Union Finance Minister Nirmala Sitharaman on April 1 announced the roll back of recent orders related to the slashing of interest rates on small saving schemes. Taking to Twitter, the FinMin stated that "the rates which existed in the last quarter of 2020-21" shall be continued. Earlier, on March 31, the government had slashed the interest rates on small schemes, including PPF and NSC, by up to 1.1%.
Courtesy: Hindustan Times
Finance Minister Nirmala Sitharaman, on March 26, released the BJP's manifesto for Puducherry Assembly Elections. Pointedly women-centric, the manifesto vows loan waivers and interest-free credit for self-help groups, 50% reservation in government institutions, free KG education and public transportation, besides accessible healthcare. Additionally, the manifesto, addressing education, employment and tourism, promised a separate school… read-more
Courtesy: The Hindu
The Centre has increased the deposit threshold limit of provident fund from Rs 2.5 lakh to Rs 5 lakh on March 23. Reportedly, the interest received on the newly exceeded amount would also be tax-exempt. However, the tax exemption can only be enjoyed by only those individuals who do not contribute to the retirement fund. Earlier, the FinMin Nirmala Sitharaman, during budge, vowed to tax individuals for contributions over Rs 2.5 lakh.
Finance Minister Nirmala Sitharaman on March 20 stated the government will look for alternative sources of crude oil supply. She said the new chains will ensure a sustained fuel procurement. However, the minister assured that it will not affect the fuel prices in the nation. Meanwhile, both the Centre and State governments will deliberate on the impact of rising fuel prices, She added. Besides, Sitharaman informed, food inflation was being… read-more
Union Minister Anurag Thakur has confirmed the government has not printed any Rs 2000 note in the last two years. Reportedly, Thakur gave the reply to a question asked by MDMK MP A Ganeshamurthi over less circulation of Rs 2000 notes. Besides, citing demand-based currency printing, Thakur said the decision of printing different denominations lies with RBI and the Centre. Notably, the Rs 2,000 note accounted for only 35% of the total… read-more
Minister Anurag Thakur on March 9 stated that the Centre has no plans of imposing any new taxes on diesel and petrol. Earlier during Budget 2021, Finance Minister Nirmala Sitharaman had announced agricultural tax at Rs 2.5 and Rs 4 on petrol and diesel respectively. Moreover, answering to question on the inclusion of petroleum products in the GST ambit, Thakur said, inclusion “will require the recommendation of the GST Council."
The Punjab government, in its budget statement on March 8, announced to waive off agricultural loans of 1.13 lakh farmers, amounting to Rs 1,186 crore. Presenting the budget with a total outlay of Rs 1,68,015 crore for the financial year 2021-22, the government has also stated to waive off Rs 526 crore of landless farmers. Besides, State Finance Minister Manpreet Singh Badal has also raised old-age pension from Rs 750 to Rs 1,500.
Courtesy: The Tribune
Finance Minister Nirmala Sitharaman on March 5 lashed out at US-based 'Freedom House' for demoting India in freedom index and publishing wrong Indian map. Sitharaman said, "How do I take you seriously when you don't have our map right and comment on matters so intrinsic as freedom in country like India." Earlier, the Information and Broadcasting Ministry also rejected the "Democracy Under Siege" report which had downgraded India from "free"… read-more
Courtesy: The Tribune
The Uttar Pradesh government on February 22 presented a budget of Rs 5,50,270.78 crore for the year 2021-22. Aiming for UP's all-round development, the state's Finance Minister Suresh Kumar Khanna claimed the step towards making the state "Aatmanirbhar." Reportedly, the state’s first e-budget and largest allocation also exceeded Rs 34,410 crore compared to last year. Moreover, the Yogi government’s fifth budget also exhibited new schemes… read-more
Courtesy: The Economic Times
Opposing Centre’s decision to privatise two public sector banks, the United Forum of Bank Unions (UFBU) on February 9 called for a two-day strike starting from March 15. Reportedly, this year's Budget witnessed the FinMin stipulating the privatisation of two PSBs under its disinvestment strategy. Earlier, the Centre had privatised IDBI Bank and had merged 14 PSBs in four years. Calling the alterations regressive, UFBU has exhibited resentment… read-more
Courtesy: The Hindu