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Economic Times | 21 Jan, 2021 | 12.11AM IST

Budget News January 20: Govt should spend on vaccination and recapitalisation of PSBs, says Swaminathan Aiyar

According to Swaminathan Aiyar, there are only two major items on which the government needs to spend in a big way – vaccination and recapitalisation of state-owned banks.

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11:41 PM

Easing of import duty payment timelines likely

The government is evaluating relaxation of payment timelines of import duties so that many importers can hold on to their authorised economic operator, or AEO, status, a government official told ET.
11:12 PM

Home First Finance garners Rs 346 cr from anchor investors ahead of IPO

10:49 PM

Oil imports at near 3-yr high in Dec

India's crude oil imports in December soared to the highest levels in nearly 3 years to more than 5 million barrels per day.
10:29 PM

NHAI in good shape, toll revenue to touch Rs 1.34 lakh crore a year by 2025

Nitin Gadkari said the National Highways Authority of India's (NHAI) financial status is in a good shape, and the country's toll revenue, which is Rs 34,000 crore per year, will touch Rs 1.34 lakh crore a year by 2025.
10:09 PM

Maharashtra budget session likely from March 1

The duration of the session will be finalised in the Business Advisory Committee (BAC) meeting scheduled to be held in February, sources said.
09:55 PM

Karnataka: The most innovative state

  • Karnataka retained its position as the most innovative state in the country followed by Maharashtra, Tamil Nadu, Telangana and Kerala.
  • Himachal Pradesh, Uttarakhand and Manipur in top three positions among north-east and hilly states
  • Delhi, Chandigarh and Daman and Diu are the toppers among the union territories in the country
09:41 PM

CBDT issues refunds of over Rs 1,76,217 crores to over 1.65 crore taxpayers between April 1, 2020 to Jan 18, 2021

Income tax refunds of Rs 58,631 crores have been issued in 1,62,39,742 cases & corporate tax refunds of Rs 1,17,586 crores have been issued in 2,11,338 cases:IT Dept
09:26 PM

More focus on R&D

  • Food processing ministry will focus on research and development (R&D) of the products and process development, said Rameswar Teli
  • Higher levels of food processing will help improvise value addition, ensure better return on investment for farmers, etc.
  • The ministry has spent about Rs 100 crore for the R&D in the 2020-21 financial
09:12 PM

Revisiting Budget 2020-2021: What it had for technology sector?

  • Knowledge Translation Clusters for emerging technology sectors
  • Scaling up of Technology Clusters harbouring test beds and small scale manufacturing facilities
  • National Mission on Quantum Technologies and applications with an outlay of Rs.8000 crore proposed
08:56 PM

A plan to improve city logistics

Commerce Ministry said it will work with the Housing Ministry to focus on 50 cities for their logistics planning besides developing a plan to reduce the enforcement burden on truck drivers.
08:39 PM

Where government needs to spend?

According to Swaminathan Aiyar, there are two major things on which the government needs to spend in a big way,
  • Vaccination
  • Recapitalisation of state-owned banks
08:23 PM

In the recent years, NBFCs that are important intermediaries of credit have faced concerns of liquidity, governance and solvency and it is hoped that the Budget will ease some of the pressures

- L Viswanathan, Cyril Amarchand Mangaldas (PTI)

08:07 PM

The virus has led to a demand shock and the budget might need to focus on that

- Bank of America economist Indranil Sen Gupta (Bloomberg)

07:51 PM

Regulatory compliance portal: A central online repository of all central and state-level compliances

Govt has launched a regulatory compliance portal that would capture the action plans to rationalize and simplify processes, remove burdensome compliances, decriminalize laws and repeal redundant Acts, made by the centre and states.
07:35 PM

Solar sector shines in 2020

According to Mercom Capital Group, the solar sector witnessed total corporate funding of $8.1 billion in 2020, a jump of 112 per cent, globally.
07:18 PM

Revisiting Budget 2020-2021: Education and Skills

  • About 150 higher educational institutions will start apprenticeship embedded courses
  • Internship opportunities to fresh engineers by urban local bodies
  • Special bridge courses to improve skill sets of those seeking employment abroad
07:06 PM

Suggestions from auto dealers

In its budget recommendations, the Federation of Automobile Dealers Associations urged FM to introduce benefits of claiming depreciation on vehicles for individuals paying income tax, and extend the depreciation period for corporates.
06:43 PM

What India Inc is looking for in Budget?

According to a survey by Ficci and Dhruva Advisors, the top three macro-economic themes which members of India Inc would like to see in the upcoming Budget are;
  • Focus on creating demand
  • Encouraging infrastructure spends
  • Increasing outlays for the social sector
06:26 PM

About 81.14 lakh paddy farmers benefitted from Kharif Marketing Season (KMS) Procurement Operations with MSP value of Rs 108054.40 crores

06:13 PM

Few recommendations from insurance industry for Budget 2021

  • Increase deduction limit on medical insurance
  • Allow employers to claim GST credit for group health cover
  • Include deduction for life insurance in new tax regime
  • Offer exemption to tax-free portion put in annuity
05:57 PM

Revisiting Budget 2020-2021: What it had for fisheries?

  • Fish Production target of 200 lakh tonnes by 2022-23
  • Another 45000 acres of aqua culture to be supported
  • Fishery extention through 3477 Sagar Mitras 500 fish FPOs
  • Raise fishery exports to Rs 1 lakh crore by 2024-25
05:35 PM

Consumption and expenditure must be in focus in Budget 2021: Sonal Varma

Sonal Varma is currently working as the Managing Director and Chief Economist for Nomura Holdings.
05:18 PM

The focus during budget 2021 should be stability on the tax front. Please do not change anything on tax

- Swaminathan Aiyar at ET Markets Global Summit

05:07 PM

Rising protectionism in the world a challenge for India

- Sonal Varma, Nomura Holdings at ET Markets Global Summit

04:58 PM

This will be the first Budget in history with health as the most important topic

- Swaminathan Aiyar at ET Markets Global Summit

04:56 PM

We don't need major fiscal stimulus. We need targeted support

- Sonal Varma, Nomura Holdings at ET Markets Global Summit

04:41 PM

Revisiting Budget 2020-2021: What it had for Agriculture?

  • Integartion of e-NWR with e-NAM
  • Agricultural credit target of Rs 15 lakh crore for 2020-21
  • Increasing coverage of artificial insemination to 70 per cent
  • Doubling of milk processing capacity by 2025
  • Elimination of FMD and brucellosis in cattle and PPR in sheep and goat by 2025
04:23 PM

Govt may keep Rs 25k cr for capital infusion in PSBs

  • FM may set aside about Rs 25,000 crore in the budget for providing capital to PSBs.
  • FinMin sought details from lenders on capital requirements, bad loans and plans to raise funds.
  • The final capitalisation amount will be decided after discussions.
04:07 PM

Rupee rises 12 paise to end at 73.05 against US dollar

03:55 PM

Markets close at record highs

  • Nifty jumps 124 points 14,645
  • Sensex rises 394 points to 49,792
03:42 PM

States' fiscal deficit to go through the roof

  • States may see a near four times expansion in their revenue deficits this fiscal.
  • This will expand states’ aggregate gross fiscal deficit to an all-time high of Rs.8.7 lakh cr.
  • It will increase credit risks of states, according to ratings firm Crisil.
03:28 PM

IPOs fear Budget-driven selloff

There is a flurry of activity in the IPO market as it soaks up liquidity in a hurry fearing a big sell-off in the stock market before or after the presentation of the Union Budget on February 1.
03:06 PM

Experts call for Budget 2021 to focus on FDI

With the global economy in flux, experts are of the opinion India can - with the necessary resources and support - take advantage if we decided in the right direction.
02:46 PM

Nifty could hit 15,000 by December

Markets have rallied by 80% since April after a heavy 40% correction following the announcement of the COVID-19-related restrictions. Many analysts, including RBI Governor Shaktikanta Das, have raised concerns over the over-heating in the markets.
02:37 PM

The upcoming budget will have an expansionist bias in the fiscal policy while the inventory levels will dip in the realty sector, leading to a surge in new projects

- Amish Shah, India equity strategist, Bofa Securities

02:16 PM

The virus has led to a demand shock and the budget might need to focus on that

- Bank of America economist Indranil Sen Gupta

02:04 PM

Taxability on dividend income should be capped at the rate of 15 per cent for resident assesses

- Vikash Agarwal, President at Indian Chamber of Commerce

01:54 PM

Fiscal deficit does matter because you are also crowding out private investment which needs to be able to get resources in the financial markets as well: Arvind Panagariya

01:27 PM

Things looking better for Indian this year...the GDP growth should be significantly higher than where we left off in 2019-20

- Arvind Panagariya

01:09 PM

What States Want?

  • States want the Centre to merge cesses and surcharges into the basic rate of tax so that they also receive their due share from the additional revenue.
  • States want borrowing of up to 5% of GDP to be permitted in 2021-22
  • They have also asked the Centre to clear outstanding dues stemming from lower devolution to the states and GST in FY 2020-21.
12:49 PM

Budget wishlist: States have asked the Centre to consider using to monetise its fiscal deficit to support the pandemic-hit economy

12:28 PM

The government will have to work on course correction, fiscal and relief measures to boost discretionary spending and put more money in the hands of consumers to stimulate subdued demand

- Arvind Mediratta, managing director at retail chain Metro Cash & Carry

12:10 PM

Budget facts: Union Budget for FY2021-22 will be the eighth budget of the Narendra Modi-led government

11:56 AM

Markets may stay volatile till Budget Day, expect weakness in PSU pack

- Jimeet Modi, CEO, Samco Securities & StockNote

11:31 AM

Budget wishlist: Odisha government seeks Rs 7,200 crore for railway infrastructure and Rs 5,650 crore for development of telecom sector in the state

11:08 AM

The mega textile parks would have uninterrupted water and power supply, common utilities and research and development labs

10:34 AM

The textile ministry has a proposal for seven mega textile parks. These, the ministry hopes, will help double the industry size to $300 billion by 2025-26.

10:31 AM

The finance and textiles ministries are in discussion over the textile park scheme that will offer incentives to investors that set up facilities in these parks as also the developers.

10:22 AM

Leg-up for exports: Mega textile park scheme may be unveiled in budget 2021

10:04 AM

Tax cuts, higher infra spending and more capex hold key to unlocking demand, say experts.

09:30 AM

Ahead of Budget, Karnataka home minister Basavaraj Bommai has sought more funds from the Centre for investments in Bengaluru’s infrastructure projects such as metro rail, sub-urban rail, road transport etc.

09:09 AM

The budget should address two main things that will bring in Ease of Doing Business for retailers: Freedom from various procedural strangleholds and access to funds necessary for growth.

- Kumar Rajagopalan, CEO, Retailers Association of India

08:52 AM

Budget 2021 could give tax sops to boost spending, extend LTC cash voucher scheme

- Shalini Jain, Partner - People Advisory Services, EY India

08:36 AM

Prime Minister Narendra Modi to chair the all-party meeting, that has been called on 30th January ahead of Budget Session of the Parliament. The meeting will be held via video-conferencing.

-ANI
08:36 AM

A meeting of NDA (National Democratic Alliance) to be held on 30th January, ahead of Budget Session of the Parliament.

- ANI
08:19 AM

Finance Minister may set aside Rs 25,000 crore for capital infusion in Public Sector Banks

-ET Bureau
08:02 AM

This Budget session the House will sit in two shifts, morning and evening. The Rajya Sabha will sit in morning from 9 am to 1 pm and the Lok Sabha from 4 pm to 8 pm.

07:44 AM

Budget session of parliament will be held in two parts, January 29 to February 15 and then from March 8 to April 8

07:37 AM

All MPs will be requested to undergo COVID-19 test before the start of the Budget session and arrangement for the same will be made in the parliament premises from January 27: Lok Sabha Speaker Om Birla

07:20 AM

According to reports, Question hour will make a comeback this Budget session

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