ECONOMY & NATION


IANS 02 February 2023
Both houses of Parliament were adjourned till 2 p.m. on Thursday amid noisy protests by Congress-led opposition parties over research group Hindenburg's report on Adani Group.   As soon as Lok Sabha convened for the day, opposition members rushed to the Well raising...

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Yogesh Sapkale Yogesh Sapkale 01 February 2023
While increasing the income-tax (I-T) rebate limit to Rs7 lakh from Rs5 lakh under the new tax regime, Union finance minister (FM) Nirmala Sitharaman revised taxation slabs for individuals. After revision, taxpayers with an income of Rs15 lakh and above will have to pay 30% tax. Earlier, this...

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Moneylife Digital Team 01 February 2023
Union minister of finance and corporate affairs Nirmala Sitharaman presented the Union Budget 2023-24 in the Parliament.    PART A   Per capita income has more than doubled to ₹1.97 lakh in around nine years. Indian economy has increased in size from being 10th to...

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IANS 01 February 2023
Economic growth is expected to slide in the current fiscal, even as India is among the bright spots in the prevailing global scenario marred by fluid geopolitical circumstances, as per the fiscal policy statement presented by finance minister (FM) Nirmala Sitharaman along with the Union...

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IANS 01 February 2023
For commemorating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025, Finance Minister (FM) Nirmala Sitharaman said while announcing the Union Budget 2023-24 on...

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Moneylife Digital Team 01 February 2023
While presenting the Budget 2023, finance minister (FM) Nirmala Sitharaman proposed to increase tax collected at source (TCS) on certain foreign remittances and the sale of overseas tour packages. There is no change in the tax for education or medical purpose.    Section 206C of the...

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IANS 01 February 2023
The Central government on Wednesday said that to further provide impetus to green mobility, customs duty exemption is being extended to the import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles—a move hailed by the EV...

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IANS 01 February 2023
With aim to promote domestic manufacturing, Union Finance Minister Niramala Sitharaman, in Budget 2023-24, provided relief in customs duty on import of certain parts and inputs like camera lens and lithium-ion cells for batteries for mobile phones for another year.   She also proposed...

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IANS 01 February 2023
Paying heed to the consumer electronics industry's demand, the Centre on Wednesday reduced basic Customs duty (BCD) on import of certain mobile phone parts and inputs like camera lens and continued the concessional duty on lithium-ion cells for batteries for another year.   Finance...

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IANS 01 February 2023
The Centre on Wednesday announced to extend the tax holiday scheme for startups till March 31, 2024, which means that startups incorporated till the latest date next year can avail tax benefits.   The tax holiday scheme was earlier available for startups incorporated till March 31,...

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Moneylife Digital Team/ IANS 01 February 2023
Shanti Bhushan, former Union law minister, acclaimed civil rights lawyer and powerful crusader against corruption, died on Tuesday at the age of 97. Mr Bhushan famously represented the maverick socialist leader Raj Narain at the Allahabad High Court against then-prime minister Indira Gandhi...

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Moneylife Digital Team 31 January 2023
Despite the global headwinds, India is projected to log a growth rate of 6%-6.8%, the fastest amongst the major global economies, while inflation is expected to remain below 6%, within the Reserve Bank of India (RBI)'s targeted range, the Economic Survey for FY22-23 says.   Union...

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Moneylife Digital Team 31 January 2023
Union minister for finance and corporate affairs Nirmala Sitharaman presented the Economic Survey 2022-23 in the Parliament.    Here are the highlights of the Survey…   State of the Economy 2022-23: Recovery Complete    • Recovering from...

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The prime minister's office (PMO) on Tuesday told the Delhi High Court that the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund is not a public authority according to the Right to Information Act, 2005 and not a 'State' under Article 12 of the...

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Arun Kumar (The Leaflet) 31 January 2023
The Union government initiated the Electoral Bonds scheme, which was announced in the Union Budget 2017–18, on January 2, 2018. The aim was “to cleanse the system of political funding in the country”. While many other issues are also germane, the moot question is will this goal be...

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The common narrative of Indian women's low labour force participation rate (LFPR) misses the reality of working females integral to the economy of the household and the country, the Economic Survey for 2022-23 said.   There is a need to broaden the horizon of measuring work, which...

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Jaysukh Patel, managing director (MD) of Oreva group and the prime accused in the Morbi bridge collapse that left at least 132 persons dead in October last year, was on Tuesday sent to judicial custody after surrendering before the judicial magistrate's court.   Mr Patel surrendered a...

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At least three shocks have hit the global economy since 2020, Economic Survey for 2022-23 has noted.   In general, global economic shocks in the past were severe but spaced out in time. This changed in the third decade of this millennium.   It all started with the...

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The Economic Survey for 2022-23 has forecast that growth is expected to be brisk in FY24 as a vigorous credit disbursal, and capital investment cycle is expected to unfold in India with the strengthening of the balance sheets of the corporate and banking sectors.   The current growth...

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A Gandhinagar court on Tuesday sentenced self-styled godman Asaram Bapu, whom it had convicted in a 2013 rape case, to life imprisonment.   The court has also ordered   Additional District Sessions Judge D.K. Son, after hearing prosecution and defence lawyers, announced the...

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