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Nirmala Sitharaman to Introduce Jammu and Kashmir Appropriation Bill in Lok Sabha Amid Ongoing Budget Session In the ongoing Budget Session of Parliament, Union Finance Minister Nirmala Sitharaman is set to introduce the Jammu and Kashmir Appropriation (No. 3) Bill, 2024, in the Lok Sabha. This bill aims to authorize the payment and appropriation of certain sums from the Consolidated Fund of the Union Territory of Jammu and Kashmir for the financial year 2024-25. Key Legislative Activities The Parliament session, which began on July 22 and is scheduled to conclude on August 12, will also continue discussions on the Union Budget 2024-25, presented on July 23. The debate on the budget for Jammu and Kashmir for the fiscal year 2024-25, which commenced last Tuesday, will also proceed. Reports and Statements on Youth and Sports Union Minister of State for Youth Affairs and Sports, Raksha Nikhil Khadse, will address the Lok Sabha on several key reports regarding the Ministry's activities...

Union Budget 2024-25: Key Priorities Outlined by  Finance Minister Nirmala Sitharaman In the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman, nine critical priorities were identified to generate ample opportunities and drive economic growth. These priorities include productivity and resilience in agriculture, employment and skilling, and manufacturing and services. Nine Priorities for Economic Growth While presenting the Union Budget in the Lok Sabha, Sitharaman emphasized sustained efforts across the following nine priorities: 1. Productivity and Resilience in Agriculture 2. Employment and Skilling 3. Inclusive Human Resource Development and Social Justice 4. Manufacturing and Services 5. Urban Development 6. Energy Security 7. Infrastructure 8. Innovation, Research, and Development 9. Next Generation Reforms Focus on Key Areas The interim budget in February 2024 highlighted the government's focus on four key areas: the poor, women, youth, and farmers. Notabl...

FM Sitharaman to Present Historic Seventh Consecutive  Union Budget in Paperless Format Union Finance Minister Nirmala Sitharaman is set to make history by presenting her seventh consecutive Union Budget during the Monsoon Session of Parliament, starting July 22. This milestone will establish her as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai, who presented six budgets from 1959 to 1964. Paperless Budget Presentation Continuing the trend of the past few years, Budget 2024 will be delivered in a paperless format. This move not only signifies a step towards modernization and digital governance but also aligns with environmental sustainability efforts. Stakeholder Consultations In preparation for the budget, the Finance Ministry has engaged in extensive consultations with various stakeholders across the economy. These deliberations, which began on June 20, included representatives from trade unions, the education and health sec...

NBFC Sector Seeks Funds and Reforms Ahead of  Union Budget 2024 As the Union Budget for 2024 approaches, the Non-Banking Financial Company (NBFC) sector is calling for enhanced financial inclusion and digitalization efforts to sustain its growth. The sector, represented by the Finance Industry Development Council (FIDC), is advocating for the establishment of a special refinancing body, akin to the National Housing Bank (NHB) for housing finance companies. Importance of NBFCs in the Economy NBFCs play a crucial role in the Indian economy by providing financial services to underserved segments that traditional banks may not fully reach. They offer a range of financial products, including loans, asset financing, and wealth management services. This sector is vital for promoting financial inclusion, supporting consumer demand, and improving trade balances. Current State of NBFCs Despite facing stringent regulatory actions from the Reserve Bank of India (RBI) this year, the NBFC sector...