Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
The BJP has launched a fresh attack on Rahul Gandhi, questioning his frequent visits to Vietnam. The party's leaders have accused him of spending more time in the Southeast Asian country than his constituency and have demanded an explanation for his "extraordinary fondness" for Vietnam. Gandhi's foreign trips have been a target of the BJP's criticism in the past, with the party portraying him as unserious and unfit for domestic politics.
The Indian government has informed Parliament that 25 Indian nationals have been sentenced to death in the UAE, but the judgments are yet to be implemented. The Ministry of External Affairs stated that 10,152 Indian prisoners, including undertrials, are currently incarcerated in foreign prisons. The government provides assistance to Indian nationals sentenced to death abroad, including consular access and legal aid. In the past five years, Indian nationals have been executed in Malaysia, Kuwait, Qatar, and Saudi Arabia. The UAE authorities have not shared any data regarding the execution of Indians, but informal information suggests no executions have occurred since 2020.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
According to the Committee's recommendation, while Part 1 of the Budget session would be held from January 29 to February 15, Part 2 would be from March 8 to April 8.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
'The global situation is not very good.'
A leading Catholic Church daily in Kerala has described the Waqf amendment bill as a crucial test of secularism in Parliament, urging MPs to support it. The editorial in Deepika daily comes as the union government prepares to table the bill for parliamentary consideration. The editorial calls the bill a test of secularism and warns MPs that failing to support it would mark them in history as endorsing religious fundamentalism. The paper added that the bill will also put an end to the injustices faced by thousands of Hindu, Christian, and Muslim citizens who have suffered due to the Waqf law. The editorial also recalled the recent statement addressed to Kerala MPs by Kerala Catholic Bishops' Council (KCBC) where the KCBC President Cardinal Mar Baselios Cleemis Catholicos urged amending provisions in the Waqf law that validate claims over land which people of Munambam have lawfully possessed. Opposition parties have slammed the bill as "unconstitutional" and against the interest of the Muslim community.
The All India Muslim Personal Law Board (AIMPLB) has urged Muslims to wear a black armband on their right hand during Juma prayers on the last Friday of Ramzan as a mark of protest against the Waqf (Amendment) Bill. The AIMPLB has been vocal in its opposition to the Bill, calling it "controversial, discriminatory and damaging." The organization has planned nationwide protests against the Bill, with large sit-ins scheduled in several cities.
The opposition leaders are expected to meet at Leader of Opposition in Rajya Sabha Mallikarjun Kharge's office in the Parliament complex around 10 am, sources said.
Government departments have been tasked with identifying major goals, which will include annual targets from the financial year 2024-2025 to 2028-2029.
Finance Minister Nirmala Sitharaman commended the outstanding performance of chess prodigy Praggnanandhaa
The agency was allocated Rs 835.39 crore to manage its affairs in 2021-22 which was later increased to Rs 870.50 crore in the Revised Estimates given in the Budget document released Tuesday by Finance Minister Nirmala Sitharaman.
Both Lok Sabha and Rajya Sabha committees had recommended that their suspension be withdrawn after they expressed regret for their conduct during the Winter session when their relentless protests prompted the Chairs to take action.
A large number of items including petrol, diesel, gold, silver, cigarettes, fully-imported cars and split air conditioners will become more expensive due to hike in taxes, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2019-20.
The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue.
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
This is an increment of about 0.50 per cent compared to the last budget.
Week beginning March 12 will unveil, one-by-one, new information and data that will have a bearing on Budget.
Chief ministers of three Congress-ruled states -- Karnataka's Siddaramaiah, Himachal Pradesh's Sukhvinder Singh Sukhu and Telangana's Revanth Reddy -- have announced they will not attend the NITI Aayog meeting over alleged bias against their states in the Union Budget.
The Bharatiya Janata Party's office-bearers, members of Parliament and other leaders will fan out across the country to explain the merits of Union Budget 2022 to the people.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
The Opposition parties on Friday slammed the Union Budget presented by Finance Minister Pranab Mukherjee as "anti-people", "lacklustre" and one that would increase the financial burden on the common man.
The recess allows department-related standing committees to examine demands for grants of various ministries. The Finance Bill and related demands for grants are passed in the second phase of the Budget session.
Prime Minister Narendra Modi on Thursday said the interim Budget presented by Union Finance Minister Nirmala Sitharaman offers the "guarantee" of strengthening the foundation of a developed India and carries the "confidence of continuity".
Among Sensex shares, Hindustan Unilever, Bharti Airtel, Tech Mahindra, Infosys, Mahindra & Mahindra, ICICI Bank, ITC and Asian Paints were the biggest winners. On the other hand, Kotak Mahindra Bank, Reliance Industries, NTPC, UltraTech Cement and Power Grid were among the laggards.
Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', she said while presenting the Budget in the Lok Sabha.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
The government has set up a search committee under Union Law Minister Arjun Ram Meghwal to shortlist names for the appointment of the next chief election commissioner, sources said on Monday, citing an order.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
Finance Minister Nirmala Sitharaman on Monday called on President Ram Nath Kovind before presenting the Union Budget 2021-22. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament. The Union Cabinet will meet at 10.15 am to clear the Budget.
A communication from the Lok Sabha Secretariat said on Thursday that the session would conclude on April 8.
India has reported 59 cases of Human Metapneumovirus (HMPV) and two deaths due to co-morbidities between January 6 and 29, according to Union Minister Prataprao Jadhav. The virus primarily affects young children, the elderly, and immunocompromised individuals, leading to respiratory illnesses. The government has taken measures to monitor and control the spread of HMPV cases and create public awareness.
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
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