The Budget session of Parliament will commence on January 29 and finance minister Nirmala Sitharaman will present the Union Budget on February 1.
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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?
Ahead of the Union Budget, SBI economists on Tuesday pitched for avoiding new taxes and urged the government to mount “honest attempts” to settle past litigations to raise resources instead.
Finance minister Nirmala Sitharaman on Friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21.
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
This year’s Budget had to lift an economy that’s growing the slowest in a decade. Here are the key obstacles the FM faced and how she attempted to clear them in a 2-hour40-minute speech.
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.
Budget fails to impress markets, sensex dives 988 points to close at 39,736; Nifty ends below 11,650
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.
Just days before the Union Budget 2020, Congress leader Rahul Gandhi on Wednesday attacked the government over falling over GDP (gross domestic product) and spike in inflation numbers.
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
The government will unveil its “plan of action” to boost the economy in the Union Budget to be presented on February 1, Union minister Prakash Javadekar said on Wednesday, asserting that economic fundamentals remain very strong.
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
The official printing of the Union Budget 2020 documents starts with the ‘halwa’-making ceremony. As part of the ritual, ‘halwa’ is prepared in a big ‘kadhai’ (large frying pot) and served to the entire staff in the finance ministry.