The biggest impact of the new tax system is the significant widening of income slabs. According to this, people with annual income not exceeding 1.6 lakh (Rs 160,000) will not have to pay any tax.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
The election is likely to witness a three-cornered contest involving the ruling Aam Aadmi Party, the Bharatiya Janata Party and the Congress.
The government has to realise that at some stage it will have to deliver on big ticket items.
At the end of the day what counts is that Nabard has been rewarded with the management of another Rs 500 crore
Cement is set to be dearer across the country by Rs 8-9 per 50 kg bag from March 1, with the rise in excise duty, industry sources said.
Anil Rego, CEO, Right Horizons lists out the important things, of course, apart from the IT exemption limit, that the salaried class must be looking forward to in the Union Budget 2015-16 that Finance Minister Arun Jaitley will present tomorrow morning
Finance minister read out parts of his speech to the media persons and television channels as nothing could be heard while he was replying to the debate on the Union Budget.
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
While some have praised the Budget, others have expressed their displeasure.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
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 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.
The finance minister has the difficult job of responding to this spirit of hope and yet getting the country back on a more sustainable fiscal path.
A look at education consultants, educational loans and other ways to manage the steep costs of internatinal studies.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
In her Budget 2023-24 presentation, she also said the Centre will launch the 'Dekho Apna Desh' initiative to promote domestic tourism.
PM taken out of ICU, likely to attend the last day of the Parliament session.
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.
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
He also said the city had a long way to go before it could reach the status of a global city, and said that greater autonomy and better governance of the city would ensure the global city status, says the finance minister.
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.
The government will cut the central sales tax rate to 3 per cent from 4 per cent from April 1 through a notification, as announced by Finance Minister P Chidambaram in his Budget speech.
The demand for ban on futures trading in more commodities is increasing day by day.
Minimum Alternate Tax (MAT) has been extended to income in respect of which deduction is claimed by companies under Section 10A & 10B of the Income Tax Act.
Passengers can now dial 139 for rail information from any part of the country.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
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.
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
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?
Both the BJP leaders in their notices to Lok Sabha Speaker Om Birla have alleged that Gandhi's comments were baseless and that he made "contemptuous, unparliamentary and dishonourable" allegations.
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs 23,000 crore (Rs 230 billion), less than half that estimated by Finance Minister P Chidambaram in his Budget speech. The share of this due to commercial banks is probably around Rs 6,000 crore (Rs 60 billion) the total overdue from all farmers to commercial banks is around Rs 10,000 crore (Rs 100 billion).
The Union Budget 2008-09 will leave more money in every pocket.
The National Bank for Agriculture and Rural Development, the apex financial institution for rural finance, will raise Rs 5,000 crore (Rs 50 billion) through capital gains bonds in financial year 2007-08.
Leaders of several opposition parties on Thursday hailed the Supreme Court verdict striking down the electoral bonds scheme and termed it an important step in ensuring transparency in electoral funding.
