy Subramanian’s views echo that of RBI Governor Shaktikanta Das. In July 2020, Das had said a big push for mega infrastructure projects could reignite the economy, but banks saddled with infra-related NPAs, may not be best placed to finance these projects.

  • Maharashtra Budget 2021: Govt announces interest-free farm loans up to Rs 3 lakh, 33% rebate on power bills Mar 08, 2021 09:38 PM IST

    Maharashtra Budget 2021: Govt announces interest-free farm loans up to Rs 3 lakh, 33% rebate on power bills

    The Maha Vikas Aghadi government announced a scheme worth Rs 2,000 crore for strengthening Agricultural Produce Market Committees in state.

  • Will VPF remain attractive option after new tax rules? Mar 08, 2021 05:07 PM IST

    Will VPF remain attractive option after new tax rules?

    From April 1, if the employee's contribution to PF - statutory or voluntary - exceeds Rs 2.5 lakh a year, then the interest earned on this excess contribution will become taxable at the prevailing income tax rates.

  • New PF tax rule applicable from April 1: Here's everything you need to know Mar 08, 2021 01:09 PM IST

    New PF tax rule applicable from April 1: Here's everything you need to know

    With the threshold of Rs 2.5 lakh per year, the new tax rule is expected to hurt only large contributions to the provident fund.

  • EXCLUSIVE | Government looks to kick off FY22 privatisation programme with BPCL, Air India Mar 02, 2021 04:45 PM IST

    EXCLUSIVE | Government looks to kick off FY22 privatisation programme with BPCL, Air India

    The finance ministry’s Department of Investment and Public Asset Management (DIPAM), the nodal body for divestment, is confident that the privatisation of BPCL and Air India can be completed by late-first quarter or early second quarter of FY22.

  • SBI led webinar on Indian budget evokes favourable response in Israel Mar 02, 2021 01:03 PM IST

    SBI led webinar on Indian budget evokes favourable response in Israel

    Setting the tone of the interactive webinar, India's Ambassador to Israel, Sanjeev Singla, said, "We have had a landmark budget that marks a directional change and leverages far-reaching reforms that the government is effecting to make our economy more resilient and competitive."

  • DAILY VOICE | Fintech companies could create wealth over next decade: Shyamsunder Bhat of Exide Life Mar 02, 2021 08:32 AM IST

    DAILY VOICE | Fintech companies could create wealth over next decade: Shyamsunder Bhat of Exide Life

    Select companies from the commodity space could also gain from the spending on infrastructure in some of the developed countries looking to revive growth, as well as in India, says Bhat.

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