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PM Narendra Modi said he has not seen so many positive announcements in the first hour of a Budget speech earlier.
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Customs duty on copper scrap is reduced from 5% to 2.5% while customs duty on cotton is hiked from 0% to 10%. The duty on raw silk and silk yarn is also raised from 10% to 15%. To support domestic manufacturing in the solar sector, the duty increased for solar inverters from 5% to 20%. […]
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The finance minister Nirmala Sitharaman reduced customs duty on gold and silver from 12.5% to 7.5%. She noted that Gold and silver presently attract a basic customs duty of 12.5%. Since the duty was raised from 10% in July 2019, prices of precious metals have risen sharply. To bring it closer to previous levels, we […]
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The Finance Minister has stated in the budget that the gross market borrowing target is at Rs 12 lakh crore for FY22. We will approach the market for additional Rs 80,000 crore to fund FY21 fiscal deficit, the FM stated. We hope to get back on the fiscal consolidation path by FY26, she added. The […]
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Finance Minister Nirmala Sitharaman proposed today in her Budget speech that the government will launch a national monetisation pipeline for potential brownfield infrastructure assets. Highway infra work proposed include building 8,500-km of highways by March 2022, she noted. Powered by Capital Market – Live News
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The Finance Minister has proposed raising the FDI cap in the insurance sector to 74% from 49% currently. Finance minister also stated that the initial public offering (IPO) of Life Insurance Corporation of India (LIC) will be out in FY22. She noted that legislative amendments to this effect will be launched in the Parliament in […]
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Finance Minister Nirmala Sitharaman announced the voluntary vehicle scrappage scheme to phase out old vehicles to curb environmental pollution and oil imports. The fitness of personal vehicles will be checked after 20 years and those of commercial vehicles after 15 years. Powered by Capital Market – Live News
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The unforeseen and unexpected circumstances during the pandemic led to weak revenue and high expenditure to provide relief to vulnerable sections. The government has estimated India’s fiscal deficit for the current financial year at 9.5% and has set a target at 6.8% for the financial year 2022. A fiscal deficit is a shortfall in a […]
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Finance Minister Nirmala Sitharaman proposed an allocation of Rs 1,10,055 crore towards the railways sector in her Budget speech for FY2022. She noted further that of this, Rs 1.07 lakh crore is for capital expenditure for FY22. The eastern and western dedicated freight corridors will be commissioned by June 2022 and 100% electrification of broad-gauge […]
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The Finance Minister in the budget has proposed increasing the foreign direct investment limit in the insurance sector from 49% to 74% in the budget 2021-22. Currently, the FDI limit is capped at 49 per cent. The finance minister further stated that foreign companies will be allowed to own insurance companies subject to conditions. The […]
