It takes almost six months to prepare the Union budget. The finance minister and her core team then devote a critical fortnight in January to freeze the document, usually a week before its presentation in Parliament. This year, as Finance Minister Nirmala Sitharaman gears up to present her fourth budget on February 1, two factors … Read more
People aged 75 years and over availing exemption from filing income tax returns will have to submit a declaration at the bank giving evidence of their eligibility, according to rules notified by the Central Board of Direct Taxes (CBDT) under the Income Tax Act. Certain banks have been mandated to verify the declaration and deduct … Read more
NEW DELHI: Expectations that the country’s GDP would record growth in the third and fourth quarters of 2020-21 are getting stronger on account of various reforms undertaken by the government in the last ten months, PHDCCI said on Saturday. It said out of the 10 indicators of QET (Quick Economic Trends) of economic and business … Read more
NEW DELHI: Lok Sabha was adjourned on Saturday as the first phase of the Budget session concluded. The House would reconvene on March 8 after recess. The Budget session usually is held in two phases. In the first phase, the President addresses the two Houses as it is the first session of the year. The … Read more
A higher fiscal deficit on account of blasé accounting reforms may suggest that the Centre has pumped in an enormous stimulus even as naya paisa laid out is actually minimal. Synopsis Budget 2021 could have done more for boosting public investment in agriculture and increasing government spending beyond what is incurred on repaying FCI’s debts. … Read more
Ahead of the presentation of the Union budget, Finance Minister Nirmala Sitharaman threw down the gauntlet as it were. The FM audaciously claimed her next essay would be a ‘once in 100 years’ budget. Many believed she may have just over-promised and added to the pressure of coming up with a post-pandemic budget to both … Read more
One of the most enigmatic elements of GoI’s approach towards the Covid-19 pandemic has been its dogged conservative approach towards fiscal management this year. We have seen how in the first half of 2020-21, when the economy was ravaged the most by Covid, central government spending was lower than it was in the corresponding period … Read more
Tourism sector primarily has two schemes – PRASAD and Swadesh Darshan – both of which have been continued this year. By S.N.M.D. Sarkar, Indian Union Budget 2021-22: Union Budget 2021 upholds well-planned framework to boost the travel sector. A whopping allocation of Rs 2,83,846 crore for healthcare, which is around 137 per cent higher than … Read more
NEW DELHI: From Rs 1.03 lakh crore highway projects for Tamil Nadu to Rs 65,000 crore works for Kerala – four poll-bound states found special mention in the Budget speech of Finance Minister Nirmala Sitharaman on Monday. Tabling the Budget 2021-22 in Parliament, Sithraman in her speech specifically announced Rs 2.27 lakh highway projects for … Read more
The budget outlay for the health sector in the last financial year was about Rs 94,452 crore. Union Budget 2021 India: Finance Minister Nirmala Sitharaman while announcing the Union budget has announced a new health scheme named PM Atmanirbhar Swasth Bharat Yojna. FM Sitharaman while announcing the budget said that the scheme will strengthen the … Read more