Chief Minister Pramod Sawant is likely to present the state's Budget for 2023-24 on March 28, while the House will not have a sitting on March 30 due to Ram Navami, he said.
As soon as the House met again at 2 pm after an adjournment, Rajindra Agrawal, who was chairing the proceedings, asked BJP's Jugal Kishore Sharma to initiate the discussion on the budget for the Union Territory, which is under central rule at present.
The tax collection of the government in the current and the next financial year is expected to remain as per estimates, they said on Wednesday.
The state's economic growth rate of 6.8 percent this fiscal was good in light of the previous two-three years, said Fadnavis, who holds the finance portfolio, while replying to the debate on budget in the Legislative Assembly.
35 percent of the earmarked budget shall be spent on development and infrastructure projects
Apart from announcing a spree of measures for the state's cultivators, the government also raised the cap under a state-run health insurance scheme, and announced interest-free loans for persons from the Dhangar community.
Devendra Fadnavis started reading out the budgetary allocations in the Lower House of the state legislature at 2 pm. He read out the budgetary provisions from an iPad instead of a conventional paper document.
Proposals on Medicare, private equity, crypto among many others expected from the President's budget which will be announced by Biden on March 9.
But the budget for stormwater drains is about 40 percent lower than this year's outlay. The corporation has also declared a 27 percent hike in property tax, its biggest source of revenue.
A new scheme named 'Mukhyamantri Balika Scooty Yojana' to provide e-scooters to the girls securing first class in Class 12 examination is also announced in the budget.
Goods and Services Tax collections have exceeded the Rs 1.4 lakh crore level for 12 consecutive months
In its February update to Global Macro Outlook 2023-24, Moody's raised the baseline 2023 real growth projections "meaningfully" for several G20 economies, including the US, Canada, the Euro area, India, Russia, Mexico, and Turkiye, accounting for a stronger end to 2022.
"On March the 9th, I'm going to lay down in detail every single thing, every tax that's out there that I'm proposing, and no one ... making less than $400,000 is going to pay a penny more in taxes," Biden told an audience in Virginia Beach, Virginia.
Reducing fiscal deficit is a challenge going forward as paring can happen only in the discretionary part of the budget, which is capital expenditure. But when you cut capex, it will affect growth, says the founder of GQuant Investech
Analysts noted that retail participation remains low due to expensive valuations and fears of a potential cut in earnings in the March quarter
Subbarao noted that the unemployment problem was quite bad even before the Covid and it has become alarming as a result of the pandemic.
PM Modi said that FY24 Union Budget will make India a lead player in the renewable energy market globally.
A detailed agenda of the Assembly during the more than three-week-long session was discussed at a meeting of the Business Advisory Committee (BAC) on Wednesday, said an official release.
Industry bodies ask to exclude investments made by foreign VC funds, endowment funds, hedge funds, sovereign wealth funds from angel tax regime
Biocon Chairman sees biologics business hitting Rs 2,000 crore in the fourth quarter; says there's a need to build robust regulatory system to curb instances of adulteration of drugs by Indian pharma firms.
The budget also announces that West Bengal Real Estate Regulatory Authority (WBRERA) and West Bengal Real Estate Administrative Tribunal have been established.
The interest rate differential and the government’s resolve on fiscal consolidation have attracted investors to bonds.
Rajeev Mantri, founder and MD of Navam Capital says India’s entrepreneurial energy is India’s strength and that the allegations against the Adani Group are overstated.
Addressing the first BJP parliamentary party meeting after the Union Budget was presented on February 1, he said no one is calling it a ”chunavi budget” (budget influenced by polls) even though it was the last full-fledged one before the next Lok Sabha polls. Overall
Sun Pharma says it has a very clear strategic intent to invest in its specialty business in core therapeutic areas.