'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
'The next decade will be even more transformative,' says Prime Minister Modi. 'We are moving from digital governance to global digital leadership.'
For the purpose of our discussion, we have chosen schemes which offer tax benefits at the time of making investment under Section 80C, i.e. Public Provident Fund & National Savings Certificate.
The government on Thursday kept interest rates unchanged on small savings schemes, including NSC and PPF, for the second quarter of 2022-23 amid high inflation and rising interest rate. The interest rate on small savings schemes has not been revised since the first quarter of 2020-21. Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to have an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter of this fiscal.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
Finance Minister Nirmala Sitharaman on Thursday said Pradhanmantri Suryodaya Yojana will enable one crore families to get up to 300 units of free electricity monthly and help them save up to Rs 18,000 annually. "There is provision of Rs 10,000 crore for rooftop solar (scheme) in the Budget," said finance secretary T V Somanathan in press conference on Budget later in the day. Earlier in the day Sitharaman in her interim Budget speech said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity each month.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements.
Rationalisation in the rates offered by small savings schemes is a must.
>The Indian Army still uses old British-era names and recruits soldiers based on caste or region, which hurts national unity, argues Colonel K Thammayya Udupa (retd).
Finance Minister Nirmala Sitharaman on Thursday said the government will roll back a steep interest rate cut on small saving schemes such as PPF and NSC -- saying it was an oversight, a move being seen as an attempt by the ruling Bharatiya Janata Party to contain the fallout of a decision hitting the common man in the ongoing elections in West Bengal, Assam and three other states.
To select the right fund, investors need to first evaluate their risk profile and also assess the funds on parameters like the investment style, performance and risk, among others.
In a relief to savers, the government on Wednesday kept interest rates on small savings schemes, including NSC and PPF, unchanged for the second quarter of 2021-22 amid the COVID-19 pandemic. Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter as well. "The rates of interest on various small savings schemes for the second quarter of the financial year 2021-22 starting from July 1, 2021, and ending on September 30, 2021, shall remain unchanged from the current rates applicable for the first quarter (April 1, 2021 to June 30, 2021) for FY 2021-22," the finance ministry said in a notification.
Correcting markets makes this a great time to buy an ELSS. Here are 7 schemes across the risk spectrum.
The interplay between domestic and foreign capital will shape India's equity markets.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
Here is a profile of some of the popular small savings schemes.
Asim Munir and his brand of short-sighted army officers give no inkling of paying heed, changing course or learning lessons from the past, observes Rana Banerji, who headed the Pakistan desk at RA&W.
ICC is mulling a dedicated fund of at least US$ 15 million for Test cricket that will help increase the players' match fee and address the migration of talent to T20 leagues.
The popular Five-Year National Savings Certificates will earn an interest rate of 8.1 per cent from April 1 as against 8.5 per cent, at present.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
'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.'
Former Indian Prime Minister Manmohan Singh accused his successor, Narendra Modi, of lowering the dignity of public discourse and the gravity of the office of the prime minister by giving "hateful speeches" during the 2024 Lok Sabha election campaign. In an appeal to voters of Punjab ahead of the seventh phase of Lok Sabha polls, Singh asserted that only the Congress can ensure a growth-oriented progressive future where democracy and the Constitution will be safeguarded.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Investors should avoid making drastic changes to their asset allocation during a market correction.
'We don't know which bus is coming next. I know for sure whatever bus comes next, it will miss that too.'
Bharatiya Janata Party on Thursday issued a three-line whip to all of its Lok Sabha MPs asking them to be present in the House for the passing of the Union Budget 2025-26.
The Supreme Court of India has transferred a Public Interest Litigation (PIL) concerning the safety and longevity of bridges in Bihar to the Patna High Court. The court expressed concern over the state government's handling of bridge collapses, noting that officials were suspended after incidents but reinstated after the public outcry subsided. The court also criticized the state's voluminous response to the PIL, which lacked explanations for the collapses. The Patna High Court will now monitor the state's efforts to ensure structural and safety audits of bridges in Bihar.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
After declining to a three-year low in FY24, the private sector investment is expected to fall further in the current financial year, India Ratings said in a research note.. The investments in the private sector are likely to plummet to below 11 per cent of the GDP in FY25, based on the trends from the latest national accounts data and company fillings, it noted.
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
Interest rate on Public Provident Fund scheme was cut to 8.1%.
With the reduction, term deposits of 1-3 years will now fetch an interest rate of 5.5 per cent from the existing 6.9 per cent.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
'Women' as a political constituency appears to be an idea that has come of age. It is changing India in ways that we only dimly understand, asserts Aditi Phadnis.
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