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
Author: ForumIAS
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
Budget Briefs: Tax break to rev up electric vehicle sales
The Government has proposed a slew of measures to boost electric vehicles(EVs). The government has already moved to the Goods and Services tax (GST) council to lower the GST rate on electric vehicles from 12% to 5%. Besides,the government will also give an additional tax benefit of Rs 1.5 lakh on the interest paid on… Continue reading Budget Briefs: Tax break to rev up electric vehicle sales
Budget Briefs:India to move towards harnessing its space capability commercially,New Space India Limited (NSIL) incorporated towards this end
Finance minister has said that New Space India Limited (NSIL) has been incorporated as a new commercial arm of the Department of Space. The Company will spearhead commercialization of various space products including production of launch vehicles, transfer of technologies and marketing of space products. The new company will be licensed by the DoS/Isro, which… Continue reading Budget Briefs:India to move towards harnessing its space capability commercially,New Space India Limited (NSIL) incorporated towards this end
Budget Briefs:Government to encourage and facilitate role of women in India’s growth story
The government has proposed to expand the women self help groups (SHGs) interest subvention programme to all districts. The minister has proposed that for every verified women Self Help Group (SHG) member,having a Jan Dhan Bank Account an overdraft of Rs.5,000 will be allowed. One woman in every SHG will also be made eligible for… Continue reading Budget Briefs:Government to encourage and facilitate role of women in India’s growth story
Budget Briefs:Government to bring greater ease of living through technology
Finance minister has said that the government aims to bring greater ease of living in the lives of its citizens. This can be achieved through the use of technology as digital payments are gaining acceptance everywhere including by the Government. The Finance Minister also said that about 30 lakh workers have joined the Pradhan Mantri… Continue reading Budget Briefs:Government to bring greater ease of living through technology
Budget Briefs:Government proposes measures to deepen Corporate Debt markets
Finance minister has said that the government will work with the Reserve Bank of India(RBI) and Securities and Exchange Board of India(SEBI) to deepen the corporate debt market with a special focus on infrastructure. The minister also announced that a Credit Guarantee Enhancement Corporation will be set up in the current fiscal year as part… Continue reading Budget Briefs:Government proposes measures to deepen Corporate Debt markets
