rediffGURU Samkit Maniar answers readers' personal income tax queries.
The exodus of FPIs from the Indian equity markets continued unabated, as they withdrew over Rs 7,300 crore (about $840 million) in the first week of this month due to global trade tensions, with the US imposing tariffs on countries such as Canada, Mexico, and China. This came following an outflow of Rs 78,027 crore in the entire January. Before that, they invested Rs 15,446 crore in December, data with the depositories showed.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
India's food processing minister Subodh Kant Sahay on Thursday met Finance Minister Pranab Mukherjee in New Delhi ahead of the general\nbudget on July 6.
'When the girls said they want to play football, the mothers were encouraging.' 'It was the fathers who were against the idea.'
Currently, Railways is facing a loss of Rs 34,000 cr in passenger segment and its earnings are falling.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
'Maharashtra is virtually in a debt trap.'
The government is likely to provide a subsidy of Rs 35,000 crore to state-owned Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) to make up for losses they incurred on selling the fuel this fiscal, sources said.
India has reported 59 cases of Human Metapneumovirus (HMPV) and two deaths due to co-morbidities between January 6 and 29, according to Union Minister Prataprao Jadhav. The virus primarily affects young children, the elderly, and immunocompromised individuals, leading to respiratory illnesses. The government has taken measures to monitor and control the spread of HMPV cases and create public awareness.
Jammu and Kashmir Chief Minister Omar Abdullah has said that India and Pakistan came closer to resolving the Kashmir issue during the Manmohan Singh-led UPA government. He added that he does not expect a return to that situation in his lifetime. Abdullah lauded Singh's efforts on Kashmir, including the setting up of working groups on the issue, and said he practically initiated measures for the return of displaced Kashmiri Pandits. The chief minister also praised Singh's contribution to India's economic development.
'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
The ICC Board will now begin the process to identify Allardice's successor.
The government has earmarked Rs 270.05 crore for the tour expenses of Union ministers in the General Budget 2013-14 which is slightly more than the last fiscal's allocation of Rs 269.94 crore.
Amidst alleged power struggles within the ruling Congress in Karnataka, AICC general secretary Randeep Singh Surjewala has called for discipline within the party, emphasizing that the party is paramount. This comes as the state's chief minister and deputy chief minister submitted a consolidated report on the performance of 31 ministers to Surjewala, fueling speculation about a potential cabinet reshuffle.
One reason the fee can't be lower than 3 per cent is that it is difficult for an RIA to do a good job and remain viable even at 3 per cent.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
Many travellers are now opting for domestic destinations like Goa, Kerala, Rajasthan, Lakshadweep, Himachal Pradesh, and the North East.
The monthly Rs 2500 payment for poor women is expected to cost Rs 11,000 crore while the pension scheme of Rs 2000 for every senior citizen will cost around Rs 4100 crore. The Yamuna clean up will cost over Rs 10,000 crore while a similar amount is required to upgrade Delhi's hospitals. Ultimately, the new BJP government will have no choice but to ask the centre for financial support, notes Rashme Sehgal.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
Prime Minister Manmohan Singh on Sunday approved the interim general budget which will be presented in the Lok Sabha by External Affairs Minister Pranab Mukherjee on Monday. Singh went through the interim budget related papers and after formally signing them, forwarded them to President Pratibha Patil, a Prime Minister's Office spokesman said."The Prime Minister also approved the interim budget speech," the spokesman added.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
Your ultimate guide to helicopter rides in India this Valentine's Day
Finance Minister Nirmala Sitharaman on Wednesday again took a digital tablet wrapped in a traditional 'bahi-khata' style pouch as she headed for Parliament to present Union Budget 2023-24 in a paperless format just like the previous two years. She posed for the traditional 'briefcase' picture outside her office along with her team of officials before heading to meet the President. She, however, was holding a tablet instead of a briefcase to present the Budget in a digital format.
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
rediffGURU T S Khurana answers readers' personal income tax queries.
This is the first Budget in Amrit Kaal, she said.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
Congress Parliamentary Party chairperson Sonia Gandhi's reaction to President Droupadi Murmu's address to the Joint session of the Parliament on Friday stoked a controversy.
Minister of Petroleum & Natural Gas Murli Deora has welcomed the General Budget for 2010-11 presented by the finance minister on Friday in the Lok Sabha.
Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.
The hospitality and travel industry players expressed disappointment after the General Budget 2009-10 announcements, with the sector not even finding a mention in the finance minister's speech.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Rupee depreciation, if it continues, will likely pull the markets down further. Since September 2024, the rupee has declined by 3.1 per cent, the Nifty has dropped by 8.5 per cent during the same period, and the Sensex has fallen by 7.3 per cent. If the decline continues, markets will need to brace for more pain as it could push foreign portfolio investors (FPIs) to exit their positions faster than anticipated.
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
