Page 1955 - Economy & Policy News

Budget 2020: Allocation for MoHUA rises nearly 18% to Rs 50,000 cr

Another flagship programme, the Smart Cities Mission has been given Rs 6,450 crore as against Rs 3,450 crore.

Union Budget had nothing for Mumbai's overcrowded local trains: Activists

They pointed out that the Mumbai suburban network did not even get a mention in the Budget speech whereas there was an announcement about the Rs 18,600-crore Bengaluru suburban transport project

Govt bets on solar panels along rail tracks, barren land to raise capacity

India has set a target to raise renewable energy capacity to 175 gigawatts by 2022

Budget: Govt proposes credit guarantee on debt in crisis-hit NBFCs, HFCs

The IL&FS crisis following debt defaults in 2018 had led to a contagion in the domestic NBFCs sector, followed by DHFL defaults.

Naveen Patnaik critiques Budget 2020, frets over shrinking central tax pool

Counting the positives, he welcomed initiatives such as Krishi Rail and Krishi Udan

Budget 2020: Non-taxpaying NRIs to be taxed in India, says FM

At present, if an Indian or a person of Indian origin managed his stay in India such that he remained a non-resident in perpetuity, he was not liable to pay tax on his global income in India.

Budget consistent with fiscal strategy; aimed at boosting demand

The fiscal multiplied impact of higher government consumption spending is coupled with signal to household sector to spend more

LIC may become biggest firm by m-cap; valuation can hit Rs 10 trn: Experts

Finance Minister Nirmala Sitharaman on Saturday said LIC will be listed as part of the government disinvestment initiative

Budget 2020: Sourcing via FDI, ECB could boost research infra in education

FM has allocated Rs 99,300 cr for education sector in FY21 and Rs 3,000 cr for skill development

Budget lacks immediate measures to revive ailing sector: Auto industry

The industry however lauded the government's initiative to increase customs duty on imported electric vehicles

Govt dropped initial plan on GSTAT set-up, proposal flagged, shows RTI

Madras High Court had later declared bench composition unconstitutional due to non-inclusion of even a single judicial member; no appeal filed yet

Budget 2020: Allocation for Environment Ministry up 5% to Rs 3,100 crore

Budget for pollution abatement, which was cut by 50 per cent last year from 2018-19, remained unchanged at Rs 10 crore.

Budget 2020: 'Vivad se Vishwas' scheme to cut down direct tax litigation

Under the proposed scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by March 31, 2020.

Taxpayers opting for new tax slabs to forego deductions on PF, tuition fee

As per the Budget document, an individual taxpayer opting for the new tax regime will not be entitled for deduction under 80C of the Income Tax.

LIC will be IPO of the decade, akin to Saudi Aramco listing: Experts

Currently, the government owns the entire 100 per cent stake in LIC.

Budget 2020: Govt to set up price stabilization fund to rein in inflation

The consumer price index-based retail inflation spiked to over five-year high of 7.35 per cent in December 2019.

Budget 2020: Govt to encourage ECBs, FDI in education for financing infra

Setting up a National Police University and a National Forensic Science University, linking medical colleges to a district hospital through the PPP mode, are some proposals made in the budget

Budget: International bullion exchange to be set up at IFSC in GIFT City

IFSC has the potential to become a centre of international finance and high end data processing, the Finance Minister said during her speech

Budget proposal allowing NBFC invoice financing will help MSMEs: Trade body

MSME Export Promotion Council Chairman D S Rawat said government should make it applicable to all units operating from conforming as well as non-conforming areas

Real estate slowdown: Survey suggests haircut; developers dub it unfeasible

Lack of available land in urban centres, the rising cost of construction, and higher fees and taxes are key hindrances