Finance Minister Nirmala Sitharaman also said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years.
Posts tagged Rediff
Mobile phones, cars: What’s cheaper, costlier (01-02-2023)
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Senior Citizens Savings Scheme limit raised to Rs 30L (01-02-2023)
The FM also proposed that the maximum deposit limit for Monthly Income Account Scheme will be enhanced from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account.
Mukesh Ambani is once again world’s richest Indian (01-02-2023)
Reliance Industries chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023. Ambani overtook Adani after the Reliance Industries chairman’s assets went up 0.19 per cent with an increase of wealth by $64 million while Gautam Adani’s assets went down by 4.62 per cent with the industrialist’s weath pegged at $84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday. Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani.
FM announces new credit guarantee scheme for MSMEs (01-02-2023)
In her Budget 2023-24 presentation, she also said the Centre will launch the ‘Dekho Apna Desh’ initiative to promote domestic tourism.
66% hike in Pradhan Mantri Aawas Yojana outlay (01-02-2023)
Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the Pradhan Mantri Aawas Yojana (PMAY) outlay to Rs 79,000 crore.
No tax on income up to Rs 7 lakh, surcharge cut to 25% (01-02-2023)
Finance Minister Nirmala Sitharaman in her fifth Union Budget made five major announcements for the income tax assesse. She announced no changes in the old tax regime and confined her relief measures to the new tax regime. There have been no changes under the old tax regime.
PAN to be common identifier for govt agencies: FM (01-02-2023)
The move would help in further promoting ease of doing business in the country.
Govt to bring Vivad Se Vishwas-2 scheme (01-02-2023)
The Vivad Se Vishwas scheme provides for settlement of disputed tax, disputed interests, disputed penalty or disputed fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.
Fiscal deficit to be brought down under 4.5%: FM (01-02-2023)
Fiscal deficit would be brought down to below 4.5 per cent by 2025-26, Finance Minister Nirmala Sitharaman said on Wednesday. She also said that tax receipts for the next fiscal are budgeted at Rs 23.3 lakh crore and states would be allowed 3.5 per cent of GDP as fiscal deficit. To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at Rs 11.8 lakh crore, Sitharaman said while presenting the Union Budget for 2023-24 in the Lok Sabha.