The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Congress leader Kumari Selja ruled out the possibility of an alliance with the AAP for the Haryana assembly polls.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
A broken prosthetic leg just 15 minutes before the start of a domestic competition taught Rudransh another lesson in life -- to be ready with a tool-kit to promptly repair the contraption.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
Want to invest in National Savings Certificate? Read this first.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
India's financial sector is dominated by large government-owned and private-sector banks.
With this move, the option to get Delhi government's power subsidy will no longer be available by default and every year, power consumers will be given an option to continue with power subsidy or not.
If the idea of LWP scheme is to only weed out around 600 employees and subsequently save the carrier Rs 10 crore a month, the management could have easily laid off the retired employees, who had an advantage over others by dint of having 'connections' internally and in the corridors of the ministry of civil aviation, say Air India staff.
MARD has lost deposits on all seats it has contested so far since it was formed in 2018 but its leaders say they are undeterred by elections losses.
Transit accommodation in the Western Court Annexe or state bhavans will be provided to the newly-elected members who don't already have a government house in Delhi till they are provided regular accommodation by the Lok Sabha's House Committee, it said.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
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.
Prime Minister Narendra Modi hailed the contribution of doctors in saving lives from coronavirus and asserted that his government gave paramount importance to augmenting healthcare infrastructure to combat the pandemic.
The scheme, which would give Rs 6,000 to small farmers in a year or Rs 500 a month, will add more money to the account of these cultivators than the money he/she saves every month on an average.
Gandhi said the debate would end after these two questions only, but he also wants to ask the prime minister why did he ask the public to bang plates and flash mobile phones when people were suffering from the Covid pandemic.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
SIP top-ups are especially beneficial for young investors, who may start with a small SIP installment and grow it over their working careers, says Dwaipayan Bose.
"During the Congress regime, the news headlines were of India handing over another dossier to Pakistan about terror activities. Some of our friends in media used to clap after such any such dossier was sent," Modi said at an election rally in Maharashtra's Latur.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
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.
"I am fighting a big battle to save my country from the corrupt. That is why they are behind bars today and not getting bail even from the Supreme Court," Modi said.
Few in Varanasi expect the result to be different from 2014 and 2019. The only point of interest is whether Narendra Modi will increase his winning margin against his rivals.
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
West Bengal Chief Minister Mamata Banerjee on Saturday accused NIA officials of attacking villagers in Purba Medinipur district, the BJP hit back at her saying that the attack on the NIA officials is Sandeshkhalli 2.0 orchestrated by the state.
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