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Cabinet nod for banking game-changer , 10 PSBs to turn into four big banks

The Narendra Modi government had announced the mega merger in August last year.

Amendments to Companies Act may get nod today

The proposal, which has already been approved by a group of ministers looking into the Companies Act, will be part of a bill that seeks to decriminalise over 40 sections of the law to ease the compliance burden on the corporate sector.

Taxpayers nudged to opt for Vivaad Se Vishwas scheme

Experts said that the dept is pushing taxpayers to settle but govt says that it’s only 'encouraging' them to do so.

Growth may have come down but its not a recession, says Nirmala Sitharaman in Rajya Sabha

Replying to a debate in the Federal chamber, Finance Minister Nirmala Sitharaman put forward a number of macro-economic data comparing period between UPA-2(2009-2014) and NDA-1(2014-2019). Presenting the figures, she reminded the opposition that the economic recovery is as much based on perception as it is based on governmental intervention.Growth may have come down but its not a recession, says Nirmala Sitharaman in Rajya Sabha

A dip in GDP is part of growth process: Finance Minister Nirmala Sitharaman

"Govt is conscious that it has to respond and will try to frontload infra spending as much as possible," finance minister said.

Shaktikanta Das sees room to cut rates as coronavirus dents growth

Options include a rate cut and supporting the market through liquidity measures, says Das.

Govt introduces bill to amend banking laws to strengthen cooperative banks

The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks while administrative issues will still be guided by the Registrar of Cooperative. The Bill proposes to bring cooperative banks on par with developments in the banking sector through better management and proper regulation of cooperative banks.

Nirmala Sitharaman will reply to Budget debate in Parliament

Finance Minister Nirmala Sitharaman's budget has been debated since it came out earlier this month. She plans to respond to her critics, at the Parliament.

Finance Minister Nirmala Sitharaman introduces Bill in Lok Sabha to cut corporate tax

The Taxation Laws (Amendment) Bill, 2019 will replace the Taxation Laws (Amendment) Ordinance, 2019, promulgated on September 20, 2019, to cut the base corporate tax rate to 22 per cent from 30 per cent. Also, the International Financial Services Centres (IFSCs) Authority Bill, 2019, that provides for creation of a unified financial regulator for IFSCs was introduced.

One more set of reforms coming to boost economic growth: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday said the government will respond to the challenges faced by all the sectors. Every possible help will be extended to them, she told a press conference here. "We are looking at the challenges which the sectors are facing. We will respond to the challenges and extend every possible help," Sitharaman said to a query on the ongoing slowdown of the economy. She said the Centre is "continuously engaging with the sectors facing challenges and interacting with them".One more set of reforms coming to boost economic growth: Nirmala Sitharaman

New slabs make I-T structure more equitable: Ajay Bhushan Pandey

“People say there should be one or two slabs but that would be highly inequitable... Rates would have to be steep if we have one or two slabs. The income tax structure has to be progressive,” Ajay Bhushan Pandey told ET. “We studied slabs in developing countries, developed countries, neighbouring countries before these were worked out.”

Nirmala Sitharaman to address RBI board on Monday

The government has lowered the fiscal deficit target to 3.3 per cent of the GDP as it is expecting net additional revenue of Rs 6,000 crore over the interim Budget estimates.

CBDT to link field officers' annual appraisals, postings with 'Vivad se Vishwas' mop-ups

An office memorandum from the CBDT, dated February 21, said that collection outcomes would play a bigger role in the future postings of the field officers. The latest missive assumes significance as there have been concerns over alleged 'tax terrorism' and undue harassment of genuine taxpayers by tax officials. The economic growth is also slowing down.

Sundaram Mutual waives off exit load on redemptions in its schemes

No exit load would be charged, if up to 25 per cent of the units are redeemed or withdrawn by way of SWP within 365 days from the date of allotment.

BPCL valuation high, evaluating bid: Anil Agarwal, Vedanta

"We certainly are interested in bidding but the valuations are too high," mining baron Anil Agarwal said. "The bid document is not yet out and we will carefully evaluate bidding once the offer document is out." He said share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year.

India to strengthen corporate bond market: Nirmala Sitharaman

In her maiden budget speech, the finance minister said the government will take multiple measures to deepen the corporate bond market.

FM Nirmala Sitharaman to present Union Budget today

Newly appointed Finance Minister Nirmala Sitharaman will on Friday present the first budget of the second term of the Narendra Modi government. It will also be the maiden budget for Sitharaman, who becomes the second woman finance minister after Indira Gandhi to do so in the history of independent India.FM Nirmala Sitharaman to present Union Budget today

Infra players take up land, funding issues with FM Nirmala Sitharaman

FM Nirmala Sitharaman on Wednesday met representatives from the infrastructure industry to understand issues faced by them.

Budget 2019: It will be a tightrope walk for Nirmala Sitharaman

But, the combined effect of all these would be that the budget deficit may widen to 3.5 per cent of gross domestic product (GDP) in 2019-20 that began on April 1, instead of 3.4 per cent target.

Government's total receipts at Rs 12.82 lakh cr in April-January

The Government of India has received Rs 12,82,857 crore up to January 2020. Tax revenue stood at Rs 9,98,037 crore, while non-tax revenue stood at Rs 2,52,083 crore. Non-debt capital receipts stood at Rs 32,737 crore, which includes Rs 18,351 crore of disinvestment proceeds.

Making sense of India's growth in the times of Coronavirus

For FY20, GDP is now estimated to grow by a decade’s low of 5%.

RBI powers wide ranging, comprehensive: Nirmala Sitharaman

“The improvement in regulatory functioning being an ongoing process, government engages with RBI and discusses issues as they evolve,” Nirmala Sitharaman stated in the Rajya Sabha.

Govt loosened purse strings with fiscal deficit in mind, willing to do more: FM

Sitharaman said the govt is mulling creating a Development Finance Institution to help fund the Rs 102-lakh crore infrastructure funding, but hinted at a larger reliance on the private sector in doing so. The govt has utilised a clause under the fiscal deficit and budget management Act to have a wider fiscal gap of 3.8 per cent in FY20 and has committed to narrow it to 3.5 per cent in the FY21 budget.

Economic growth high on agenda of government: Nirmala Sitharaman

Sitharaman said economic growth is high on the agenda of the govt and various reforms are being undertaken in many spheres to improve GDP growth.

Economic growth high on government's agenda: Nirmala Sitharaman

Government has constituted a five-member cabinet committee on investment and growth chaired by the Prime Minister, the finance minister said.

With Q3 GDP growth at 4.7%, FM says 'steadiness' in economy is a good sign

The FM said "steadiness" in economy is a good sign, soon after the official data showed Q3 GDP at 4.7%.

April-January fiscal deficit reaches 128.5% of Rs 7.67 lakh crore revised FY20 target

The fiscal deficit is the shortfall in a government's income compared with its spending. It essentially means that the government is spending beyond its means. The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020.

Measures taken by Indian government will boost economic growth: SBI MD Dinesh Khara

Slowdown in the Indian economy has bottomed out and measures taken by the government in the recent budget to improve capacity to spend in rural sector, infrastructure creation and inviting foreign investments will boost growth, State Bank of India Managing Director Dinesh Khara has said.

Cabinet approves import of 1.2 lakh tonnes onion: Finance Minister Nirmala Sitharaman

The move comes after the government's various efforts to boost the domestic availability failed to cool down the retail prices significantly. Retail prices of onions are continuing to rule above Rs 60/kg in Delhi. Onion prices have come under pressure due to 26 per cent fall in the production to 52.06 lakh tonnes during the kharif output late-kharif seasons of 2019-20.

Sovereign wealth funds look at infrastructure sector

Nirmala Sitharaman in her Budget speech had offered incentives for sovereign wealth funds of foreign governments in the priority sectors. The government said it will grant 100% tax exemption to their interest, dividend and capital gains income on investment made in infrastructure and other 36 notified sectors before March 2024 and with a minimum lock-in period of 3 years.

AIF hopes to unlock Rs 26,000 Cr stuck in stalled housing projects

The alternative investment fund is taking multiple steps so that it has complete control of the disbursement and the end use of the funds. This is to ensure that there is no diversion of funds. The fund appoints a project management company and quantity surveyors to keep a track of site-level expenses.

Govt in consultation with different sectors on economic reforms: FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman addressed the media after meeting tax officials. She also said that she is in consultation with industry bodies and sectoral interventions have been announced from time to time. To a question on whether there's slowdown in the economy or not, the finance minister refused to acknowledge it. Govt in consultation with different sectors on economic reforms: FM Nirmala Sitharaman

Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15

The government has asked banks to clear by March 15 about 1.18 lakh pending loan applications under the Prime Minister Employment Generation Programme (PMEGP), which promotes self-employment through setting up of micro enterprises.

Ikea not to pass on duty hike impact on imported furniture to customers

In the Union Budget 2020 announced on February 1, Finance Minister Nirmala Sitharaman announced to increase customs duty on imported furniture from the present 20 per cent to 25 per cent. The move was aimed to protect the interest of the MSME segment. Ikea opened its first store in the country in Hyderabad in August 2018.

India's GDP seen growing at 4.7% YoY in December quarter, with virus impact to come

Economy will fare slightly better in the Dec quarter, before suffering a relapse due to the impact of coronavirus.

ET Awards 2019: Nirmala Sitharaman and Piyush Goyal to address powerpacked industry audience

From revival measures to RCEP, from tax changes to trading rules for eCommerce, Sitharaman & Goyal are two ministers in the Modi cabinet whose decisions have made headlines and impacted bottom lines. In less than a fortnight, business leaders will get the opportunity to listen to these two policymakers, who directly influence the country's policy changes.

Nirmala Sitharaman lays out roadmap for better governance of PSU banks

The finance minister also announced that banks can now recruit Chief Risk Officer from the market, at market-linked compensation levels to attract best available talent.

Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: Nirmala Sitharaman

The surplus distribution policy of RBI is determined in accordance with section 47 of the RBI Act, 1934, Sitharaman said in a written reply to Lok Sabha.

PNB, OBC and United B​​ank to be merged, says Nirmala Sitharaman

Continuing with NDA's public sector units (PSU banks) merger agenda, Finance Minister Nirmala Sitharaman today met the chiefs of public sector lenders and announced the merger of PNB, OBC, United Bank of India. In another announcement, FM announced the merger of Canara bank with Syndicate Bank. In third announcement, Union Bank will be merged with Andhra Bank and Corporation Bank. In fourth consolidation of banks, Allahabad Bank will be merged with Indian Bank.PNB, OBC and United B​​ank to be merged, says Nirmala Sitharaman

Nirmala Sitharaman announces big reforms for Public Sector Banks: Key highlights

Finance Minister announced amalgamation of ten public sector banks into four big banks.

Bank ATMs start dispensing more of Rs 500 notes instead of Rs 2,000

Banks have started dispensing more of Rs 500 notes than Rs 2,000 denomination notes, a move seen as gradual phasing out of the high denomination currency note.

Govt closely monitoring coronavirus impact on economy: FM Sitharaman

Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the coronavirus outbreak on the Indian economy.

Proposed LIC IPO to benefit insurance industry: Fitch

Fitch said it expects that the initial public offering (IPO), once executed, may also encourage some of the other private sector insurance companies to list some of their shares in the stock market over the medium term.

There will be more announcements on measures to boost economy in coming weeks: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman today said the government will announce more measures to boost economy in the coming weeks. According to some reports, the next package may be announced for the realty sector which has been hit hardest due to current slowdown and credit crunch due to NBFC issues. There will be more announcements on measures to boost economy in coming weeks: Nirmala Sitharaman

Govt to announce more measures to boost economy: Nirmala Sitharaman

The government has recognised that consumption needs a boost, says Nirmala Sitharaman.

Will announce more measures to boost economy in the coming weeks: Nirmala Sitharaman

Recognising the need to boost consumption ​​in the country, Sitharaman said the government will spend considerable amount on infra.

Cube Highways plans InvIT to sell a part of its road assets

The move comes after the government removed the tax barrier for private placement of InvITs in the budget, putting them at par with publicly listed ones. Cube will hive off its operating assets into an infrastructure investment trust or InvIT and place it privately with other investors, said three people with direct knowledge of the development.

People from many industries are coming to us and saying they are out of distress: Nirmala Sitharaman

Commenting on her decision to slash corporate tax, the finance minister said that the industry has told her that the decision was taken at the right time and that it has made a big difference to their books. She said that the decision was announced on September 20 and industry will take time in announcing major investment decisions.

Don't overreach, overstate: FM Nirmala Sitharaman to tax authorities

Sitharaman spoke to reporters here after meeting officials of the Central Board of Indirect Taxes, Customs, Income Tax department, GST and representatives from trade associations in Pune.

Don't want any company to shut operations: Nirmala Sitharaman says will address concerns of Telecom Sector

NEW DELHI: The government doesn’t want any phone companies shutting down and is looking at support that can be given to the debt-laden telecom sector that’s been saddled with additional dues on account of last month’s Supreme Court ruling on adjusted gross revenue (AGR).“I want no company to shut operations,” finance minister Nirmala Sitharaman said on Friday in response to a query on the telecom sector. “I want all companies to flourish & serve their customers.”Don't want any company to shut operations: Nirmala Sitharaman says will address concerns of Telecom Sector

Tax collection targets very much achievable: Nirmala Sitharaman

Sitharaman said the government wanted entrepreneurs to work without any worry.

HUL to set up subsidiary to save on tax

The new subsidiary, which has an authorised capital of Rs 2,000 crore, has been formed to leverage on enablers, including corporate tax as well as ‘Make in India’ initiative, said the company.

4 real estate companies from three cities requests to avail bailout fund: Nirmala Sitharaman

Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.

4 real estate companies from three cities requests to avail bailout fund: Nirmala Sitharaman

Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

FM said the government will bring legislations on raising bank deposit cover from the current Rs 1 lakh.

FM Nirmala Sitharaman makes startup bets less taxing for angels

Union finance minister Nirmala Sitharaman announced a slew of relief measures for a slowing economy, including the scrapping of the “angel tax” for startups.

E-payments industry counts the costs after zero MDR jolt

From the growth of UPI payments, it’s clear more users are embracing this instrument. But with a billion transactions a month being recorded now, the failure rate — when the payment is not completed — is also increasing. In absence of revenue, banks and apps may not invest funds to upgrade the infrastructure, fear industry experts.

Papers show Netas not kept in loop on ending disability benefits for soldiers

The withdrawal of tax exemptions, which impacted lakhs of retired soldiers, was triggered by officers of the defence ministry’s finance wing who did not have jurisdiction over the matter. Papers show that neither defence minister Rajnath Singh nor finance minister Nirmala Sitharaman were kept in the loop when the decision was taken.

Are Nirmala Sitharaman’s announcements good enough to reverse a slowing growth?

If a fiscal stimulus is off the table, FinMin has to keep tweaking rules to make things easier for businesses.

Penalty rather than prosecution is the priority of the Government: Nirmala sitharaman

Penalty rather than prosecution is the priority of the Government: Nirmala sitharaman, Finance Minister at media briefing.Penalty rather than prosecution is the priority of the Government: Nirmala sitharaman

Volatility in global economy, India is in a safe position: Nirmala Sitharaman

Volatility in global economy, yet India is in a safe position. Since 2014 the Government is treating 'reforms' as a continues agenda: Finance Minister at media briefing. Volatility in global economy, India is in a safe position: Nirmala Sitharaman

No Angel Tax for DPIIT registered startups: FM Nirmala Sitharaman

The angel tax had been in the spotlight in the past with the startup ecosystem calling it an unfair tax burdening the community.

Govt to seek NABARD's help for procuring farm produce in J&K: Nirmala Sitharaman

"Now I'm ensuring that I will take the chairman of NABARD to J&K even if it's winter now because I want ... the next crop of saffron, peaches and walnuts and other agri produce of J&K to get that kind of support which through NABARD the central government can extend to Jammu and Kashmir," said Finance Minister Nirmala Sitharaman.

Ravi Shankar Prasad dials FM Nirmala Sitharaman for telecom relief

The minister seeks cut in levies such as licence fee, GST after meeting industry leaders.

States should dismantle APMCs, adopt eNAM for farmers' benefit: Nirmala Sitharaman

e-NAM is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities.

Nirmala Sitharaman discusses macro situation, budget planning

This was Sitharaman’s first such meeting after she took charge as the finance minister.

'Vivad se Vishwas' scheme: Cases in arbitration abroad eligible, says I-T dept

The I-T department issued advertisements in leading dailies saying the scheme was a "golden opportunity... to settle income tax disputes" and bridge trust deficit. The public message spells out the main features of the scheme proposed by Union finance minister Nirmala Sitharaman in her Budget speech on February 1

Govt to seek NPA relief for companies hit by coronavirus

The move follows a petition from some industry representatives to finance minister Nirmala Sitharaman to not just relax the norms but also ensure access to funds to tide over payment issues that may arise due to problems in accessing inputs and critical raw material.

Have a house in a stalled project? Here's all you need to know about Nirmala Sitharaman's realty fund

Last week, FM Nirmala Sitharaman had a bunch of relief-laden announcements to make for the stressed real estate sector. The cabinet approved a Rs 25,000-crore special window to provide funding to housing projects that are stuck, with the aim of reviving the key sector, providing a boost to the economy and bringing relief to home-buyers. Watch now.Have a house in a stalled project? Here's all you need to know about Nirmala Sitharaman's realty fund

RBI in discussion with institutions; efforts on to include G-Secs in global indices soon: Das

This was a long-pending suggestion of foreign investors that was addressed in Budget this year.

FM Nirmala Sitharaman rejects demand for rollback of customs duty on newsprint

The intention of the government was to make sure that Indian manufacturers of newsprint are promoted as they were suffering due to cheaper import.

FM Nirmala Sitharaman says corporate tax for companies to be cut gradually

Sitharaman said the corporate tax reduction for the rest of corporates would be gradual. She did not give a timeframe for the reduction.

Task force on Direct Tax Code submits report to FM Nirmala Sitharaman

The task force was supposed to submit its report by May 31, but the then finance minister Arun Jaitley gave two months extension to complete the exercise.

Budget 2020 was a missed opportunity: Kantar Frrole report

More than half the consumers surveyed felt they are worse off financially since the past 12 months, a two-fold jump from a year ago in the number of such consumers. Also, about 48% housewives and 53% chief wage earners showed heightened concerns about their economic well being.

FM Nirmala Sitharaman's next stop to assess tax situation to be Varanasi

Sitharaman is keen on gaining ground-level feedback from both tax officers and taxpayers.

Industry is in a bad shape, but Airtel was always safe: Mittal

The reassuring words from one of the country’s most-experienced telecom executives comes amid heightened concerns over the ability of mobile companies, including Vodafone Idea and Airtel, to tide over the financial mess as they scramble to pay the government Rs 1.47 lakh crore, as ordered by the top court in the October 24 AGR judgment.

Covid-19 impact: Govt won’t penalise companies hit by supply shortages

The memo, issued by the department of expenditure under finance ministry, advised ministries that “disruption of supply chain due to spread of Covid-19 in China, or any other country, would be considered as a case of natural calamity and force majeure clause may be invoked in appropriate cases”.

PM-Kisan Scheme benefits not reaching tillers: RBI directors

The members of the board of Reserve Bank of India (RBI) have drawn finance minister Nirmala Sitharaman’s attention to the inefficacy of the government’s PM-Kisan Scheme and the plight of housing finance companies (HFCs) during their interaction with her last week.

AGR crisis: Mittal, Birla meet FM Sitharaman; Govt mulls telecom fund

With the Supreme Court-mandated liability pushing telecom companies to the brink, industry honchos Sunil Bharti Mittal and Kumar Mangalam Birla on Wednesday met Finance Minister Nirmala Sitharaman as their firms scrambled to meet payment deadlines. While the two refused to comment on discussions they had with Sitharaman, Mittal said the telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability. Govt is mulling a telecom fund to give soft loans to telcos. The fund according to sources, will be set up with the AGR dues paid by the telcos to the govt. Here's the full report by ET NOW's Nayantara Rai. Watch.AGR crisis: Mittal, Birla meet FM Sitharaman; Govt mulls telecom fund

To deal with coronavirus outbreak, companies seek easier labour norms, faster green approval

These were some of the measures suggested by the representatives of India Inc in a meeting on Tuesday with the FM to address concerns regarding supply disruption caused by the coronavirus outbreak in China. At the meeting, the quarantine period as well as the paperwork for goods being shipped into the country was also flagged.

J&K was integrated with country by scrapping Article 370: Nirmala Sitharaman

Addressing a programme here as part of the BJP's membership drive, Sitharaman also claimed that the decision had nothing to do with the party's ideology.

Nirmala Sitharaman's real estate fund: Everything a home buyer should know

According to FinMin's FAQs, the focus of the Special Window is on mid and affordable segment. "However, alleviating the stress for developers in this segment may have indirect benefits for the entire real estate sector including luxury segment."

FM Nirmala Sitharaman says still in talks with PMO in reviving sentiment

Sitharaman refused to say if government is planning to come out with a stimulus package to arrest the deepening slowdown, or ruled the possibility of one either.

FinMin pins hope on global pension funds to buy into India’s infra play

Global pension funds with $40 trillion of assets under management will now look at India’s infrastructure sector more favourably because of the elimination of dividend distribution tax (DDT), senior officials in the finance ministry said.

NPA, NCLT-referred housing projects applicable for funding, says FM Nirmala Sitharaman

The two earlier conditions that, a project should not be NPA and non NCLT can only benefit, has been withdrawn. Even if a project has been declared Non Performing Asset but liquidation has not been announced it will be eligible for this provision: FM Nirmala SitharamanNPA, NCLT-referred housing projects applicable for funding, says FM Nirmala Sitharaman

Govt approves Rs 25,000 cr fund to complete stalled housing projects: Nirmala Sitharaman

The government on Wednesday approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings, as it looks to boost growth by steering consumption in real estate and associated sectors. The move is likely to help 4.59 lakh housing units across the country.Govt approves Rs 25,000 cr fund to complete stalled housing projects: Nirmala Sitharaman

Coronavirus outbreak: Govt reviews impact, to soon announce measures, says FM Sitharaman

The government will soon announce measures to deal with the impact of Coronavirus outbreak on the domestic industry, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was addressing media after meeting representatives of the industry to review the situation following the outbreak of the deadly virus in China. Sitharaman said she would hold a meeting with the secretaires of different ministries tomorrow and then announce steps to deal with the situation in consultation with the Prime Minister's Office.Coronavirus outbreak: Govt reviews impact, to soon announce measures, says FM Sitharaman

Will better safety help smaller banks wean depositors away from MFs?

Budget proposed to raise the insurance cover on bank deposits to Rs 5 lakh from Rs 1 lakh.

Finance Minister to meet industrialists, trade associations to asses COVID-19 impact

Finance Minister Nirmala Sitharaman is set to meet industry and trade associations in New Delhi to assess the impact of coronavirus disease 19 (COVID-19) on Indian trade and industry. The viral outbreak comes at a time when the Indian economy is going through a difficult phase and the virus outbreak could make the slowdown worse.

ESOPs rising post Budget as startups do the math

Employees at young startups now have the option of deferring ESOP tax payments.

ESOP tax sops not for all startups on DPIIT list, says CBDT

In her budget speech on February 1, Finance minister Nirmala Sitharaman had announced that employees at startups exempt under Section 80-IAC could defer paying income tax on stock options for a period of five years or until they quit the company or sell their shares.

Coronovirus: CII says Government should set up joint task force to gauge impact

The government should consider setting up a joint task force with the industry to check the economic spillover of the Covid-19 outbreak in China, the Confederation of Indian Industries (CII) has said.

Waiting for DoT’s position on AGR dues: Sitharaman

Finance minister Nirmala Sitharaman said on Monday she would wait to hear the telecom ministry’s stance on the arrears from telecom operators, before expressing her views on the issue.

Govt working with RBI to tweak existing laws to help real estate sector: Nirmala Sitharaman

Finance minister Nirmala Sitharaman while addressing media at the silver jubilee celebration of NSE said that govt is working with RBI to address issues facing realty sector. Govt working with RBI to tweak existing laws to help real estate sector: Nirmala Sitharaman

RBI Guv: Govt must continue reforms; green shoots of recovery need to sustain

While Finance Minister Nirmala Sitharaman's Budget for 2020-21 and recent steps have created a facilitating eco-system for reviving demand and consumption through a push on infrastructure projects, it is necessary to undertake land and labour reforms, bring efficiencies in agri marketing and focus on skill development, the RBI governor said.

Finance Ministry to assess impact of coronavirus outbreak on trade

"On the impact of coronavirus outbreak and any disruptions to Make in India or to Indian export/import, Finanace Ministry is scheduled to hold a meeting on Tuesday 18 Feb. Stakeholders are welcome." Union Finance Minister Nirmala Sitharaman tweeted on Sunday.

New optional tax regime may adversely affect savings in India: Experts

Finance Minister Nirmala Sitharaman in Budget 2020-21 provided option to personal income tax payers to remain in existing tax scheme with exemptions and deductions or opt for a new simplified tax regime with lower tax rates but without exemptions and deductions.

Budget was disappointing for lacking vision; but fiscal, taxation measures welcome: EAC-PM member Ashima Goyal

Goyal, who is a part-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), said that it was a "surprise" not to have a mention of the word 'slowdown' in the nearly three-hour long speech by the FM. The budget document is a "balancing act" between fiscal stimulus to drive growth and the need to be responsible on spending, she said.

FPIs remain net buyers in Feb, invest Rs 24,617 crore

FPIs have been net buyers in the Indian markets since September 2019, the data showed.

IMG clears BPCL sale bid documents, to be issued after ministerial group nod

An inter-ministerial group has approved sale bid docs for privatisation of India's 2nd biggest oil refiner.

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