New Delhi: The Delhi High Court on Tuesday asked Jet Airways promoter Naresh Goyal to submit Rs 18,000 crore in bank guarantees in order to be allowed to travel abroad. “If you can give Rs 18,000 crore as bank guarantee, then you can go,” said Justice Suresh Kait while refusing to grant interim relief to Goyal […]
Category: Business
Feud between IndiGo promoters turns into full-blown war
New Delhi: The crisis at the country’s largest private carrier IndiGo seems to be deepening with the dispute between the promoters of the airline turning ugly. The differences had been earlier been presumed to be a minor one by many industry experts but it now transpires that it has snowballed into a full-blown war. Airline […]
Budget extends tax on NRIs for receiving gifts from resident Indians
New Delhi: The expensive gift that you kept for your overseas cousin or friend may attract tax from this year with the Budget 2019-20 proposing to impose withholding tax all such transfers, plugging an earlier loophole that allowed its tax- free treatment. The Finance Bill 2019 has imposed tax on any sum of money paid […]
Budget proposes to lower 25% tax for more firms, industry says not enough
New Delhi: Companies with annual turnover of up to Rs 400 crore would attract lower corporate tax of 25 per cent with the Union Budget proposing to extend the benefit to these firms. Currently, lower corporate tax applies to firms with an annual revenue of up to Rs 250 crore. The move is set to […]
‘Ayushman Bharat’ gets big boost in Budget
New Delhi: The Modi government has hiked the spending on health by around 18 per cent with allocation for the flagship ‘Ayushman Bharat’ scheme, said to be one of the major reasons for people re-electing the BJP-led National Democratic Alliance (NDA), jumping from Rs 2,400 crore to Rs 6,400 crore. Union Health Minister Harsh Vardhan welcomed […]
Union Budget to boost rural employment: experts
New Delhi: The allocation of Rs 60,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Programme (MNREGA) in the Union Budget presented on Friday is expected to boost employment in rural areas, experts told IANS. The programme, which aims to enhance livelihood security in rural areas, had been allocated a sum of Rs 55,000 […]
75% hike in agri allocation, yet experts not happy
New Delhi: With an outlay of Rs 75,000 crore for the PM KISAN scheme, the Modi government in the maiden Budget of its second term has allocated Rs 1,51,518 crore to the agriculture sector, which is a whopping 75 per cent hike year-on-year. However, many experts are not happy with the Budget 2019-20 as they […]
Budget proposes PAN-Aadhaar interchangeability, simpler e-filing
New Delhi: Seeking to ease the compliance burden, Union Finance Minister Nirmala Sitharaman has proposed a slew of measures including interchangeability of PAN and Aadhaar and faceless assessment in electronic mode with no human interface. “India’s Ease of Doing Business ranking under the category of ‘paying taxes’ showed a significant jump from 172 in 2017 […]
‘Bahikhaata’ budget angers middle class on social media
New Delhi: The moment after the “bahikhaata” Union Budget was presented on Friday, people took to social media platforms that erupted with angry and perplexed reactions. “Your folder is sanskaari, symbolising ‘departure from slavery of western thought’, but your aspirations are 3 trillion ‘US DOLLARS’ economy, huh hypocrite!” tweeted a user. Finance Minister Nirmala Sitharaman […]
No gear shift in defence spending
New Delhi: Finance Minister Nirmala Sitharaman did not lose purse strings to fund modernisation of the armed forces in the Union Budget presented on Friday, as the allocation for defence remained on the lines of the interim Budget presented earlier this year as the outlay stood at Rs 3.18 lakh crore. Defence allocation did not […]