Tag: Budget 2020 21

New Delhi: When India’s Economic Survey, which serves as the official report of the state of the economy, talked about Kautilya’s “Arthashastra” and Thiruvalluvar’s “Thirukural”, it turned a nation with a fiscal deficit surpassing 3.3 per cent into a “dominant economic power globally” by “design”. Ironic and detached from political and fiscal reality it may […]

New Delhi: Union Finance Minister Nirmala Sitharaman allocated Rs 69000 crore including Rs 6400 crore for PM Jan Aushadhi Yojna for the healthcare sector on Saturday as she announced that the Budget 2020 is woven around 3 prominent themes – Aspirational India, Economic Development and Caring Society which includes health as one of the fundamental […]

New Delhi: Industry observers and analysts have lauded the government’s proposal to introduce dedicated rail and flight transport services for the agri-allied sector. Under the 16-point plan to boost agriculture and allied sectors, Sitharaman announced in her Union Budget presentation that Kisan Rail, a special refrigerated rail service, under private-public-partnership, will be launched for speedy […]

Bhubaneswar: In contrast to the fears of a decreased central devolution to Odisha owing to affects of economic slowdown on GST collection, the budget 2020-21 has, however, budgeted a hefty rise of 19 per cent in the devolution of net proceeds of taxes and duties to the State. As per the Budget 2020-21 tabled by […]

New Delhi: Prime Minister Narendra Modi on Saturday praised the Union budget for its “vision and action” and was joined by top BJP leaders in hailing it, but the Opposition slammed Finance Minister Nirmala Sitharaman’s announcements as “insipid”, saying they show that the government is “all talk”. Sitharaman’s second budget, which she took a record […]

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 […]

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 […]

New Delhi: Listing of insurance behemoth Life Insurance Corporation (LIC) may be done in the second half of the next financial year, Finance Secretary Rajiv Kumar said on Sunday. Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 on Saturday announced stake sale in LIC through an initial public offer in the next fiscal. There […]

New Delhi: A day after Union Budget proposed to tweak the rule to prevent NRIs from evading tax in India, the Finance Ministry has clarified that bona fide workers in other countries including in the Middle East who are not liable to tax in these countries will not be affected by the new provision. A […]

Bhubaneswar: Finance Minister Nirmala Sitharaman has unveiled in budget 2020-21 a plan to develop five archaeological sites of eminence as iconic sites with on-site museums. The big message it holds for Odisha is the State has to put more resources in excavation of its historical sites of archaeological eminence. In this regard, the State has […]

New Delhi: Finance Minister Nirmala Sitharaman on Sunday said the decision not to remove Long Term Capital Gains (LTCG) tax in the Budget was because utility of this tax so far has not been tested due to poor market conditions and therefore government has not been able to assess the returns from it. She was […]

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 […]

New Delhi: Amid a chorus of criticism by opposition parties over lack of employment generation, the Union Budget presented on Saturday estimated that more than 2.62 lakh jobs are likely to be created between March 2019 and March 2021 in various organisations. The strength of government establishments was 32,62,908 as on March 1, 2019, which […]

Bhubaneswar: While presenting the State budget 2020-21 in Odisha Assembly on Tuesday, Finance Minister Niranjan Pujari also introduced the Climate Budget which aims to keep track of the government expenditure made for climate change or to support mitigation and adaption actions to address climate change. The Finance minister said, “We propose to introduce a document […]