The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department.
Taking a jibe at the Central government over Budget 2020-21, Congress leader Rahul Gandhi on Tuesday claimed Finance Minister Nirmala Sitharaman had not even mentioned once the issue of unemployment during her three-hour-long budget speech.
Putting aside the hope of a strong fiscal stimulus to pump prime the economy, Finance Minister Nirmala Sitharaman said on Monday that the Budget gave a macro treatment to the economy rather than addressing sectors separately and put infrastructure spending as the highest priority while taking a fiscally prudent route.
The Union Budget has rightly recognised the importance of emerging technologies in realising India's full potential, executives of technology companies have stressed.
The Budget proposal to provide an outlay of Rs 8,000 crore for quantum computing may help make India the world's third biggest nation in the sector after the US and China, according to experts.
The government is patting itself on the back for the Budget presented by Union Finance Minister Nirmala Sitharaman on Saturday, but people believe that the Budget is unlikely to boost employment.
The Union Budget 2020-21, which Union Finance and Corporate Affairs Minister Nirmala Sitharaman presented in the Lok Sabha on Saturday, aims at energising the economy of India through a combination of short-term, medium-term, and long term measures.
The defence budget has been hiked by 6 per cent from Rs 3.18 lakh crore to Rs 3.37 lakh crore in the Union Budget 2020 presented by Finance Minister Nirmala Sitharaman on Saturday.
The BJP terms the Union Budget "pro-farmer" in which fertiliser subsidy has gone down quite a bit. Against last year's Rs 79,998 crore, this year's estimated fertilizer subsidy is Rs 71,309 cr.
After slashing income tax rates for individuals on condition that they give up exemptions and deductions, Finance Minister Nirmala Sitharaman on Saturday said the government intends to remove all IT exemptions in the long run.
With Finance Minister Nirmala Sitharaman announcing a new scheme to encourage manufacturing of mobile phones, semiconductor packaging and electronic equipment, mobile industry bodies and vendors on Saturday welcomed the move, saying the measures will spur investments into the sectors, while also increasing employment.