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Finance minister Nirmala Sitharaman on Monday presented the first-ever digital Union Budget. She announced higher capital expenditure for 2021 and said this year’s budget focused on six pillars- health and wellbeing; physical and financial capital, and infrastructure; inclusive development; reinvigorating human capital; innovation and R&D; minimum govt, maximum governance.

This was probably the toughest budget yet for Prime Minister Narendra Modi, as his government navigates the twin challenges of steering the $2.7-trillion Indian economy out of an unprecedented recession. The farm sector received attention but there were no major announcements that could help address the ongoing protests for the repeal of new agriculture laws.

India’s annual budget will be unveiled on February 1, with expectations that the government will boost spending to reboot an economy that’s forecast to contract the most this year since 1952. Analysts believe that tax cuts, higher capital expenditure and greater spending on infrastructure, which tend to support low-income earners, hold the key to unlocking … Continue reading Union Budget 2021: Which are the stocks to watch

Finance minister Nirmala Sitharaman is expected to unveil plans to boost economic growth when she presents the 2021/2022 Union Budget on February 1. Corporates and industry lobby groups expect the government to announce greater spending on healthcare and infrastructure, as well as tax breaks for the automotive, manufacturing and tourism industries, reeling from the coronavirus … Continue reading What Indian industries want from Union Budget 2021

There is growing discussion around the introduction of a “vaccine cess” in the Union Budget to fund the rollout of the Covid-19 vaccine at a time when revenues are under strain and there is a growing demand for funds, including for higher defence allocation.With the economy showing signs of returning to normalcy, things have started … Continue reading Budget 2021: ‘Cess’ in Budget to fund vax rollout?

More than a one lakh retailers across the country will be hit by 200 per cent import duty hike, toy importers, who went on strike on Saturday, said. The Centre, in the Union Budget, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying … Continue reading 200% import duty hike to hit toy business in India: Importers

In a bid to encourage domestic companies, Finance Minister Nirmala Sitharaman, in her 2 hour 40 minute budget speech, announced a hike in the customs duty on a variety of products ranging from tableware and kitchenware to electrical appliances, footwear, furniture, stationery and toys.

Investor wealth plummeted by Rs 3.46 lakh crore on Saturday as equity markets came crashing after the Union Budget for 2020-21 failed to live up to expectations. The massive sell-off in equity market wiped out investor wealth, which fell by Rs 3,46,256.76 crore to Rs 1,53,04,724.97 crore on the BSE.

Equity indices on Saturday plunged sharply after finance minister Nirmala Sitharaman presented the Union Budget, tracking a massive selloff in capital goods and financial stocks. The benchmark BSE sensex dived 987.96 points or 2.43 per cent to finish at 39,735.53. While, the broader NSE Nifty closed 318.30 points or 2.66 per cent lower at 11,643.80.

Manufacturing companies in India may need to fulfil 1,984 compliances under various central and state laws, which are time-consuming and increase the cost of doing business, industry lobby group Ficci has told top government functionaries ahead of the Union Budget.

Reserve Bank of India governor Shaktikanta Das on Friday called for structural reforms and fiscal measures to activate growth, saying monetary policy has its limits. Das said that states should also play an important role by enhancing capital expenditure which has high multiplier effect. His comments come days ahead of the Union Budget on February … Continue reading Monetary policy has limits, need structural reforms: RBI governor

Removal of the long-term capital gains tax and measures to boost consumption are high on equity investors’ wish list from the Union Budget. With the economy facing its worst growth finance minister Nirmala Sitharaman needs to offer support for individuals and businesses. The scope may be limited, however, amid concern over a larger than projected … Continue reading Investors in India hope to see tax on equity gains scrapped