Page 20 - Budget 2020

Budget 2020: Tobacco, imported products, furniture, footwear to cost more

A large number of items including cigarettes, chewing tobacco along with imported products, like edible oils, fans, table, footwear, electric vehicles, tableware, kitchenware, toys and furniture are set to become more expensive due to hike in taxes proposed in the Union Budget for 2020-21. On the other hand, newsprint, sports goods, microphone will become cheaper as Finance Minister Nirmala Sitharaman proposed reduction in duties on these items in the Budget for 2020-21. Following is a list of imported items that will become costlier following the announcements in the Budget -- > Butter ghee, butter oil, edible oils, peanut butter > Whey, meslin, maize, sugar beet seeds, preserved potato > Chewing gum, dietary soya fibre, isolated soya protein > Walnuts (shelled) > Footwear, shavers, hair clippers, hair-removing appliances > Tableware, kitchenware, water filters, glassware > Household articles of porcelain or china > Rubies, emeralds, sapphires, rough

Union Budget was 'growth provoking and welfare inducing', says India Inc

India Inc on Saturday termed the Budget as "growth provoking and welfare inducing" but said that urgent implementation of the measures proposed will be crucial for achieving desired outcomes, while acknowledging that Finance Minister Nirmala Sitharaman had "little room" to manoeuvre. Soon after Sitharaman unveiled the Union Budget for 2020-21 in Parliament woven around the themes of aspirational India, and economic development for all and caring society, India Inc took to Twitter to share views on the announcements. The finance minister proposed new slabs and reduced tax rates under them for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions. She also proposed to remove dividend distribution tax on companies, and henceforth the tax will be shifted to recipients at the applicable rate. "Amidst global turbulence and nations dealing with bushfires & corona virus, FM Sitharaman has looked to craft a granular long-term ...

Budget 2020: NIRVIK to provide insurance cover for exporters, says FM

he development assumes significance as exporters have raised concerns over availability of credit

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.

Nothing in the budget to believe growth will rebound in FY21: Chidambaram

Slamming the Budget, senior Congress leader P Chidambaram said the Modi government is in complete denial that the economy faces a 'grave macro economic challenge'

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.

Market Wrap, Feb 1: Sensex tumbles nearly 1,000 pts as Budget disappoints

The government proposes to sell a part of its holding in LIC through initial public offer, Finance Minister Nirmala Sitharaman said while unveiling Budget 2020-21

Budget allocation for WCD ministry hiked by 14% to Rs 30,000 crore

The allocation for Pradhan Mantri Matru Vandana Yojana (PMMVY), a maternity benefit programme, has been increased from Rs 2,300 crore to Rs 2,500 crore

Govt intends to remove all income tax exemptions in the long run: FM

Speaking at a press conference after presenting her second budget in the Lok Sabha, she said income tax cuts follow reduction in corporate tax rates in September last year

FM Nirmala Sitharamn allocates 100 cr for hosting G-20 Presidency in 2022

During this meeting, India would be able to drive the global economic and development agenda, the Finance Minister said while presenting the Budget for 2020-21 in Parliament

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

Fiscal deficit way past 3.5% goal if off-budget borrowings are factored in

Adding these borrowings, amounting to Rs 1.86 trn, to the Rs 7.96 trn projected fiscal deficit would take the actual deficit to 4.37% of GDP, and not the official 3.5% estimate

Divesting stake in LIC a leap of faith; I-T structure now more complicated

Allocations to various sectors have been done to the extent the government could given the limited spending room. So, most of the government's favourite themes have got a decent budgetary spend

Employees' unions oppose govt plan to sell part of LIC holding via IPO

The government proposes to sell a part of its holding in LIC through IPO, she said while unveiling the Budget 2020- 21

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

Budget 2020: It lacks the punch to kick-start economic growth

The fiscal deficit number is manageable, but given the deviation from the original target, I would have liked to see some extra spending where it would have made a difference.

Budget 2020: No substantial relief visible for telecom sector, says COAI

Mathews said that telecom not being included in the definition of infrastructure was a disappointment for the industry

Budget gets thumbs up from startups, firms say it will help attract talent

The budget recommends a five-year tax holiday on Esopss, a 10- year tax exemption for startups with under-Rs 100 crore turnover and also talks of a seed fund to push new businesses

Imported electric vehicles to become costlier after hike in customs duty

Sitharaman also proposed to increase customs duty on CBUs of traditional commercial vehicles from 30% to 40%