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The Latest Breaking News from Budget

Net direct tax collections up 21.8% to ₹9.57 lakh crore

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The Hindu

Three 150-euro energy credits and mortgage income relief planned for Budget 2024

The government has signalled it will spend cautiously – despite expecting a surplus of 10 billion euro this year.

The Independent UK

State’s total revenue receipts increased marginally in 2023-24

TN's revenue receipts up 5.47% to ₹92,967.33 cr till Aug. SOTR increased to ₹59,616.01 cr, revenue deficit at ₹17,614.98 cr. Assembly session to commence on Monday, with focus on Kalaignar Mahalir Urimai Thittam & borrowings of ₹18,000 cr in Q3.

The Hindu

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Calls grow louder for Angamaly-Balaramapuram parallel rail line

Federation of Sabari Railway Action Council urges State govt. to extend Angamaly-Sabarimala rail line from Erumely to Balaramapuram, Thiruvananthapuram. New line to link industrial & tourism hubs, transport 850 truckloads of goods daily & bring tourist destinations on rail map. Railways have done feasibility survey for extension. ₹100 cr allocated…

The Hindu

A year after the mini-Budget ‘doom loop’, UK gilts look a lot less stressed

City Voices: Rather than a huge shift to de-risk by locking in the higher yields on offer this year, LDI schemes have been more focused on getting their houses in order

Evening Standard

Fiscal plans fly as overseas voting opens

The Labour Party has released its fiscal plan showing how its election promises and the ongoing cost pressures in the public sector would fit within Budget allowances.

Newsroom.co.nz

Study finds free childcare reform has ‘little benefit’ to poorer families

The Institute for Fiscal Studies said the measures announced in the Budget fail to prioritise inequalities in children’s development.

The Independent UK

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Tax cuts ‘virtually impossible’, says Jeremy Hunt in major blow for Tory right

Chancellor insists he still faces ‘very difficult decisions’ at Budget despite better economic news

The Independent UK

Balanced-budget plan unveiled by House Republicans - Roll Call

House Republicans released a long-delayed budget blueprint Tuesday that promises to bring the federal budget into balance over a decade.

Roll Call

What the Hunter thinks of a 'slash and burn' first Labor budget

Despite four Hunter ministers, the region gained little funding.

Newcastle Herald

Milma adopts growth-oriented Budget for 2023-24

Milma's 2023-24 Budget passes with rev. of ₹680.50 cr & exp. of ₹679.28 cr. Allocations for factories, HQ exp. & initiatives to ensure remunerative returns to farmers. Meeting also discussed dairy scenario & identified issues to be addressed with govt. support.

The Hindu

Letters to The Editor — September 16, 2023

Readers letters to The Hindu’s Letters to The Editor

The Hindu

Arrington sets House budget resolution markup next week - Roll Call

The House Budget panel plans to mark up a fiscal 2024 budget resolution Sept. 20, ending months of skepticism about whether it would happen.

Roll Call

Kalaignar Magalir Urimai Thogai is a massive, one-of-its-kind, data driven scheme: T.N. Finance Minister Thangam Thennarasu

Tamil Nadu Finance Minister Thangam Thennarasu in an interview with The Hindu spoke about issues related to GST, and managing revenue deficit and borrowings.

The Hindu

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Chicago Sun-Times

Chicago facing 2024 budget shortfall of $538 million — more than a third of it tied to migrant crisis

Mayor Brandon Johnson didn’t take his predecessor’s word for it when Mayor Lori Lightfoot said she’d left the city in great financial shape, with an $85 million shortfall. And it’s a good thing the new mayor was skeptical, his top aides told some City Council members in a budget briefing.

Newsroom.co.nz

Recession to end but Govt surplus delayed a year

The pre-election forecasts offer a rosier picture of the economy, with wages growing ahead of inflation, but tougher times for the Government’s own books.

Chicago Sun-Times

Comptroller candidate grilled, then approved, by City Council committee

Ald. Ray Lopez asked Chasse Rehwinkel about social media posts made while campaigning for candidates who want to cut the Chicago Police Department budget.

The National (Scotland)

'No decisions' made yet on tax rises at next Scottish Budget, says Shona Robison

FINANCE Secretary Shona Robison has said there have been “no decisions” made yet regarding raising taxes at the next Budget.

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The Hindu

Call gets louder for bigger ro-ro ferry, underwater tunnel in Vypeen-Fort Kochi corridor

With the government not handing over ₹10 crore announced in the Budget to procure the third ferry, it was decided earlier this month to source the sum from Cochin Smart Mission Limited

The Hindu

Rethink the emerging dynamics of India’s fiscal federalism

The dynamics of the emerging fiscal federalism of India entails significant rethinking especially in the context of the 16th Finance Commission

Evening Standard

OPINION - Even if you hate Ulez, you should be angry that central government tried to block it

George Osborne used to tell the world’s most expensive jokes. At the 2015 Budget, the then-chancellor said £1 million would be spent to commemorate the 600th anniversary of the Battle of Agincourt, primarily to land a gag about a Labour-SNP alliance. Further public money was allocated to reducing tolls on…

The Hindu

Freeze release of funds under SDF to prevent squandering of public money: FGG

The Hindu

How the Tamil Nadu Assembly dealt with the March 25, 1989 event

The Independent UK

UK cuts pothole repair spending more than many other major nations – report

Expenditure on local road maintenance in the UK fell from £4 billion in 2006 to £2 billion in 2019, the Local Government Association said.

The Hindu

In Telangana, few funds, but many promises

With more welfare schemes likely to be announced in Telangana, the government would do well in making sure that its finances are in place before any announcement is made

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