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Tag: Budget

FPI
FPIs Invest Rs 20,593 Cr In Indian Equities Since Budget

Mumbai: Foreign portfolio investments (FPI), which have touched record highs amid the pandemic, have continued to pour into the Indian equity market post the Union Budget for FY22. Net FPI inflow into equities in the month of February has been Rs 20,593 crore, as per NSDL data. Since January, FPIs have invested over Rs 39,000 […]

Know History Of Budgets In India: From Landmark to Dream and Millennium Budgets et al!
Know History Of Budgets In India: From Landmark to Dream and Millennium Budgets et al!

Bhubaneswar: Since Independence, the country has seen a total of around 75 budgets, including interim budgets. The Union Finance Minister Nirmala Sitharaman will be presenting the 76th Union Budget on Monday. Here is a glance at the History of Union Budget In India. When rewinding to Pre-independence India, the fact emerges out is the first […]

ISPRL
Budget focus on strategic oil reserve, extends ISPRL tax break

New Delhi: India has taken yet another step towards building a credible strategic oil reserve by extending tax breaks to the Indian Strategic Petroleum Reserves Ltd (ISPRL) on income generated while replenishing oil stock in storage facilities. The Budget proposals presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday has exempted tax on any […]

Nirmala-Sitharaman
TDS Deduction For Big E-tailers, Relief For Small Traders: FM Sitharaman

New Delhi: Further tightening the noose on global e-commerce giants like Amazon and Walmart-owned Flipkart, the Indian government has announced mandatory TDS deduction on e-commerce transactions for the participants on the e-marketplaces. “In order to widen and deepen the tax net, it is proposed to provide that e-commerce operator shall deduct TDS on all payments […]

Abhijit-Banerjee
Reintroduce Wealth Tax, Re-Finance Banking Sector: Abhijit Vinayak Banerjee

Kolkata: Nobel laureate and economist Abhijit Vinayak Banerjee has suggested re-introduction of the wealth tax, and said the government should give priority to re-financing the banking sector and improve infrastructure, while lauding the NDA regime’s commitment to a host of welfare measures. “Given the amount of inequality we now have, a wealth tax is completely […]

Modi
PM Modi Personally Overseeing Budget To Put Economy Back On Track

New Delhi:  The dismal economic growth has forced the government to step on the gas ahead of the Union Budget — with sources saying that it is not just North Block assigned to the Budget — but even Prime Minister Narendra Modi himself taking on an active role. Modi is meeting economists at Niti Aayog […]

PM-Modi
After 5% Growth Estimates, PM Modi Seeks Suggestions On Budget

New Delhi: A day after the modest 5 per cent growth estimates by the government, Prime Minister Narendra Modi on Wednesday sought to engage with the people directly on their demands, aspirations and wishes from the Union Budget in reaching towards developmental growth. “The Union Budget represents the aspirations of 130 crore Indians and lays […]

Budget to boost investment, comprehensive steps envisaged: FM

New Delhi: Finance Minister Nirmala Sitharaman Friday said the big picture presented in the Budget is backed with a plan to increase investment without compromising on the fiscal consolidation roadmap. Replying after a general discussion on the Union Budget 2019-20 in the Rajya Sabha, the minister said, “Comprehensive steps” have been envisaged for the next […]

FInance-Minister
Data presented in Budget is 100 per cent above board: Finance Minister

New Delhi: Amid a debate over variance in numbers in the Economic Survey and the Budget, Finance Minister Nirmala Sitharaman Wednesday said both the documents present consistent picture and her budget numbers are authentic and projections based on realistic estimates. “The data which is given in the Budget is 100 per cent above board…there need […]

Additional Rs 1.5L Deduction of Interest for Affordable Housing: Sitharaman

New Delhi: The effective tax rates for the higher income group individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above is proposed to be increased by around 3 percent and 7 percent respectively. Presenting the General Budget 2019-20 in the Parliament today, Union Minister of Finance […]

Credit Guarantee Enhancement Corporation to be set up: FM

New Delhi: A Credit Guarantee Enhancement Corporation is to be set up in 2019-20. This was announced by the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament today. The Finance Minister further said that we recognize that investment-driven growth requires access to low cost capital. It […]

New Education Policy: Centre allocates Rs 400 crore for creating world class institutions

Bhubaneswar: The Centre will soon introduce a new ‘National Education Policy’ to transform higher education system in the country. The new policy has proposed major changes in both school and higher education among others, better Governance systems and brings greater focus on research and innovation. An amount of Rs. 400 crore has been provided for […]

Scheme to modernize fishery sector: Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday announced a ‘Pradhan Mantri Matsya Sampada Yojana to modernize the fishery sector. Presenting the Budget for 2019-20 in the Lok Sabha, Sitharaman said fishing and fishermen were closely aligned with farming and were crucial to rural India. “Through the focussed Pradhan Mantri Matsya Sampada Yojana, the Department […]

ISRO's new commercial arm incorporated: Sitharaman

New Delhi: To tap benefits of the Indian Space Research Organisation (ISRO), a public sector enterprise, New Space India Limited (NSIL) has been incorporated, Union Finance Minister Nirmala Sitharaman announced on Friday. NSIL’s primary aim will be to scale up industry participation in Indian space programmes. “India has emerged as a major space power. Time […]

Govt to double down on creating New-Age skill sets: Sitharaman

New Delhi: Realising the need to create skilled professionals in the New-Age technologies that are fast changing the business landscape for both big and small enterprises, Finance Minister Nirmala Sitharaman on Friday said the government would double down on its efforts to help develop the required skill sets needed by the industries across the spectrum. […]

Sitharaman for public private partnership in railways

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday stressed that the railways need an investment of Rs 50 lakh crore from 2018 to 2030 and proposed public private partnership to unleash faster development of passenger and freight services. Presenting the Union Budget in Parliament, Sitharaman said: “It is estimated that railway infrastructure would need […]

1.25 lakh km roads to be upgraded: Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said 1.25 lakh km of roads across the country will be upgraded under phase three of the Pradhan Mantri Gram Sadak Yojana (PMGSY). Presenting the Budget for 2019-20 in the Lok Sabha, Sitharaman said allocation of Rs 80,250 crore had been made for the plan.

Sitharaman announces creation of 'social stock exchange'

New Delhi: Finance Minister Nirmala Sitharaman on Friday announced the setting up of a social stock exchange under the Securities and Exchange Board of India (SEBI) for listing of organisations which work for social welfare. Presenting her maiden Union Budget, the Minister said that the exchange would help social and voluntary organisations which work for […]

Indian economy to reach $3tn in current fiscal: Sitharaman

New Delhi: Presenting her first Union Budget, Finance Minister Nirmala Sitharaman on Friday said that India will become a $3 trillion economy in the financial year 2019-2020. She also said that many structural changes are needed for the country to become a $5 trillion economy, adding the target is eminently achievable. The Economic Survey for […]

Sitharaman dumps Budget briefcase for 'bahi khaata'

New Delhi: Setting a new precedent Union Finance Minister Nirmala Sitharaman on Friday was seen hugging the budget documents wrapped in a red cloth, the traditional ‘bahi khaata’ way, instead of the leather briefcase that until now her predecessors marched out with. Chief Economic Advisor K. Subramanian said that it was a departure from “slavery […]

Sensex reclaims 40,000 mark ahead of Budget

Mumbai: Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation. The 30-share index was trading 114.67 points, or 0.29 per cent, higher at 40,022.73 at 0930 hours. Similarly, the broader Nifty was quoting 31.85 points, or 0.27 per cent, […]

chilika
Op-Ed: Ecotourism Boost A Welcome Move

By Ashutosh Mishra Bhubaneswar: Ecotourism is the buzzword. Odisha government, too, seems keen to make the most of it having set aside Rs 7.7 crore in the current budget for infrastructure development at ecotourism sites. This sector has tremendous potential for revenue generation and the best thing about it is that local communities have a […]

Budget discussion may start from July 8: FinMin

New Delhi: Parliament is likely to start discussion on the General Budget on July 8 while voting on Demands for Grants is likely between July 11-17 as the Narendra Modi government presents the first Budget of the second term on July 5. “The tentative dates for discussion and voting on demands-for-grants for 2O19-20 are expected […]

Income-Tax
Budget unlikely to up Rs 2.5 lakh income tax exemption limit

New Delhi: The current basic income tax exemption limit of Rs 2.5 lakh is unlikely to be raised in the forthcoming full Budget 2019-20, according to informed sources, as the Finance Ministry has already announced a provision whereby individuals earning up to Rs 5 lakh can get full tax rebate under Section 87A. Those earning […]

odisha-ssembllyyy
Odisha budget likely to get bigger with higher market borrowings

Bhubaneswar: With an increase in revenue collection, Odisha government is expected to present a bigger state budget and the size is expected to increase by least 10 percent this year. Amid such a scenario, all eyes are on the state’s dependency on market borrowings which are also expected to increase. The pre-budget consultations chaired by […]