FM may increase income-tax exemption limit to Rs 3 lakh
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
'There is good indication that the economy is bouncing back, but the problem is, we should look at the eight quarters preceding March 2020.' 'The growth had fallen below 3.1% before March 2020.' 'So, the governments must realise that even if you transform the best of green shoots into banyan trees, you see only 3.1% growth.'
A person in the 30% income tax bracket with a Rs 40 lakh home loan at 9% interest rate would, under the Rs 3.5 lakh interest exemption, will save Rs 105,000 in tax in the first year, against Rs 60,000 under the previous interest exemption of Rs 2 lakh.
Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre each to raise over Rs 28,000 crore.
India's cargo trains run at 19-30 km an hour, they run at 120 km in China - and the difference is only growing.
The Sensex opend almost unchanged at 9,637 - up two points. The index, thereafter, soon slipped into red and was down around 75-odd points before the acting finance minister Pranab Mukherjee started his Interim Budget Speech.
He said most of the states where farmers were committing suicide were being run by Congress or its United Progressive Alliance constituents. "We (NDA government) had left the country in a healthy economic state. Now things are bad," he alleged.
As far as personal taxation goes, there were positive changes overall, even if the magnitude might not have been as high as expected. Here are 7 changes that you will be affected by:
The removal of 10 per cent surcharge on direct taxes to cost Rs 10,034 crore.
India's fiscal deficit grew from 2.7 per cent to 6.8 per cent of GDP, Finance Minister Pranab Mukherjee said.
Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
With the Congress already opposed to the proposed law, regional parties might become the swing factor, says T N Ninan.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
Not all change is good, but this one is, applauds Shekhar Gupta.
The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
'What is unusual about the current period of slow growth is that it has come without an external driver -- high oil prices and/or successive monsoon failures -- as was the case with all previous periods of slowdown, going back 50 years, notes T N Ninan.
Move to shift powers from RBI without discussions baffles many
Individual tax payers will save only Rs 1,000 more a year following the government raising the tax exemption threshold by Rs 10,000 to Rs 1,60,000, whereas the benefit for senior citizens (65 years and above) will be higher at Rs 1,500.
Delhi Police Crime Branch raided the office of a petrochemical co.
'Is this the only way for India to become a $5 trillion economy?' 'When you have unused foreign exchange here, why borrow more dollars?'
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Addressing his first rally in the national capital in the run-up to the February 8 Delhi Assembly polls, he said the current environment in the country, the hatred, the violence and the attacks on women were harming India and people were not benefitting from it.
At the end of the day what counts is that Nabard has been rewarded with the management of another Rs 500 crore
Hyundai Motor India and General Motors have announced cuts in prices of their small cars, following the finance minister's announcement of excise duty reduction on small cars
A look at education consultants, educational loans and other ways to manage the steep costs of internatinal studies.
Sena said Jaitley had had merely repackaged old schemes as new in his budget presentation.
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
The import tariff value is the base price at which the customs duty is determined.
Jaitley said the government has been able to improve its budgeted expenditure.
The major beneficiaries have been the ministries of roads and highways, railways and power
The upcoming Budget will have a record of funds spent on welfare of the minorities.
Ambassador Venu Rajamony, who served as press secretary to President Pranab Mukherjee during his tenure, salutes the statesman and political legend, who passed into the ages on Monday.
This largesse will now be available also to those engaged in agriculture's allied activities like livestock rearing, as also to those who had availed themselves of investment credit for purposes like deepening wells and purchasing tractors.
Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people: FM
The government has raised Rs 5,000 crore from the money market, outside its scheduled borrowing programme for the first half of the current fiscal, to takeover the Reserve Bank's 59.73 per cent stake in State Bank of India (SBI) by the month-end.
Is the increase in the rise of prices of essential goods of daily use affecting your monthly budget? What steps are you taking to soften the blow?
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