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Tag: Budget 2020

Budget unlikely to have much inflationary impact: RBI Governor

New Delhi: RBI Governor Shaktikanta Das on Saturday said the budget proposals will not have much inflationary impact as the government has by and large remained within the fiscal deficit roadmap set under the FRBM Act. The Union Budget earlier this month raised the fiscal deficit target to 3.8 per cent of the GDP for […]

Odisha Farmers Seek Rs 75,000 Cr Allocation In State Budget

Bhubaneswar: Ahead of the Budget session of Odisha Assembly, Naba Nirman Krushak Sangathan (NNKS) on Thursday demanded 50 per cent share in the 2020-21 state budget for the overall development of farmers in the State. NNKS has been spearheading the farmer agitation in the State demanding price, prestige and pension. Addressing a presser, NNKS convenor, […]

Railway Minister Asks Odisha To Sort Land Acquisition Issues For More Funds

Bhubaneswar/New Delhi: The Odisha House Committee on Railways headed by Assembly Speaker Surjya Narayan Patro on Tuesday met Railway Minister Piyush Goyal in New Delhi and submitted a memorandum demanding more funds for the State. In the memorandum to Goyal, the panel reportedly demanded more budgetary allocation for new railway lines for Puri-Konark, Jajpur-Dhamra, Bargarh-Nuapada […]

Work Begins On Budget Proposals; DFS Approves Raising Deposit Insurance To Rs 5 Lakh: Fin Secretary

New Delhi: Insurance cover on bank deposits has been increased to Rs 5 lakh from Rs 1 lakh effective Tuesday, the Reserve Bank of India (RBI) said in a statement. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. This, the RBI said, has been […]

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 […]

Home Appliances To Toys, Steep Duty Hike To Pinch Consumers

New Delhi: In an effort to lift the domestic MSMEs, keep imports down and raise revenue, the Indian government on Saturday hiked customs duty on several products, indicating a price rise soon for millions of consumers across the spectrum – from household appliances to electric vehicles and even toys. A day prior to the Budget […]

FM Raises Deposit Insurance Cover Five Times To Rs 5 Lakh

New Delhi: To address concerns of small depositors over failure of banks, Finance Minister Nirmala Sitharaman on Saturday proposed to raise the insurance cover on saving deposits five times to Rs 5 lakh. The decision assumes significance in the wake of a scam in the Punjab and Maharashtra Cooperative (PMC) Bank affecting lakhs of customers […]

Union Budget 2020: Here's Who Said What

Bhubaneswar: While presenting her second Budget, Finance Minister Nirmala Sitharaman said that the Budget is woven around aspirational India, economic development and caring society. The Union Budget for 2020-21 has also been termed an ‘all-encompassing’ Budget as it touched upon all the aspects of economy. On the Budget, Prime Minister Narendra Modi said the new […]

medical devices
Industry Hails 5% Health Cess On Imports Of Medical Devices

New Delhi: India’s medical devices industry on Friday welcomed Finance Minister Nirmala Sitharaman’s move to impose a health cess of 5 per cent on imports of specified medical equipment to give an impetus to the domestic industry and to generate resources for health services. “India is now making world class goods and exporting such products. […]

Budget 2020: Sensex Plummets 988 Pts; Nifty Below 11,700

Mumbai: The BSE Sensex plummeted 988 points on Saturday to close below the key 40,000-mark, led by an intense broad-based selloff after the Union Budget for 2020-21 failed to live up to market expectations. Experts said the Budget has been below par considering investors had extremely high expectations from the government to revive the economy. […]

Sitharaman cuts short Budget
Sitharaman cuts short Budget speech after feeling unwell

New Delhi: Finance Minister Nirmala Sitharaman on Saturday cut short her Budget speech as she felt unwell after speaking for a record 160 minutes in Lok Sabha. Sitharaman had only two pages of her Budget speech unread when she appeared uneasy and was seen wiping sweat from her forehead. She was offered candies by her […]

Budget 2020 Sensex
Budget 2020: Sensex plunges over 450 pts, Nifty below 11,900

Mumbai: Market benchmark Sensex plunged over 450 points in afternoon session on Saturday after the Union Budget projected widening of fiscal deficit for the current financial year. The 30-share BSE index was trading 452.14 points, or 1.11 per cent, lower at 40,271.35 at 1320 hours. Similarly, the 50-share NSE Nifty cracked 111.70 or 0.93 per […]

Govt to list LIC on exchanges: FM Nirmala Sitharaman

New Delhi: Government will reduce its stake in state life insurer LIC through an IPO, Finance Minister Nirmala Sitharaman said on Saturday. “Government will list LIC on the stock exchanges”, she said in her Budget speech. This could be the country’s biggest initial public offering in recent times, the government will list Life Insurance Corp […]

Nirmala-Sitharaman budget 2020
Union Budget 2020: Push for transportation; Rs 1.7 lakh cr allocated

New Delhi: With major emphasis on transportation and the required infrastructure, Finance Minister Nirmala Sitharaman on Saturday made several announcements with an allocation of Rs 1.7 lakh crore for transport infrastructure. Presenting the Union Budget for the financial year 2020-21, Sitharaman said that the government plans to monetise 12 bundles of national highways of 6,000 […]

Govt committed to doubling farmers' income by 2022: FM

New Delhi: Emphasising on doubling the farm income of farmers across the country by 2022, Union Finance Minister Nirmala Sitharaman in her 2020-21 Budget speech said that the government has provided 11 crore farmers under Aspirational India programme. “Under Aspirational India programme, the first point is agriculture, irrigation and rural development. We are committed to […]

Equity market trades flat ahead of Union Budget

Mumbai: As the markets opened on Saturday on the day of the Union Budget the key equity indices traded on a flat-to-positive note. The tepid trade in the domestic indices can also be attributed to the decline in the US and Asian markets after US President Donald Trump declared a public health emergency in response […]

Will the Union Budget 2020 make it India's decade?

New Delhi: Indications from statements made by President Ram Nath Kovind and Prime Minister Narendra Modi at the start of the Parliament’s Budget session may presage a Budget woven around the theme of the start of a new decade and the building of a New India. PM Modi kicked off the “new decade” theme on […]

7th pay commission update on pension hike
7th Pay Commission: Big Hike For Central Govt Employees In Budget 2020?

It seems, there are some good news on the cards for the Central government employees as the Narendra Modi government is expected to make some major announcements on pay hike under the 7th Pay Commission during Budget 2020. It is believed that the government will announce a hike in dearness allowance (DA) on the basis of […]