Page 22 - Budget 2020

Budget 2020: Govt proposes to cut import duty on newsprint to 5% from 10%

The total consumption of standard newsprint in India is 2.5 million tonnes and the indigenous mills have a capacity of 1 million tonnes only, the INS had said

Income Tax slabs to fiscal deficit, all the key points from Budget 2020

Govt estimates economic growth this fiscal year, which ends on March 31, will slip to 5% - its weakest pace since the global financial crisis of 2008-09

Budget 2020: FM Sitharaman's sops to boost affordable housing projects

Rs 1.5 lakh benefit on interest paid on affordable housing loans extended by a year; Tax holiday for developers; industry hails initiatives

Budget 2020: FM Sitharaman proposes easing of tax payments for startups

During their formative years, startups generally use ESOPs to attract and retain highly talented employees, she added

Budget lacks solutions to revive growth, focuses more on praising PM: Cong

Calling the Union budget "insipid" and lacking in stimulus for growth, the Congress on Saturday said the government's annual financial statement comprises piecemeal measures, repackaged schemes, jugglery of tax slabs and has no real solutions to solve the economic crisis. Senior Congress leader Ahmed Patel said that at a time when India is in the midst of an economic downturn, Finance Minister Nirmala Sitharaman's budget speech focuses more on praising the prime minister rather than helping the common citizen. "Longest Budget speech is also the most lacklustre budget ever. After Acche Din, New India, it now appears that the government has also abandoned the target of USD 5 trillion economy," Patel said in a series of tweets. This budget confirms not only the bankruptcy of the economy but also a bankruptcy of government's ideas, he claimed. "Piecemeal measures, repackaged schemes, jugglery of tax slabs & no real solutions to solve the present economic crisis," Patel said referring .

Budget 2020 proposes cut in tax on cooperative societies to 22% from 30%

Sitharaman also announced extending by one year the date of approval of affordable housing projects for availing tax holiday on profit earned by developers

FM Sitharaman speaks for 160 min, cuts short Budget speech after fatigue

Sitharaman had only two pages of her Budget speech unread when she appeared uneasy and was seen wiping sweat from her forehead

Dividend distribution tax to be levied on individuals instead of firms: FM

FM also proposed deferment of tax payment by employees on employee stock ownership plan from startups by five years

New scheme to provide subordinate debt to MSME entrepreneurs to be launched

The government has also asked the Reserve Bank to extend the Debt Restructuring window for micro, small and medium enterprises by a year to March 31, 2021

National logistics policy soon to make MSMEs more competitive: Sitharaman

Explaining further, she said the proposed policy will clarify the role of the Centre, states and also key regulators

100 more airports to be developed by 2025 to support UDAN scheme: FM

Presenting the Budget for 2020-21, Sitharaman said Rs 1.7 lakh crore has been provided for transport infrastructure in 2020-21

Budget introduces 5 tax slabs, lower rates for those foregoing exemptions

Under the proposal, people with an annual income of Rs 5 lakh to Rs 7.5 lakh will have to pay a reduced tax rate of 10 per cent; between Rs 7.5 lakh and Rs 10 lakh 15 per cent

Nominal GDP growth for FY21 estimated at 10%, says FM Sitharaman

Sitharaman said income tax rates will be significantly reduced for those who forego reliefs, exemptions

Budget 2020: Healthcare sector allocation rises to Rs 69,000 crore

Ayushman Bharat gets a boost as hospitals to be developed under PPP mode; Jan Aushadhi scheme to be expanded to every district

Govt mulls to amend PFRDA Act; to separate it from NPS Trust: FM Sitharaman

FM Sitharaman also said that the government will help ease in mobility while in jobs

Budget 2020: Insurance cover for bank depositors to be raised to Rs 5 lakh

Finance Minister Nirmala Sitharaman on Saturday said the government has permitted DICGC to raise deposit insurance coverage by five times to Rs 5 lakh. Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. Deposit insurance coverage will be enhanced from Rs 1 lakh to 5 lakh per depositor, the Finance Minister said her Budget speech in Lok Sabha. At present, the DICGC provides Rs 1 lakh insurance to a depositor regardless of deposit in case the lender fails or liquidated.

Budget 2020 plans to increase FPI limit in corporate bonds from 9% to 15%

In her second Budget presentation, the finance minister said certain government securities will be open for foreign investors

NIRVIK scheme to provide high insurance cover for exporters: Sitharaman

The ministry has also proposed to subsidise the premium under the scheme that has to be paid by exporters of certain key sectors

Clean, robust financial sector key to achieve $5 trillion economy: FM

Presenting the Budget for 2020-21, Sitharaman said robust mechanism is in place to monitor health of all commercial banks and asserted that depositors' money is absolutely safe

Budget 2020: Rs 30,757 cr for J&K; Ladakh gets Rs 5,958 cr for FY21

The finance minister also proposed major reform in recruitment of non-gazetted staff