News

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
Government simplifies FDI rules to help Indian firms expand via mergers, acquisitions  The Finance Ministry on Friday issued a notification amending the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, to simplify FDI rules for enabling easier cross-border share swaps between Indian and foreign companies, as announced in the Budget 2024-25.  This will facilitate the global expansion of Indian companies through mergers, acquisitions, and other strategic initiatives, enabling them to reach new markets and grow their presence worldwide, said a Finance ...
Government simplifies FDI rules to help Indian firms expand via mergers, acquisitions
Government simplifies FDI rules to help Indian firms expand via mergers, acquisitions
Source: IANS
2024-08-17 09:08:04 am
Banks must raise more deposits, step up lending: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Saturday urged banks to raise more deposits from the public and step up lending for government schemes announced in Budget 2024-25. Addressing the media after a post-Budget meeting with the RBI’s Central Board of Directors here, the Finance Minister said that banks must focus on the core business of raising deposits and lending. She pointed out that the RBI has given enough liberty to banks to fix interest rates and they should come out with ...
Banks must raise more deposits, step up lending: FM Nirmala Sitharaman
Banks must raise more deposits, step up lending: FM Nirmala Sitharaman
Source: IANS
2024-08-10 03:17:03 pm
Mines ministry working on rolling out of Critical Mineral Mission this year: Mines Secretary Mines Secretary V L Kantha Rao has said that the mines ministry is working on rolling out the Critical Mineral Mission this year. He noted that Union Budget 2024-25 has proposed launching Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. He said its mandate will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism. The secretary s...
Mines ministry working on rolling out of Critical Mineral Mission this year: Mines Secretary
Mines ministry working on rolling out of Critical Mineral Mission this year: Mines Secretary
Source: Accord Fintech
2024-08-08 11:22:41 am
Taxpayers can choose between old and new LTCG regime: FM Nirmala Sitharaman Finance Minister Nirmala Sithraman said in the Parliament on Wednesday that the primary aim of the Union Budget for 2024-25 is to simplify the tax regime and ensure equitable treatment of all asset classes, as she confirmed the relaxation of the real estate indexation rules.  Referring to the amendment to the long-term capital gains (LTCG) regime proposed on Tuesday, the Finance Minister said, “The new tax regime is simpler and gives more flexibility to the taxpayer. The old reg...
Taxpayers can choose between old and new LTCG regime: FM Nirmala Sitharaman
Taxpayers can choose between old and new LTCG regime: FM Nirmala Sitharaman
Source: IANS
2024-08-08 09:03:11 am
Mansukh Mandaviya tells officials to speed up job-linked incentive scheme The Union Minister of Labour & Employment, Dr Mansukh Mandaviya, on Tuesday directed senior officials to expeditiously implement the Employment-Linked Incentive (ELI) Scheme announced in Union Budget 2024-25 to bolster employment generation “in a mission mode.”  The minister asked the officers to carry out an extensive outreach and awareness campaign to educate people, especially the intended beneficiaries, about the benefits of the ELI Scheme. Dr. Mandaviya emphasi...
Mansukh Mandaviya tells officials to speed up job-linked incentive scheme
Mansukh Mandaviya tells officials to speed up job-linked incentive scheme
Source: IANS
2024-08-07 09:17:37 am
India expected to clock 7.2 pc GDP growth in 2024-25 India's economy is expected to clock a 7 to 7.2 per cent growth rate in 2024-25 supported by a rebounding rural economy, strong manufacturing growth, robust bank balance sheets, and increased exports, according to financial advisory firm Deloitte.  The August update of Deloitte's India Economic Outlook said several initiatives in the Union Budget 2024-25 toward improving agriculture productivity, creating jobs for the youth, and manufacturing would help improve supply-side dem...
India expected to clock 7.2 pc GDP growth in 2024-25
India expected to clock 7.2 pc GDP growth in 2024-25
Source: IANS
2024-08-06 12:13:27 pm
Indian startups raised over $1 billion funding in July Indian startups successfully raised $1.03 billion in July as the government abolished angel tax in the Union Budget 2024-25 which was levied on foreign investors, according to a report on Saturday.  As per the report by Entrackr, in July, Indian startups raised a total funding of $1.03 billion under 126 deals.  Out of these, 28 were growth or late-stage deals worth $725 million, whereas 72 were in the initial-stage deals worth $311 million.  The amount raised in 26 dea...
Indian startups raised over $1 billion funding in July
Indian startups raised over $1 billion funding in July
Source: IANS
2024-08-04 09:00:28 am
Area sown under kharif crops grows by 3 pc in current season India has recorded a 3 per cent increase in the area sown under Kharif crops to 904.60 lakh hectares so far this year, compared to 879.22 lakh hectares in the same period last year, according to the latest data compiled by Ministry of Agriculture. The area under key crops including paddy, pulses, oilseeds, millets, and sugarcane has gone up this year due to better monsoon rains which have facilitated the sowing in unirrigated areas of the country. The agriculture sector is expected to g...
Area sown under kharif crops grows by 3 pc in current season
Area sown under kharif crops grows by 3 pc in current season
Source: IANS
2024-08-03 02:01:12 pm
India on track to achieve target of 4.5 pc fiscal deficit by FY26: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Wednesday said that the government is well on track to achieve the target of 4.5 per cent fiscal deficit by 2025-26.  In her reply to the debate on the Union Budget in the Rajya Sabha, FM Sitharaman said that from 2026-27 onwards, “We will adhere to a path to ensure that the central government debt as a percentage of GDP is at a declining trend.” “The government has always maintained fiscal prudence as one of the import...
India on track to achieve target of 4.5 pc fiscal deficit by FY26: FM Nirmala Sitharaman
India on track to achieve target of 4.5 pc fiscal deficit by FY26: FM Nirmala Sitharaman
Source: IANS
2024-07-31 05:17:00 pm
Government garners Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23 The government has garnered Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year. Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23. The long term capital gains on equities and units of equity oriented mutual funds were brought in from April 2018. Such gains were taxed at 10 per cent, with gains of up to Rs 1 lakh annually b...
Government garners Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23
Government garners Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23
Source: Accord Fintech
2024-07-31 11:48:00 am
Over 20 lakh active vacancies available on NCS portal: Centre Bridging the gap between job seekers and employment opportunities across diverse sectors, the Central government's National Career Service (NCS) portal has surpassed 20 lakh active vacancies.  The current job opportunities available on the NCS Portal span several sectors, including finance and insurance (14.7 lakh), operations and support (1.08 lakh) and other service activities (0.75 lakh), informed the government The jobs available also include manufacturing (0.71 lakh), tran...
Over 20 lakh active vacancies available on NCS portal: Centre
Over 20 lakh active vacancies available on NCS portal: Centre
Source: IANS
2024-07-31 10:52:53 am
FM Nirmala Sitharaman pins down Oppn on allocation of funds to states Finance Minister Nirmala Sitharman on Tuesday put the opposition on the mat for alleging that Budget 2024-25 had not made any allocation to states as their names were not mentioned in her speech on July 23. The Finance Minister cited budget speeches of the Congress-led UPA government which in some years had not mentioned as many 26 states by name. In the other years of the UPA rule, she cited that 12 to 20 states were not mentioned in budget speeches. "Does this mean that the UPA g...
FM Nirmala Sitharaman pins down Oppn on allocation of funds to states
FM Nirmala Sitharaman pins down Oppn on allocation of funds to states
Source: IANS
2024-07-31 09:55:37 am
JP Nadda hails 'visionary' Budget, says it's based on four pillar of 'GYAN' Speaking in the Rajya Sabha on Tuesday, Leader of the House J.P. Nadda hailed the Union Budget 2024-25 presented by Nirmala Sitharaman on July 23 as "inclusive, sustainable, and economically resilient".  He also said that the focus of the Budget -- the first in the third term of the government led by Prime Minister Narendra Modi -- was on the four pillars of 'GYAN' -- Gareeb (poor), Youth, Anndata (farmers), and Naari Shakti (women's empowerment). He also cong...
JP Nadda hails 'visionary' Budget, says it's based on four pillar of 'GYAN'
JP Nadda hails 'visionary' Budget, says it's based on four pillar of 'GYAN'
Source: IANS
2024-07-31 09:49:28 am
Centre collected Rs 98,681 cr from LTCG tax in FY23, not to abolish tax on equities or MFs in FY25 The Centre on Tuesday informed that it collected nearly Rs 98,681 crore from long-term capital gains (LTCG) tax in FY23, a nearly 15 per cent growth from Rs 86,075 crore in FY22.  Minister of State for Finance, Pankaj Chaudhary, gave the details of LTCG collections between fiscal 2018-19 and 2022-23 in reply to a question in the Rajya Sabha. The minister also informed that there is no proposal to abolish the LTCG tax on equities or mutual funds during FY2024-25. The Union Budget...
Centre collected Rs 98,681 cr from LTCG tax in FY23, not to abolish tax on equities or MFs in FY25
Centre collected Rs 98,681 cr from LTCG tax in FY23, not to abolish tax on equities or MFs in FY25
Source: IANS
2024-07-31 09:42:05 am
India will emerge as a global player in sunrise sectors: PM Narendra Modi Prime Minister Narendra Modi on Tuesday said that as India is headed to become the third largest economy soon, he was confident that the country will emerge as a global player in the sunrise sectors such as semiconductors, electronics manufacturing and green energy.  Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ at the Vigyan Bhavan here, PM Modi said new opportunities are emerging in sunrise sectors and India I...
India will emerge as a global player in sunrise sectors: PM Narendra Modi
India will emerge as a global player in sunrise sectors: PM Narendra Modi
Source: IANS
2024-07-30 02:47:04 pm
Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs The Centre on Monday said that recognised startups have reported to have generated more than 15.5 lakh direct jobs to date, as it detailed various initiatives taken by ministries and departments to help create even more jobs and nurture young entrepreneurs in years to come.  The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1,40,803 entities as startups (as of June 30), said Minister of State (Independent Charge) for Skill Development and Entrepreneurs...
Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs
Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs
Source: IANS
2024-07-29 04:19:50 pm
PM Narendra Modi to address Captains of Indian industry on Journey Towards Viksit Bharat Prime Minister Narendra Modi will address the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ at Vigyan Bhawan, in the national Capital on Tuesday (July 30), according to a PMO statement issued on Monday.  The conference is being organised by the Confederation of Indian Industry (CII) and is aimed at presenting the outline for the government’s larger vision for growth and the industry’s role in this endeavour. Mor...
PM Narendra Modi to address Captains of Indian industry on Journey Towards Viksit Bharat
PM Narendra Modi to address Captains of Indian industry on Journey Towards Viksit Bharat
Source: IANS
2024-07-29 02:03:46 pm
Aditya Birla Group’s foray into jewellery biz rides on rising incomes, bumper wedding market: Experts As the Aditya Birla Group forays into branded jewellery business with an investment of Rs 5,000 crore, industry experts on Saturday said the shift towards consumers purchasing from branded retailers and upgrading to studded products will help the company cement its position in a massive over Rs 6.4 lakh crore domestic jewellery market.  The branded jewellery players ride on the huge wedding market which reached Rs 10 lakh crore in the last fiscal (FY24) in the country. Keeping the ...
Aditya Birla Group’s foray into jewellery biz rides on rising incomes, bumper wedding market: Experts
Aditya Birla Group’s foray into jewellery biz rides on rising incomes, bumper wedding market: Experts
Source: IANS
2024-07-27 04:46:14 pm
FPIs pump in Rs 52,910 crore as Budget aims to foster stable investment environment The foreign portfolio investor (FPI) community, which is set to play a major role in positioning India as the third largest economy in the world, has pumped in nearly 52,910 crore in equity and debt this month (till July 26). FPIs were consistent buyers as the Union Budget 2024-2025 focused on fostering a stable and mature equity investment environment. Market experts, citing the data by National Securities Depository Limited (NSDL), said that FPIs have invested Rs 33,688 crore in equit...
FPIs pump in Rs 52,910 crore as Budget aims to foster stable investment environment
FPIs pump in Rs 52,910 crore as Budget aims to foster stable investment environment
Source: IANS
2024-07-27 12:54:34 pm
PrimeMinister Narendra Modi shares ‘Budget 2024 Blueprint’ for a skilled and Viksit Bharat Prime Minister Narendra Modi on Friday shared ‘Budget 2024 Blueprint’ on NaMo App that aims to explain various government announcements, schemes and new initiatives around job creation and skilling in a simpler way.  PM Modi said in a post on X social media platform that Budget 2024 aims to create jobs with new Employment Linked Incentive schemes, build a stronger workforce, and enable job creators. “Through skilling initiatives, in-house education promotion, and ...
PrimeMinister Narendra Modi shares ‘Budget 2024 Blueprint’ for a skilled and Viksit Bharat
PrimeMinister Narendra Modi shares ‘Budget 2024 Blueprint’ for a skilled and Viksit Bharat
Source: IANS
2024-07-27 09:57:32 am
All states have got funds in Union Budget as in the past: FM Nirmala Sitharaman Finance Minister Nirmala Sitharman said on Friday that just like in the past, all states have been allocated funds in the Union Budget 2024-25, and no state has been denied anything.  In an exclusive interview with Sanjay Pugalia, CEO and Editor-in-Chief of NDTV Network, the Finance Minister rejected the opposition’s claim that her Budget speech mentioned only two states -- Andhra Pradesh and Bihar, both ruled by the BJP's key allies.  She pointed out that the Centre...
All states have got funds in Union Budget as in the past: FM Nirmala Sitharaman
All states have got funds in Union Budget as in the past: FM Nirmala Sitharaman
Source: IANS
2024-07-27 09:44:22 am
India Strategy : Union Budget 2024-25 by Yes Securities Ltd Fiscal Prudence Dovetails Tax Reforms Despite the setback for equity investors due to changes in capital gains tax, the Union Budget 2025 is balanced and consistent in policy, while also paving the way for ongoing reforms in the tax regime. Addressing concerns about populism, the fiscal deficit target of 4.9% underscores a strong commitment to fiscal responsibility. The government has introduced various schemes to support the poor, women, youth employment, and farmers, yet the overall budg...
India Strategy : Union Budget 2024-25 by Yes Securities Ltd
India Strategy : Union Budget 2024-25 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-07-26 05:31:26 pm
India sees uptick in manufacturing sentiments, domestic demand in April-June As the Union Budget 2024-2025 gives special attention to labour-intensive manufacturing, a new survey said on Friday that manufacturing sentiments in the country have shown an improvement in the April-June quarter.  According to FICCI’s ‘Quarterly Survey on Manufacturing,’ nearly 78 per cent of respondents in the Q1 FY25 expect either higher or unchanged production levels, compared to the same period last year. It also highlighted optimism in domestic demand condi...
India sees uptick in manufacturing sentiments, domestic demand in April-June
India sees uptick in manufacturing sentiments, domestic demand in April-June
Source: IANS
2024-07-26 04:37:53 pm
iPhone exports from India touch new all-time high in April-June quarter In yet another success story of India’s local manufacturing push, iPhone maker Apple has achieved record exports numbers in the April-June quarter in the country, reaching around $3.8 billion.   Riding on the government’s production-linked incentive (PLI) scheme, Apple reached a new all-time high in the Q1 FY25, according to industry data, as manufacturers continue to look at the ‘China + 1 business strategy’ to avoid investing only in the neighbouring country ...
iPhone exports from India touch new all-time high in April-June quarter
iPhone exports from India touch new all-time high in April-June quarter
Source: IANS
2024-07-26 01:48:27 pm
New simplified Income Tax law to be put out for stakeholder consultation soon The government is working towards a comprehensive review of the Income Tax Act, and the first draft which will be prepared by an internal committee of the tax department will be put out for stakeholder consultation within the next 6 months, Revenue Secretary Sanjay Malhotra said on Thursday.  Addressing FICCI’s interactive session on Union Budget 2024-25, he said: "We will have a consultation process on the first draft and how it will happen, that we will decide. We would l...
New simplified Income Tax law to be put out for stakeholder consultation soon
New simplified Income Tax law to be put out for stakeholder consultation soon
Source: IANS
2024-07-26 09:07:04 am
Centre's fiscal consolidation plan will boost India's credit profile: Global agencies Global credit agencies said the government’s plan for fiscal consolidation would positively impact India's credit profile.  In the Union Budget 2024-24, the government set the fiscal deficit target at 4.9 per cent of the GDP for FY25, lower than the 5.1 per cent announced in the Interim Budget. Global credit agencies like Moody's, Fitch Ratings, and S&P Global Ratings have given thumbs up to the Union Budget. Moody's Ratings said, "Policy continuit...
Centre's fiscal consolidation plan will boost India's credit profile: Global agencies
Centre's fiscal consolidation plan will boost India's credit profile: Global agencies
Source: IANS
2024-07-25 05:53:32 pm
Quote on Budget by Pankaj Singh, smallcase Manager and Founder & Principal Researcher at Smartwealth.ai Below the Quote on Budget by Pankaj Singh, smallcase Manager and Founder & Principal Researcher at Smartwealth.ai      “Budget 2024: A Look at What Matters for Your Business and Wallet The Union Budget 2024 brings ambitious growth targets and a focus on social welfare. Let's see how it impacts businesses and individuals: Accelerating Economic Growth & Skilling • The government aims for a 10.5% GDP growth, indicating a positive econo...
Quote on Budget by Pankaj Singh, smallcase Manager and Founder & Principal Researcher at Smartwealth.ai
Quote on Budget by Pankaj Singh, smallcase Manager and Founder & Principal Researcher at Smartwealth.ai
Source: PR Agency
2024-07-25 05:31:46 pm
Telangana presents Rs 2.91 lakh crore Budget with focus on guarantees Telangana Deputy Chief Minister Mallu Bhatti Vikramarka, who also holds the Finance portfolio, on Thursday presented the state Budget of Rs 2.91 lakh crore for 2024-25, with focus on welfare and fulfilling the six guarantees of the Congress government.  Presenting the first full Budget of the Congress government in the state Assembly, Vikramarka pegged the revenue and capital expenditure at Rs 2.20 lakh crore and Rs 33,487 crore, respectively. “The total expenditure proposed ...
Telangana presents Rs 2.91 lakh crore Budget with focus on guarantees
Telangana presents Rs 2.91 lakh crore Budget with focus on guarantees
Source: IANS
2024-07-25 05:30:54 pm
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced FY2025 union budget: Prudent and balanced The FY2025 union budget delivered a prudent balance between capital expenditure, fiscal prudence and welfarism. The government continued with its focus on spending in core infrastructure areas, while expenditure on certain social welfare schemes was under control. The budget did minor tinkering on tax rates for individuals, while capital gains taxes were rationalized across asset classes. Central GFD/GDP of 4.9% highlights sharper focus on conso...
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced
Source: Kotak Institutional Equities
2024-07-25 01:53:12 pm
Government`s sustained infrastructure focus likely to support cement demand in India: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has showed that India’s cement demand is likely to be supported by the government’s sustained focus on capex towards infrastructure projects in the budget of FY25, albeit at a moderated pace of growth of 5%-7% YoY (FY24: 8%-9%) as expected by the agency. The rating agency noted that the capex spending at Rs 11.1 trillion in the Union Budget FY25 is same as was in the interim budget FY25. However, it ...
Government`s sustained infrastructure focus likely to support cement demand in India: Ind-Ra
Government`s sustained infrastructure focus likely to support cement demand in India: Ind-Ra
Source: Accord Fintech
2024-07-25 01:37:56 pm
Early cancer detection startup Navaux gets new funding US-based cancer detection startup Navaux on Thursday announced receiving fresh funding, which it said, will play a "pivotal role" in entering the Indian market.  The life science company secured an undisclosed investment from angel investor Karna D. Shinde. This comes as India is rapidly emerging as a hub for health-tech innovations, a trend highlighted by Finance Minister Nirmala Sitharaman's recent announcement in the Union Budget 2024-25, which offers relief to can...
Early cancer detection startup Navaux gets new funding
Early cancer detection startup Navaux gets new funding
Source: IANS
2024-07-25 12:36:21 pm
CBDT explains taxation of capital gains The Central Board of Direct Taxes (CBDT) on Thursday issued FAQs to explain the new capital gains tax regime in Budget 2024-25.   Q: What are the major changes brought about in the taxation of capital gains by the Union Budget 2024-25? A: The taxation of capital gains has been rationalised and simplified. The five broad parameters to this rationalisation and simplification are: Holding period has been simplified. There are only two holding periods now, viz. one year and two years. ...
CBDT explains taxation of capital gains
CBDT explains taxation of capital gains
Source: IANS
2024-07-25 11:53:13 am
New capital gains regime to simplify tax system: CBDT Chairman The Reserve Bank of India may allow the rupee to weaken slightly to unwind the slightly elevated real effective exchange rate and keep the South Asian currency "competitive," BofA Securities said in a note on Thursday. "It supports the government's ambitions for attracting large-scale manufacturing investments," the Wall Street firm said, adding it expects the rupee to decline to 84 to the U.S. dollar by the end of the year. The rupee was quoting at 83.7075 as of...
New capital gains regime to simplify tax system: CBDT Chairman
New capital gains regime to simplify tax system: CBDT Chairman
Source: IANS
2024-07-25 11:37:23 am
Union Budget 2024-25 by Nirmal Bang Ltd * Fiscal Consolidation seems to be the key priority in the final budget * Majority of Additional surplus received from RBI is used to reduce fiscal deficit * Special investment package to Bihar and Andhra Pradesh * Most of the centrally sponsored scheme allocation remain same as interim Budget * Allocation for Capital Expenditure also remain same as interim Budget and increased by 17% from last year * Allocation for Rail, Defense, and Road also remain same as interim budget ...
Union Budget 2024-25 by Nirmal Bang Ltd
Union Budget 2024-25 by Nirmal Bang Ltd
Source: Nirmal Bang Ltd
2024-07-25 11:28:41 am
Indexation removal on real estate won't hike tax burden, has limited impact Amid the growing chatter over the removal of indexation benefit in the long-term capital gain (LTCG) calculation, Finance Minister Nirmala Sitharaman has reiterated that the move is not a “revenue-raising measure” and will not lead to a higher tax burden on real estate transactions.  According to the Finance Ministry, the new LTCG regime will benefit taxpayers in “almost all cases” through substantial tax savings. The Union Budget 2024 has announced a reduct...
Indexation removal on real estate won't hike tax burden, has limited impact
Indexation removal on real estate won't hike tax burden, has limited impact
Source: IANS
2024-07-25 11:07:50 am
Union Budget 2024-25 by Sushil Finance Services Budget 2024: Quest for Viksit Bharat  Ø FM Nirmala Sitharaman presented her 7th consecutive budget creating a history of continuity. The NDA 3.0 Government had a difficult choice of balancing the needs of the coalition partners, and maintaining fiscal discipline. Ø Budget 2024-25 glided back to a fiscal discipline path by containing fiscal deficit for current year to 4.90%, and reducing it gradually over medium term. Ø Budget 2024-25...
Union Budget 2024-25 by Sushil Finance Services
Union Budget 2024-25 by Sushil Finance Services
Source: Sushil Financial Services
2024-07-25 10:55:20 am
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund Key Highlights of the Union Budget 2024 Key focus on employment, skilling, MSME and middle class. An allocation of Rs.1.48 lakh crore for education, employment and skill development was announced 9 Priorities of the budget: Agriculture, Employment and Skilling, Human Resource Development, Manufacturing, MSMEs, Urban Development, Energy Security, Infrastructure, Innovation Andhra Pradesh Reorganization Act: Special financial suppo through multilateral development agencies of Rs. 15,0...
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund
Source: Tata Mutual Fund
2024-07-25 10:48:12 am
Comment on Review of Income Tax Act by Mihir Tanna, Associate Director - Direct Tax at SK Patodia & Associates LLP Below the Comment on Review of Income Tax Act by Mihir Tanna, Associate Director - Direct Tax at SK Patodia & Associates LLP   Finance Minister Nirmala Sitharaman presented her record 7th consecutive Union Budget 2024-25 today (on July 23) of Modi 3.0 Gov. From a direct tax perspective, unexpectedly some good things are proposed in the said budget. One of the key announcements was related to the review of the Income tax act. There are certain provisions in the income tax a...
Comment on Review of Income Tax Act by Mihir Tanna, Associate Director - Direct Tax at SK Patodia & Associates LLP
Comment on Review of Income Tax Act by Mihir Tanna, Associate Director - Direct Tax at SK Patodia & Associates LLP
Source: PR Agency
2024-07-25 10:39:16 am
Quote on Budget by Suman Bannerjee, CIO, Hedonova Below the Quote on Budget  by Suman Bannerjee, CIO, Hedonova   The Union Budget 2024, while aiming to balance growth and equity, presents a complex mix of policies with varied impacts. The revised income tax slabs, offering relief for the middle class, are countered by significant changes in capital gains taxation. Short-term capital gains tax has been increased to 20%, and long-term capital gains tax is now 12.5% for specific assets, potentially discouraging investment. Addit...
Quote on Budget by Suman Bannerjee, CIO, Hedonova
Quote on Budget by Suman Bannerjee, CIO, Hedonova
Source: Hedonova
2024-07-25 10:30:15 am
Union Budget 2024 Input on Annual Returns by Siddharth Tandon, Partner, Indirect Tax, BDO India Below the Union Budget 2024 Input on Annual Returns Siddharth Tandon, Partner, Indirect Tax, BDO India    “In line with the 53rd GST Council meeting recommendations, the limitation period for raising demands has been made 3.5 years (42 months) from the due date of relevant annual return for all types of cases, instead of 3/5 years earlier, depending on whether fraud suppression has been alleged or not. This is targeted to streamline litigation matters for FY 2024-25...
Union Budget 2024 Input on Annual Returns by Siddharth Tandon, Partner, Indirect Tax, BDO India
Union Budget 2024 Input on Annual Returns by Siddharth Tandon, Partner, Indirect Tax, BDO India
Source: BDO India
2024-07-25 10:15:34 am
Rs 10,376 cr allocated for railway projects under NFR by Union Budget Railway Minister Ashwini Vaishnaw said on Wednesday that Union Budget 2024-25 allocated Rs 10,376 crore for railway projects in the northeastern states, which is about five times higher than the average allocation of Rs 2,122 crore made during 2009-14.  During a virtual interaction with mediapersons from the northeast, the Railway Minister said the Gross Budget Allocation for the Northeast Frontier Railway (NFR) is Rs 14,183.69 crore for FY 2024-25. During the interaction, NFR Gene...
Rs 10,376 cr allocated for railway projects under NFR by Union Budget
Rs 10,376 cr allocated for railway projects under NFR by Union Budget
Source: IANS
2024-07-25 10:14:03 am
Union Budget 2024 Input on Taxation Sector by Rony Antony, Partner & Leader, Corporate Tax (South), Tax & Regulatory Services, BDO India Below the Union Budget 2024 Input on Taxation Sector by Rony Antony, Partner & Leader, Corporate Tax (South), Tax & Regulatory Services, BDO India   The possible introduction of Vivad se Vishwas Scheme 2024 could significantly reduce litigation and create a better visibility of India as a tax friendly jurisdiction. The enhancements proposed for litigation at higher forums could also significantly reduce litigation at lower levels.     Above views are o...
Union Budget 2024 Input on Taxation Sector by Rony Antony, Partner & Leader, Corporate Tax (South), Tax & Regulatory Services, BDO India
Union Budget 2024 Input on Taxation Sector by Rony Antony, Partner & Leader, Corporate Tax (South), Tax & Regulatory Services, BDO India
Source: BDO India
2024-07-25 10:11:35 am
Union Budget 2024 Input on Financial Sector by Jiger Saiya, Partner, MSKA & Associates - a member firm of BDO International Below the Union Budget 2024 Input on Financial Sector by Jiger Saiya, Partner, MSKA & Associates - a member firm of BDO International   The FM announced releasing a vision document for the Financial Sector. To foster a dynamic and inclusive financial ecosystem in India, the vision document should prioritize a balanced approach between regulatory agility to address risks and encouraging technological advancements that empower innovation, financial inclusion, and robust cons...
Union Budget 2024 Input on Financial Sector by Jiger Saiya, Partner, MSKA & Associates - a member firm of BDO International
Union Budget 2024 Input on Financial Sector by Jiger Saiya, Partner, MSKA & Associates - a member firm of BDO International
Source: BDO International
2024-07-25 10:04:37 am
Union Budget 2024 Input on Reinsurance by Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India Below the Union Budget 2024 Input on Reinsurance by Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India   “The FM has proposed a reduction in tax rates for foreign companies operating in India from 40% to 35%. This is a much-awaited change for the reinsurance companies operating through a branch office in India since 2017. The proposed change may not provide a level-playing field to the reinsurance branches with the domes...
Union Budget 2024 Input on Reinsurance by Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India
Union Budget 2024 Input on Reinsurance by Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India
Source: BDO India
2024-07-25 09:57:10 am
Reaction on Post-Budget by Mr Vijay Jain, Managing Director, Star Estate Below the Post-Budget Reaction on Mr Vijay Jain, Managing Director, Star Estate    "We applaud the Union Budget 2024-25 for its thorough strategy towards boosting affordable housing with a Rs 2.2 lakh crore allocation under the PM Awas Yojana-Urban. Another major advancement for the real estate segment to look at in the budget is the investment of Rs 10 lakh crore towards addressing the housing needs of one crore poor and middle-class families. This move demonstrates a st...
Reaction on Post-Budget by Mr Vijay Jain, Managing Director, Star Estate
Reaction on Post-Budget by Mr Vijay Jain, Managing Director, Star Estate
Source: PR Agency
2024-07-25 09:56:25 am
SEBI study warns against intra-day trading risks in equity cash as young traders rise The share of young intra-day traders (age less than 30 years) grew 48 per cent in FY2022-23 as compared to 18 per cent in FY2018-19, a study by markets regulator Securities and Exchange Board of India (SEBI) said on Wednesday, warning against the risks involved with intra-day trading in equity cash segment.  Around one in three individuals who trade in the equity cash segment, now trades intraday. The study also noted a surge of over 300 per cent in the number of individuals participa...
SEBI study warns against intra-day trading risks in equity cash as young traders rise
SEBI study warns against intra-day trading risks in equity cash as young traders rise
Source: IANS
2024-07-25 09:54:19 am
Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India Below the Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India   “Angel tax has been a bone of litigation for many companies especially new age ones.  The FM has abolished this tax with effect from this financial year. While the past period litigations could continue, however, with the abolishment of the Angel tax provisions,  India Inc is likely to get a sigh of relief from this provision. This proposed ...
Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India
Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India
Source: BDO India
2024-07-25 09:46:57 am