Friday, February 22News That Matters

Business & Corporate

Allocation for the North Eastern Areas is being proposed to be increased by 21% to Rs 58,166 crore in 2019-20

Allocation for the North Eastern Areas is being proposed to be increased by 21% to Rs 58,166 crore in 2019-20

Business & Corporate, India
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 : FM

Income upto Rs 5 Lakh to get full tax rebate : FM

Business & Corporate, India
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
Government Presented Strong Growth Oriented & People Friendly Budget

Government Presented Strong Growth Oriented & People Friendly Budget

Business & Corporate
The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:   New Announcements 1)  Farmers 12 crore small and marginal farmers to be provided with assured yearly income of Rs. 6000 per annum under PM-KISAN Outlay of Rs. 75,000 crore for FY 2019-20 with additional Rs. 20,000 crore in RE 2018-19 Outlay for Rashtriya Gokul mission increased to Rs 750 crore Rashtriya Kamdhenu Ayog  to be setup for sustainable genetic up-gradation of the Cow resources New separate Department of Fisheries for welfare of 1.5 crore fishermen 2% interest subvention to Farmers for Animal husbandry and Fisheries activities; additional 3% in case of timely repaym
बजट 2019 में दिखा 56″ इंच का दम, टैक्स कर दिया कम !

बजट 2019 में दिखा 56″ इंच का दम, टैक्स कर दिया कम !

Business & Corporate, Policies
5 लाख रुपये तक की आय पर कर में पूरी छूट; अधिक मानक कटौती का प्रस्‍ताव  करीब 3 करोड़ लघु और मध्‍यम वर्ग के करदाताओं को 23,000 करोड़ रुपये से अधिक की राहत छोटी बचतों पर मिलने वाले ब्‍याज पर टीडीएस सीमा बढ़ी आवास और रियल एस्‍टेट क्षेत्र को बढ़ावा वित्‍त मंत्री ने मध्‍यम वर्ग और छोटे करदाताओं के लिए करों में राहत की घोषणा की केन्‍द्रीय वित्‍त, कॉरपोरेट मामले, रेल और कोयला मंत्री श्री पीयूष गोयल ने आज कहा कि 5 लाख रुपये तक की सालाना आमदनी वाले करदाताओं को अब कर में पूरी छूट मिलेगी और उन्‍हें कोई आयकर नहीं देना होगा। संसद में वर्ष 2019-20 का अंतरिम बजट पेश करते हुए श्री गोयल ने कहा, ‘पिछले साढ़े चार वर्षों के दौरान हमारे द्वारा किये गये प्रमुख कर सुधारों के कारण, कर संग्रहण और कर आधार में महत्‍वपूर्ण वृद्धि देखने को मिली है, जिससे साधारण कराधान उच्‍च-अनुपालन व्‍यवस्‍था कायम हुई है। अ
Govt to infuse Rs 83,000 crore in PSBs in next few months :

Govt to infuse Rs 83,000 crore in PSBs in next few months :

Business & Corporate, businessNews, India
The government will infuse 83000 crore in Public Sector Banks in next few months in the current fiscal. Briefing media in New Delhi on Thursday evening, Finance Minister Arun Jaitley said the recapitalisation will enhance the lending capacity of state-owned banks and help them come out of the RBI's Prompt Corrective Action, PCA framework. He further said recognition of non-performing assets in the public sector banks is complete, and the downslide in bad loans has begun. The government on Thursday moved proposal in Parliament for enhanced bank recapitalisation outlay from Rs 65 thousand crore rupees to one lakh six thousand crore rupees in the current financial year to propel economic growth.
New RBI Governor holds central board meeting :

New RBI Governor holds central board meeting :

Business & Corporate, India
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.
Sebi unveils more reforms, board clears easier startups listing rules :

Sebi unveils more reforms, board clears easier startups listing rules :

Business & Corporate, India
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.
RBI proposes new method to benchmark floating rate of loans for MSMEs :

RBI proposes new method to benchmark floating rate of loans for MSMEs :

Business & Corporate, India
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 ...
Sensex plunges 572 points to 35,312; Nifty tumbles 182 points to 10,601 :

Sensex plunges 572 points to 35,312; Nifty tumbles 182 points to 10,601 :

Business & Corporate, Market
Benchmark domestic stocks today closed with losses for third consecutive day. The indices witnessed fall of more than one and half a percent following weak global cues, weak rupee and sustained selling by foreign as well as domestic institutional investors. The Sensex at the Bombay Stock Exchange plunged 572 points, or 1.6 percent, to 35,312. The Nifty at National Stock Exchange also tumbled 182 points, or 1.7 percent, to 10,601
OPEC set to meet in Vienna :

OPEC set to meet in Vienna :

Business & Corporate
The members of Organization of the Petroleum Exporting Countries and other oil-producing countries are scheduled to meet in Vienna on Thursday to discuss ways to manage the oil output, supply glut and demand slowdown. US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low. Over the past two months oil prices have plunged and a barrel of Brent crude, the European benchmark, currently stands at around 60US dollars. However, OPEC's third-biggest producer Iran has called to be excluded from any decision to cut production.