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A possible customs duty hike on as many as 35 items may be on the cards in the upcoming union budget. This could include things like jewellery and electronics 

Budget 2023: Electronics, jewellery may get more expensive

A possible customs duty hike on as many as 35 items including high-end electronics and jewellery, may be on the cards in the upcoming union budget. 

A possible customs duty hike on as many as 35 items including high-end electronics and jewellery, may be on the cards in the upcoming union budget.&nbsp;

Budget 2023 may see a customs duty hike for a slew of non-essential items. As per an economic times report, a list of 35 items has been drawn up by the govt and are being examined for a possible hike in customs duty. Private jets, helicopters, high-end electronics, jewellery are some of the items that could become costlier.&nbsp;
One of the main reasons behind this move is to curb imports and encourage local manufactuing, giving a boost to 'Aatmanirbhar Bharat' initiatives. In fact, import tariffs on a number of items have already been hiked in the past few years to support such initiatives.&nbsp; As per the economic times report, India's current account deficit reached a 9-year high of 4.4% of GDP for the July to Sept 2022 quarter.&nbsp;
&nbsp;

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman was here to attend the annual spring meetings of the International Monetary Fund and the World Bank. During her visit, she also held a host of bilateral meetings and participated in many multilateral meetings. She interacted with several top officials of the Biden administration.
"There is an understanding that India's relationship with the United States has actually moved forward. It's gotten deeper. There is no one questioning that,” she told reporters in response to a question on the bilateral relationship.
"But there is also an understanding, not just the legacy dependence for defence equipments on Russia...that India has legacy issues as much as relationships over several decades. And if anything, I can say with a bit of a confidence there is a positive understanding. It is not a negative understanding,” she said.
"I see more and more windows of opportunities opening, rather than (US) keeping an arm's distance saying you've calibrated your position on Russia doesn't seem like you are getting closer to us. No,” she said during an interaction with a group of Indian reporters in Washington DC at the conclusion of her trip.
Sitharaman explained the developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue, which was topped off by a virtual meeting between Prime Minister Narendra Modi and President Joe Biden.
"Post that my meetings here have gone fairly well and it doesn't seem to ranker people that you've balanced, you've calibrated your position,” she said.
"Also the discussions which are going on the Framework for Indo Pacific Economic Relationship is also gaining quite a lot of traction and PM said he would consider it,” she said.
She said India's relationship with the US is improving each day.
"This recognition that there is a friend, but that friend's geographical location is got to be understood. And a friend cannot be weakened for any reason. Geographical appreciation of where we are located...northern borders being under tension even despite Covid, the western border constantly at odds and sometimes even the equipment's given to meet the terrorist issues in Afghanistan being diverted to hit at us these developments nobody can have an alternative,” said the finance minister.
It is not as if India has a choice to relocate itself, she said. India certainly wants a friendship with the United States. "But if the US also wants a friend, the friend can be a weak friend, the friend should not be weakened. We are taking decisions, we are taking calls, we are taking calibrated position because we need to be strong where we are given the geographical locational realities,” Sitharaman said.

Watch | FM Nirmala Sitharaman on India-US relationship, deepening ties

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman&nbsp;was in US to attend the annual meeting of IMF&nbsp;and World Bank.
During her visit she held many bilateral meetings.&nbsp;
Sitharaman&nbsp;provided context for the recent developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue which was followed by a virual&nbsp;meeting between PM Modi and US president Joe Biden.
captions:
Sitharaman&nbsp;in US to attend IMF, World Bank meeting
Deepening India-US&nbsp;bilateral relationship: FM Sitharaman
More windows of opportunities opening after Ukraine war: FM
Geographic location of India got to be understood: FM
'India can't relocate itself, wants friendship with US'

Nirmala&nbsp;Sitharaman is in US for World Bank, IMF&nbsp;meetings. Asserts improving relationship between US and India. India's geographical location, legacy key in recent developments

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman was here to attend the annual spring meetings of the International Monetary Fund and the World Bank. During her visit, she also held a host of bilateral meetings and participated in many multilateral meetings. She interacted with several top officials of the Biden administration.
"There is an understanding that India's relationship with the United States has actually moved forward. It's gotten deeper. There is no one questioning that,&rdquo; she told reporters in response to a question on the bilateral relationship.
Also watch |&nbsp;<a href="https://www.editorji.com/editorji-specials/the-india-story/the-india-story-diplomacy-deep-dive-uk-pm-in-india-fm-in-us-signals-india-is-open-for-business-1650638144463" target="_blank">The India Story | Diplomacy deep dive: UK PM in India, FM in US signals India is 'open for business'</a>
"But there is also an understanding, not just the legacy dependence for defence equipments on Russia...that India has legacy issues as much as relationships over several decades. And if anything, I can say with a bit of a confidence there is a positive understanding. It is not a negative understanding,&rdquo; she said.
"I see more and more windows of opportunities opening, rather than (US) keeping an arm's distance saying you've calibrated your position on Russia doesn't seem like you are getting closer to us. No,&rdquo; she said during an interaction with a group of Indian reporters in Washington DC at the conclusion of her trip.
Sitharaman explained the developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue, which was topped off by a virtual meeting between Prime Minister Narendra Modi and President Joe Biden.
"Post that my meetings here have gone fairly well and it doesn't seem to ranker people that you've balanced, you've calibrated your position,&rdquo; she said.
"Also the discussions which are going on the Framework for Indo Pacific Economic Relationship is also gaining quite a lot of traction and PM said he would consider it,&rdquo; she said.
She said India's relationship with the US is improving each day.
"This recognition that there is a friend, but that friend's geographical location is got to be understood. And a friend cannot be weakened for any reason. Geographical appreciation of where we are located...northern borders being under tension even despite Covid, the western border constantly at odds and sometimes even the equipment's given to meet the terrorist issues in Afghanistan being diverted to hit at us these developments nobody can have an alternative,&rdquo; said the finance minister.
It is not as if India has a choice to relocate itself, she said. India certainly wants a friendship with the United States. "But if the US also wants a friend, the friend can be a weak friend, the friend should not be weakened. We are taking decisions, we are taking calls, we are taking calibrated position because we need to be strong where we are given the geographical locational realities,&rdquo; Sitharaman said.
Also Watch|&nbsp;<a href="https://www.editorji.com/editorji-specials/the-india-story/decoded-nirmala-sitharaman-s-visit-in-washington-bid-to-boost-india-us-trade-ties-1650637495202" target="_blank">Decoded | Nirmala Sitharaman's visit in Washington: Bid to boost India-US trade ties?</a>

"This budget is full of new possibilities for more infrastructure, more investment, more growth, and more jobs," the prime minister narendra modi said

PM Narendra Modi praises Budget 2022 as 'people-friendly and progressive'

Prime Minister Narendra Modi has praised this year's Budget as 'people-friendly and progressive'

PM praises Budget 2022 as 'people-friendly and progressive'

I congratulate Finance Minister Nirmala Sitharaman for this 'People Friendly and Progressive budget'.
This budget brings in new hopes and opportunities for the people. It strengthens the economy; it's full of 'more infrastructure, more investment, more growth and more jobs'. There is also a new provision of green jobs; budget ensures a bright future for youth: PM
PM: Youth and middle class will benefit greatly from Digital Currency, Digital Banking, NHM ecosystem
PM: Natural farming along the banks of Ganga will give a boost to farmer

'An important aspect of this budget is the welfare of the poor,' Narendra&nbsp;Modi said

Union Budget 2022: Welfare of the poor is an important aspect of the Union Budget which is full of possibilities for more investments, infrastructure and jobs, Prime Minister <a href="https://www.editorji.com/business-news/budget/debate-with-open-mind-to-take-india-forward-pm-modi-ahead-of-budget-session-1643607886740" target="_blank">Narendra Modi</a> said on Tuesday.
Calling the budget "people-friendly and progressive", Modi said it has brought new confidence to usher development in the midst of one the most terrible calamities in 100 years, a reference to the <a href="https://www.editorji.com/coronavirus" target="_blank">COVID-19</a> pandemic.
In his televised remarks on the Union Budget 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament, Modi said this budget will create many new opportunities for the common people, besides strengthening the economy.
"This budget is full of new possibilities for more infrastructure, more investment, more growth, and more jobs," the prime minister said, adding that it will also open up the field of green jobs.
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/budget/top-5-takeaways-from-union-budget-2022-1643706009651" target="_blank">Top 5 takeaways from Union Budget 2022</a>
"An important aspect of this budget is the welfare of the poor," Modi said.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget</a>, with higher spending in areas like highways and affordable housing with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>

Finance Ministry via a notification has removed quarterly/monthly spending curbs on capital expenditures that were imposed on ministries in 2017.&nbsp;The move will hopefully lead to higher capital expenditure by the govt aiming to crowd in private investment.The Reserve Bank of India estimates that every one rupee spent by the Central government will lead to an increase in gross domestic product by over Rs 3.&nbsp;GDP&nbsp;target by brokerages are being lowered closer to 10% mark as localised lockdowns&nbsp;continue to hit industry and services.&nbsp;

Finance Ministry eases spending limits in hope to fuel economy 

Finance Ministry via a notification has removed quarterly/monthly spending curbs on capital expenditures that were imposed on ministries in 2017.&nbsp; The move will hopefully lead to higher capital expenditure by the govt aiming to crowd in private investment.The Reserve Bank of India estimates that every one rupee spent by the Central government will lead to an increase in gross domestic product by over Rs 3.&nbsp; GDP&nbsp;target by brokerages are being lowered closer to 10% mark as localised lockdowns&nbsp;continue to hit industry and services.&nbsp;

<ul>
<li>Finance Ministry eases rules on capital expenditure for ministries</li>
<li>Capital expenditure exempt from monthly/quarterly spending curbs</li>
<li>Spending curbs were imposed on ministries in 2017</li>
<li>Govt hoping to lead capex&nbsp;investment as GDP&nbsp;estimates continue to drop</li>
<li>RBI: 1 Rupee investment by govt = GDP&nbsp;increase of Rs 3</li>
</ul>

Finance Ministry via a notification has removed quarterly/monthly spending curbs on capital expenditures that were imposed on ministries in 2017.&nbsp; The move will hopefully lead to higher capital expenditure by the govt aiming to crowd in private investment.The Reserve Bank of India estimates that every one rupee spent by the Central government will lead to an increase in gross domestic product by over Rs 3.&nbsp; GDP&nbsp;target by brokerages are being lowered closer to 10% mark as localised lockdowns&nbsp;continue to hit industry and services.&nbsp;

₹12,000 cr interest-free 50-year loan to states: FM

PTI, New Delhi: Finance Minister Nirmala Sitharman on Monday announced a Rs 12,000 crore interest-free 50-year loan to states for spending on capital projects in a bid to boost economy.
Addressing a press conference, she said, out of the Rs 12,000 crore, Rs 1,600 crore will be given to north-eastern states and Rs 900 crore will be for Uttrakhand and Himachal Pradesh.
She said Rs 7,500 crore will be for the remaining states. Rs 2,000 crore will be given to states that fulfill pre-stated reforms.
The loan will have to be spent entirely on new or ongoing capital projects, she said adding that states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021.
The loan is over and above borrowing ceilings of the states and the repayment will be one bullet payment after 50 years, she added.
The Finance Minister also announced additional capital expenditure of Rs 25,000 crore by the central government.
This will be in addition to Rs 4.13 lakh crore budgeted, she said, adding that the additional money will be for spending on roads, defence infrastructure, water supply and urban development.

Finance Minister Nirmala Sitharman on Monday announced a ₹12,000 crore interest-free 50-year loan to states for spending on capital projects in a bid to boost the economy.&nbsp;The loan will have to be spent entirely on new or ongoing capital projects. The Government will also provide ₹25,000 crore in addition to ₹4.13 lakh crore budgeted for roads, defence infra, water supply and urban development.

PTI, New Delhi: Finance Minister Nirmala Sitharman on Monday announced a Rs 12,000 crore interest-free 50-year loan to states for spending on capital projects in a bid to boost economy.
Addressing a press conference, she said, out of the Rs 12,000 crore, Rs 1,600 crore will be given to north-eastern states and Rs 900 crore will be for Uttrakhand and Himachal Pradesh.
She said Rs 7,500 crore will be for the remaining states. Rs 2,000 crore will be given to states that fulfill pre-stated reforms.
The loan will have to be spent entirely on new or ongoing capital projects, she said adding that states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021.
The loan is over and above borrowing ceilings of the states and the repayment will be one bullet payment after 50 years, she added.
The Finance Minister also announced additional capital expenditure of Rs 25,000 crore by the central government.
This will be in addition to Rs 4.13 lakh crore budgeted, she said, adding that the additional money will be for spending on roads, defence infrastructure, water supply and urban development.

nirmala sitharman

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