Thu, Feb 01, 2018
“The government will expand the coverage under Prime Minister Jan Dhan Yojana by bringing all sixty crore basic accounts within its fold,” said the Finance Minister.
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India's fiscal deficit stands at Rs 6,12,105 crore in just eight months of FY19, overshooting the budgeted estimate (BE) target by 112% for the current financial year.
Thu, Jan 25, 2018
Transactions through digital means rose 6.05% to 1.06 billion in December 2017 from 997.1 million in November.
Wed, Feb 01, 2017
The government has pushed for affordable housing for the poor in Budget 2017 .
Relaxation in individual income tax (for income up to Rs 5 lakh) will boost consumer buying power.
Know about India's Union Budget 2017-18 in two minutes
The government has alloted a sum of Rs 19,000 crore for the curent fiscal under Pradhan Mantri Gram Sadak Yojana, (PMGSY).
The government will also launch two new schemes to promote the usage of the BHIM app.
Jaitley said that a common application form for registration, opening of bank and demat accounts, and issue of PAN will be introduced for Foreign Portfolio Investors (FPIs).
Finance Minister Arun Jaitley presented India's Union Budget 2017-18 in the Lok Sabha in New Delhi on Wednesday.
Jaitley announced that the threshold limit for audit of business entities who opt for presumptive income scheme increased from Rs 1 crore to now Rs 2 crore.
The suggestion to ban cash transaction above Rs 3 lakh has been accepted by Special Investigation Team on Black Money.
A surcharge of 15% will be applicable on income above Rs 1 crore to continue.
Small business will now have to pay 5% less income tax, which brings it to the 25% level.
Read the key highlights of India's Union Budget 2017-18 presented on February 1, 2017
Find out the five key announcements Finance Minister Arun Jaitley made in his Union Budget 2017-18 for India's healthcare sector on February 1.
The optical fibre cables will now be increased to cover over 1.50 lakh gram panchayats from over 75,700 lakh currently.
Jaitley also said that the government has allocated a record Rs 48,000 crore for 2017-18 from 37,000 in 2016-17 for MGNREGA.
Arun Jailtey says that the Budget for 2017 will be with the approach has been to spend more on rural areas, infrastructure and poverty alleviation.
The divestment income targets seems to be too aggressive for FY17 and hence expected to see a shortfall.
Besides the increase in the tax slabs there is also expected to be an increase in the exemptions under 80C.
There could also be a hike in the service tax rates to get get it in alignment with the GST rates.
After the presentation of Economic Survey on Tuesday, the indices took a hit by closing nearly 1% down.
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