BlogBudgetEconomyEditor's InsightsUdaykumar K.V.

Union Budget 2022-23

Unusual, setting modern India on track Jargons and clichés are out. Budget 2022-23 is a vision document with actions for future India. Giving no space for an election year appeasement, Nirmala Sitharaman enviably presented the Union budget 2022-23, which the otherwise uproarious representatives of people listened in unusual silence.    I have watched every budget since 1991 - since the first one presented by Dr Manmohan Singh. Until 2014 every government had coalition compulsions with dictations from State satraps. Budget presentation was a ritual celebrated by a handful of privileged lots. Freebies, subsidies and tax cuts were the yardsticks of budget evaluation. Still, the ghosts haven’t fully disappeared. Hence, there are questions, though not so galore. The budget 2022-23 envisi...

Read More

Defence gets 15-year highest allocation

The defence sector has got the 15-year highest allocation. This is going to create huge job opportunities in India since India has been consistently reducing its dependence on imports. Budget for the Financial Year 2021-22 has given a major push to defence modernisation by increasing defence capital outlay by 18.75 per cent to ₹ 4,78,195.62 crore for the Financial Year. Excluding Defence Pension. The total allocations for Defence Services and other organisations/Departments under the Ministry of Defence for the year is ₹3.62.345.62 crore, an increase of ₹24,792.62 crores over the current year’s allocation. The capital expenditure for modernisation and infrastructure development of armed forces rose 18.75 per cent to ₹ crore over the previous year. There has been a consis...

Read More