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Tag: Union Budget 2019

NRI-Gift
Budget extends tax on NRIs for receiving gifts from resident Indians

New Delhi: The expensive gift that you kept for your overseas cousin or friend may attract tax from this year with the Budget 2019-20 proposing to impose withholding tax all such transfers, plugging an earlier loophole that allowed its tax- free treatment. The Finance Bill 2019 has imposed tax on any sum of money paid […]

Sashi-Tharoor
Tharoor uses cricket analogy to criticise Union Budget

New Delhi: The Union Budget has “unnecessarily defensive strokes, drop catches and quite a few no balls”, Congress leader Shashi Tharoor said in Lok Sabha on Monday, slamming the government for allegedly not addressing key issues facing the economy, including farm distress, and raising fuel prices. Tharoor, who was initiating discussion on the Union Budget […]

Home-loan
Union Budget 2019 - How Much Deduction Can Homebuyers Get

With an objective of ‘Housing for All,’ this years’ budget has come as a blessing for middle class homebuyers, who will get enhanced interest deduction up to Rs 3.5 lakh. Union Finance Minister Nirmala Sitharaman presenting the Budget in the Parliament proposed to allow for an additional deduction of up to Rs 1.5 lakh for […]

DAE
Atomic energy dept sees marginal dip in budget allocation; customs duty cut on nuclear fuel

New Delhi: The Department of Atomic Energy has seen a dip of Rs 40 crore in its monetary allocation in the annual Budget presented on Friday. Finance Minister Nirmala Sitharaman on Friday also announced waving the custom duty for nuclear power and parts required for building eight indigenous atomic power plants. In 2018-19, the DAE […]

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Budget 2019: Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after tax hike

NEW DELHI: Petrol price will be hiked by over Rs 2.5 per litre and diesel by more than Rs 2.3 after finance minister Nirmala Sitharaman on Friday raised taxes on the fuels to part-fund her Budget for 2019-20 Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per […]

Budget will empower poor and give youth a better tomorrow: PM

New Delhi: Describing the Union Budget as citizen friendly, development friendly and future oriented, Prime Minister Narendra Modi on Friday said it will empower the poor and provide the youth with a better future. Terming the Budget as one that extends “hope” and boosts “self confidence”, he said the policies of the government will empower […]

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 […]

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 […]

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 […]

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Union Budget 2019-20: PAN, Aadhaar interchangeable for filing of IT returns

Bhubaneswar/ New Delhi: Nirmala Sitharaman,  India’s first full-time woman Finance Minister, presented the first budget of the second term of the Narendra Modi government in the Lok Sabha today. At a high-level meeting, the Union Cabinet approved the Budget 2019 which is being presented by Sithararam. Deductions in loans for affordable housing. Rs 1.5 lakh […]

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Interim budget 2019: Odisha gets record Rs 7,010 crore for railways

Bhubaneswar: The Modi-led NDA Government today announced a record budget grant of Rs 7010 crores for East Coast Railway and Odisha, reflecting an increase of 13 percent over last year. The total allocation contains all budgetary heads including projects, electrification, passenger amenities, workshops, track, staff amenities etc, informed sources. Under the budget, Rs 2,630 crore […]

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Modi government only knows 'pakodanomics': Chidambaram

New Delhi: Pointing out that the Interim Budget announced on Friday is “silent” on jobs and education, former Finance Minister P. Chidambaram ridiculed the Modi government saying all it understands is “pakodanomics”. “Two words that are missing from the Budget speech are education and jobs. In the 10 point vision document presented by Finance Minister […]

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Poll-year Budget 2019-20: Full tax rebate for income up to Rs 5 lakh

Big relief for taxpayers as Finance Minister Piyush Goyal announced that individual taxpayers having annual income up to 5 lakhs will get full tax rebate now. As many as three crore taxpayers will be benefited with the decision. The interim Budget 2019-20 was the last budget of the Modi government ahead of the general polls. Finance Minister […]

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