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NewsGeneral Budget 2020-21

General Budget 2020-21 News

01 Feb 2020

Budget offers conditional 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 exemptions and deductions including standard deduction for Rs 50,000 as well as the waiver earned on payment of up to Rs 1.5 lakh in tuition fee of children, and contribution towards insurance premium and provident fund, being given up.

01 Feb 2020

Railway Budget 2020: Tejas-type trains, bullet train and keys facts

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

01 Feb 2020

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.

31 Jan 2020

Union Budget today; cut in tax rate, sops for social sectors likely

Going by the people's expectations, a cut in personal income tax rate slabs, sops for rural and agriculture sectors as well as an aggressive push on infrastructure spending are likely to be part of Finance Minister's "feel-good" second General Budget.

Economic Survey 2019-20

31 Jan 2020

Economic Survey projects economic growth at 6% to 6.5% in 2020-21

The Economic Survey 2019-20 emphasised the idea that wealth creation should do no harm, highlighting several ideas on the themes of Sustainable Development and Climate Change.

31 Jan 2020

Govt is dedicated to turn India into $5 trillion economy: President Kovind

President Kovind said, "India has made significant improvement in World Bank’s Ease of Doing Business ranking."

31 Jan 2020

Budget 2020: Officer stays back in North Block, ignores personal loss

Kuldeep Kumar Sharma, Deputy Manager (Press), has been in lock-in as he is one of the key staff tasked with printing of confidential Budget documents. While he was busy with the assignment, his father passed away on January 26, 2020.

31 Jan 2020

Budget session commences today; FM to table General Budget on Feb 1

The budget session of Parliament will commence on Friday (January 31). Finance Minister Nirmala Sitharaman will present the General Budget 2020-21 in the Lok Sabha on Saturday (February 1).

30 Jan 2020

Budget need to rekindle animal spirit of entrepreneurs for economic growth

The forthcoming Union Budget must address the issue of how to improve the flow of savings to investments, whether in the form of equity or debt.

30 Jan 2020

Budget 2020: Meet 'Fantastic Four' who give critical feedback to FM Sitharaman

Even as all eyes will on the Budget, there is a "fantastic four", as they are often referred to within the BJP, who have, for months, been giving critical feedback to the Finance Minister on what the budget should be and specifically, which sectors deserve more allocations.

30 Jan 2020

Ready to discuss all issues: PM at all-party meeting ahead of Budget Session

During the all-party meeting, the PM also cautioned the Opposition leaders to introspect upon their stand on the Citizenship Act that has been passed democratically in Parliament, he added.

30 Jan 2020

Budget may unveil new amnesty scheme for legacy disputes in Income Tax

The Finance Ministry received around 1.89 lakh applications under the Sabka Vishwas (Legacy Dispute Resolution Scheme) 2019, which kicked off in September and concluded on January 15.

30 Jan 2020

Budget 2020: BJP recommends tax tweaks to attract foreign investors

India charges 15% short-term capital gains tax if equity shares are sold within a year and at 10% if sold after a year. Another demand has been for an amendment to dividend distribution tax (DDT) rules.

30 Jan 2020

Budget 2020: Industry body expects relief, exemptions for real estate

Praveen Kr Jain, vice president, FJCCI, told ANI, "Real estate contributes to a great extent in our economy. Most importantly, it provides employment."

28 Jan 2020

Union Budget may have uniform LTCG duration for equity, property and gold

These asset classes more or less are the bulwark of the investment ecosystem in the country and a standard LTCG computation would introduce transparency and provide more clarity and simplicity of the regime for investors.

28 Jan 2020

Microfinance institutions seek more refinance from DFIs in Union Budget

The industry has also urged the government to create a dedicated fund for MFIs which are financing water and sanitation projects.

27 Jan 2020

Industry body asks FM Sitharaman to slash GST on Auto LPG in Budget

High GST rates on clean fuels and conversions kits are in complete variance to the government's stated green mobility push, IAC said in a statement.

27 Jan 2020

Budget 2020: Import duty cut likely on raw material for fertiliser industry

In a bid to boost domestic manufacturing, the government is likely to go ahead with cut in import duty on raw material used in the fertiliser industry, sources said, adding that lower import duty on raw material like rock phosphate and sulphur used for manufacturing of DAP (Di ammonium phosphate) would help boost domestic production and cut in import bill.

27 Jan 2020

Budget 2020 may do away with capital gains on selling of property

If the property is sold within 24 months, one has to pay a short-term capital gains tax (STCG) on the gains as per an individual`s income-tax slab.

27 Jan 2020

Budget 2020: Consumer electronics industry seeks tax relief, incentives

The CEAMA has urged the government to offer incentives for manufacturers to produce energy-efficient products which will be in line with the government's focus on sustainability in a pre-budget memorandum.

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