Union Finance Minister Nirmala Sitharaman on Tuesday said the fiscal deficit for 2024-25 is estimated at 4.9 per cent of GDP.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
rediffGURU Anil Rego answers readers' personal income tax queries.
Shiv Sena-Uddhav Balasaheb Thackeray leader Uddhav Thackeray on Sunday said he didn't harbour aspirations to become Maharashtra CM, a remark coming against the backdrop of Maha Vikas Aghadi allies' reluctance to face assembly polls with a CM face.
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
Despite these challenges, his strong voice for the state's tribal population has been central to his political identity
Addressing an election rally in Madhya Pradesh's Shahdol, Gandhi claimed the 'Agniveer Yojana' was conceptualised by the prime minister but the Army doesn't want this scheme.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
The Congress maintained that the state government had not ordered any such inquiry and it could be an internal matter of the CID. A top CID official has also said that no formal inquiry was ordered into the incident.
A total of 1,162 essential documents have been distributed among 872 persons at the camp, the district administration in Wayanad said.
In a stunning comeback, Hemant Soren's Jharkhand Mukti Morcha-led alliance on Saturday stormed to power in Jharkhand for a second consecutive term, winning 56 seats in the 81-member assembly, despite an all-out blitz by the Bharatiya Janata Party-led National Democratic Alliance which managed only 24 seats.
"The amount of both the family pensions will now be restricted to Rs 1,25,000 per month, which is over two and half times higher than the earlier limit," said Singh, the Minister of State for Personnel.
As the Bharatiya Janata Party looks set to retain Haryana, the Congress' poll campaign, which was built around various issues including unemployment, farmers' plight and Agnipath scheme, appeared to have failed to click with a majority of the voters.
'Are we to believe that coordinated moves by the Canadian and US authorities are no longer taking place?', asks Ambassador M K Bhadrakumar.
A group of 101 farmers resumed their foot march to Delhi on Sunday to press the Centre for various demands, including a legal guarantee for Minimum Support Price (MSP). However, they were stopped at the barricading by Haryana Police who cited a prohibitory order clamped by the Ambala administration. The farmers have been pressing for various demands, including a legal guarantee for MSP, a farm debt waiver, pension for farmers and farm labourers, no hike in electricity tariff, withdrawal of police cases (against farmers), and "justice" for the victims of the 2021 Lakhimpur Kheri violence. Reinstatement of the Land Acquisition Act, 2013 and compensation to the families of farmers who died during the previous agitation in 2020-21 are also part of their demands.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
"In view of the crisis arising out of Covid-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid. "The additional instalment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid," the department of expenditure said in an office memorandum.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
The idea of retirement planning with a pension plan assures regular income to the policyholder in the form of pension or annuity.
Opposition MPs in the parliamentary committee scrutinising the Waqf (Amendment) Bill are scheduled to meet Lok Sabha Speaker Om Birla on Tuesday to protest its chairperson Jagdambika Pal's alleged 'unilateral' decisions and attempts to 'bulldoze' proceedings, indicating that they may disassociate themselves from the panel.
In the morning, school students in uniform were seen going to their institutions, many accompanied by guardians, the Daily Star reported.
What some of our leaders were up to this week.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
The Bill envisages an authority to promote old-age income security by establishing, developing and regulating pension funds, to protect the interest of subscribers of pension funds.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Shah, while releasing the saffron party's manifesto 'Sankalp Patra' for the upcoming assembly elections in Jharkhand, announced that a Displacement Commission would be formed to ensure rehabilitation of people displaced by industries and mines in the state.
For every rupee in the government coffer, the biggest pie of 63 paise will come from direct and indirect taxes, according to the Union Budget 2024-25 documents.
Jannayak Janta Party, which had emerged as the kingmaker last assembly polls, was decimated this time round, while the Indian National Lok Dal also failed to create much impact, with prominent leaders of both outfits Dushyant Chautala and Abhay Singh Chautala losing their seats.
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
The Ministry of Personnel, Public Grievances and Pensions has received representations from various quarters to do away with the condition of applying for family pension through 'Form 14' as it was causing inconvenience to widows, who find it difficult and 'embarrassing' to present themselves before two gazetted officers or persons of repute for attestation.
Once rolled out, theaterisation will be the biggest military reform in the country. It will see the creation of unified theatre commands within the 1.7 million-strong Indian armed forces.
