Farmers with land sizes less than 0.01 hectare have an average annual income of Rs 54732 and annual consumption of Rs 61296, thereby, a debt of Rs 6564 each year. Compare this with the minimum pay for a government employee, says Devanik Saha.
The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
Indian economy about to take-off
Rules being drafted, to also cover unorganised sector; maternity benefit, old age pension, sickness allowance to be included
Money will be earmarked for the social sector - especially rural districts that house three-fifths of voters
He also lashed out at the Congress for its opposition to the GST and for dubbing it as 'Gabbar Singh Tax'.
With no announcement on One Rank One Pension coming from Prime Minister Narendra Modi during his nearly 90-minute speech at the Red Fort on the 69th Independence Day, ex-servicemen who have been protesting at the Jantar Mantar in New Delhi say they have been betrayed by the BJP-led government.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
The abolition of wealth tax is again a welcome step.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Pensioners, India Inc may get tax breaks in Budget
Conversion into jewellery during redemption would entail 15-20% wastage and making charges, rendering the scheme inefficient
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
'Jaitley was one of the earliest politicians to sense the changing political scenario in Delhi. He had closely watched the rise of the BJP and declining fortunes of the Congress party during the L K Advani era. But it was between 2009 and 2014 as the Leader of the Opposition that he began to read the tea leaves. 'And thus it was that he introduced Modi-Amit Shah duo to Lutyens Delhi,' says senior journalist R Rajagopalan who had known Jaitley since 1975.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
The defence minister clearly asserted that there will be no budgetary constraints to enhance the capability of the Army and meeting its other requirements.
Javadekar asserted that the first 50 days have shown that Modi government's second term will be more effective and will build on the success of its previous tenure.
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
All Jan Dhan bank accounts should be linked to Aadhaar, Prime Minister Narendra Modi said on Saturday while asking bankers to speed up this process and redouble efforts on financial literacy.
He also emphasised on the need for saving water and planting trees to preserve the environment.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Broader markers outperformed their larger peers.
After spending his previous four Diwalis with the Armed Forces, Prime Minister Narendra Modi is breaking with tradition and spend Diwali this year in Kedarnath, setting off speculation that the decision was taken with an eye on the 2019 Lok Sabha elections. As the Festival of Lights is on us, here's looking back at Modi's Diwali celebrations.
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
Rajiv Chandrashekhar, Rajya Sabha MP, explains that the argument that other government servants are eligible for OROP is incorrect and the comparison is laughable.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
A tweet by the Press Information Bureau said the states which have imposed lockdown in all districts include Chandigarh, Delhi, Goa, Jammu and Kashmir and Nagaland. The other states are: Rajasthan, Uttarakhand, West Bengal, Ladakh, Tripura, Telangana, Chhattisgarh, Punjab, Himachal Pradesh, Maharashtra, Andhra Pradesh, Meghalaya, Jharkhand, Bihar, Arunachal Pradesh, Manipur, Tamil Nadu, Kerala, Haryana, Daman Diu and Dadra and Nagar Haveli, Karnataka and Assam.
'Modi has entered blunderland as he does not understand the army. He has actually meddled with the army, which is much more damaging than the ignorance of Sonia Gandhi and Manmohan Singh.' 'People had an impression that the BJP was different. Now it has been made very, very, plain that it is not.' 'Look at the contrast in the behaviour of the prime minister. When they burnt buses in Gujarat for an unjust demand, the prime minister addressed them in Gujarati while the army veterans were on relay hunger strike for the 74th day on that day, but no word on this from the PM.'
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Naxalites on Monday carried out multiple improvised explosive device blasts in Jharkhand's Giridih district, injuring 12 security personnel.
'The Vajpayee personae is so mirrored in Modi's initiatives that one wonders if the similarities are merely a coincidence or a divine design,' says RSS ideologue Tarun Vijay.
On the revenue front, the finance ministry was expecting higher proceeds from non-tax revenue.
The Modi government's array of economic policy has been impressive.
Thousands of ex-servicemen across the country on Sunday converged at Delhi's Jantar Mantar to protest over the delay in implementation of the 'One Rank, One Pension' scheme.
IDS-2 and raids to uncover black money stash keep receipts flowing
The chief minister said the Congress-Samajwadi Party alliance will win an overwhelming majority in the assembly polls and get more than 300 seats in the 403-member House.
'Well done, Mr Jaitley, now go and implement your schemes. No leakages, no lapses and no laziness.'
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