This will not affect the tax exemption provided to the amount received on the death of a person insured. It will also not affect insurance policies issued till March 31, 2023
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
All credit to the finance minister for walking the fiscal and expectation tightrope extremely well in his budget speech, says Ganesh Natarajan.
Ahead of the Parliament session, the government will hold a meeting with leaders of all parties on Sunday to brief them and hear their views, amid an intense buzz on whether it will have some surprise item up its sleeve during the five-day sitting.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
In its biggest post-Budget day rally ever, the Sensex had soared 777 points on March 1, also its best single-day show in nearly seven years.
Foreign Office spokesperson Mumtaz Zahra Baloch during her briefing on Friday was asked to comment on the successful soft-landing of the Chandrayaan-3 mission on the Moon.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
On Monday, a new chapter will be written in Ayodhya's and the country's history with the consecration ceremony at the newly-built Ram temple which will be attended by Prime Minister Narendra Modi and over 7,000 guests.
Tuesday's top gainers included SBI, UltraTech Cement, HDFC Bank, L&T, Bharti Airtel, Maruti Suzuki and Kotak Bank.
Arun Jaitley addressed a post-Budget press conference.
Commenting on the seat sharing in the Indian National Developmental Inclusive Alliance (INDIA), Samajwadi Party president and former Uttar Pradesh chief minister Akhilesh Yadav on Saturday said in Ballia that a decision will be made as soon as Surya Uttarayan occurs.
Australia's state of Victoria has withdrawn as host of the 2026 Commonwealth Games, placing the future of the quadrennial multi-sport event in doubt
A security guard in Mumbai tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitaraman's Budget.
Leaders of several opposition parties on Thursday hailed the Supreme Court verdict striking down the electoral bonds scheme and termed it an important step in ensuring transparency in electoral funding.
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
Despite a slowing economy, the Budget does not envisage any major stimulus through the budgeted fiscal deficit figures, said Goldman Sachs.
The plane that took off from Dubai in the United Arab Emirates carrying 303 Indian passengers, including many minors, was grounded at the Chalons-Vatry airport in Marne on Thursday.
This is the BJP's first full-year Budget.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors, the government data showed on Thursday. The gross domestic product (GDP) expanded by 6.2 per cent in the July-September quarter of 2022-23. India remained the fastest-growing major economy, as China posted a 4.9 per cent growth in July-September 2023.
According to DMK, the voters are already consolidated on ideological lines, hence the impact of anti-incumbency, whether against the BJP Centre or the DMK state may not be too much, notes N Sathiya Moorthy.
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
The Maharashtra government on Friday told the Bombay high court that the state-run hospitals in Nanded and Chhatrapati Sambhajinagar which recently saw a spurt in patient deaths faced a heavy inflow of extremely critical patients from private hospitals.
India's cement demand has consistently shown double-digit growth over the past few quarters, primarily driven by infrastructure spending. However, dealers and industry executives note that state elections, festival season, and, in some markets, weddings and pollution may temporarily disrupt this demand story. While the festival season typically sees a slowdown in construction activity, some dealers anticipate this lull extending throughout the entire month as multiple states enter election mode.
'What's beautiful now about India is that we are discovering so much more about each other, our stories and micro culture.'
The unusual timing of the session has left everyone wondering, even though the main standout feature on the listed agenda is a special discussion on Parliament's journey of 75 years starting from the "Samvidhan Sabha" (Constituent Assembly).
Among the handful of countries with large defence budgets and armed forces, India is matched only by Saudi Arabia in the level of its import dependence. For revenge to be served cold, go beyond import bans and correct these long-term failures -- if we're up to it, notes T N Ninan.
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
The state anthem was played on the last day of the budget session and BJP MLA Jibesh Kumar Mishra was seen remaining seated through it.
In her first address to a joint sitting of the two Houses in the new Parliament building in which she touched on varied issues ranging from insurgency to inflation, Murmu said a country can progress at a fast pace only when it defeats the challenges of the past and puts maximum energy into building the future.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
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