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Lok Sabha passes Finance Bill 2024 with few amendments The Finance Bill 2024 was passed by Lok Sabha with a few amendments moved by the government. Finance Minister Nirmala Sitharman said the approach of the government has been to bring greater simplification of tax laws and procedures and enable growth and employment in the country. The Finance Minister clarified that in real estate, the roll over provisions have not been withdrawn and are applicable. She said if the capital gain in a property transaction is invested in buying another one or two...
Lok Sabha passes Finance Bill 2024 with few amendments
Lok Sabha passes Finance Bill 2024 with few amendments
Source: Accord Fintech
2024-08-08 10:22:41 am
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing In a fillip to local manufacturing, 32 companies have invested Rs 8,282 crore under the production-linked incentive (PLI) scheme for large-scale electronics manufacturing till June 30, the Parliament was informed on Wednesday.   The IT Ministry said that 27 companies have cumulatively invested Rs 464.66 crore under the PLI scheme for IT hardware and PLI scheme 2.0 for IT hardware. In a written reply to a question in Lok Sabha, Minister of State for Electronics and IT, Jitin Prasada...
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing
Source: IANS
2024-07-25 10:01:58 am
Glad to know Finance Minister has read Congress manifesto, says Chidambaram After Union Finance Minister Nirmala Sitharaman introduced many schemes while presenting the Budget on Tuesday, former Finance Minister P. Chidambaram said that he is glad to know that the Finance Minister has read the Congress manifesto of 2024 Lok Sabha elections. “I am glad to know that the Hon'ble FM has read the Congress Manifesto LS 2024 after the election results,” the former Finance Minister wrote on X. He said that he is also happy that the Finance Minister has ...
Glad to know Finance Minister has read Congress manifesto, says Chidambaram
Glad to know Finance Minister has read Congress manifesto, says Chidambaram
Source: IANS
2024-07-23 02:16:04 pm
What small traders from Varanasi expect from the Union Budget Common people have high hopes from the Union Budget 2024-25 which will be presented in the Parliament on Tuesday.   Speaking to IANS, small traders from Prime Minister Narendra Modi’s Lok Sabha constituency Varanasi have shared their thoughts on the Union Budget. , said, "We have a lot of expectations from the Modi government, including reduction of GST on Banarasi sarees. There is high demand for our art and tradition, but due to increasing GST, sales are decreasing. If...
What small traders from Varanasi expect from the Union Budget
What small traders from Varanasi expect from the Union Budget
Source: IANS
2024-07-23 09:10:46 am
Economic Survey 2023-24: Economy continues to expand, inflation largely under control The Centre on Monday tabled the Economic Survey 2023-2024 in the Lok Sabha.  The survey presented by Finance Minister Nirmala Sitharaman and prepared by the Economic Division under the Ministry of Finance provides a detailed analysis of the economic performance for the fiscal year 2023-24. It says the economy continues to expand which is estimated to have grown 8.2 per cent in real terms in FY24. "In June, a new government took office. The National Democratic Alliance gover...
Economic Survey 2023-24: Economy continues to expand, inflation largely under control
Economic Survey 2023-24: Economy continues to expand, inflation largely under control
Source: IANS
2024-07-22 01:51:40 pm
FM Nirmala Sitharaman to present Economic Survey 2023-24 in Parliament today Union Finance Minister Nirmala Sitharaman will release the Economic Survey 2023-24 on Monday, the first day of the Monsoon Session of Parliament.  The document has been prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the Chief Economic Adviser. It is a report card on the economy and presents the growth outlook. The survey gives a detailed account of the state of the economy, prospects and pol...
FM Nirmala Sitharaman to present Economic Survey 2023-24 in Parliament today
FM Nirmala Sitharaman to present Economic Survey 2023-24 in Parliament today
Source: IANS
2024-07-22 09:17:38 am
FM Nirmala Sitharaman to present Union Budget on July 23 Finance Minister Nirmala Sitharaman will present the Union Budget 2024-25 on July 23, Parliamentary Affairs Minister Kiren Rijiju announced on Saturday.  The Budget Session of Parliament will start on July 22 and extend till August 12. “Hon’ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigenc...
FM Nirmala Sitharaman to present Union Budget on July 23
FM Nirmala Sitharaman to present Union Budget on July 23
Source: IANS
2024-07-07 08:42:32 am
Startups in India raise over $97 million in election result week The Indian startup ecosystem, the world’s third largest, saw $97.3 million in funding across 10 deals this week as Lok Sabha election results were declared, paving the way for the BJP-led NDA to return to power.  The fintech sector led the overall startup funding. Digital lending platform Fibe secured $90 million ($65.5 million in primary capital and the rest via secondary transactions) led by TR Capital, Trifecta Capital and Amara Partners. Akshay Mehrotra, Co-founder and CE...
Startups in India raise over $97 million in election result week
Startups in India raise over $97 million in election result week
Source: IANS
2024-06-09 09:02:23 am
Just In: RBI`s MPC keeps repo rate unchanged at 6.5% for eight consecutive time The Reserve Bank of India’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 6.5 per cent for the eight consecutive time. This is the first time the MPC met after the results of the Lok Sabha election were declared. The monetary policy stance continues to be ‘withdrawal of accommodation’. RBI Governor Shaktikanta Das said that the headline inflation continues to be in a disinflation trajectory. The RBI MPC also kept the SDF unchanged at 6.25 per cent, and ...
Just In: RBI`s MPC keeps repo rate unchanged at 6.5% for eight consecutive time
Just In: RBI`s MPC keeps repo rate unchanged at 6.5% for eight consecutive time
Source: Accord Fintech
2024-06-07 10:52:28 am
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike A day after Lok Sabha poll results were declared, the Assam government hiked taxes on petrol and diesel. Chief Minister Himanta Biswa Sarma claimed that the prices of fuel are cheaper in Assam by at least Rs 7 compared to Opposition-ruled states like West Bengal. The Assam government has hiked VAT on petrol and diesel and as a result, petrol gets costlier by Rs 1.01 while the price of diesel has been increased by Rs 1.02 in the state since Thursday midnight. People have expressed their ...
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike
Source: IANS
2024-06-06 04:47:30 pm
Railways rushes more coal to power plants to meet peak summer demand Railways rushes more coal to power plants to meet peak summer demand New Delhi, June 6 (IANS) Indian Railways transported 9.3 per cent more coal in May this year compared to the same month last year to help the country’s power plants meet the peak demand for electricity in the scorching summer from power plants, official data shows. Coal stocks at thermal power plants have been replenished in time, as logistics planning was undertaken in advance for the onset of the summer. The full com...
Railways rushes more coal to power plants to meet peak summer demand
Railways rushes more coal to power plants to meet peak summer demand
Source: IANS
2024-06-06 04:31:32 pm
BJP-led NDA`s slim majority in Lok Sabha may delay economic and fiscal reforms: Moody's Moody's Ratings in its latest report has said that the BJP-led National Democratic Alliance's (NDA) slim majority in Lok Sabha may delay more far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation. It also expects policy continuity, especially with regards to budgetary emphasis on infrastructure spending and boosting domestic manufacturing, to support robust economic growth.  According to the report, India's fiscal outcomes will remain ...
BJP-led NDA`s slim majority in Lok Sabha may delay economic and fiscal reforms: Moody's
BJP-led NDA`s slim majority in Lok Sabha may delay economic and fiscal reforms: Moody's
Source: Accord Fintech
2024-06-06 11:26:11 am
What next for investors as stock markets remain volatile Investors are concerned about the stock markets due to the unexpected outcome of the Lok Sabha results which caused a steep fall in the Indian equity benchmarks on June 4.  According to market experts, there may be volatility in the coming days but the market will give positive returns in the long run. Both Sensex and Nifty rebounded on Wednesday. Investors should focus on largecap and right-valued stocks. “As soon as the new government is formed, stability will return to the...
What next for investors as stock markets remain volatile
What next for investors as stock markets remain volatile
Source: IANS
2024-06-05 01:53:49 pm
Over Rs 8K cr added on Zerodha's Kite app on Lok Sabha election results day More than Rs 8,000 crore in funds was added on Zerodha's Kite app on the Lok Sabha election results day, according to a chart shared by the brokerage firm’s co-founder and CEO Nithin Kamath on Tuesday.  Kamath, in a post on X, shared the activity chart with the caption, "Activity today on Kite". As per the chart, nearly 34.5 million orders were placed on the Kite app. The app also witnessed more than 8 million logins and over 1 million GTT triggered. Howev...
Over Rs 8K cr added on Zerodha's Kite app on Lok Sabha election results day
Over Rs 8K cr added on Zerodha's Kite app on Lok Sabha election results day
Source: IANS
2024-06-05 10:06:51 am
Rs 26 lakh crore investor wealth erased after Sensex tanks 3,690 points Indian equity indices saw a steep fall on Tuesday after early counting trends showed a tough contest between the NDA and the opposition INDIA bloc in the Lok Sabha elections.  Investors lost nearly Rs 26 lakh crore due to a steep fall in the equity benchmarks after early trends of the elections started to trickle in Saturday. By 11 a.m. in Tuesday's session, BSE's market cap touched Rs 400 lakh crore, which was Rs 426 lakh crore when the market closed on Monday. Indian m...
Rs 26 lakh crore investor wealth erased after Sensex tanks 3,690 points
Rs 26 lakh crore investor wealth erased after Sensex tanks 3,690 points
Source: IANS
2024-06-04 12:01:00 pm
Sensex, Nifty open 2 per cent down on counting day Sensex went down over 1,500 points on Tuesday as the Nifty dropped more than 500 points amid early trends on Lok Sabha elections counting day.  The Sensex opened 1,544.14 points, or 2.02 per cent, down at 74,924.64, while the Nifty opened 491.10 points, or 2.11 per cent, down at 22,772.80. Nearly 891 shares advanced, 1,572 shares declined while 121 shares remained unchanged. Market experts advised that investors need not rush in to buy even if the results confirm the Exit Poll f...
Sensex, Nifty open 2 per cent down on counting day
Sensex, Nifty open 2 per cent down on counting day
Source: IANS
2024-06-04 09:48:45 am
Government going for vote on account on Feb 1, no big bang announcements: FM Nirmala Sitharaman  Finance Minister Nirmala Sitharaman has said that the upcoming Union Budget on February 1, 2024 to be presented in Parliament ahead of the Lok Sabha elections will not be a regular budget but only a vote on account so the government is not likely to make any "spectacular announcements". The vote on account is an interim budget through which the incumbent government seeks Parliament's approval for expenditure required to run the country till the new government takes over...
Government going for vote on account on Feb 1, no big bang announcements: FM Nirmala Sitharaman
Government going for vote on account on Feb 1, no big bang announcements: FM Nirmala Sitharaman
Source: IANS
2023-12-07 02:03:34 pm
28% GST on online gaming, casinos & horse racing from Oct 1: CBIC chief The Central Board of Indirect Taxes and Customs (CBIC) is prepared to implement the 28 per cent GST (Goods and Services Tax) rate on online gaming, casinos and horse racing from October 1, CBIC chairman Sanjay Agarwal said on Thursday.?We are fully prepared to bring it into effect from October 1. As per the decision taken in the last meeting of the GST council, the related notifications are under process,? the CBIC chairman told media persons.This move comes with the consensus of all states a...
28% GST on online gaming, casinos & horse racing from Oct 1: CBIC chief
28% GST on online gaming, casinos & horse racing from Oct 1: CBIC chief
Source: IANS
2023-09-29 09:59:20 am
Uttar Pradesh government proposes hike in sugarcane SAP The Uttar Pradesh government is considering a proposal to increase the sugarcane State Advisory Price (SAP) in the upcoming crushing season scheduled to start from October.The state government may go in for a cane price revision ahead of the 2024 Lok Sabha elections.A senior government official said that initial discussions on the issue have weighed in favour of revising the SAP which has remained unchanged for almost two years.The last hike in SAP was done in September 2021, months ahead of ...
Uttar Pradesh government proposes hike in sugarcane SAP
Uttar Pradesh government proposes hike in sugarcane SAP
Source: IANS
2023-09-14 09:45:10am