He alleged that besides Modi and Shah, Finance Minister Nirmala Sitharaman had also commented on the stock markets ahead of elections, which has never happened in the past.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
The Bharatiya Janata Party and its allies on Tuesday welcomed the Union Budget and said it focussed on youth, farmers, women, and has 'substantial allocations' for Maharashtra, but the opposition slammed the annual financial statement, claiming it neglected the western state and only seeks to please the saffron outfit's partners in Bihar and Andhra Pradesh.
On a day a sexual abuse case was registered against actor Siddique based on a complaint by a woman actor, the Left government appears to have adopted a cautious approach in the case of MLA Mukesh, with two ministers indicating that further action hinges on the findings of the probe by the special police team.
The finance minister as part of his pre-Budget consultations is meeting industry bodies and ministers and has slotted Deora for June 15, a source said. On Deora's agenda will be getting back the seven-year exemption or holiday from payment of income tax for natural gas producers. He may also press for infrastructure status for natural gas.
He also urged all the ministers, MLAs, and public representatives to respect party workers.
The forward process is on, the Finance Minister Pranab Mukherjee tells NDTV 24x7.
Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation. This amendment is also to improve audit quality in public-sector banks (PSBs), offer consistency in reporting by banks to the Reserve Bank of India (RBI), and provide for an increase in the tenure of directors in cooperative banks.
Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the National Democratic Alliance government on issues ranging from the NEET paper leak case and railway safety.
The session will conclude on July 3.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
Sharing details about the decision, tourism minister Jaivir Singh said the tourism department would provide the company land for the international-level museum on a 90-year lease for a token amount of Re 1.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
Finance Minister Nirmala Sitharaman commended the outstanding performance of chess prodigy Praggnanandhaa
A united opposition is set to corner the NDA government on issues ranging from the NEET paper leak case to railway safety.
Welcoming Obama's financial sector reform proposals, German finance minister Wolfgang Schaeuble said on Sunday he plans to convene a meeting of the G-20 finance ministers in Berlin ahead of the G-20 summit in Canada in June.
BJP leaders Manohar Lal Khattar, Shivraj Singh Chouhan, Bandi Sanjay Kumar and Ravneet Singh Bittu may be among the new faces in the Union council of ministers which will be sworn on Sunday evening along with Prime Minister-designate Narendra Modi.
In a recent public appearance, Mr Chidambaram was quite candid in saying that UPA-II misread the signals from its electoral performance in 2009.
As citizens, here's an opportunity for you to tell Finance Minister Arun Jaitley the reforms you would like to see in various sectors, what needs to be rectified, what needs to be strengthened, what needs to be dumped. So take some time off write a postcard to the finance minister.
In tackling India's unemployment problem, look beyond the finance minister and focus on the education minister, points out Gurbachan Singh.
So tell us, does Sitharaman's budget deserve cheers or boos?
The revised budget for 2024-25 shows a sharp rise in the allocations, particularly for major irrigation projects and the Namami Gange Mission-II.
Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday met ministers from the state at his residence in Lucknow to discuss the upcoming assembly bypolls in 10 constituencies.
Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, said the government will also adopt an economic approach that facilitates sustainable development and improves productivity.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
Soon after Union Finance Minister P Chidambaram presented the Union Budget 2013 in Parliament, Trinamool Congress leader and former Railway Minister Dinesh Trivedi joined us for the Budget chat.
Finance Minister Pranab Mukherjee seems to have stuck to increasing income for the government as the sole focus of the Budget 2010. The key problem faced by people -- inflation has been thrown out of the window of consideration.
Here is the entire text of the Finance Minister Pranab Mukherjee's Budget Speech:
Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
The Halwa ceremony, marking the final stage of the budget preparation process for Interim Union Budget 2024, was held in North Block on Wednesday in the presence of Union Finance Minister Nirmala Sitharaman. Union Minister of State for Finance Dr Bhagwat Kisanrao Karad was also present. A customary halwa ceremony is performed every year before the "lock-in" process of Budget preparation begins.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
Finance Ministers play a key role in shaping the economy of a country.
Tata Electronics on Saturday began the construction of its Rs 27,000-crore chip assembly plant in Assam, which is expected to become operational next year and create 27,000 jobs initially. The plant will produce 4.83 crore chips per day using indigenously-developed technologies. The plant's Bhumi Pujan (foundation stone laying) ceremony was held at the project site at Jagiroad in Morigaon district in the presence of Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran.
'India has a skill shortage of 56%.' 'This is a very interesting paradox -- the unemployment rate is 6% to 7%, and at the same time 20% of those qualified are unemployed.'
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