THE GOVERNMENT plans to talk to the top 500 companies and mutually agree on a “voluntary quota system” for taking on board interns under the employment package announced in the Budget 2024-25. The “quota system” would be based on the Corporate Social Responsibility (CSR) expenditure of these companies, Finance Secretary TV Somanathan told The Indian Express. “Details are yet to be worked out, and will be done in consultation with the industry. We might perhaps have some kind of voluntary quota system, mutually agreed upon, saying that you will take…
Tag: GDP growth
Making sense of the Budget | Explained News
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…
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…
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…