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%
Category: Daily Factly articles
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
Economic Survey 2019 big ideas: Rationalise minimum wages architecture
According to the Economic Survey 2019,India needs to have a mandatory national-level minimum wage to promote social justice and curb distress migration. At present,minimum wages are fixed on the basis of the skill level, geographical areas,nature of work.This has led to a proliferation of minimum wages making enforcement a challenging task. The Survey’s recommendations are… Continue reading Economic Survey 2019 big ideas: Rationalise minimum wages architecture
Economic Survey 2018-2019 proposes to raise retirement age
The Economic Survey 2019 has suggested that the government should increase the retirement age from the current 60 years.The survey cited improved life expectancy for this move. The survey has said that India is set to witness a sharp slowdown in population growth over the next two decades. The total fertility rate which is a… Continue reading Economic Survey 2018-2019 proposes to raise retirement age
Economic Survey moots central welfare database of citizens
According to the Economic Survey,the government can improve its delivery of public goods and services by creating a central welfare database of citizens by merging various existing databases. The survey said that the government can collect four kinds of data namely (a)administrative data (b)survey data (c)transactions data and (d) institutional data The administrative data can… Continue reading Economic Survey moots central welfare database of citizens
