Budget 2020 News
RBI Governor Shaktikanta Das says no reason to doubt govt will meet fiscal deficit targets
Throwing his weight behind Finance Minister Nirmala Sitharaman's budget numbers, Reserve Bank Governor Shaktikanta Das has said that there is no reason to doubt that the government will be able to cut fiscal deficit to 3.5 percent of the GDP in the fiscal beginning 1 April
RBI Governor Shaktikanta Das says govt must continue reforms; green shoots of recovery need to sustain
Reserve Bank Governor Shaktikanta Das on Monday said that on the back of countercyclical measures undertaken by the government, structural reforms need to be continued to revive demand and support the economy
Moody's cuts India growth projection to 5.4% for 2020 from 6.6% projected earlier; cites slower than expected economic recovery
Moody's Investors Service on Monday slashed India's growth forecast to 5.4 percent for 2020 from 6.6 percent projected earlier on slower than expected economic recovery
No timeline to remove I-T exemptions; intention to give simplified reduced rate of income tax: Nirmala Sitharaman
Addressing a post-Budget press conference on 1 February, Sitharaman had said the government intended to remove all I-T exemptions in the long-run.
Govt willing to do more beyond Budget to boost growth says Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21
Urgent need for more ambitious structural, financial sector reform measures in India: IMF
The IMF in January lowered India's economic growth estimate for the current fiscal to 4.8 percent
Nirmala Sitharaman hits back at Chidambaram, says nothing to learn from those who gave NPA crisis
Finance Minister Nirmala Sitharaman on Tuesday hit back at former minister P Chidambaram for his 'incompetent doctors' attending to economy remark, saying there was nothing to learn from the people who gave the mountain of NPAs along with twin balance sheet crisis
Budget proposals on DDT, personal tax not to impact MF industry: Franklin Templeton Mutual Fund
The proposed changes in Dividend Distribution Tax (DDT) and the new income tax system announced in the budget will not have any adverse impact on the mutual fund industry that showed resilience and maintained robust growth amid economic headwinds, a senior mutual fund official said
Economy not in trouble; green shoots visible with country moving towards $5 trillion economy: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday said the economy is not in trouble and green shoot are visible with the country moving towards a $5 trillion economy
Economy close to collapse; rising unemployment, falling consumption making India poorer: P Chidambaram
Former finance minister P Chidambaram on Monday tore into the Modi government's handling of the economy, saying it was close to collapse and was been attended by "very incompetent doctors."
Govt clocks Rs 40,000 cr in public procurement transactions through online marketplace GeM; eyes to increase turnover to Rs 3 lakh cr
Public procurement worth Rs 40,000 crore has taken place through the government's online marketplace GeM, Expenditure Secretary T V Somanathan said on Monday
Budget 2020: Centre laid foundation for $5 trillion economy by 2024-25, focussed on increasing consumption, says Nirmala Sitharaman
Nirmala Sitharaman also pitched for rationalisation of GST rates once a year and not every three months as was the trend so far.
Govt moves towards simplifying tax regime; LIC IPO will benefit retail investors: Nirmala Sitharaman
The finance minister said that taxpayers' charter is based on the idea that taxation regime should be on the foundation of trust among citizens.
Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary
The finance ministry expects at least 80 percent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday
Budget 2020 provides 'discreet and considered' stimulus, says Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Friday said the budget presented by her last week provides a "discreet and considered" stimulus
Budget 2020 did not end woes of aam aadmi; Nirmala Sitharaman opened a Pandora's Box with removal of tax exemptions instead
While the introduction of a new personal tax regime with reduced rates made the aam aadmi happy, the Finance Minister opened a Pandora’s Box with the denial of various exemptions/deductions.
Budget 2020 farmer-friendly; takes steps to enhance rural employment livelihood opportunities
The allocation announced by Finance Minister Nirmala Sitharaman for rural development in the Union Budget is notable.
Budget 2020: Nirmala Sitharaman's fiscal math seems to have put worst behind; economy set to rebound with proposals announced
The Budget brought more clarity on the fiscal deficit side by pegging the deficit figures at 3.8% of the GDP for FY 2019-20 and 3.5% for FY 2020-21, showing a deviation of 0.5% from the fiscal glide path.
Confused between old vs new tax regime? Compare using I-T dept's new e-calculator
The Income-Tax Department has launched an e-calculator for individuals to estimate their tax liability if they opt for the new tax slabs, without claiming deductions and exemptions, for ITR filing as announced in the recent Budget, officials said on Thursday
RBI holds policy rates: Central bank is caught in a tight spot to balance growth and inflation worries
The Budget announced by finance minister Nirmala Sitharaman was a lost opportunity to revive the demand scenario