Budget-Session-News

Trade union bats for separate business management service cadre for PSUs

Creation of a separate business management service cadre like IAS, IFS to manage the public sector units (PSUs), formulation of policies for revival of loss making government companies, legislating various welfare schemes, increase in pension under the Employees Pension Scheme-95 and others are the 2023-24 Union budget wish list of Bharatiya Mazdoor Sangh (BMS). …

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10 major trade unions boycott pre-budget meeting with Sitharaman

Ten major trade unions of the country, including the AITUC, INTUC, CITU, HMS, LPF, SEWA and AIUTUC among others, on Monday boycotted their pre-budget consultations with Union Finance Minister Nirmala Sitharaman, citing lack of proper time given to them to put forth their demands before the Centre. In a letter to Sitharaman …

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Budget 2023-24: Miners’ body seeks withdrawal of export duty on bauxite

Miners’ body FIMI has sought withdrawal of export duty on bauxite, stating that the move will lead to optimum utilisation of low-grade mineral resources as it will expedite reopening of closed bauxite mines, create jobs and earn foreign exchange. Bauxite is the principal ore of aluminum and therefore the mineral is the …

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India may boost rural spending by 50% next year to spur jobs, housing

By Shivangi Acharya NEW DELHI (Reuters) -India may increase rural spending by nearly 50% to 2 trillion rupees ($24.51 billion) next fiscal year, a source familiar with the matter told Reuters, as the country seeks to boost jobs and affordable housing before the national elections. Finance Minister Nirmala Sitharaman is likely …

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CII suggests slashing income tax rates in upcoming budget o revive demand

The Confederation of Indian Industry (CII) has suggested a cut in personal income tax rates to revive demand — a move which would benefit 5.83 crore taxpayers who have filed returns for assessment year 2022-23. The industry body gave this suggestion to Finance Minister Nirmala Sitharaman on Monday, during the pre-budget meeting, …

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Focus on job creation, capex boost, tax measures in Budget: Industry to FM

The upcoming Union Budget 2023 should prioritise job creation and taxation measures which will help in increasing broad-based consumption, representatives from various industry bodies recommended to Finance Minister Nirmala Sitharaman and her team during their pre-budget consultations on Monday. The industry bodies said that there should be more focus on financing of …

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Decriminalise GST law, cut personal income tax rates in Budget: CII to govt

Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions …

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FM Nirmala Sitharaman to kick-start pre-Budget meetings from Monday

Finance Minister Nirmala Sitharaman will kick-start the customary pre-budget meetings beginning Monday with a special focus on issues concerning climate change and infrastructure. The minister would hold virtual meetings on November 21 in three groups with industry chambers, infrastructure sector and environment experts seeking suggestions for the 2023-24 Budget making from stakeholders. …

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