UP Budget: Rs 100 Cr for Mahakumbh-2025 & Ayodhya Centre Funding
The Uttar Pradesh government has announced its budget for the fiscal year 2024-25, with special focus on the development of religious and cultural sites in the state. The budget has allocated Rs 100 crore for the overall development of Ayodhya, the birthplace of Lord Ram, and Rs 150 crore for the expansion of Maharishi Valmiki […]
Rs 2 Lakh for Rural Housing in Interim Budget
The interim budget 2024, presented by Union finance minister Nirmala Sitharaman on February 1, has brought some cheer to the rural and middle-class home buyers. The budget has proposed to increase the assistance for rural housing under the Pradhan Mantri Awas Yojana – Gramin (PMAY-G) scheme by 66 per cent, from Rs 1.2 lakh to […]
Lok Sabha to Approve Extra Rs 78,673 Cr Govt Spending
The Lok Sabha is expected to approve an extra spending of Rs 78,673 crore for the current fiscal year (FY24), as part of the second and final batch of supplementary demands for grants. The additional expenditure will be mainly used for the rural employment scheme MGNREGA, fertiliser subsidy, food and public distribution, and petroleum and […]
UP’s Rs 7.36 Lakh Cr Budget for FY25 Presented by Suresh Khanna
Uttar Pradesh Finance Minister Suresh Kumar Khanna presented the state budget for the financial year 2024-2025 in the assembly on Monday, February 5, 2024. The budget, which is the last one before the state goes to polls in 2025, has a size of Rs 7.36 lakh crore, an increase of 6.6% from the previous year. […]
Indian Oil Majors’ Rs 1.2 Lakh Cr Investment Plan
State-owned oil & gas majors, including Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) will invest about Rs 1.2 lakh crore in the coming fiscal year starting April 1 in oil and gas exploration, refineries, petrochemicals and laying pipelines to meet the needs of the world’s fastest-growing energy consuming nation . ONGC has […]
Govt’s Green Hydrogen Guidelines for Steel Sector
The government of India has recently issued guidelines for pilot projects to use green hydrogen in the steel sector under the National Green Hydrogen Mission (NGHM). The aim is to gradually replace fossil fuels and feedstock with green hydrogen and its derivatives, and to develop the necessary infrastructure and supply chains for green hydrogen production […]
Adani’s USD 1.2 Bn Copper Plant to Boost India’s Metal Production
India is set to witness a surge in its domestic copper production as the Adani Group is building the world’s largest single-location copper manufacturing plant at Mundra in Gujarat. The plant will help reduce India’s dependence on imports and support the country’s energy transition. Why is copper important for India? Copper is the third most […]
2025 Forecast: 50,000 Less Central Govt Workers
The central government workforce, excluding the central public sector enterprises (CPSEs), is projected to decline by nearly 50,000 employees by March 2025, according to the latest Interim Budget documents. The overall expenditure on pay and allowances, however, is expected to increase by 6.9 per cent to Rs 3.2 trillion in the financial year 2024-25. Reasons […]
GST Update: Rs 1 Lakh Penalty for Tobacco Makers
The government has announced a new measure to curb tax evasion in the tobacco industry. From April 1, 2024, manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh if they do not register their packing machines with the Goods and Services Tax (GST) […]
Exim Bank Gets Rs 9,000 Cr for Foreign Loan NPAs
The government has provided Rs 9,000 crore to Exim Bank of India as some of the loans extended to foreign countries turned into non-performing assets (NPAs). The bank had to invoke the government guarantee on these loans, which were given to some African countries over a decade ago. What are foreign loan NPAs? Foreign loan […]