Car sales in India grew 13.11 per cent to 2,11,402 units in February as customers rushed to buy vehicles fearing rise in prices post the Union Budget, to be presented this week.
Excise duty on small cars is cut to 8 per cent where as the tax on large- and mid-sized cars has been brought down to 20 per cent.
As far as your long-term plans are concerned, there is no need to effect any change. In fact, you should use the current sell off in the global and Indian markets as an opportunity and consider adding to your stocks investments.
The new definition for completely knocked down (CKD) units of vehicles introduced in the Budget for 2011-12 has pushed up sales figures of luxury cars.
Overhauling portfolios or making hasty investment decisions based on the budget will only hurt you.
In an hour-long chat on rediff.com on Tuesday, Ganesh Natarajan, former chairman of National Association of Software and Service Companies, replied to many Budget-related queries on IT.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Target prices around Rs 400 suggest a significant upside.
RBI's latest rate cut will bring down home, car loan's EMI.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
The BJP is doing politics over the issue. We demand 'The Kashmir Files' film to be uploaded on YouTube, Kejriwal said.
5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, saving precious time for critical patients. 5G technology would also support the development of new educational applications, improve agriculture productivity, and aid search and rescue missions with high resolution cameras in disaster recovery zones.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
The Delhi government's budget size for 2022-23 was Rs 75,800 crore and Rs 69,000 crore in the preceding year.
Benchmark Sensex soared higher by 623.10 points - the biggest one-day gain since May 18, 2009.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under the new tax regime is to gradually "do away with deductions and exemptions" so that the "long-standing demand of reduction of taxes for individual taxpayers and entities can be met." Finance Minister Nirmala Sitharaman, while presenting the Budget 2023-24 in the Parliament on Wednesday, said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
However, domestic institutions were aggressive during the period and bought shares worth Rs 44.6 crore (Rs 446 million). The BSE Sensex has lost 1,512 points, or 10.14 per cent, in the same period. On Monday, the stocks fell to a two-month low, led by Tata Steel and other metals producers after commodity prices declined, and on concerns that government measures might not be enough to revive economic growth.
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.
'The BJP's real weapons are Hindutva, organisation and finance.'
Investors' wealth has jumped Rs 9,57,201.52 crore in the last three days of rally in equity market as stocks continued to march higher amid the Budget-led euphoria. The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued. This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Finance Minister Nirmala Sitharaman is scheduled to address the post-budget meeting of the RBI's central board on Monday and highlight key points of the Union Budget 2022-23, including the fiscal consolidation roadmap and high capex plan. It has been a custom that the finance minister addresses the RBI board, consisting of RBI Governor and existing four deputy governors, after the Budget. The meeting has been scheduled for February 14 where she would be addressing the board members and talk about announcements made in the Budget to perk up growth hit by three waves of COVID-19, sources said.
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
'The most important expenditure in the Budget that indicates employment generation is infrastructure.'
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
Delhi hosted the first Asian Games in 1951, and the ninth edition in 1982. In 2010, the national capital had hosted the Commonwealth Games.
His remarks assume significance at a time when a large number of Indian students, many of them studying medicine, have been stuck in Ukraine following the Russian attack on that country.
At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
Tuesday's top gainers included SBI, UltraTech Cement, HDFC Bank, L&T, Bharti Airtel, Maruti Suzuki and Kotak Bank.
'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 Congress had on Friday extended support to the countrywide 'chakka jam' called by the farmer unions, saying party workers will stand shoulder to shoulder with farmers in their protest.
'We can go somewhere between 35 per cent and 40 per cent.'
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