The Finance Ministry will soon unveil the simpler income tax return form 'Sugam', which is aimed at reducing compliance burden on small businessmen and professionals.
Lalu Prasad, who became the railway minister in May 2004, surprised the world in 2008 with the 'magic' turnaround he effected for the near-bankrupt railways, claiming to have created a surplus of Rs 25,000 crore (Rs 250 billion.
Yadav said the nationwide strike has affected over 35 lakh (3.5 million) people.
The Union Budget on Monday evoked contrasting responses in the political arena with the ruling Bharatiya Janata Party hailing it as a vision for an 'Aatmanirbhar Bharat' and the Opposition describing it as a 'let down like never before' that was meant to 'deceive' people.
Sushil Munhot, executive director & head-personal banking, IDBI Bank, says, "Any housing loan of up to Rs 25 lakh will come under priority sector lending, as it is to provide affordable housing. But we do no know when will it come into effect."
Markets may have initially cheered the FM's static borrowing numbers, but the picture may not be as rosy.
Traders caution that branded jewellery customers may start opting for substitutes as high prices of previous metals and stones have already made buying any luxury items unaffordable for most of the middle class.
Yesterday's Budget, last week's Economic Survey and the coming Approach Paper to the Twelfth Plan will provide the compass to help India navigate the uncertainties of the post-crisis world.
Government has set up a Financial Sector Legislative Reforms Commission to streamline the financial sector laws.
There are allegations that MFIs are charging exorbitant interest rates and using strong-arm tactics to recover the loans.
Expressing "serious concern" over the generation and circulation of black money, Finance Minister Pranab Mukherjee today said the government has adopted a five-fold strategy to deal with the menace.
Going by the current pace, UIDAI seems unlikely to meet the target of issuing a million Aadhaar numbers a day to cover half the country by 2013.
Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Complimenting the police for unearthing the corporate espionage racket, Delhi Chief Minister Arvind Kejriwal said it should now target the "top people" benefiting from the leak.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
India's per capita expenditure on defence is less than $10, while the average expenditure of the top ten spenders in Asia is $800 approximately.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
DTC task force also favoured doing away with Dividend Distribution Tax by suggesting taxing dividends in the hands of shareholders.
Finance Minister Pranab Mukherjee on Monday proposed to introduce a new simplified income tax return form 'Sugam' to reduce compliance burden of small taxpayers.
Government originally planned to roll out GST from April 1 last year, but a consensus could not be reached on the introduction of the Bill.
Railway Minister joked, broke into poetry and even lost her cool during her 90-minute budget speech.
In Jammu & Kashmir, the minister proposed to set up a bridge factory.
While a host of pro-public announcements made by her in the last Railway Budget (2010-11) have been implemented, Indian Railways' finances have gone from bad to worse.
For the last eight months, the toy train service between New Jalpaiguri and Darjeeling is partially suspended, following a landslide and the authorities are unsure of when the narrow gauge route would be revived.
Combating inflation, protecting the common man from the impact of rising food prices and sustaining the momentum of economic growth while ensuring the poor get a fair share of the "fruits of growth" are among the government's "foremost priorities" in 2011-12, President Pratibha Patil said in her address to Parliament this week.
Economic growth should be accompanied by social and political stability.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
The railway minister's indifference to her portfolio, the hesitation to install anti-collision devices that cost Rs 250,000 per km and the debate over the efficiency of home-grown technology are leading to more accidents.
Indian Railways said it would rope in home-grown talent to develop world-class stations as foreign consultants were charging exorbitant fees.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
The NSE Nifty closed at 4922, up 63 points. The market breadth was strong. out of 2874 stocks traded on the BSE, there were 1848 advancing stocks as against 942 declines.
In the following analysis, RelaxwithTax has tried to squeeze out the useful information -- from the Budget Speech delivered by Finance Minister Pranab Mukherjee -- that is relevant to you in terms of personal taxation and finance.
The latest roadmap for exempts banking, insurance and non-banking finance companies
This activity will allow us to identify those jurisdictions where either the legal framework is not good enough or practices are not good enough and, therefore, information is not flowing.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
Claiming that black money to the tune of Rs 500 lakh crore (Rs 500 trillion) was stashed by Indians in foreign banks, yoga guru Baba Ramdev has advocated for bringing that money back home.
The finance minister's Budget Speech has come as a surprising blessing as he has maintained the rates as they were last year.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
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