Big push for capex: Finance Minister Nirmala Sitharaman eases norms for expenditure over Rs 500 cr
New Delhi: The finance ministry has eased rules for expenditures exceeding Rs 500 crore to speed up capital expenditure, which is set at Rs 11.11 lakh crore for the current fiscal year, News agency PTI reported.
New MSME credit assessment model for PSBs likely to be launched in March 2025: Report
New Delhi/IBNS: The new micro, small and medium enterprise (MSME) credit assessment model, based on digital footprints for public sector banks (PSBS), is expected to be unveiled by the end of March next year (2025), Business Standard reported, citing sources in the know.
FM Nirmala Sitharaman approves 'Navratna' status for four CPSEs
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Friday (August 30) approved the upgradation of four Central Public Sector Enterprises (CPSEs) to a Navratna status.
GST Council meeting next month to discuss tax rate rationalization: FM
New Delhi: Finance Minister Nirmala Sitharaman announced on Tuesday that the GST Council will discuss the rationalization of tax rates next month though a final decision on adjusting taxes and slabs will be made later.
Bank FD rates surge to 9.5%, now 47% of FDs held by senior citizens
New Delhi/IBNS: Bank fixed deposit (FD) interest rates have touched 9.5 percent, which is a significant development for the investors who believe in FDs as a critical foundation in their investment portfolio.
FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Saturday (Aug 10) urged banks to focus on ‘core banking’ and to bring in innovative products to mobilise deposits during a meeting with members of the Reserve Bank of India’s (RBI) Central Board of Directors, reports said.
GST on health and life insurance premiums may be reduced: Report
New Delhi/IBNS: The Goods and Services Tax (GST) rate on the premium paid on health and life insurance may be reduced as a proposal in this regard has been sent to the GST rate rationalisation committee, CNBC-Awaaz reported on Thursday (Aug 8) citing sources familiar with the development.
Govt to not go easy on Infosys over Rs 32,000 cr GST demand
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
Govt likely to raise STCG tax above 20% in future, says official
New Delhi/IBNS: The government is likely to consider further raising the short-term capital gain (STCG) tax rates in the coming years, Moneycontrol reported quoting a senior government official.
New Delhi/IBNS: Nitin Gadkari, the Union road, transport and highways minister, has written to finance minister Nirmala Sitharaman, seeking withdrawal of the 18 percent Goods and Services Tax (GST) on life and medical insurance premiums, reports MoneyControl.
iPhones get cheaper by up to Rs 6,000 after customs duty relief in Budget
New Delhi: Apple has reduced the prices of its iPhones by 3-4% across its entire range, allowing customers to save between Rs 5,100 and Rs 6,000 on Pro or Pro Max models.
Foreign investors pull out $1.27 billion from Indian stock market after Union Budget
Mumbai/IBNS: Foreign portfolio investors (FPIs) have taken out almost Rs 10,710 crore ($1.27 billion) from the Indian stock market in the last three days after the government, in the Union Budget, raised taxes on derivatives trades and on capital gains from equity investments, reports said.
Gold, silver prices plummet by Rs 4,000 after budget slashes custom duty
New Delhi: Finance Minister Nirmala Sitharaman announced a significant reduction in customs duties on gold and silver during her Budget presentation on Tuesday.
Real estate stocks fall after Budget removes indexation benefit on LTCG
Mumbai: Real estate stocks dropped following Finance Minister Nirmala Sitharaman's proposal to remove the indexation benefit for calculating long-term capital gains tax (LTCG) on real estate.