'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
While Prime Minister Narendra Modi's election triumph two months ago and his promises of economic revival buoyed business confidence and India's financial markets, Bhatnagar and millions like him remain pessimistic and anxious about the future.
A rise in petrol and diesel consumption can help the government cut cesses on the fuels by Rs 4.5 a litre without impacting revenue collections of FY21, and help cool off the pressure on inflation, domestic rating agency ICRA said on Friday. Petrol consumption is estimated to increase 14 per cent in 2021-22 and diesel by 10 per cent on the lower base, rise in mobility and economic recovery, ICRA said. The rating agency added that it will result in an additional Rs 40,000 crore in revenue for the government through higher collections of the cess.
Moreover, about 21 million people in the US rely on alternative financial services, despite having bank accounts.
The United States is stronger and more prosperous than it was eight years ago, US President Barack Obama has said, attributing it to a series of steps taken by him during his two four-year terms.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
India's 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the Covid-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each.
In Round 1, 62 per cent strongly supported the continuation of the lockdown and 24 per cent expressed some support.
The data gaps are inhibiting sound decisions. We need to know seroprevalence, infection, and vaccination rates. This is required in 200 cities of India, every week, suggests Ajay Shah.
The World Bank on Tuesday projected India's economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the COVID-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second COVID-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
The official also said that these verifications are being sought to be done online and any person of up to 70 years of age, who has deposited more than Rs 2.5 lakh in cash, has to go to I-T department website and explain the source of deposit.
The report also points out that a larger section of the poor and vulnerable households achieve middle-class status in urban areas in India despite the presence of a large urban informal sector.
Business Standard presents expert views on what changes can help improve the prospects of various asset classes.
When it comes to diversity, swimming has a way to go.
Because he knows Odisha; and Odisha knows him, observes Aditi Phadnis.
Even as Pranab Mukherjee rises to present the Union Budget in Parliament at 11 am on Monday, a nationwide survey reveals that most Indian households think this annual exercise has no significant effect on their daily lives.
Nachiket Mor is a man of ideas. He is so passionate about his projects that sometimes he overpromises and fails to live up to expectations.
The central government should provide for free vaccination to all Indian citizens and greatly ramp up RT-PCR testing in both rural and urban areas, a group of former civil servants said on Thursday in an open letter to Prime Minister Narendra Modi.
As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,00,495.94 crore as on July 3.
A new study shows that the bottom half of the population enjoyed only 15 per cent of national income in 2013-14, down sharply from 24 per cent in the early 1980s.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
Leading up to the International Women's Day on March 8, this is the first of a four-part series that talks about how women can invest to achieve their long-term financial goals.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
After the Chennai floods, insurance companies had got 50,000 claims worth Rs 4,800 crore.
Uli Hoeness said on Friday he would accept a 3-1/2-year prison term for evading 27 million euros in taxes and resigned as president and chairman of Bayern Munich, the club he made into one of the world's most successful football dynasties.
Global crude oil prices have slumped by 49 per cent during the same period
The age of buying into ideologies just because they sound nice is long gone says Piyush Kedia.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
There is discrimination against women in insurance cover. As a flood of insurance companies tap the capital markets with public issues, there is however, hardly any reference to this asymmetry. Subhomoy Bhattacharjee reports
Banks in talks with temple trusts to push gold scheme
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Some term it as "good for capital market", while others saying it is not "market friendly".
Analysts expect firms to shift focus to online platforms to boost sales in these Covid-19-impacted times.
Deaton was at a loss when asked what the future held.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Ground surveys have found that several members of the dominant castes are in economic conditions quite similar to that of peer communities with the advantage of quotas.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
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