Economy News

Centre clarifies on new definition of NRI under Finance Bill 2020

Centre clarifies on new definition of NRI under Finance Bill 2020

The Ministry of Finance on Sunday (February 2) issued a clarification saying that any Indian citizen, who becomes deemed resident of India under the Finance Bill 2020 will not be taxed in the country

Feb 02, 2020, 16:50 PM IST
Fuel prices further reduced post Budget

Fuel prices further reduced post Budget

This is the fourth consecutive day petrol and diesel prices were cut across all major cities.

Feb 02, 2020, 12:05 PM IST
Budget 2020 offers conditional income tax rate cuts, banks on rural and infra sectors

Budget 2020 offers conditional income tax rate cuts, banks on rural and infra sectors

The FM announced that the proposed cut in income tax rates, which would help save about Rs 31,000 a year in tax for persons with annual income of up to Rs 17 lakh, was conditioned on current

Feb 01, 2020, 23:10 PM IST
Budget 2020: Indian aid to neighbours around Rs 5,000 crore; Nepal sees cut of Rs 400 crore

Budget 2020: Indian aid to neighbours around Rs 5,000 crore; Nepal sees cut of Rs 400 crore

Bhutan continued to see maximum allocation in the Budget at Rs 2,884.65 crore with Afghanistan getting Rs 400 crore, Maldives and Myanmar getting Rs 300 crore each and Bangladesh and Sri Lanka

Feb 01, 2020, 21:32 PM IST
All tax exemptions will have to go eventually, says FM Nirmala Sitharaman

All tax exemptions will have to go eventually, says FM Nirmala Sitharaman

Speaking at a press conference after presenting her second budget, FM said income tax cuts follow a reduction in corporate tax rates in September last year and in the same manner, with or without

Feb 01, 2020, 20:38 PM IST
Union Budget 2020: Tax deduction on affordable housing loans extended by one year

Union Budget 2020: Tax deduction on affordable housing loans extended by one year

FM Nirmala Sitharaman on Saturday announced a proposal to extend additional deductions of up to Rs 1.5 lakh for the interest paid on loans for the purchase of affordable houses, up to March 2021.

Feb 01, 2020, 20:24 PM IST
Budget proposes to remove DDT, it will lead to estimated annual revenue forgone of Rs 25,000 crore

Budget proposes to remove DDT, it will lead to estimated annual revenue forgone of Rs 25,000 crore

While presenting the Union Budget 2020-21 in Parliament on Saturday, the Union Finance Minister, Nirmala Sitharaman said, “The dividend shall be taxed only in the hands of the recipients at their

Feb 01, 2020, 19:26 PM IST
Vivad Se Vishwas scheme proposed to reduce litigations in direct taxes; scheme open till June 30

Vivad Se Vishwas scheme proposed to reduce litigations in direct taxes; scheme open till June 30

Under the proposed ‘Vivad Se Vishwas’ scheme, the Finance Minister said that a taxpayer would be required to pay only the amount of the disputed taxes and will get a complete waiver of interest and

Feb 01, 2020, 17:47 PM IST
New reforms announced in Union Budget 2020 will give push to economy: PM Narendra Modi

New reforms announced in Union Budget 2020 will give push to economy: PM Narendra Modi

"New reforms announced in Budget will give a push to the economy. Govt has announced many measures in Budget to push employment in the country," the Prime Minister said.

Feb 01, 2020, 17:20 PM IST
Union Budget 2020: Cigarettes, tobacco, footwear costlier; imported newsprint, raw sugar, agro products, skimmed milk cheaper

Union Budget 2020: Cigarettes, tobacco, footwear costlier; imported newsprint, raw sugar, agro products, skimmed milk cheaper

 Here’s a look at the things that are set to become costly and those whose prices will see a drop after the presentation of Union Budget 2020 in Parliament.

Feb 01, 2020, 16:48 PM IST
Budget 2020 proposes 8 new museums, allocates Rs 2,500 crore to boost tourism

Budget 2020 proposes 8 new museums, allocates Rs 2,500 crore to boost tourism

Finance Minister Nirmala Sitharaman on Saturday (February 1) proposed to allocate Rs 2,500 crores in 2020-21 for the tourism sector in the Union Budget 2020-21, making India an attractive

Feb 01, 2020, 16:46 PM IST
Nirmala Sitharaman's Budget 2020 at a glance: Here's how Centre earns Re 1 and spends it

Nirmala Sitharaman's Budget 2020 at a glance: Here's how Centre earns Re 1 and spends it

Union Finance Minister Nirmala Sitharaman on Saturday presented her second Union Budget that focussed towards boosting India's economic growth and maintaining the fiscal disciple. Sitharaman, 60,

Feb 01, 2020, 16:26 PM IST
Railway Budget 2020: More Tejas-type trains, bullet train by 2023, Kisan rail and other key facts

Railway Budget 2020: More Tejas-type trains, bullet train by 2023, Kisan rail and other key facts

Here are the major highlights of FM Nirmala Sitharaman's speech and announcements regarding the Indian Railways.  

Feb 01, 2020, 16:17 PM IST
Budget 2020: Defence budget increased by 6% to Rs 3.37 lakh crore from Rs 3.19 lakh crore

Budget 2020: Defence budget increased by 6% to Rs 3.37 lakh crore from Rs 3.19 lakh crore

Union Finance Minister Nirmala Sitharaman on Saturday (February 1) delivered her Budget 2020 and announced that the Centre has decided to increase the defence budget by six per cent to Rs 3.37 lakh

Feb 01, 2020, 16:00 PM IST
Union budget 2020: Full speech of FM Nirmala Sitharaman

Union budget 2020: Full speech of FM Nirmala Sitharaman

Here's the full speech of Nirmala Sitharaman as she presented the Union Budget 2020 in Lok Sabha today: 

Feb 01, 2020, 15:17 PM IST
Tax, propose, government, crore the most used words in Nirmala Sitharaman's Budget 2020 speech

Tax, propose, government, crore the most used words in Nirmala Sitharaman's Budget 2020 speech

Finance Minister Nirmala Sitharaman's Budget 2020 speech included 13,331 words with the most used being tax which hit a century and was used 101 times by the Finance Minister. Apart from tax, the

Feb 01, 2020, 15:13 PM IST
Budget 2020 proposes measures to energise economy; Check key highlights

Budget 2020 proposes measures to energise economy; Check key highlights

Finance Minister Nirmala Sitharaman on Saturday (February 1) tabled the Union Budget 2020-21, unveiling a series of far-reaching reforms, aimed at energizing the Indian economy.

Feb 01, 2020, 14:57 PM IST
Budget 2020: What got cheaper and what got costlier; know here

Budget 2020: What got cheaper and what got costlier; know here

In Union Budget 2020-21 bought major relief to individual taxpayers by introducing  reduction in tax slabs and cut income tax rates for earnings up to Rs 15 lakh per year. 

Feb 01, 2020, 14:30 PM IST
Budget 2020: Here's how politicians, Opposition leaders are reacting

Budget 2020: Here's how politicians, Opposition leaders are reacting

Here, we take a look at some of the reactions that have been coming in on the Union Budget presented by the Cabinet minister. 

Feb 01, 2020, 14:30 PM IST
Budget 2020: Nirmala Sitharaman proposes more Tejas-like trains, 100 more airports

Budget 2020: Nirmala Sitharaman proposes more Tejas-like trains, 100 more airports

Sitharaman said that as many as 150 trains will be running on Indian Railway network in the coming year under the Public-Private Partnership (PPP) model and that the request for quotation invite has

Feb 01, 2020, 13:48 PM IST