By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
There is nothing to be worried about as bilateral ties are robust with solid foundations. Both are on the same page on the economic and defence/security ties bilaterally and globally and that shall continue irrespective of change in political dispensation in either country, points out Dr Rajaram Panda.
Aviation watchdog DGCA has deregistered all the 54 planes leased by Go First, days after a court allowed lessors to take back their aircraft from the bankrupt airline. Bogged down by financial turbulence and engine woes, budget carrier Go First stopped flying in May last year and is undergoing an insolvency resolution process. Foreign lessors that have leased planes to the airline had moved the court to take back the aircraft.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
First things first: For those wondering if they need to reapply, the answer is no.
The Rs 12,450 crore capital infusion will enable the three public sector general insurance companies to improve their financial and solvency position, meet the insurance needs of the economy, absorb changes and enhance the capacity to raise resources and improve risk management.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
Continuing on the fiscally prudent path, the Modi government in the interim Budget refrained from announcing populist measures, which will help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
The IT and ITeS sectors expect a reduction in minimum alternate tax (MAT) and dividend distribution tax in the next month's Union Budget, a senior economist said on Tuesday.
'When you watch Freedom At Midnight, I want you to feel like you are sitting on a ticking time bomb.'
rediffGURU T S Khurana answers readers' personal income tax queries.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Follow these simple steps if you want to create a solid retirement corpus and retire young, says Anamika Pareek.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Finance Minister Nirmala Sitharaman on Monday used her trademark 'bahi-khata', a ledger wrapped in a red-coloured cloth, to carry Budget documents as she arrived in Parliament House to present her third straight Budget. Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers. She used the same last year and again on Monday.
If you are rich and if you have money, you can buy the Indian examination system, Rahul claimed.
Piyush Goyal presents the National Democratic Alliance government's Budget amid high hopes and expectations from across the spectrum of society -- from farmers to industralist. Will the Budget fulfill the expectations of all?
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
For now, Modi's government appears singularly focussed on demonstrating that it is not in any way inhibited by the BJP's loss of a majority, and will continue along its patented path of bulldozing all opposition and doing just as it likes, asserts Prem Panicker.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
Adnan Abidi/Reuters captures men at work in the streets of a wholesale market in old Delhi days before the Narendra Damodardas Modi government presents its final Budget, ahead of India's general election.
Just over a three-hour flight from Delhi, Kazakhstan, Uzbekistan, Azerbaijan and Georgia have seen a big jump in visitors.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Even as Chinese troops continue squatting on territory that we claim as our own -- this was the lowest allocation for defence in percentage terms since the 1950s, reveals Ajai Shukla.
India's tactical and operational response demonstrated its ability to prosecute tri-service operations, even without a formal tri-service doctrine or the higher command structure needed to coordinate it, points out Ajai Shukla.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
