Efficient financial management and a record increase in the State’s own revenues helped Kerala withstand fiscal pressures in the 2023-24 fiscal, Finance Minister K.N. Balagopal said on Saturday. Speaking to reporters here after visiting the treasury on Saturday, the last working day of the 2023-24 fiscal, Mr. Balagopal said the government had made payments to … Read more
ICICI Bank credit cards airport lounge access: After HDFC Bank, IDFC First Bank, SBI Card, ICICI Bank has modified its airport lounge access benefits and reward points rules on its 21 credit cards. The revised benefits will be applicable from the new fiscal, i.e. April 1, 2024. As per a notification on the ICICI Bank … Read more
New Delhi: The Centre is expected to achieve the FY23 fiscal deficit target of 6.4% of gross domestic product (GDP) despite a downward revision in national income from the budgeted levels, said a person aware of the details. The actual FY23 fiscal deficit, in absolute terms, will likely be slightly lower than the revised estimate … Read more
The government data showed that power consumption in April-February 2021-22 was 1245.54 BU. File (representational image) | Photo Credit: Reuters India’s power consumption surged 10% to 1375.57 billion units (BU) during April-February this fiscal year and has already surpassed the level of electricity supplied in entire 2021-22. The government data showed that power consumption in … Read more
February 01, 2023 08:36 pm | Updated February 02, 2023 03:20 am IST – THIRUVANANTHAPURAM Chief Minister Pinarayi Vijayan. | Photo Credit: THULASI KAKKAT The Union Budget 2023 presented by Finance Minister Nirmala Sitharaman on Wednesday appears to have dashed Kerala’s expectations with respect to specific demands made on the infrastructure and fiscal policy fronts. … Read more
The government is mulling an increase in the standard deduction limit available to salaried taxpayers and pensioners by 30-35% in the upcoming budget while income tax slabs are likely to remain unchanged given the limited fiscal headroom, officials said. At present, Rs 50,000 standard deduction is allowed to these categories of taxpayers. Industry bodies have … Read more
Among PSUs, we estimate SBI’s RoE to touch about 15% by FY23,” it said. Synopsis “The banking sector is entering a golden period, with the focus shifting from asset quality issues toward strong growth opportunities, market share gains, and earnings pendulum swings to decadehigh returns on equity (RoE),” the Motilal Oswal note said. Fortunes of … Read more
The government is confident of lowering the fiscal deficit to 4.5 per cent of GDP by 2025-26 fiscal, considering a nominal GDP growth of 10 per cent every year, Expenditure Secretary T V Somanathan has said. India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin … Read more
Further adding to the recovery signals, advance tax payment by companies has shown a massive 49 per cent growth to Rs 1,09,506 crore in the third quarter this fiscal, a CBDT source has said. The increase can primarily be attributed to the low-base last fiscal when the government had slashed corporation tax rates to a … Read more
New Delhi: Consumer Electronics maker Ajanta-Orpat Group is expecting a flat growth in its revenue at Rs 1,250 crore in the current fiscal due to the COVID-19 impact. The company, which saw dismal sales in the first quarter of the current fiscal due to the nationwide lockdown, is counting on the upcoming festive season to … Read more