
Much was being expected from the Budget 2023. It was expected that it will try to provide respite from the tough economic conditions. However, this Amritkal budget seems to have served only the privileged sections of the society.
The Ministry of Minority Affairs received 38% lesser allocation in this Budget (₹ 3097 crore) vis-à-vis Budget 2022 (₹ 5020 crore). Considerable reduction has been made in educational empowerment of the minorities which has factually reduced from ₹ 2515 crore (allocated in Budget 2022) to ₹1689 crore this year. If we further dive deep, it becomes evident that pre-matric scholarship for minorities has received only ₹433 crore this year which was budgeted at ̀ 1425 crore last year. Already, this age group is under immense psychological pressure since the break out of Covid-19 and now the dropout rate may go boundless. No doubt, funds for post-matric scholarship have been increased from ₹ 515 to ₹1065 crore, yet in the absence of students promoted from lower classes to senior classes, the need for post-matric scholarship allocation in future may decrease. It is pertinent to mention here that in case of under graduate and post-graduate minority students who undertake scholarship for professional and technical courses, a catastrophic reduction has been made in the allocation - from ₹365 crore in 2022-23 to ₹44 crore in 2023-24. Not only the decrease in allocation has taken place in the context of education for the minorities, rather in Pardhan Mantri Jan Vikas Karyakarm too, that aims at developing socio-economic infrastructure and basic amenities for the identified minority concentration area for improving their quality of life.
Bu hikaye BUSINESS ECONOMICS dergisinin March 1 - 31, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BUSINESS ECONOMICS dergisinin March 1 - 31, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap

"Spirituality is the search for the meaning of our existence and the purpose we serve."
In his insightful address, Ram Nath Kovind underscored the teachings of Paramhansa Ramakrishna, Maa Sarada, and Swami Vivekananda, emphasizing their vision of a world united by love and the boundless potential of the human spirit.

Some schemes welcomed, but real allocation declines
In the Annual Budget, the Finance Minister allocated ₹1.37 lakh crore to the Ministry of Agriculture and Farmers' Welfare, compared to ₹ 1.32 lakh crore in the previous budget.

Of Benchmarks & Benefits
Banks use various benchmark rates to determine loan pricing. Initially, they had complete discretion over interest rates, leading to the adoption of the Prime Lending Rate (PLR). This internally determined rate was applied to the bank’s most creditworthy customers, with additional risk premiums charged for borrowers deemed riskier. However, this system resulted in a wide disparity in interest rates among borrowers.

Sajjan Jindal, JSW Group Chairman receives 'Business Leader of the Decade' award
Sajjan Jindal, JSW Group Chairman, has been conferred with the coveted 'Business Leader of the Decade' honour at the 15th AIMA Managing India Awards, in recognition of his transformative leadership in expanding JSW Group into a global conglomerate.

India needs Development Finance Institutions: Bridging the Gap for MSMEs
India's economic landscape has long been driven by the dynamism of its micro, small, and medium enterprises (MSMEs), which play a crucial role in contributing to GDP and employment.

Rate cut to boost demand, says RBI Report
On February 19, 2025, the Reserve Bank of India (RBI) released its monthly bulletin, providing insights into the state of the economy.

INCOME TAX REFORMS
The new Income Tax Bill aims to streamline taxation by using simpler language and reducing the number of sections. Replacing the complex 1961 Act is a welcome move.

TACKLING INFLATION
India's retail inflation stood at 4.31 percent in January, marking a five-month low and a crucial moment in economic policy.

"Cultivating a global culture of wellness"
Dr. Robert M. Goldman: Dr. Robert Goldman explored the profound connection between science, spirituality, and medicine, emphasizing the importance of holistic longevity in shaping a healthier, more unified world.

Falta Special Economic Zone : it's contribution in the overall socio-economic development of the region
Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ. Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ.