The Union Budget for 2024-25 — Finance Minister Nirmala Sitharaman’s seventh in a row and the twelfth Budget of the Narendra Modi government — departs significantly from all previous Budgets presented by this government in its approach towards managing India’s economy. Budgets serve two essential purposes. They provide details about a government’s finances, how much the government earned, how much it spent, and how much it borrowed during the past financial year, and what its projections are on all these three counts for the next financial year. Too much borrowing…
Month: July 2024
Noida Airport to Aerocity in just 66 mins? By 2030, this super-fast rapid rail will make it a reality | Delhi News
In five years, a super-fast rapid rail will take you from the upcoming Noida International Airport (NIA) to Delhi’s Sarai Kale Khan in less than an hour. Going to Delhi Aerocity, meanwhile, will take just 66 minutes. This will be made possible by the 72-km-long Rapid Rail-Metro corridor that will connect Ghaziabad RRTS station with NIA in Jewar. In a crucial step towards securing approval for the project, the National Capital Region Transport Corporation (NCRTC) has submitted a revised detailed project report (DPR) with changes to the Yamuna Expressway Industrial…
Health sector | Customs duty cut on 3 cancer drugs: Hope for patients | India News
In her Budget speech Tuesday, Finance Minister Nirmala Sitharaman said, “To provide relief to cancer patients, I propose to fully exempt three more medicines from customs duties,” she said, referring to trastuzumab deruxtecan, osimertinib and durvalumab, three targeted therapy drugs with effective treatment outcomes that work by precisely identifying and inhibiting the growth of cancer cells. At present, these patented drugs, which are imported, are prohibitively expensive, costing around Rs 5 lakh a month, keeping it out of reach for most patients. Which is why, Sitharaman’s announcement – of slashing…
PMGSY stretches into 4th phase: 25,000 villages to be linked with all-weather roads | India News
Finance Minister Nirmala Sitharaman announced Phase IV of Pradhan Mantri Gram Sadak Yojana (PMGSY) to connect 25,000 villages with all-weather roads, and allocated an outlay of Rs 19,000 crore for the financial year 2024-25. She also announced three crore additional houses under Pradhan Mantri Awas Yojana in rural and urban areas. Of these, 2 crore homes will be constructed in villages under PMAY-Gramin (PMAY-G) with an allocation of Rs 54,500 crore. The Jal Jeevan Mission has been allocated Rs 69,926.65 crore, Sitharaman said in her Budget speech. While the overall…
Budget 2024: From divestment to kickstarting private investment, the many silences | Business News
THE SLUGGISH PACE of investments by Corporate India has been possibly the biggest policy conundrum leading up to the first Budget of the NDA government’s third term under Prime Minister Narendra Modi. However, the Union Budget speech for 2024-25 is silent on why private sector investments haven’t quite commenced despite the corporate tax breaks in 2019, the significant ramping up of government’s capex over the last few years, the improving profitability of India Inc, and healthy bank balance sheets. On Monday, the Economic Survey, authored by Chief Economic Advisor V…
Nigerian national gets bail in Cordelia drug raid case | Mumbai News
The Bombay High Court Tuesday granted bail to a Nigerian national arrested by the Narcotics Control Bureau (NCB) in connection with the Cordelia cruise ship drug raid case in October, 2021. He was the last accused in the case who was yet to get bail from the courts. Chinedu Igwe from Nigeria was arrested by the NCB claiming that ecstasy tablets weighing 15 g were seized from him. Igwe had approached the HC after the special court designated under Narcotic Drugs and Psychotropic Substances (NDPS) Act had rejected his bail…
French leftist alliance selects Lucie Castets as candidate for new prime minister | World News
France’s leftist New Popular Front, which won the most seats in high-stakes legislative elections earlier this month, said Tuesday it has selected Lucie Castets, a civil servant unknown to the public, as their candidate to be the new French prime minister. The announcement came shortly before President Emmanuel Macron is scheduled to appear in a nationally broadcast televised interview Tuesday evening, in hopes of ending weeks of political deadlock. Castets, a senior civil servant, graduated from Sciences Po, the London School of Economics, and the École Nationale d’ Administration. She…
Market watchers slam hike in long term capital gains tax, say will discourage savings, investments | Pune News
Market watchers said Union Finance Minister Nirmala Sitharaman’s move to hike long term capital gains (LTCG) tax from 10 per cent to 12.5 per cent will discourage savings and investments. “Just when the stock market has been having a good run for a long time, the news dampened the spirits… It is an unnecessary move,” Gaurav Bora of Laksh Financial Solutions told The Indian Express. “By making taxation change in long term capital gain from 10% to 12.5% and in short term capital gain from 15% to 20%, the government…
Calculate your Income Tax for the Financial Year 2020-2021 and Assessment Year 2021-2022 As per Budget 2020
The Leading News Web Site Economic Times of India Published Nice Income Tax Calculator for the Financial Year 2020-2021 and Assessment Year 2021-2022 As per Budget 2020. You can calculate your Income Tax Liability for the Financial Year 2020-21 As per New Income Tax Slab and as per the New and Old Income Tax Section as defined by the Finance Minister of the India in the Budget 2020. CLICK HERE TO CALCULATE YOUR INCOME TAX CALCULATOR ONLINE FOR THE FINANCIAL YEAR 2020-2021
Tripura Human Rights Commission serves notices to DGP, DMs over recent violence at Gandatwisa, asks for report in 3 weeks | India News
Expressing dismay over the recent violence at Tripura’s Gandatwisa in Dhalai district and alleged inaction of the police authorities in arresting the culprits, the Tripura Human Rights Commission (THRC) served notices and asked director general of police (DGP) and the district magistrate to submit a report within three weeks on their actions taken in this case. The three-member THRC panel headed by its chairperson S C Das said they were shocked to see reports in the news media about the large-scale violence, arson, looting etc, at Gandatwisa and no registration…