Photo: Forbes
GST Collection 2021; Economy Slightly Recovers From The Pandemic Hit
GST Collection in the month of September exhibits slight traces of economic recovery from the pandemic compared to 2020. The Tax revenue for the month of September alone crossed over Rs 1,17,010 crores which was 23% higher than the tax collected last year in the same period. The higher tax collection will help the government balance the Budget Deficit of 31% that arose due to lockdowns during the second wave.
Tags: GST, GST collection, Tax Revenue, Union Budget 2021, Budget deficit
Courtesy: The Economic Times
Photo: India.com
Rural Development Min To Assist In Centre's Land Monetisation Push
Adding thrust to the budget’s ‘asset monetisation’ mantra, the Rural Development Ministry has offered its support to the Centre in identifying the idle assets and land parcels available with ministries. The ministry claimed to have comprehensive record of over 90% villages while assuring assistance in ascertaining the market value and transfer of lands available. Earlier, the Finance Ministry, in the budget document, had stated to monetise… read-more
Tags: Asset Monetisation, Union Budget 2021, Rural Development Ministry, Idle Asset, Land Parcel, FINANCE MINISTRY
Courtesy: The Economic Times
Photo: Oneindia
Oxfam Study Finds Nirbhaya Fund Going Underutilised, Underfunded
A report by Oxfam India surfaced that funds allocated to Nirbhaya fund largely go "unutilized" and "underfunded." The study revealed that Rs 4357.62 crore funds allocated during 2019-20 remained unused owing to the unclear mechanism. Besides, schemes like 181 women helpline, Swadhar Greh and Fast Track Courts received grim 0.07% of 2021-22 budget allocations. Reportedly, the Nirbhaya Fund was launched in 2013 after the 2012 brutal… read-more
Tags: Women Safety, Union Budget 2021, nirbhaya, One Stop Centre, Fast Track Court, Women Helpline
Courtesy: The Print
Photo: The National
25 Central Ministries Spends Less Than 80% Of The Allocated Fund
Budget documents show that 25 Central Ministries have spent less than 80% of the money that was allocated to for 2020-21. Reportedly, the aforementioned Ministries already operate with significantly smaller budgets and were less than 10 in number for the past three years. The Ministries have collectively spent 44% of their budgetary capital expenditure of Rs 90,000 crore. However, the lower utilization of funds affects their allocation for… read-more
Tags: Union Budget 2021, union ministry, FY21, Budget
Courtesy: LiveMint
Photo: The Economic Times
3 Poll-Bound States Get Special Attention In Union Budget 2021
Announcing the Union Budget 2021-22, Finance Minister Nirmala Sitharaman gave a preference to poll-bound states -Kerala, Assam, and West Bengal. Eyeing assembly elections, Minister Sithraman allocated Rs 65,000 crore for roads and highways in Kerala. Moreover, for road and infrastructure development in West Bengal and Assam, the Finance Minister has allocated Rs 25,000 crore and Rs 3,400 crore respectively. The polls in West Bengal and Kerala… read-more
Tags: Nirmala Sitharaman, Finance Minister, Union Budget 2021
Courtesy: The Indian Express
Photo: NewsBust India
PM Modi Stresses On Farm Laws Deferment Offer At All-Party Meet
PM Narendra Modi stressed on the Centre’s offer to defer the farm laws for 18 months in the pre-budget all-party meet called on January 30. Saying that the government is just a "phone call away” for talks with farmers, he expressed the Centre's commitment towards ending the impasse with a dialogue. As for violence at the Red Fort on the Republic Day, he said the "law will take its own course."
Tags: Narendra Modi, All-Party Meet, Union Budget 2021, Farm Bill, Farmers' Protest
Courtesy: Hindustan Times
Photo: The Blue Circle
Eelectric Vehicle Market Eyes GST Cuts, Duty Refunds In 2021 Budget
Pandemic affected electric vehicle industry expects a decrease in raw materials' GST rates and a position in the priority sector lending list from the upcoming Budget. Ather Energy CEO Tarun Mehta said that the government must allow inverted duty refunds for R&D to minimize working capital blockage. Kinetic Green Founder Sulajja Firodia Motwani had echoed similar thoughts and asked implementation of FAME II scheme up to 2025.
Tags: Electric Vehicles, Union Budget 2021, FAME II Policy, Lowered GST Rates
Courtesy: New Indian Express
Photo: India TV News
Ahead Of Budget 2021, Film Industry Veterans Meet FM Sitharaman
A group of influential figures from the film industry, including BJP MP Sunny Deol, met Finance Minister Nirmala Sitharam on January 23, ahead of the budget session on February 1. The team explained the problems and appealed to consider relief measures towards the pandemic-hit film industry. The meeting was led by the joint Managing director of PVR Pictures Sanjay Kumar Bijli. Reportedly, the Minister has assured to "certainly consider the… read-more
Tags: Union Budget 2021, Nirmala Sitharaman, Finance Minister, Bollywood
Courtesy: Times Now
Photo: Gulf News
FM Nirmala Hosts Customary Halwa Ceremony, Launches App For Budget
Ahead of the Union Budget 2021-22, Finance Minister Nirmala Sitharaman hosted the customary 'Halwa Ceremony' at the North Block of the Finance Ministry headquarters on January 23. The traditional ceremony signifies the initiation of the printing process of the Union Budget. Moreover, the Finance Minister launched the Union Budget Mobile App for facilitating uncomplicated access of budget documents to all Members of Parliament and the general… read-more
Tags: Union Budget 2021, Finance Minister, Nirmala Sitharaman, halwa ceremony
Courtesy: NDTV
Photo: DNA India
Soft Copies, Advance Halwa Ceremony In COVID-19 Stiff 2021 Budget
For the first time in history, the Union budget will be released in virtual mode and soft copies will be provided to all the 750 members owing to the Covid-19 pandemic. While presenting a unified general and railway budget, the government will also conduct the traditional ‘Halwa ceremony’ 10-days before the Budget day. As per reports, the Union Budget 2021 will be introduced by Finance Minister Nirmala Sitharaman on February 1.
Tags: Union Budget 2021, FINANCE MINISTRY, Nirmala Sitharaman
Courtesy: Times Now
