Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 4 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.62 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Tuesday, ahead of the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">Budget</keyword> presentation. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the local currency gained strength as crude oil prices and the American currency retreated from their elevated levels. Moreover, foreign fund inflows also supported the rupee. At the interbank foreign exchange market, the local unit opened at 83.64, and touched an early high of 83.62, registering a gain of 4 paise from its previous close. On Monday, the rupee consolidated in a narrow range to settle 4 paise higher at 83.66 against the American currency. Forex traders said marketmen will closely watch the Union Budget for further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Finance Minister Nirmala Sitharaman will present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance. The Indian rupee has been down as dollar buying from the Reserve Bank of India (RBI), the government of India, defence, oil companies and foreign investors has kept dollar well bid. "All in-flows seem to be getting absorbed by the RBI. Expect rupee to be range-bound on Tuesday," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.20, lower by 0.10 per cent. Brent crude futures, the global oil benchmark, rose 0.05 per cent to USD 82.44 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 11.54 points, or 0.01 per cent higher at 80,513.62 points. The broader NSE Nifty was down 7 points, or 0.03 per cent, to 24,502.25 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 3,444.06 crore, according to exchange data. On the macroeconomic front, the government's pre-budget Economic Survey on Monday set a conservative growth forecast of 6.5 to 7 per cent for the current fiscal. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a><a href="https://www.businessinsider.in/budget/news/economic-survey-2024-industries-grow-by-9-5-fueling-economic-growth-to-8-2/articleshow/111923191.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/economic-survey-2024-industries-grow-by-9-5-fueling-economic-growth-to-8-2/articleshow/111923191.cms" target="_blank">Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%</a>

Rupee rises 4 paise to 83.62 against US dollar in early trade

Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> on Wednesday assured the new generation entrepreneurs in the defence equipment world that the 'Made in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>' products will get priority in defence procurement. Sixty-eight per cent of the defence budget has been earmarked for indigenous products, he added. While inaugurating the defExpo-2022 here, the Prime Minister also launched the Indian Military Airworthiness Procedures (IMAP), HTT-40, Indian Defence Mart and defence <keyword id="15298793" type="General" weightage="80" keywordseo="space-msn" source="Orion">Space Msn</keyword> besides virtually laying the foundation stone for the DEESA Airfield. He said the country was once a net importer of defence equipment, but over the last eight years, defence manufactured in India is in demand across the world, and the exports have grown eight times. It has touched USD 1.59 billion, and the country targets to achieve the USD 5 billion mark in the next five years. Citing the success of the Brahmos missile, Prime Minister <keyword id="6354642" type="General" weightage="80" keywordseo="modi" source="Orion">Modi</keyword> said it is placed in one of the best technology missile categories and many countries have evinced interest in buying it. All three defence wings and indigenous companies' innovations are putting the nation on global armament nation. INS Vikrant aircraft carrier, Lightweight Helicopter 'Prachand' and tanks and indigenous combat guns are the pride of India, he said. "In the coming years, Space Diplomacy is going to take India to a new height as our satellites will be sharing real-time access with 60 developing countries. <keyword id="62000" type="General" weightage="80" keywordseo="maritime-security" source="Orion">Maritime Security</keyword> is a global priority and India has taken initiative in maritime security in the Indian Ocean region, in which 46 friendly countries are working on it," he said. Some 450 Memoranda of Understandings and agreements are going to be signed during these four days of DefExpo-2022. The Prime Minister, without naming the Congress, said, "Earlier pigeons were released, now Cheetah is now released, this is the difference of the government." He added in the past years, "our majority budget was going into importing defence equipment, now the time has changed. All three defence wings have made a list of 411 equipment which will be purchased from domestic manufacturers, only select items will now be imported," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indians-to-benefit-as-canada-aims-to-grant-citizenship-to-300000-people-in-2022-23/articleshow/94956352.cms">Indians to benefit as Canada aims to grant citizenship to 300,000 people in 2022-23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-50-lakh-vehicles-deregistered-in-delhi-till-oct-17-this-year/articleshow/94956121.cms">Over 50 lakh vehicles deregistered in Delhi till Oct 17 this year</a>

68% of defence budget allocated for procuring indigenous equipment: PM

<ul><li>The Indian government has earmarked 68% of its procurement budget for buying from domestic players.</li><li>It’s also set aside 25% of its budget in defence research and development (R&amp;D) for collaborating with the private industry.</li><li>A new “independent, umbrella” body will be set up for private players to test new technology and get certified.</li></ul>The Indian government and its push for self-reliance in defence isn’t taking a back seat this year. Finance Minister Nirmala Sitharaman announced that an even bigger portion of the budget will be set aside to specifically procure new equipment from domestic players. <div type="ExtQuote" text="68% of the capital procurement budget will be earmarked for the domestic industry in 2022-23 — up from 58% last year." auname="Nirmala Sitharaman"></div> Moreover, the government will be opening up defence research and development (R&amp;D) to the larger industry for their contribution — this includes big wig companies, startups and academica. Around 25% of the defence R&amp;D budget will be earmarked for collaboration. Critics have pointed out that while India has a relatively large budget — it spends nearly 2% of its gross domestic product (GDP) on defence and has the third-largest defence spend in the world — it lags behind others when it comes to modernisation. The private industry will also be encouraged to design and develop military platforms and equipment in collaboration with the Defence Research and Development Organisation (DRDO) and other organisations through the Special Purpose Vehicle (SPV) model. “An independent umbrella body will be set up for meeting wide ranging testing and certification requirements,” explained Sitharaman on how the collaboration will play out. She highlighted technologies like artificial intelligence (AI), geospatial systems, drones, semiconductors and its ecosystem, space economy, genomics and pharmaceutical, and clean mobility systems as areas of focus. “[They] have immense potential to assist sustainable development at scale and modernise the country,” said Sitharaman.

India’s defence budget lays out more money for local contracts, a new independent approval body and leaves a quarter for R&D

Allocation for India’s defence budget may see a nominal increase

<ul><li>Focus on job creation and investment-driven growth should be a primary agenda in this <keyword id="6358021" type="General" weightage="50" keywordseo="budget" source="Orion">budget</keyword>. Infrastructure projects hold the key to the development of any country. </li><li>Tightening of the <keyword id="6357126" type="General" weightage="20" keywordseo="monetary-policy" source="Orion">monetary policy</keyword> and consecutive rate hikes by the RBI as inflation crept impacted the purchasing power capacity of a large section of the populace, especially in the rural sector. </li><li>In this economic climate, where credit availability is facing global headwinds, the government can offer support via credit stimulus to small and medium enterprises.</li></ul>The Union Budget is one of the most anticipated events, closely watched by market participants. By offering a blueprint for the economic roadmap of the union government, the budget often serves as a catalyst that stimulates overall economic and market growth. As the world battles economic headwinds and recessionary trends, all eyes are on the FM and what she will present on February 1. Being the last full-year budget before the Union Elections in 2024, we expect the government to deliver a growth-oriented budget, offering a roadmap to generate gainful employment opportunities without burning a hole in fiscal health. From a market perspective, any announcement or policy draft to bring the oil and gas sector under GST would be positive. The market will also react favorably to any plan to reduce pending receivables of infrastructure companies from government undertakings via a quick dispute resolution process. Moreover, new measures to prod state governments to improve the financial health of electricity companies will also be received well by the market. The markets, however, would be wary of a full-fledged populist budget or a significant increase in subsidies that impact the fiscal consolidation roadmap. These measures can result in a market correction. A substantial rise in borrowings that can increase long-term bond yields could make markets jittery. We believe that in this budget, the government will remain committed to maintaining macroeconomic stability by adopting a fiscal consolidation path. The government is dealing with slowing global growth and macroeconomic uncertainties threatening domestic growth. Against this backdrop, achieving the right balance between growth and inflation, with a focus on capacity building, is crucial. <cmsannotation type="cmsannotation" annotationid="A push to job creation and infra growth" comment="subhead2" text="A push to job creation and infra growth">A push to job creation and infra growth</cmsannotation> Focus on job creation and investment-driven growth should be a primary agenda in this budget. Infrastructure projects hold the key to the development of any country. An emphasis on infrastructure spending and increasing budgetary allocation to infra projects in the upcoming fiscal will be helpful in the push for growth. Steps towards infrastructure development will augment our job creation capabilities as well. Additional focus on building and improving public infrastructure such as water, metro, railways, defence, digital infrastructure, and green initiatives is the need of the hour. It will showcase our true potential as an investment destination, ensure easy and fast movement of goods and services, and help in employment generation. We hope that the upcoming budget takes steps to provide a fresh impetus to private capital expenditure that has been sluggish in the past few years. It will boost investment activities leading to more production and employment. The PLI scheme that offers production-linked incentives to multiple sectors and industries to manufacture domestically has been a huge success. We hope the government takes steps to include more industries and sectors under the PLI ambit. This move will boost manufacturing in India and help drive growth and employment opportunities. <cmsannotation type="cmsannotation" annotationid="Higher rural spending to beat inflation pressures" comment="subhead2" text="Higher rural spending to beat inflation pressures">Higher rural spending to beat inflation pressures</cmsannotation> Inflation has been relatively high in the last fiscal, driven by global cues. A tightening of the monetary policy and consecutive rate hikes by the RBI as inflation crept has impacted the purchasing power capacity of a large section of the populace, especially in the rural sector. We hope the government offers relief measures for those at the bottom of the pyramid. As the rural economy recovers slowly from the pandemic, more policy measures aimed at offering affordable housing options and expanding the scope of employment guarantee schemes will be helpful. Employment and housing are two core areas where government policy in the budget could bring about lasting change. The Economic advisory council to the Prime Minister has spoken about universal basic income and higher fund allocation for the social sector to reduce inequality. More steps in this direction will help augment rural growth and put the country on the path to prosperity and growth. The government can also offer relief by expanding the current income tax benefits for housing to support growth and affordability in rural areas. <cmsannotation type="cmsannotation" annotationid="Small and Medium enterprises" comment="subhead2" text="Small and Medium enterprises">Small and Medium enterprises</cmsannotation> The Indian economy has come out of the pandemic-induced slump and is a shining light, even as global economic growth stalls. In this economic climate, where credit availability is facing global headwinds, the government can offer support via credit stimulus to small and medium enterprises. The banking system is on the cusp of a good recovery with robust balance sheets, improving asset quality trends, and lower provisioning. A stimulus will help credit growth pick up steam. We hope the budget sets a roadmap to build and bolster the entrepreneurship culture in India with new policies and a push for fresh investments in agriculture and allied activities that can be a focus area. The budget should also focus on developing rural industries and improving the reach of healthcare facilities in rural areas. In a nutshell, the budget must focus on driving and sustaining growth via capacity creation. The government must take steps to build on its capital expenditure by fostering private capital expenditure. Making the atmosphere more conducive for capital market investments will help fulfil the dream of making the 20s truly The Indian Decade. (B Gopkumar is MD &amp; CEO, Axis Securities)

Conducive capital markets will help fulfil the dream of making this India’s Decade

<ul><li>The Indian government may not be able to fully utilise the budget it had allocated for the defence equipment and weapons purchases in 2021.</li><li>Strengthening the Navy may be one of the main focus for India's defence ministry as the threat coming from China rises.</li><li>India’s Defence budget has remained consistent roughly at 2% of the GDP in the last five years. </li></ul>The Indian government promised to spend 19% — of the ₹4.78 crore crore set aside for the defence sector — in buying new equipment, weapons, fighter jets et al before March 2022. That money may not be fully spent as planned, a national security and defence expert told Business Insider. The money may go into a corpus and is likely to be spent in the next year, according to <keyword id="300102" type="General" weightage="20" keywordseo="Sameer-Patil" source="Orion">Sameer Patil</keyword>, senior Fellow at ORF, who also believes that the upcoming budget on February 1 may focus more on strengthening India’s Navy. Not just Patil, another national security analyst Bhartendu Singh, also believes that while India’s allocation for defence will go up in absolute terms, it may remain small as a percentage of gross domestic product (GDP). India’s defence budget has remained consistent roughly at 2% of the GDP in the last five years. Even though the recommended <a href="https://prsindia.org/budgets/parliament/demand-for-grants-2021-22-analysis-defence#:~:text=Growth%20of%203%25%20over%20Budget,central%20government%20expenditure%20of%2014%25.">share is 3%</a>. <div type="image" title="This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers" msid="88989454" hostid="261"></div> Here’s why India needs to strengthen the Navy While India has been constantly battling China on its land borders, the budget this year may focus on building up and modernising its forces on the sea. This is largely because the Chinese threat in the Indian ocean has also been rising simultaneously, according to Patil. Commodore Anil Jai Singh, a submarine veteran, has also <a href="https://www.financialexpress.com/defence/china-raises-bay-of-bengal-security-concerns-with-ming-presence/2398960/">raised </a>concerns over China ‘gifting’ Type 035 Ming class diesel-electric submarine — the oldest class of submarines in the Chinese inventory — to Myanmar last month. China has been growing its presence in the Indian ocean even before the Galwan clash of 2021, Patil added. Some steps are already visible. “We have seen both L&amp;T and Mazagon dockyard have been shortlisted as India’s strategic partners for building the next set of submarines,” Patil added. This project — which aims to build P75i submarines — is likely to see an investment up to <a href="https://www.businessinsider.in/defense/news/the-defence-acquisition-council-dac-clears-the-issuing-request-for-proposal-rfp-for-the-indian-navys-mega-deal-to-procure-six-submarines/articleshow/83229317.cms">₹45,000 crore</a>. The Indian Armed Forces is also looking to defend itself by building anti-submarine warfare capabilities, purchasing more maritime surveillance drones and building a fleet of 300 for the <keyword id="6355100" type="General" weightage="20" keywordseo="Indian-navy" source="Orion">Indian navy</keyword>. According to Elara Capital’s report published in October 2021 the Indian Navy's Fleet stands at 150 ships and submarines,and the Coast Guard fleet is at 130 vessels. Each of these is expected to grow to 200 vessels by 2027. Orders are likely to be placed for 165 warships in the medium term, the report added. Government of India’s undertaking Garden Reach Shipbuilders &amp; Engineers (GRSE), in its red herring prospectus, highlighted that the Navy’s estimated capital budget up to 2027 is expected to be ₹4.5 lakh crore. <div type="image" title="This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers" msid="88989438" hostid="261"></div> If indeed, Finance Minister Nirmala Sitharaman makes provisions for higher spending on the Navy, these are some of the stocks to watch out for on Budget day. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in last one month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Naval </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cochin Shipyard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.98% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Garden Reach Shipbuilders &amp; Engineers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.52% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Aeronautics Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.15% </td></tr></tbody></table>Source: BSE SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/bajaj-finance-bajaj-auto-hero-motocorp-and-other-hot-stocks-on-january-19/slidelist/88985936.cms">Bajaj Finance, Bajaj Auto, Hero MotoCorp and other hot stocks on January 19</a> <a href="https://www.businessinsider.in/india/news/indias-daily-covid-19-cases-surge-by-7-8-in-a-day-active-cases-stand-at-1831000/articleshow/88987362.cms">India’s daily COVID-19 cases surge by 7.8% in a day, active cases stand at 18,31,000</a> <a href="https://www.businessinsider.in/stock-market/news/ags-transact-technologies-ipo-cash-management-firm-looking-to-halve-its-debt-with-ipo-money/articleshow/88987025.cms">AGS Transact is a cash management firm looking to halve its debt with IPO money</a>

This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers

<ul><li>Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> has arrived at the Ministry of Finance in the North Block ahead of the <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> presentation today.</li><li>The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House.</li><li>The government will present the Union Budget in paperless form like the previous two ones.</li></ul> Union Finance Minister Nirmala Sitharaman on Wednesday morning arrived at the Ministry of Finance in the North Block in the Central Secretariat building ahead of the Budget presentation today in Parliament. This Budget marks the last Budget of Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> government in the Parliament of this term. The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House. The government will present the Union Budget in paperless form like the previous two ones. The government had presented the first paperless budget in 2021. On Tuesday, Sitharaman tabled the Economic Survey for the Financial Year 2022-23 in Lok Sabha, which said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22. In view of the upcoming budget, top business leaders of the country have also put forward their suggestions for Nirmala Sitharaman. Arihant Infrastructures, CMD, Ashok Chhajer told on Monday that the government should focus on reducing home loan rates. "The government should reduce home loan rates. The affordable housing segment, which is capped at Rs 45 lakh, should be changed to Rs 60-75 lakh which is the average cost of a house in Metro cities and 2-tier cities," said Chhajer. Hiranandani Group MD, Niranjan Hiranandani said the Budget should focus on further investments in roads, railways, ports, airports and highways, as well as slum rehabilitation schemes. "There should be more focus on further investments in roads, railways, ports, airports and highways. The focus must also be on the slum rehabilitation schemes to make India a slum-free country," said Hiranandani. The Budget Session of the Parliament began on January 31 with President Droupadi Murmu's Address to the joint session of both houses. The President touched upon various subjects during her inaugural address, which was her first one after being elected to the topmost office of the country last year. She mentioned women empowerment, India's defence exports, and Aatmanirbhar Bharat by 2047 among others. Ahead of the President's Address, Prime Minister Narendra Modi addressed the media outside the Parliament. Prime Minister Modi said that India's Budget will attempt to meet the hopes and aspirations of the common citizens amid the unstable global economic situation. "Our Finance Minister will present one more Budget before the country tomorrow. In today's global circumstances, not only India but the entire world is looking at India's budget," PM Modi said. The Prime Minister firmly exuded confidence that Union Finance Minister Nirmala Sitharaman will make efforts to meet the expectations. "Amid the unstable global economic situation, India's budget will attempt to meet the hopes and aspirations of the common citizens. The ray of hope being seen by the world grows brighter-for this, I firmly believe that Nirmala Sitharaman will make all efforts to meet those aspirations," PM Modi said while addressing the media. The Prime Minister cited the "credible voices from the world of economy" and said that they have brought a positive message ahead of the session. "Today, the Budget Session is commencing. Credible voices from the world of economy, have brought in a positive message, a ray of hope and a beginning of enthusiasm," he said. The budget session that began on Tuesday with the President's address will take place in 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and will conclude on April 6. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2023-expectations-india-will-need-talent-in-quality-and-quantity-to-fuel-growth/articleshow/97438062.cms">India budget expectations: Reform in ESOP taxes, allocations needed to address skill gaps</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-funding-support-liberal-tax-regime-and-other-things-fintechs-expect-from-the-government/articleshow/97373905.cms">Budget 2023: Funding support, liberal tax regime and other things fintechs expect from the government</a> <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a>

Nirmala Sitharaman arrives at North Block ahead of Union Budget 2023 today

India's defence budget has seen a small increase

<ul><li><keyword id="2257489" type="PERSON" weightage="20" keywordseo="PM-Narendra-Modi">PM Narendra Modi</keyword> while addressing the NCC Rally at Cariappa Ground in Delhi today said India would soon be known as a producer of defence equipment.</li><li>India is the second largest importer of defence equipment and the government has been keen on cutting back.</li><li>Speaking to Business Insider, experts said that India’s efforts have been slow but steady, and the private sector must not try to replicate existing technologies but work on stuff that will be relevant in the future.</li></ul>India’s prime minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> may have signalled a significant allocation for the defence equipment manufacturing, three days before the big annual <keyword id="6358021" type="ORGANIZATION" weightage="20" keywordseo="budget">budget</keyword> for the next financial year. While addressing a rally of the <a href="https://twitter.com/narendramodi/status/1354689423422578688?s=20">National Cadet Corps (NCC) at Cariappa Ground</a> in New Delhi today, Modi said, “India would soon be known as a producer of defence equipment, instead of being a market as it is today.” It is one of the expectations from the budget to be presented by Finance Minister Nirmala Sitharaman on February 1. While the actual expenditure on defence has nearly doubled, its share of gross domestic product (GDP) has remained largely unchanged. But with tensions flaring along the India-China border and the ambitious revenue target of ₹1,750 billion in the Draft Defence Production &amp; Export Promotion Policy (DPEPP-2020), it is likely to be better this time. <div type="image" title="The defence budget has increased 1.9 times in the last five years" msid="80510999" hostid="261"></div> The intent of the draft is to become self-reliant with a clear focus on doubling the share of procurement from the domestic industry to ₹1,400 billion by FY25 with a clear focus on doubling the share of procurement from the domestic industry. In the last couple of years, India’s export of defence equipment has doubled to ₹100 billion. And, the government also has ambitious plans to increase defence exports to ₹350 billion by FY25, which assures that something is definitely on the cards. Experts say, the government’s efforts to boost domestic manufacturing of defence equipment by private companies has two problems: <ol><li>While some progress has been made by companies like Mazagon Dock Shipbuilders, HAL and Larsen and Toubro, most such projects have been marred by delays.</li><li>As Lieutenant General PJS Pannu, the former deputy chief of Integrated Defence Staff, explained on Business Insider, there is a lack of innovation and that private players should not try to replicate existing technologies and instead innovate alongside the advanced military powers of the world.</li></ol>While India attempts to become self reliant in defence, it remains the second-largest defence equipment importer in the world. <div type="image" title="India defense exports" msid="80511105" hostid="261"></div> Sameer Patil, a security analyst at Gateway House India in an exclusive conversation with Business Insider, said, “ I think in the last 10 years based on India’s modernized military modernization, we have made a decent effort, at least in terms of making sure that much of these position actually happens through domestic production tear involving the at least the defence, public sector units, and to some extent the private sector units.” <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name of the equipment </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maker </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Scorpène class submarine </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mazagon Dock Shipbuilders </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> K9 missile </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td></tr></tbody></table> <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="7" retweetcount="0" status="#BudgetInsider | @Iyer_Sriram in conversation with @GatewayHouseIND's @sameerpatilIND and Lt General PJS Pannu on w… https://t.co/PIe7wFGeP2" createdat="1611751284000" id="1354409169382608896"></div> Domestic defence manufacturing has a huge potential India’s defence manufacturing industry is estimated to be worth $800 billion, with the public sector accounting for the lion’s share. This year, with the implementation of Atma Nirbhar Bharat proposals and increasing border tensions, defence upgradation is likely to be prioritised, and the private sector may get a bigger piece of the pie, especially at home. And, by creating <a href="https://www.businessinsider.in/defense/news/india-likely-to-introduce-a-second-defence-import-embargo-list-by-the-end-of-year-as-it-chases-down-5-billion-in-exports/articleshow/77797223.cms">a list</a> of arms and ammunition that can’t be imported, the government has become local companies an opportunity to chip and fill the void. The <a href="https://www.businessinsider.in/defense/news/india-increases-fdi-limit-in-defence-manufacturing-and-will-ban-certain-import/articleshow/75775865.cms">foreign direct investment</a> (FDI) limit in the defence sector has also been increased from 49% to 74% under the automatic route. Lieutenant general PJS Pannu told Business Insider that India should catch up with other countries rather than investing and working on the old ideas. Are you going to produce what the others have produced a few years back, or what you’re going to innovate is something ahead of time which others don’t have? You can keep going on a loop where if somebody was making an investment about 20 years back and now from there you’re getting an idea, and you’re saying OK. If something was produced about 20 years back now let me catch up and start making the same product, he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indian-grooming-startup-bombay-shaving-company-gets-45-crore-investment-from-dettol-maker-reckitt-benckiser/articleshow/80491558.cms">Indian grooming startup Bombay Shaving Company gets ₹45 crore investment from Dettol maker Reckitt Benckiser</a> <a href="https://www.businessinsider.in/tech/news/apple-demolished-q1-earnings-estimates-and-set-a-new-record-with-111-billion-in-revenue/articleshow/80490065.cms">Apple demolished Q1 earnings estimates and set a new record with $111 billion in revenue</a>

India’s Prime Minister Narendra Modi may just have signalled a big allocation for defence equipment manufacturing, 3 days before the budget

<ul><li>₹4.71 lakh crore allocated to defence in Union Budget 2020.</li><li>₹1.33 lakh crore allocated to defence pensions. </li><li>According to World Bank, India is the fourth largest military spending nation.</li></ul> The Union Budget 2020-2021 allocated ₹4,71,378 crore towards defence expenditure this year. Despite the “marginal” increase, resources aren’t nearly enough to meet the department’s requirements. Last year’s budget made the headline for being the lowest since 1962, which was when India went to war against China. A lion’s share of the budget has been allocated to the Army, followed by the Navy and the Airforce. The majority goes towards paying the pensions and salaries of personnel. Pensions, alone, have doubled over the last five years. It’s gone from ₹60,000 crore to ₹1,33,825 crore. It’s not only the magnitude of the allocation that’s a cause of concern but the fact that it’s a recurring future impact. This leaves marginal amounts left over for the Ministry of Defence to upgrade its equipment. This is particularly harrowing for the Air Force and Navy, which are more tech-intensive than the Army. The issue of modernisation Most of this year’s defence expenditure will go towards acquiring the new Tejas Mk 1A aircraft. Although indigenously developed, the aircraft took over three decades to reach fruition and match the capabilities of the MiG-21 aircraft. Even so, its capabilities pale in comparison to other fighter jets around the world. Nonetheless, India plans to order 83 Tejas Mk1A jets, according to ICICI securities expectations. Acquiring new equipment has been a pain point for the defence sector for a while. According to Sameer Patil, a fellow in international security studies with Gateway House — a think tank based out of Mumbai — the Armed Forces currently prefer to import rather than buy homegrown tech. The technology produced in India isn’t up to the mark and better versions of it are available off-the-shelf from foreign suppliers. Patil explains that India’s military research branch — the <keyword id="152819" type="COMPANY" weightage="20" keywordseo="Defence-Research-and-Development-Organisation">Defence Research and Development Organisation</keyword> (DRDO) — also discourages private participation, claiming that they have superior expertise and should get priority in the strategic sector. Despite its shortcomings, India is the fourth largest military spending the world according to the World Bank. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/nirmala-skitharaman-recites-kashmiri-poem-comparing-india-to-a-daal-lake-lotus/articleshow/73832846.cms?src=hp_latest">Nirmala Sitharaman ditches Tamil to recite a Kashmiri poem - comparing India to a Dal Lake lotus</a>

India’s defence budget 2020 increased 9% but not enough to meet the defence needs

Narendra Modi, elected leader of the National Democratic Alliance (NDA) will take oath as <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s prime minister for a historic third term on Sunday evening at 7:15 PM. After a decade of full majority governance, Modi will now run a <keyword id="20018803" type="General" weightage="20" keywordseo="coalition-government" source="keywords">coalition government</keyword>, with the Telugu Desam Party and Janata Dal (United) as key partners. Despite being in coalition, experts feel that there won't be much change in the new government's economic agenda. Economists believe that <keyword id="20509939" type="General" weightage="100" keywordseo="Modi-3-0" source="keywords">Modi 3.0</keyword> will not slow down the reforms and to achieve the goal of Vikshit Bharat by 2047, <keyword id="20404815" type="General" weightage="20" keywordseo="economic-reforms" source="keywords">economic reforms</keyword> and policy reviews need to be continued across multiple sectors, including infrastructure, labour, and manufacturing. These reforms are deemed essential to drive economic growth and development in India. "The oft-repeated target of becoming a developed country by 2047 requires far-reaching reforms in the factor market, opening up of the economy and infrastructure development and a thrust towards labour intensive manufacturing. In a coalition environment it may not be easy to carry out big bang reforms, but the thrust of incremental reforms should be in this direction," said M Govind Rao, Member, Fourteenth Finance Commission and former Director, National Institute of Public Finance and Policy. Economists have noted that spending on <keyword id="20229510" type="General" weightage="20" keywordseo="populist-measures" source="keywords">populist measures</keyword> will increase because of coalition politics, however, the government will continue with its focus on "<keyword id="20054650" type="General" weightage="20" keywordseo="Made-In-India" source="keywords">Made In India</keyword>" reforms. Sectors like infrastructure and manufacturing will remain the priority of the government. "There's likely to be a swerve towards greater populist spending and some commitment of resources to states of alliance partners is also likely. But India's public finances are in relatively robust health and to be augmented by significant reserves from the RBI. India's infrastructure spending will continue apace but perhaps with greater private sector participation. Expenditure on defence modernisation and indigenisation will also undoubtedly continue" said Gautam Sen, retired political economist London School of Economics and author, Former member of the Indo-UK Roundtable and Senior Consultant UNDP. The full budget expected to be announced in July, will reflect the economic agenda of Modi 3.0. Many economists expect the Budget will likely see a spurt in welfare and support schemes mainly for farmers and poor. The Budget will indicate the policy priorities for the new coalition government and decide the growth trajectory for the next five years, On the economic front, economists have cautioned the government about the potential setbacks from a sluggish global economy and geopolitical crisis. "One constraint remains the sluggish world economy, which could suffer worse setbacks next year, though Indian growth has risen despite it. The unknown is the impact of external shocks of intensifying wars and uncertainty over energy prices" added Sen. Meanwhile, in a significant boost to the start of Modi 3.0, the Reserve Bank of India on June 7 revised upwards the <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24.

You Searched For "defence budget of india" and got 12 results

FM cuts customs duty on minerals critical for energy transition

PTI

Rupee rises 4 paise to 83.62 against US dollar in early trade

PTI

68% of defence budget allocated for procuring indigenous equipment: PM

IANS

India’s defence budget lays out more money for local contracts, a new independent approval body and leaves a quarter for R&D

Prabhjote Gill

Allocation for India’s defence budget may see a nominal increase

Kritti Bhalla

Conducive capital markets will help fulfil the dream of making this India’s Decade

B. Gopkumar

This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers

Kritti Bhalla

Nirmala Sitharaman arrives at North Block ahead of Union Budget 2023 today

ANI

India's defence budget has seen a small increase

Business Insider India

India’s Prime Minister Narendra Modi may just have signalled a big allocation for defence equipment manufacturing, 3 days before the budget

Navdeep

Prabhjote

India’s defence budget 2020 increased 9% but not enough to meet the defence needs

Navdeep

Prabhjote

Economists expect big bang reforms to continue under Modi 3.0

ANI

Popular Keywords

Buying Guides