Tag: Budget

How Budgeting Helped Arjun Take Control of His Finances

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How Budgeting Helped Arjun Take Control of His Finances

Allow me to introduce you to Arjun, a young professional who has just acquired his first job. The excitement of earning one’s own money and the newly acquired freedom to spend it as he saw fit was intoxicating. Arjun celebrated his new job: nice dinners, gadgets that he had hitherto eyed and bought, enjoying weekends out with friends. Pretty soon, the thrill started to wear off as reality started seeping in. Despite his salary, Arjun soon came to realize that meeting his most basic or unexpected expenses came from waiting for a paycheck. The piling of unexpected costs, with no …

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Direct Tax Updates: What Changes For You After The Recent Budget

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Direct Tax Updates: What Changes For You After The Recent Budget

This recent Union Budget has brought in a spate of major changes in direct taxes, impacting every individual taxpayer and investor. Getting one’s head around the new tax regime to keeping oneself aware of the revision in the capital gains tax on equity shares, ETFs, and mutual funds—is crucial in comprehending their impact on your finances. This blog will break down all the key updates that you should be aware to stay ahead in the taxation game. The New Tax Regime What has changed? The tax slabs have been modified to increase more tax savings for individuals opting for the …

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Bioethanol Industry and the Union Budget

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Bioethanol Industry and the Union Budget

Recently, the union cabinet approved amendments to the National Policy on Biofuels to advance the date by which fuel companies have to increase the percentage of ethanol in petrol to 20% from 2030 to 2025. Ethanol, or ethyl alcohol, is a hydrocarbon. When burnt, it can generate heat and power engines. The use of ethanol as a fuel for internal combustion engines is beneficial due to its environmental benefits (fewer emissions) and long-term economic advantages over fossil fuels. It can immensely help a country like ours which is heavily dependent on the import of fossil fuels. The policy of introducing …

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Healthcare and the Union Budget

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Healthcare and the Union Budget

The 2023-24 budget incorporated some fundamental changes in the healthcare industry which are required to transform the sector. The Government has allocated a total of Rs. 89,155 crores in the 2023-24 union budget for the health sector. This allocation was an increase of around 13% over Rs. 79,145 crores allocated in the 2022-23 union budget. Out of the total planned healthcare expenditure in India amounting to Rs. 89,155 Crore, the Department of Health and Family Welfare would receive Rs. 86,175 Crore and the Department of Health Research would receive Rs. 2,980 Crore. Some Crucial changes announced for the healthcare industry: …

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Millet Industry and the Union Budget

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Millet Industry and the Union Budget

For promotions and production of millets, the Indian government is working towards making India a global hub of Shree Anna. Shree Anna is another term for millets that was used by the finance minister and includes a variety of grains like Jowar, Ragi, Bajra, Srikut, Ramdana, Kangni, Kutki, Kodo, Cheena, and Sama. Millets are a group of small-seeded grasses that are cultivated and consumed as a staple food. The global market for millets is relatively small compared to other cereal crops such as wheat, rice, and corn. However, millets are gaining popularity due to their nutritional value, gluten-free nature, and …

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Urban Infrastructure and the Union Budget

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Urban Infrastructure and the Union Budget

The union budget announced a capital outlay for infrastructure at INR10 lakh crore (3.3% of GDP). Significant urban infrastructure expenditures planned in the infrastructure and development budget 2023 have a multiplier effect across sectors and set a strong footing for resilient economic growth. Further, a dedicated amount of INR 10,000 crore per annum has been allocated through urban infra-development funds for tier II and tier III cities, which will result in quality urban infrastructure and a higher standard of living for citizens. This will also translate into higher demand for housing and commercial real estate. The urban infrastructure comprises drinking water, …

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Indian Railways and the Union Budget

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Indian Railways and the Union Budget

Indian Railways is set to see a record capital expenditure (CAPEX) of Rs 2.6 trillion in the fiscal year 2023-24 (FY24). As you know, the railway budget has been merged with the Union Budget, this announcement in the Budget on February 1 would give a push to the massive infrastructure expansion lined up, and the government’s share would contribute around Rs 2.4 trillion to this — the highest ever. “This year is the highest ever outlay in the history of Railways — almost nine times the outlay made in 2013-14,’ the finance minister said. The Railways is targeting an operating ratio …

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Drone and the Union Budget

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Drone and the Union Budget

Announcing the Pradhan Mantri Kausal Vikas Yojana 4.0, the Government announced to train lakhs of Indian youngsters in the next three years to enable them to take up industry-relevant skill training that will help them in securing a better livelihood. The scheme includes new-age courses for industry 4.0 in emerging areas like drones. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by the National Skill Development Corporation. Drones stocks in NSE and BSE are something that should be kept a close eye on after this development. In the last …

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EV Industry and the Union Budget

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EV Industry and the Union Budget

The Electric Vehicle (EV) industry got the much-needed impetus in the union budget. In the Government’s push for green mobility, the customs duty exemption has been extended to the import of capital goods and machinery required to manufacture lithium-ion (Li-ion) cells for batteries used in EVs. This can help the domestic players boost their manufacturing capabilities, make the market competitive, reduce vehicle costs, increase demand, and make the overall EV industry more efficient. This development is sure to boost EV stocks in India. There are many such stocks in the NSE and BSE that can turn out to be multi-baggers …

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AI, IoT, Robotics, and the Union Budget

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AI, IoT, Robotics, and the Union Budget

India is to set up three centers of excellence for Artificial Intelligence in top educational institutions. The Government also plans to partner with leading industry players to conduct interdisciplinary research and develop cutting-edge applications and scalable problem solutions in the areas of agriculture, health, and sustainable cities. Artificial intelligence leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind. The artificial intelligence of things (AIoT) is the combination of artificial intelligence (AI) technologies and the internet of things (IoT) infrastructure. It’s Now Time To Look Out For The Best AI Stocks In India The union budget also included the …

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