Business & Corporate

While presenting the Interim Budget 2019-20 in Parliament today the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal said that the allocation for the North Eastern Areas is being proposed to be increased by 21% to Rs 58,166 crore in 2019-20 Budget Estimates over 2018-19 BE. The people of North East have also received significant benefits of infrastructure development. Arunachal Pradesh came on the air map recently and Meghalaya, Tripura and Mizoram have come on India’s rail map for the first time, he said. The Finance Minister said that the Government will introduce container cargo movement to the North East by improving the navigation capacity of the Brahmaputra river. Shri Goyal said that the projects stuck for decades like the Bogibeel rail-cum-ro

Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposed Relief of over Rs 23,000 crore to estimated 3 Crore small and middle class tax-payers TDS threshhold on interests on small savings raised Boost to housing and real estate sector FM announces a slew of tax reliefs for middle class and small tax payers Individual taxpayers having taxable annual income up to  Rs.5 lakhs will get full tax rebate and therefore will not be required to pay any income tax.  While presenting the Interim Budget 2019-20 in Parliament today the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal said “Because of major tax reforms undertaken by us during last four and half years, both tax collections as well as tax base have show

A meeting of the Central Board of Reserve Bank of India was held in Mumbai today. The meeting was chaired by the newly appointed governor, Mr Shaktikanta Das. While no decisions were made as such, the board today discussed issues like RBI’s governance framework and decided that the issue needed further examination. The board also reviewed the prevailing economic situation and examined global and domestic challenges. The board further discussed issues related to liquidity and credit delivery to the economy apart from issues related to currency management and financial literacy.

In a series of reforms, capital market regulator Sebi's board on Wednesday cleared easing of norms to kick-start startup listings and allowed mutual funds to segregate distressed assets to safeguard investment returns. At a meeting held here, the Sebi board also approved a proposal to expand the offer-for-sale mechanism for reduction of stake in listed companies and relaxed clubbing of investment limit norms for well-regulated foreign investors. The expansion of offer-for sale scheme will include all companies with Rs 1,000-crore and above market-capitalisation.

In a bid to ensure greater transparency, Reserve Bank has proposed that floating interest rates on personal, home, auto and MSMEs loans be linked to external benchmarks like repo rate or treasury yields. In a statement issued from Mumbai yesterday, RBI said that the final guidelines to link the interest rate to external benchmarks will be issued by the end of this month. Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate. The new system is likely to become operational by 1st April 2019. RBI has said that the banks should decide the benchmark rate system to be followed right at the inception of the loan and it should remain unchanged through the life of the loan. It ...