In the Budget speech,the finance minister has hailed the benefits that were provided by National Common Mobility Card(NCMC). National Common Mobility Card (NCMC) also known as One Nation One Card is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. The transport card enables the user… Continue reading Budget Briefs: Government to push ‘One Nation One Card’ to enable seamless mobility
Author: ForumIAS
Budget Briefs:Government proposes creation of a social stock exchange
Finance Minister has announced the setting up of a Social Stock Exchange(SSE) under the Securities and Exchange Board of India(SEBI) for listing of organisations which work for social welfare. The minister said that the exchange would help social and voluntary organisations which work for social causes to raise capital as equity or debt or a… Continue reading Budget Briefs:Government proposes creation of a social stock exchange
Budget Briefs:Stand-Up India Scheme extended till 2025
Union Minister has said that the Stand Up India Scheme has been extended up to the year 2025. Stand-Up India Scheme Facilitates bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe(ST) borrower and at least one woman borrower per bank branch for setting up a greenfield… Continue reading Budget Briefs:Stand-Up India Scheme extended till 2025
Budget Briefs:Education
Finance minister has announced that an amount of Rs. 400 crore has been provided for FY 2019-20 to create “World Class Institutions” in the field of education. She said that five years ago there were no Indian institutes featuring in the Top 200 of the QS World University Rankings.However,now three institutes feature in the list.… Continue reading Budget Briefs:Education
Budget Briefs: RBI can supersede NBFC board
The government has decided to strengthen regulatory authority of Reserve Bank of India (RBI) over non-banking financial companies (NBFCs). Finance Minister has said that the RBI will now be the regulator of Housing finance companies(HFC) replacing the National Housing Bank(NHB). According to the Finance Bill,2019,RBI can now remove the director of an NBFC and even… Continue reading Budget Briefs: RBI can supersede NBFC board
Budget Briefs:Taxation
Corporate Tax: The lower rate of 25 % Corporate Tax will be extended to all companies with annual turnover up to Rs. 400 crore.Currently,this rate is only applicable to companies having annual turnover up to Rs. 250 crore.This will cover 99.3 percent of the companies. Pre-filing of Income-tax Returns: Pre-filled tax returns will be made… Continue reading Budget Briefs:Taxation
Budget Briefs: Growth capital for public sector banks
Finance Minister in the Budget 2019 speech has announced that the public sector banks(PSBs) will be provided with a capital infusion of Rs 70,000 crore. This bank recapitalisation is aimed at bolstering the capital base of the state-owned banks.It will also give a much-needed boost to the stressed banks who are under pressure owing to… Continue reading Budget Briefs: Growth capital for public sector banks
Budget Briefs: A shot in the arm for struggling MSMEs
Presenting the Budget 2019-20,the finance minister has unveiled a slew of initiatives and new provisions to tackle issues related to the Micro, Small and Medium Enterprises(MSME) sector in the country. The Finance Minister has announced that Rs 350 Crore will be allocated for 2% interest subvention for all GST registered MSMEs on fresh and incremental… Continue reading Budget Briefs: A shot in the arm for struggling MSMEs
Budget Briefs: Fiscal deficit target revised downwards to 3.3%
Finance Minister has announced the fiscal deficit target for 2019-20 at 3.3% of GDP from 3.4% set in the Interim Budget presented on February 1, 2019. Fiscal deficit is the amount of money that the government needs to borrow in a given year because their expenses were more than their revenues. The main reason for… Continue reading Budget Briefs: Fiscal deficit target revised downwards to 3.3%
Budget Briefs:Policy Measures to promote Growth and Employment Generation in Indian Economy
The Tax Policy Measures in the direction of Growth and Employment generation are: Profit-linked deduction was introduced for start-ups. The scope of investment-linked deduction was broadened by including certain new sectors including infrastructure which are critical to growth. Investment allowance and higher additional depreciation was provided for undertakings set up in backward regions of states… Continue reading Budget Briefs:Policy Measures to promote Growth and Employment Generation in Indian Economy
