Union Budget 2024

July 30, 2024 10:38 AM

India’s Budget 2024: A Masterclass in Balancing Growth and Fiscal Prudence

India's latest Union Budget has set the stage for a potential economic boom, according to financial experts. At a session organized by the Institute of Chartered Accountants Dubai, industry leaders applauded the government's strategic approach to fostering growth while maintaining fiscal responsibility. CA Girish Ahuja, a renowned author and tax expert, highlighted India's success in narrowing its fiscal gap, a feat many global counterparts are struggling to achieve. "India is positioning itsel...

September 16, 2024 5:06 PM

UAE Business Leaders React Positively to India’s Union Budget 2024-2025

Today we are bringing you a special report on the reactions to India's Union Budget 2024-2025 from the United Arab Emirates. As India unveils its financial roadmap for the coming year, we're seeing a flurry of responses from key business leaders and organizations in the UAE, highlighting the deep economic ties between these two nations. Let's start with Sanjeev Dutta, CEO of the UAE India Business Council-UAE Chapter. Dutta has hailed the budget as a significant milestone, praising its commitme...

September 16, 2024 5:20 PM

Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget

A general discussion on the Union Budget and the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be held in the Rajya Sabha later on Wednesday. Finance Minister Nirmala Sitharaman presented both the Union Budget and the Jammu and Kashmir Budget in the House on July 23. The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively. The Union Budget outlines the government's revenue and expendi...

September 16, 2024 5:20 PM

USISPF President Mukesh Aghi terms India’s Budget 2024 as balanced one, focused on job creation

Commending India's Union Budget 2024, Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum, said that it is a pretty balanced budget focused on job creation. Aghi said that the focus of the budget is to bring the deficit from 5.3 per cent to 4.9 per cent. "It's a pretty balanced budget. From a macro perspective, the focus is to bring the deficit from 5.3 per cent to 4.9 per cent. So that's a very responsible budget. The budget focuses on job creation, skills in attracting ...

September 16, 2024 5:20 PM

Strengthening of debt recovery Tribunal and establishment of Addl Tribunal to speed up debt recovery: Centre

The Indian government has announced significant reforms to the country's financial regulatory framework. Finance Minister Nirmala Sitharaman, during her presentation of the 2024-2025 Union Budget, outlined several key initiatives designed to strengthen the Insolvency and Bankruptcy Code (IBC) and improve the ease of doing business in India. Central to these reforms is the proposed establishment of an Integrated Technology Platform, which aims to bring greater consistency, transparency, and ove...

September 16, 2024 5:20 PM

Union Budget 2024: Ministry of Defence receives Rs 6.22 lakh crore allocation

The Ministry of Defence (MoD) has been allocated a record Rs 6.22 lakh crore in the Regular Union Budget for the Financial Year 2024-25, marking the highest allocation among all ministries. "While maintaining the allocation made to MoD during interim budget, the Government has made an additional allocation to the tune of Rs 400 crore on innovation in defence through the Acing Development of Innovative Technologies with iDEX (ADITI) scheme," as per a Ministry of Defence press release. Finance M...

September 16, 2024 5:20 PM

Andhra Pradesh CM Chandrababu Naidu welcomes Union Budget 2024-25

Andhra Pradesh Chief Minister N. Chandrababu Naidu has expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for addressing the state's needs in the Union Budget 2024-25. In a statement, Naidu praised the budget's focus on crucial projects in Andhra Pradesh, including the state capital, Polavaram project, industrial nodes, and development of backward areas. "On behalf of the people of Andhra Pradesh, I thank the Hon'ble Prime Minister, @narendramodi Ji and...

July 23, 2024 4:47 PM

India’s 2024 Budget a ‘Game Changer’ for start-ups, says UAE-based MA Yusuffali

Yusuffali MA, Chairman of Lulu Group and Vice Chairman of Abu Dhabi Chamber, praised India's 2024 budget as "futuristic and proactive," highlighting its focus on entrepreneurship and inward investments. The prominent Middle east-based businessman commended several key aspects of the budget, including the simplification of Foreign Direct Investment rules and the promotion of Indian rupee usage for overseas investments. He described these moves as "very interesting. Yusuffali emphasized the abol...

July 23, 2024 4:41 PM

Dubai business leaders praise India’s 2024 Budget

Business experts in Dubai have responded positively to India's 2024 budget, highlighting its potential impact on UAE-India economic relations. CA Navin Sharma, Chairman of the Tax Society UAE, commended the budget, particularly noting the reduction in gold import duty from 15% to 6%. This change is expected to boost gold trade between Dubai, known as the City of Gold, and India. Sharma also praised the budget's focus on job creation and its alignment with economic realities. Sahitya Chatur...

September 16, 2024 5:21 PM

Key highlights of Union Budget 2024

Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for 2024-2025. The budget aims to foster employment, skill development, and economic growth with a focus on various sectors, including agriculture, manufacturing, and urban development. The Finance Minister said that as mentioned in the interim budget, the focus is on 4 major castes, namely poor, women, youth and farmer. Inflation and Economic Stability India's inflation remains low and stable, moving towards a 4% tar...