Bulk of the gains projected from direct taxes will come from the surcharge on super-rich.
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 debate on interest rates continues on the days leading to the Budget. So what are its consequences on our household budgets and pockets? Read on. . .
'The formula now is even if there is no profit there should be break-even.' 'We green-light a film only if we can see break-even in it.'
The entire census and NPR exercise is likely to cost the government over Rs 12,000 crore, the officials said.
First things first: For those wondering if they need to reapply, the answer is no.
In a boost to the space programme, the government on Wednesday approved the Chandrayaan-4 mission to bring back moon rocks to earth, to send a spacecraft to orbit planet Venus and to expand the Gaganyaan project to build an Indian space station.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
Elections have become a "big budget affair" and holding simultaneous polls to Lok Sabha and state assemblies would result in huge saving to the exchequer, the government said on Thursday.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Finance Minister Nirmala Sitharaman on Monday said the government has come out with open and transparent Budget and has not made any attempt to hide anything under the carpet.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
'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).
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
'When you watch Freedom At Midnight, I want you to feel like you are sitting on a ticking time bomb.'
"The new districts, namely Zanskar, Drass, Sham, Nubra and Changthang, will take the benefits meant for the people to their doorsteps by bolstering governance in every nook and cranny," he said.
What does the Budget attempts to do?
While the focus on infrastructure means more business for PSU banks, the lack of risk-assessment capability is a major issue.
'...to address the serious faultlines that had got exposed during the pandemic.' 'If the economy is looking up this year, we could have been allocated an increase of at least 20%.'
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.
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.
These "cyber commandos" will be different from personnel at cyber police stations and will work with local administration to tackle cyber threats.
Multiple challenges, particularly with regard to cabinet formation, stare at Siddaramaiah as he takes over as the new chief minister of Karnataka, nudging out party colleague and state Congress president D K Shivakumar -- who will now be his deputy.
For how many more years will the annual Budget circus continue in its current form? This is a question often asked at post-Budget seminars held across the country every year around this time.
'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.'
West Bengal is home to 43,000 Durga Pujas, and the business around it is a major economic driver.
She said crucial elections are going on now, and stressed that she is not important but the issues of the country are.
In post-Budget comments, the finance minister said that the Budget would stimulate investment and consequently growth.
rediffGURU Dr Pananjay Tiwari lists the options and cost of pursuing an MBBS education outside of India.
Naresh, who works at a bookstall and Raichand Singh, who owns a small hotel, at Carter Road in Bandra (suburban Mumbai), feel that post-budget the prices of essentials like cooking gas, petrol and hence vegetables is likely to move up.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
The row over the appointment of Bharatiya Janata Party leader and seven-term member Bhartruhari Mahtab as the pro-tem speaker is likely to cast a shadow over the session.
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
Announcing a Re 1 crop insurance scheme for farmers, the deputy CM said the government will bear the financial burden of Rs 3,312 crore.
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%.
'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'
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