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GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses Ready-to-eat popcorn is set to attract varying GST rates based on its preparation and packaging, it was decided in the 55th GST Council meeting on Saturday.  For popcorn (mixed with salt and spices), it retains the essential character of 'namkeens'. It means a GST of 5 per cent applies if it is supplied loose or unpackaged, while 12 per cent GST will kick in for pre-packaged and labelled popcorn. However, caramel popcorn and similar offerings will attract a higher 18 per ce...
GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses
GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses
Source: IANS
2024-12-21 05:19:57 pm
55th GST Council defers rate cut decision on health insurance premiums The Goods and Services Tax (GST) Council on Saturday deferred the decision on rate cuts on life and health insurance premiums,  as some more technicalities need to be ironed out.  The GST exemption/reduction on life and health insurance premiums is a long-pending demand of the industry, as the move would alleviate the tax burden on both insurers and policyholders. According to people in the know, the GST Council in its 55th meeting in Jaisalmer, chaired by Union Finance Minist...
55th GST Council defers rate cut decision on health insurance premiums
55th GST Council defers rate cut decision on health insurance premiums
Source: IANS
2024-12-21 05:04:55 pm
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax` As the 55th meeting of the GST Council was set to begin in Jaisalmer on Saturday, chaired by Union Finance Minister Nirmala Sitharaman, the proposed rate cut on health insurance premiums and the inclusion of Aviation Turbine Fuel (ATF) under the GST ambit would be among the key focus areas.  The GST Council is also set to deliberate on revising the rates of nearly 150 items during the meeting which is likely to help the Centre generate additional revenue of nearly Rs 22,000 crore. ...
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax`
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax`
Source: IANS
2024-12-21 09:51:44 am
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer Union Finance Minister Nirmala Sitharaman has arrived in Jaisalmer for the 55th GST Council meeting scheduled to be held on Saturday at Marriott Hotel.  Chief Ministers, Deputy Chief Ministers, and Finance Ministers from various states, along with Finance Secretaries and senior officials, also reached Jaisalmer on Friday. The dignitaries were welcomed at Hotel Marriott amidst tight security arrangements. Jaisalmer Airport witnessed significant activity as leaders from across the co...
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer
Source: IANS
2024-12-21 09:40:52 am
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday chaired the pre-budget consultations with Finance Ministers of States and Union Territories (with Legislature) at Jaisalmer in Rajasthan.  The participants gave several valuable suggestions to the Union Finance Minister for consideration in the Union Budget for FY 2025-26. Sitharaman remarked that because of the healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the funds d...
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman
Source: IANS
2024-12-21 09:36:44 am
India`s growth momentum has picked up after Q2 slowdown: Jeffries The improvement in India's economic growth after the slowdown in the July-September quarter is visible as movement indicators like fuel consumption, vehicles tolled and air traffic have strengthened, Jefferies said in a note on Wednesday.  The Jefferies economy tracker composite indicator shows growth pick-up sustaining in November with the indicator up 6.4 per cent year-on-year, the second fastest growth pace in 13 months. "The festive season created month-on-month volati...
India`s growth momentum has picked up after Q2 slowdown: Jeffries
India`s growth momentum has picked up after Q2 slowdown: Jeffries
Source: IANS
2024-12-18 04:17:20 pm
Indian government seeks parliament nod for extra spending for FY25 The Indian government sought on Thursday parliament's approval for gross additional spending of 867.3 billion rupees ($10.22 billion) in the current fiscal year, the finance ministry said. The government said the net additional spending for the current fiscal year ending March 31, would be 441.83 billion rupees, while the rest would be accommodated by reshuffling expenses. ($1 = 84.8650 Indian rupees)
Indian government seeks parliament nod for extra spending for FY25
Indian government seeks parliament nod for extra spending for FY25
Source: Reuters
2024-12-12 03:27:39 pm
Banking laws amendment bill set to boost consumer experience, protect people  In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts.  The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successiv...
Banking laws amendment bill set to boost consumer experience, protect people
Banking laws amendment bill set to boost consumer experience, protect people
Source: IANS
2024-12-04 05:00:46 pm
Centre has released Rs 50,571 crore to states as special assistance The Centre has released Rs 50,571.42 crore to states as part of its ‘special assistance for capital investment’ scheme to step up expenditure in various development projects during the first eight months of the current financial year, Minister of State for Finance, Pankaj Chaudhary has informed the Lok Sabha.   The minister stated in a written reply that as many as 23 of the 28 states, excluding Arunachal Pradesh, Haryana, Kerala, Punjab and Telangana, availed of the inter...
Centre has released Rs 50,571 crore to states as special assistance
Centre has released Rs 50,571 crore to states as special assistance
Source: IANS
2024-12-03 02:05:57 pm
IIT Bombay and HSBC India come together to facilitate innovative Green Hydrogen solutions Transitioning to sustainable and clean energy sources is pivotal in the global battle against climate change. Green hydrogen, with its cross-industry applications, including transportation, will play a crucial role in the global energy landscape. The IIT Bombay and HSBC India Green Hydrogen programme, aimed at accelerating the development and deployment of green hydrogen technologies, saw a large number of innovative project proposals received from 6 IITs, the National Institute of Technology...
IIT Bombay and HSBC India come together to facilitate innovative Green Hydrogen solutions
IIT Bombay and HSBC India come together to facilitate innovative Green Hydrogen solutions
Source: PR Agency
2024-12-02 03:53:48 pm
FM advocates development, cultural preservation at Credit Outreach Programme in Bihar  Union Finance Minister Nirmala Sitharaman, during the Credit Outreach Programme held in Madhubani on Saturday, emphasised the importance of development and cultural preservation and handed over copies of the Constitution's new editions in Maithili and Sanskrit.  Referring to Prime Minister Narendra Modi's vision of 'Vikas bhi, Virasat bhi (Development with Heritage)', she remarked, "Keeping that legacy in mind, on Constitution Day, PM Modi presented the Cons...
FM advocates development, cultural preservation at Credit Outreach Programme in Bihar
FM advocates development, cultural preservation at Credit Outreach Programme in Bihar
Source: IANS
2024-11-30 04:16:18 pm
FM Nirmala Sitharaman in Bihar for two-day visit to boost rural banking, financial inclusion  Union Finance Minister Nirmala Sitharaman arrived in Patna on Friday for a two-day visit with the aim to focus on boosting rural banking, entrepreneurship, and financial inclusion in the eastern region.  FM Sitharaman will assess the financial performance of eight rural banks from the eastern zone in Patna. The banks involved include representatives from Bihar (two banks), Odisha (two banks), Jharkhand (one bank), and West Bengal (three banks) who will participate in the meet...
FM Nirmala Sitharaman in Bihar for two-day visit to boost rural banking, financial inclusion
FM Nirmala Sitharaman in Bihar for two-day visit to boost rural banking, financial inclusion
Source: IANS
2024-11-29 03:45:47 pm
Indian government understands more incentives must reach people, taxes need to be cut: Jim Rogers Veteran global investor Jim Rogers on Thursday said the government under Prime Minister Narendra Modi clearly understands that more incentives should be given to people, regulations need to be brought in and taxes need to be cut in order to become a Viksit Bharat (Developed India) by 2047.  In an interaction with IANS, 82-year-old Rogers said a free and open market can help India become really successful. “The new government, for the first time, understands that you need to g...
Indian government understands more incentives must reach people, taxes need to be cut: Jim Rogers
Indian government understands more incentives must reach people, taxes need to be cut: Jim Rogers
Source: IANS
2024-11-29 09:27:25 am
Labour Ministry asks EPFO to focus on preparations to launch ELI Scheme The Labour Ministry has asked the retirement fund body Employees' Provident Fund Organization (EPFO) to focus on preparations for the launch of the Employment Linked Incentive (ELI) Scheme, with respect to the preparedness of IT infrastructure and aspects related to capacity building, among others.  Finance Minister Nirmala Sitharaman had announced in the Union Budget that the government will launch three employment-linked schemes based on enrolment in EPFO. Three schemes for ELI ...
Labour Ministry asks EPFO to focus on preparations to launch ELI Scheme
Labour Ministry asks EPFO to focus on preparations to launch ELI Scheme
Source: Accord Fintech
2024-11-27 01:35:14 pm
India should be branded as`Responsible Capitalist`nation: Nirmala Sitharaman Finance Minister Nirmala Sitharaman has called for branding India as a “Responsible Capitalist” nation, emphasizing the country’s deep understanding of the limitations of capitalism. She highlighted India’s traditional values of sustainable living and responsible consumption. She said ‘We thought of it as our responsibility to use as per our need & not as per our greed. We must understand that capitalism has its limitations & we need to brand India as a &...
India should be branded as`Responsible Capitalist`nation: Nirmala Sitharaman
India should be branded as`Responsible Capitalist`nation: Nirmala Sitharaman
Source: Accord Fintech
2024-11-25 10:17:43 am
We need Bharat Food and Drug Administration for global benchmarks: FM Nirmala Sitharaman India is setting standards in pharmaceuticals and like the US Food and Drug Administration (FDA), we should also aim to create Bharat Food and Drug Administration (FDA) for global standards and benchmarks, Union Finance Minister Nirmala Sitharaman has stressed.  Speaking at the 8th India Ideas Conclave organised by the India Foundation here, FM Sitharaman said the country must establish “brand India” as a destination of innovative solutions to modern urban needs. &ldquo...
We need Bharat Food and Drug Administration for global benchmarks: FM Nirmala Sitharaman
We need Bharat Food and Drug Administration for global benchmarks: FM Nirmala Sitharaman
Source: IANS
2024-11-23 12:13:24 pm
Trump names hedge fund investor Scott Bessent as treasury secretary pick President-elect Donald Trump has announced the name of Scott Bessent, a hedge fund investor, as his nominee for treasury secretary, one of the most important positions in his cabinet to deliver on his campaign promise of ushering in the golden age of the US.  “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,” Trump said in an announcement on Friday. “Scott has long been a strong advocate of the Americ...
Trump names hedge fund investor Scott Bessent as treasury secretary pick
Trump names hedge fund investor Scott Bessent as treasury secretary pick
Source: IANS
2024-11-23 09:46:56 am
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka  Karnataka Chief Minister Siddaramaiah met Union Minister for Finance, Nirmala Sitharaman on Thursday at her office in New Delhi and submitted a memorandum seeking to correct the lower allocation of short-term loans to the state by NABARD.  Chief Minister Siddaramaiah stated that Karnataka is making a lower allocation of ‘Short Term Agricultural Credit Limit (ST-SAO)’ at concessional rate of interest by the National Bank For Agriculture and Rural Development (NABARD) ...
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
Source: IANS
2024-11-21 04:19:47 pm
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that the banking community should view Micro, Small and Medium Enterprises (MSMEs) not merely as a sector of risk but as a sector brimming with opportunity. Sitharaman noted that cash flow-based lending has the transformative potential to address the working capital requirements of MSME units. She said India’s sound banking system, with cleaner balance sheets & adequate capital buffers and robust earnings, is well positioned to cater to t...
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman
Source: Accord Fintech
2024-11-19 10:31:07 am
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet The GST Council will hold its next meeting in Rajasthan’s Jaisalmer on December 21, during which it is likely to take a decision on exempting or lowering the GST rate on health and life insurance.  The council, chaired by Union Finance Minister Nirmala Sitharaman, may also take up the issue of rationalising GST rates on a number of goods consumed by the common man such as bottled drinking water and notebooks for students, to bring them under the 5 per cent slab from 12 per cent ...
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet
Source: IANS
2024-11-19 10:03:15 am
India`s economic growth needs more affordable interest rates, minister says  India's economic growth requires "far more affordable" bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. "At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable," the minister, Nirmala Sitharaman, said at an event in Mumbai. Last week, the nation's trade minister said the Reserve Bank of India (...
India`s economic growth needs more affordable interest rates, minister says
India`s economic growth needs more affordable interest rates, minister says
Source: Reuters
2024-11-18 06:14:53 pm
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM Russia's First Deputy Prime Minister Denis Manturov on Tuesday confirmed Moscow's intentions to conclude a Free Trade Agreement (FTA) between the Eurasian Economic Union and India -- as well as a bilateral agreement on services and investments -- while spotlighting that the volume of mutual trade between the two countries has grown more than fivefold over the past five years, including by nine per cent in the first eight months of the current year. As he co-chaired the 25th meeting...
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM
Source: IANS
2024-11-13 10:54:50 am
India`s public sector banks clocks 11 pc growth at Rs 236 lakh crore in April-Sep FY25 Public sector banks (PSBs) showed strong performance in the first half of current fiscal (FY25) with 11 per cent annual growth as their aggregate business stood at Rs 236.04 lakh crore in the April-September period, the government said on Tuesday.  Global credit and deposit portfolio grew by 12.9 per cent and 9.5 per cent (year-on-year), and stood at Rs 102.29 lakh crore and Rs 133.75 lakh crore, respectively, according to a Ministry of Finance statement. The operating and net prof...
India`s public sector banks clocks 11 pc growth at Rs 236 lakh crore in April-Sep FY25
India`s public sector banks clocks 11 pc growth at Rs 236 lakh crore in April-Sep FY25
Source: IANS
2024-11-13 10:37:30 am
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman  Finance Minister Nirmala Sitharaman said on Monday that the Asian Infrastructure Investment Bank (AIIB) should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India’s next-generation reforms.   She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB’s project design and implementation. FM...
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman
Source: IANS
2024-11-12 10:51:28 am
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM The government has set the target for all scheduled commercial banks and NBFCs for providing additional MSME credit of Rs 1.54 lakh crore in the current financial year (FY25).  The banks and NBFCs should aim at total credit growth of Rs 5.75 lakh crore, Rs. 6.21 lakh crore and Rs 7 lakh crore to MSMEs in the financial year 2024-25, 2025-26 and 2026-27 respectively, according to Finance Minister Nirmala Sitharaman. At the ‘National MSME Cluster Outreach’ programme here, ...
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM
Source: IANS
2024-11-10 10:43:35 am
Regional rural banks must empower MSMEs via flagship government schemes: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Saturday urged Regional Rural Banks (RRBs) to increase credit disbursement for MSMEs under various flagship government schemes such as MUDRA, PM Vishwakarma, etc, with the active support of their sponsor banks.  In a meeting to review the performance of 10 RRBs of the southern region here, FM Sitharaman directed RRBs to increase their share in ground-level agriculture credit disbursement with special focus on allied agriculture activities like da...
Regional rural banks must empower MSMEs via flagship government schemes: FM Nirmala Sitharaman
Regional rural banks must empower MSMEs via flagship government schemes: FM Nirmala Sitharaman
Source: IANS
2024-11-10 08:47:10 am
No MSME will be left behind in PM Narendra Modi`s government: FM Nirmala Sitharaman Indian micro, small, and medium enterprises (MSMEs) are providing 21 crore jobs while making a major contribution to the economy and exports across sectors, and no MSME will be left behind by the government, Finance Minister Nirmala Sitharaman said here on Saturday.  Addressing the ‘National MSME Cluster Outreach Programme’, the Finance Minister said that under Prime Minister Narendra Modi, no state will be left behind and the government would attend to every state. &qu...
No MSME will be left behind in PM Narendra Modi`s government: FM Nirmala Sitharaman
No MSME will be left behind in PM Narendra Modi`s government: FM Nirmala Sitharaman
Source: IANS
2024-11-10 08:39:36 am
Every rupee collected is accounted for so it doesn`t get frittered away: FM Nirmala Sitharaman The government, under Prime Minister Narendra Modi, accounts for every rupee collected so that it doesn't get frittered away and common people benefit from the work that it is doing, Union Finance Minister Nirmala Sitharaman said here on Saturday.  Addressing students at an event here, FM Sitharaman said that if you're looking at how our government has managed the money that it earns and the money that it spends, "the philosophy has been that for every rupee which is coll...
Every rupee collected is accounted for so it doesn`t get frittered away: FM Nirmala Sitharaman
Every rupee collected is accounted for so it doesn`t get frittered away: FM Nirmala Sitharaman
Source: IANS
2024-11-09 02:54:08 pm
Finance Ministry tells banks to give more loans for agri-allied activities The Finance Ministry has asked public sector banks to increase credit availability for animal husbandry, dairying, and fisheries to ensure that targets are met for the current financial year.   The progress of credit disbursement to these agri-allied activities was reviewed at a high-level meeting held by Secretary, Department of Financial Services (DFS), M. Nagaraju, according to a Finance Ministry statement issued on Wednesday. The meeting was attended by top officials of public ...
Finance Ministry tells banks to give more loans for agri-allied activities
Finance Ministry tells banks to give more loans for agri-allied activities
Source: IANS
2024-11-06 02:08:01 pm
Finance Minister chairs meeting to review various aspects of Income Tax Act 1961 with an aim to review the various aspects of the Income Tax Act 1961, Finance Minister Nirmala Sitharaman has chaired a meeting with Revenue Secretary Sanjay Malhotra, Secretary, Central Board of Direct Taxes (CBDT) chairman Ravi Agarwal, and senior CBDT officials. The finance ministry said that Malhotra informed the Finance Minister that 22 specialised sub-committees have been established to review the various aspects of the Income Tax Act to review the various aspects of the Income Tax Act....
Finance Minister chairs meeting to review various aspects of Income Tax Act 1961
Finance Minister chairs meeting to review various aspects of Income Tax Act 1961
Source: Accord Fintech
2024-11-05 10:34:53 am
Loan limit under PM Mudra Yojana raised to Rs 20 lakh from Rs 10 lakh The limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from the current Rs 10 lakh to Rs 20 lakh in keeping with the announcement by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25, a statement said on Friday.   A new ‘Tarun Plus’ category has been created under the Mudra Scheme to offer loans above Rs 10 lakh and up to Rs 20 lakh and would be available to the entrepreneurs who have availed and successfully repaid previous l...
Loan limit under PM Mudra Yojana raised to Rs 20 lakh from Rs 10 lakh
Loan limit under PM Mudra Yojana raised to Rs 20 lakh from Rs 10 lakh
Source: IANS
2024-10-25 02:41:04 pm
Jobs are most pressing global issue: FM Sitharaman in US Jobs are the most pressing global issue, given the continued economic headwinds and rapid technological changes that are redefining the skills required for youth to enter the job market, Union Finance Minister Nirmala Sitharaman has stressed.  Speaking at the plenary lunch during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington, DC, she said the World Bank has previously conducted several studies on sectoral trends and their potential impac...
Jobs are most pressing global issue: FM Sitharaman in US
Jobs are most pressing global issue: FM Sitharaman in US
Source: IANS
2024-10-25 12:18:05 pm
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said that India wants to enhance its influence in the world as one in every six persons is Indian and the world cannot ignore India's economy. Union Minister Sitharaman said that no country, whether the US which is far away or China which is very close cannot ignore India. While participating in a panel discussion on the 'Bretton Woods Institutions at 80: Priorities for the Next Decade', organised by the Centre for Global Develop...
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
Source: IANS
2024-10-24 09:27:31 am
280 companies register 1.27 lakh internship offers under Prime Minister Internship Scheme About 280 companies participated in the PM Internship Scheme (PMIS) and offered 1.27 lakh internship opportunities, according to reports.  The Centre has now closed the onboarding window for corporates’ participation in the Scheme, which opened on October 3 for corporates to register their internship offerings.  However, the window for youth registration, which commenced on October 12 is expected to remain open until early November.  The scheme was announced in t...
280 companies register 1.27 lakh internship offers under Prime Minister Internship Scheme
280 companies register 1.27 lakh internship offers under Prime Minister Internship Scheme
Source: IANS
2024-10-23 11:40:34 am
India to retain investment curbs on border nations India will retain investment curbs on bordering nations, the finance minister said, days after it struck a pact with China on patrols along their disputed Himalayan frontier, with the leaders of both countries expected to meet on Wednesday. The deal paves the way to end a four-year military stand-off and improve political and business ties between the Asian giants, strained since a deadly border clash in 2020 that slowed exchanges of capital, technology and talent. "I cannot blindl...
India to retain investment curbs on border nations
India to retain investment curbs on border nations
Source: Reuters
2024-10-23 10:59:40 am
India poised to continue sustained growth trajectory: Finance Minister Finance Minister Nirmala Sitharaman has said that India is poised to continue its sustained growth trajectory and enhance its contribution to global growth significantly. She also noted that at the current rate, India is likely to be the world's third-largest economy by 2027. While addressing the Roundtable on 'Investment Opportunities in India' at the New York Stock Exchange, Finance Minister shared the contours of various policy reforms and initiatives that are shaping India, wi...
India poised to continue sustained growth trajectory: Finance Minister
India poised to continue sustained growth trajectory: Finance Minister
Source: Accord Fintech
2024-10-22 12:43:40 pm
GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr In a significant development, the Group of Ministers (GoM) on Saturday agreed upon some Goods and Services Tax (GST) rate revisions that are likely to bring in an additional Rs 22,000 crore revenue.  The GoM, headed by Bihar Deputy Chief Minister Samrat Chaudhary, suggested raising GST rates on several luxury items, including high-end wristwatches and shoes. The GoM proposed to increase the GST rate on wristwatches priced above Rs 25,000 from 18 per cent to 28 per cent. Also, shoes...
GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr
GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr
Source: IANS
2024-10-20 09:22:15 am
GST on term life insurance premium, senior citizens likely to be exempted The Group of Ministers (GoM) on Saturday more or less decided to exempt the goods and services tax (GST) on term life insurance premiums and premiums paid by senior citizens for health cover.  The GST exemption/reduction on life and health insurance is a long-pending demand of the industry as the move would alleviate the tax burden on both insurers and policyholders.  While most of the panel members of the GoM, led by Bihar Deputy Chief Minister Samrat Chaudhary, pitched for &...
GST on term life insurance premium, senior citizens likely to be exempted
GST on term life insurance premium, senior citizens likely to be exempted
Source: IANS
2024-10-20 09:06:25 am
India needs to create 100 million jobs towards ‘Viksit Bharat’ goal: Natarajan Chandrasekaran As Indian embarks on the journey to become a developed nation, the country needs to create 100 million jobs to meet the employment needs of the growing workforce, Tata Sons Chairman, N Chandrasekaran, has stressed.  The Tata Group has also doubled down on creating more manufacturing jobs in the country, as the whole ecosystem is brimming with multiple opportunities for the Indian companies, especially 500,000 small and medium enterprises (SMEs). According to Chandrasekaran, as the ...
India needs to create 100 million jobs towards ‘Viksit Bharat’ goal: Natarajan Chandrasekaran
India needs to create 100 million jobs towards ‘Viksit Bharat’ goal: Natarajan Chandrasekaran
Source: IANS
2024-10-16 10:35:08 am
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments In a bid to showcase India’s attractiveness as an investment destination and boost bilateral trade ties, Union Finance Minister Nirmala Sitharaman is set to embark on an official visit to Mexico and the US, beginning October 16, it was announced on Tuesday.  During the first leg of her maiden visit to Mexico from October 17-20, the Finance Minister will lead an Indian delegation, underscoring a positive trajectory of growing bilateral economic and trade relations between the two...
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments
Source: IANS
2024-10-16 09:31:40 am
Over 1.55 lakh candidates sign up for PM Internship Scheme in just 24 hours  More than 1.55 lakh candidates have signed up for the newly launched PM Internship Scheme in just 24 hours, according to reports citing government sources.  The registration process for the Scheme began on Saturday, with nearly 80,000 internship opportunities across 24 sectors available on the portal. Aimed at benefiting around 10 million young people over the next five years, the scheme was announced in the Union Budget 2024 by Finance Minister Nirmala Sitharaman. It aims to...
Over 1.55 lakh candidates sign up for PM Internship Scheme in just 24 hours
Over 1.55 lakh candidates sign up for PM Internship Scheme in just 24 hours
Source: IANS
2024-10-14 11:50:11 am
Registration for PM Internship Scheme begins, over 80,000 opportunities available Aimed at benefiting around 10 million young people over the next five years, the registration process for the PM Internship Scheme began on Saturday, with nearly 80,000 internship opportunities across 24 sectors available on the portal.  The registration process for the Prime Minister Internship Scheme 2024 began at 5 p.m. The portal ensures efficient access to internships across sectors with Aadhaar-based registration and tools like bio-data generation. All eligible candidates ...
Registration for PM Internship Scheme begins, over 80,000 opportunities available
Registration for PM Internship Scheme begins, over 80,000 opportunities available
Source: IANS
2024-10-13 09:23:23 am
Ugro Capital has reached a total aum of INR 10,200+ cr milestone in Q2 FY25, growing from INR 2,970 crore in March 2022 UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announcedits robust performance for the quarter ended September 30, 2024 (Q2 FY25), marking significant milestones in its journey towards becoming a leading MSME-focused lender. The company has reached a total AUM of INR 10,200+ crore, growing from INR 2,970 crore in March 2022, underscoring its accelerated growth trajectory and investment in DataTech infrastructure. During Q2 FY25, UGRO Capital achieved several lifetime ...
Ugro Capital has reached a total aum of INR 10,200+ cr milestone in Q2 FY25, growing from INR 2,970 crore in March 2022
Ugro Capital has reached a total aum of INR 10,200+ cr milestone in Q2 FY25, growing from INR 2,970 crore in March 2022
Source: PR Agency
2024-10-11 12:51:47 pm
GST panel deliberates on lowering rate on health insurance, tractors As the government focuses on GST 2.0 which further eases tax laws, enhance tax simplification and adoption of technology, the ministerial panel tasked to rationalise rates is deliberating on lowering GST on essential items like health insurance and tractors up to 5 per cent.  As tractor segment volumes saw marginal growth (year-on-year) in September, a reduction in GST on tractors will offset the revenue loss, according to industry experts. Tractors currently attract 12-28 per cent GS...
GST panel deliberates on lowering rate on health insurance, tractors
GST panel deliberates on lowering rate on health insurance, tractors
Source: IANS
2024-10-05 09:03:54 am
Per capita income in India to increase by at least $2,000 in 5 years: FM Nirmala Sitharaman Fuelled by overall economic growth, per capita income in the country is likely to increase by at least $2,000 over the next five years, according to Finance Minister Nirmala Sitharaman on Friday.  The Finance Minister said that it took 75 years to reach a per capita income of $2,730 but the next jump is expected to happen very rapidly amid robust investments, strong fundamentals and continuity in policy reforms. Addressing the Kautilya Economic Conclave, conceived by the Ministry o...
Per capita income in India to increase by at least $2,000 in 5 years: FM Nirmala Sitharaman
Per capita income in India to increase by at least $2,000 in 5 years: FM Nirmala Sitharaman
Source: IANS
2024-10-04 12:21:24 pm
PM Narendra Modi to address Kautilya Economic Conclave on Friday Prime Minister Narendra Modi will deliver an address on Friday on the opening day of the three-day Kautilya Economic Conclave, which will feature nearly 150 Indian and international academicians and policymakers discussing issues faced by India and other countries of the Global South.  The conclave, being organised by the Institute of Economic Growth in partnership with the Ministry of Finance, will be inaugurated by Finance Minister Nirmala Sitharaman and Prime Minister Modi will par...
PM Narendra Modi to address Kautilya Economic Conclave on Friday
PM Narendra Modi to address Kautilya Economic Conclave on Friday
Source: IANS
2024-10-04 09:21:27 am
Revolutionary shift: FM Nirmala Sitharaman hails rise in credit-driven consumption in rural India Finance Minister Nirmala Sitharaman has lauded the meteoric rise in credit-driven consumption in small cities and towns, calling it a “revolutionary shift” that has been made possible due to the Pradhan Mantri Jan Dhan Yojana (PMJDY).  A definitive surge has been reported in household consumption in tier 2, 3 and 4 cities and even beyond, evidenced by the sales growth of two-wheelers, ACs, refrigerators, smartphones and FMCGs in small towns and cities. According to FM S...
Revolutionary shift: FM Nirmala Sitharaman hails rise in credit-driven consumption in rural India
Revolutionary shift: FM Nirmala Sitharaman hails rise in credit-driven consumption in rural India
Source: IANS
2024-10-02 11:36:21 am
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost Finance Minister Nirmala Sitharaman on Tuesday credited Prime Minister Narendra Modi for the recently reported remarkable surge in manufacturing jobs and wages for workers in FY 23, where they have risen by 7.6 per cent and 5.5 per cent, respectively, saying under his leadership, the sector has "not only rebounded but is now thriving".  As per the government's Annual Survey of Industries 2022-23, nationwide employment in the sector has achieved a laudable rise from 1.6 c...
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost
Source: IANS
2024-10-02 10:16:36 am