Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
Insisting that PM Modi has consistently cared for the farmers, Goyal said the Rs 75,000 earmarked for paying Rs 6,000 per annum to each of 12 crore farmers is not one time but a 'sustainable' provision.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
'The honourable prime minister virtually handpicked me for the Amritsar East seat.' 'Amit Shahji announced that if I am elected, the whole of Punjab will be drugs free.'
The Hindutva social media continues to present the DMK especially as anti-god, anti-Hindu and anti-Brahmin. The strategy did not work in the past, it has not worked in the present, and would not work in the future, as a massive vote-getter, asserts N Sathiya Moorthy.
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor available on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Finance Minister Arun Jaitley outlined the roadmap of the BJP-led Government for the coming months, saying the Goods and Services Tax (GST) will be a "top priority".
If re-elected, his government will set up a National Traders' Welfare Board, bring trader credit cards and a pension scheme for small shopkeepers besides making a provision to provide loans of up to Rs 50 lakh without collateral.
Pensioners, India Inc may get tax breaks in Budget
The dates of general elections in 2019 and the presentation of the final Budget of the Modi government are so far removed from each other that Jaitley is not under any pressure to present a populist Budget. Instead, he could well unveil an array of schemes and proposals that he believes are necessary for the economy, even if a few of them could be unpopular, says A K Bhattacharya.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Urban markets account for the major share of total revenues.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
And, in turn, help 1,000 artisans earn Rs 5,000 at a time when they are struggling to cope with financial hardships during the COVID-19 pandemic.
The Congress chief said if his party is elected to power, its government would spend 6 per cent of the GDP on education.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
Engine snag forces IndiGo to ground 7 new aircraft
M R Venkatesh, chartered accountant turned political commentator tells Shobha Warrier/Rediff.com that Modi's war is not against the opposition parties or the Congress but against the bureaucracy and the establishment.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
Shops selling essentials including vegetables functioned from morning till 2 pm and private vehicles and autos, taxis were off the roads.
Imports rose by 1.44 per cent to $43.44 billion in March 2019.
Indian economy was growing faster than the global average and all other major economies: FM
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
Singh said the Doklam "deadlock" was resolved similarly and without any confrontation.
'Sachin Pilot once calculated that with a million Indians flooding the labour market every month, only an additional 12 million jobs annually could keep unemployment at the same level.' 'That's chickenfeed for the functionaries who cram my e-mail inbox every day with such a constant flow of job offers that trying to empty it is like trying to drink dry the horn connected to the ocean in Norse mythology,' says Sunanda K Datta-Ray.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Custom duties, a major concern for the oil sector.
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