Finance Minister Nirmala Sitharaman will present her sixth straight Budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai. Sitharaman in her pre-election Budget, which technically is a vote on account and popularly termed an interim Budget, will seek Parliament's nod for a grant in advance to meet the central government's essential expenditure for the first four months of the new fiscal year that starts in April. A new government elected after the April/May general elections will present the full Budget, likely in July.
In several places, from roof-tops and flyovers, people showered petals and garlands on the truck.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent, Sitharaman announced.
National Stock Exchange (NSE) chief Ashishkumar Chauhan on Friday cautioned retail investors against trading in derivatives and suggested them to invest in equities through mutual fund route. He emphasized that trading in Futures & Options (F&O) derivatives should be limited to informed investors who can manage risk and comprehend the market. Recently, Finance Minister Nirmala Sitharaman and chief economic advisor V Anantha Nageswaran flagged the growing risk of F&O trading for retail investors.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The government was going in the "wrong direction" and it was "highly condemnable" that it did not discuss the proposed changes with trade unions and other stakeholders, says BMS, trade union arm of the RSS.
BMS allies with breakaway faction of Congress-affiliated INTUC. This marks a new chapter in India's trade union movement
A 5 per cent GST rate kicked in on Monday on pre-packed and labelled food items such as cereals, pulses and flour weighing less than 25 kg.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
The theme for this year's Yoga day is "Yoga for Humanity".
'This government is not in the hands of M K Stalin but in the hands of the bureaucracy -- the IAS and IPS.'
The action was undertaken after some fresh inputs were obtained during the questioning of few accused involved in the case. The sources said some of the people who are being searched are linked to Singh.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
Ahead of the Union Budget, the banking sector, through the Indian Banks' Association (IBA), has made recommendations to the Union finance ministry on direct tax, including removing Section 194N of the Income Tax Act. According to Section 194N, tax deduction at source (TDS) has to be done if a sum or sums withdrawn in cash by a person in a fiscal year exceed Rs 20 lakh if no income-tax return (ITR) has been filed for the three previous assessment years, and Rs 1 crore if ITRs have been filed in all the three previous assessment years.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
Sitharaman said the notion that across the board in India, violence against Muslims is happening is a fallacy.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
The finance minister's assertion that industry should not expect any spectacular announcements in the 2024 interim Budget suggest that the electoral imperatives of more tax concessions or higher expenditure on welfarist programmes could be far less pronounced than they were before the 2019 interim Budget, expects A K Bhattacharya.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
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