Tag: Union Budget 2020

New Delhi: The government is likely to opt for auctioning of more cash management bills (CMBs) to meet the debt obligations of government bonds in the next fiscal standing at Rs 3.02 lakh crore to avoid putting pressure on higher borrowings from the market. Higher market borrowings can impact the fiscal deficit. The redemption pressure that […]

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 […]

Bhubaneswar: Finance Minister Nirmala Sitharaman on Saturday presented full-year budget for the year ending March 2021. This was the second budget for Sitharaman in  the second term of the Narendra Modi government. Here are the KEY HIGHLIGHTS:  Budget Speech: Nirmala Sitharaman says customs duty raised on footwear and furniture Health cess on import of medical […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Bhubaneswar: Even as the Union Budget 2020 offered taxpayers the option to choose between the existing income tax regime and a new system, the dual income tax system seems to have created confusion for individuals. Experts opined that though Finance Minister Nirmala Sitharaman has brought new lower personal income tax regime and introduced two options […]

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 […]

Hyderabad: Finance Minister Nirmala Sitharaman on Sunday said the 2020-21 union budget was prepared keeping the FRBM (Fiscal Responsibility and Budget Management)in mind even as she maintained she would be remembered for presenting the “longest prepared budget” than for “longest speech” on it. “So in a way all these (measures) and more has been done […]