LIVE: Govt gives FPI relief, makes loans cheaper, revs up auto sector

FM Nirmala Sitharaman is expected to announce steps to revive India's economic growth. Catch all LIVE updates here

6:12 PM

Sops for auto industry

Higher vehicle registration fee deferred till June 2020. Govt departments will be "actively told" to replace their old vehicles. Ban on govt departments goes: FM Sitharaman

6:04 PM

Aadhar-based KYC for demat accounts

Aadhar-based KYC to be permitted for opening of demat accounts and investing in mutual funds: FM Sitharaman. 

6:01 PM

MSME definition

Laws to be amended to ensure one MSME definition: FM Sitharaman

 

5:55 PM

NBFCs can use Aadhaar

Extra Rs 20,000 crore for HFCs from NHB; NBFCs can now use Aadhaar-linked KYC: FM Sitharaman

 

5:48 PM

Bank loans cheaper, easier

Banks to make home, auto loans cheaper, says Finance Minister Sitharman.  Banks to ensure mandated return of loan documents to customers within 15 days of loan closure. It wil benefit customers who have mortgaged assets.

5:45 PM

Bank loans

Banks have decided to launch an external benchmark-linked loan products. This will result in reduced EMI for housing loans, vehicles and other retail loans

5:44 PM

Angel Tax dropped

FM says govt to withdraw 'Angel Tax' provisions for start-ups and investors

5:44 PM

Surcharge goes

FM says govt has decided to withdraw surcharge on long and short term capital gains. 

 

5:39 PM

Notice to tax assesses

All notices to tax assesses to be replied to within 3 months from October 1: FM Sitharaman

5:35 PM

5:35 PM

CSR violations

There is no intention of the government to go on the prosecution route. CSR matters will be treated as civil liablity: FM Sitharaman.

5:31 PM

Respect for wealth creators

Respect for wealth creators was spirit of budget for FY20; consultations with different sectors to understand their needs thereafter: FM Sitharaman

 

5:31 PM

India's growth higher

India's growth rate higher in comparison with many countries: FM Sitharaman

5:27 PM

Global GDP growth may be revised

Global GDP growth may be revised downwards from current estimate of 3.2%; global demand going to be weak: Nirmala Sitharaman

 

5:25 PM

Momentum on reforms

The government has not lost the momentum on reforms: Nirmala Sitharaman

5:23 PM

Global GDP growth at 3.2%

Global GDP growth at 3.2  per cent this year, may be revised down, says Nirmala Sitharaman

5:23 PM

'Volatile situation'

There is a 'very volatile situation in international trade' because of US, China trade war and other factors: Nirmala Sitharaman.

5:20 PM

Presentation on economy

Finance Secretary to present 32 slides on the economy: Nirmala Sitharaman

5:18 PM

Press briefing begins

Nirmala Sitharaman flanked by finance ministry officials and junior finance minister Anurag Thakur as she readies to brief the media in Delhi

5:00 PM

Govt may exempt FPIs from super-rich tax

The government may soon roll back an additional levy on foreign funds and announce other measures to boost economic growth, Bloomberg reported while quoting a government official.

4:56 PM

Speed on business decisions needed: Adi Godrej

"The speed of decision-making is very good for example in Kashmir, but the speed of decision-making on business matters is not good," said Adi Godrej, chairman of the Godrej Group, according to a Bloomberg report on Friday.