Mumbai, March 6 (IANS) Maharashtra Chief Minister Devendra Fadnavis, in the annual Budget for 2026–27 presented on Friday in the state Assembly, proposed a slew of tax measures aimed at mobilising additional revenue.He proposed increasing the environmental tax on vehicles in the non-transport (private) category that comply with BS-IV and below emission norms. The tax on two-wheelers will be raised from Rs 2,000 to Rs 4,000, on light motor vehicles (petrol) from Rs 3,000 to Rs 6,000, and on lig…
Latest Fiscal Responsibility and Budget Management Act News & Updates
Mumbai, March 6 (IANS) Amid a record-breaking debt of Rs 9.32 lakh crore and the ambitious goal to reach a one trillion dollar economy by 2030 and five trillion dollar under Viskit Maharashtra 2047 mission, Maharashtra Chief Minister Devendra Fadnavis, who holds the planning and finance departments, will on Friday present the state’s annual budget for 2026-27. The chief minister will have to navigate a high-stakes tightrope walk as the budget is expected to be on the “Reform over Rhetoric” — …
Chandigarh, March 2 (IANS) Reinforcing the state’s commitment to fiscal prudence and development-led growth, Haryana Chief Minister Nayab Singh Saini on Monday presented the state Budget for 2026-27, emphasising seven key pillars that underscore disciplined financial management and a sharp rise in capital investment. CM Saini said the best indicator of a government’s financial management is the fiscal deficit. “Between 2005 and 2014, Haryana’s fiscal deficit increased from Rs 286 …
Gandhinagar, Feb 24 (IANS) Gujarat has recorded an economic growth rate of 7.4 per cent, surpassing the national average of 6.5 per cent, according to details released by the state’s Finance Department, which also outlined the government’s fiscal position and expenditure priorities for 2026-27. The data show that over 13 years from 2012-13 to 2024-25, the state achieved an average real economic growth rate of 8.3 per cent.The government attributed the performance to sustained fiscal di…
New Delhi, Feb 1 (IANS) Senior Congress leader and former Finance Minister P. Chidambaram issued a scathing critique of the Union Budget 2026-27 presented by Finance Minister Nirmala Sitharaman on Sunday, declaring that it “failed the test of economic strategy and economic statesmanship”. In a detailed statement, Chidambaram expressed astonishment at the budget speech, arguing that it disregarded the major challenges highlighted in the Economic Survey 2025-26 and relied instead on a barrage of a…