Ministry of Finance Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs5% Health Cess proposed to give impetus to the Domestic Medical Equipment Industry; proceeds to be used for creating health infrastructure in aspirational districtsAnti-dumping duty on PTA being abolished in the larger public interestBasic customs duty on imports of news print…
MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore| Budget 2020
Ministry of Finance MSMEs turnover threshold for Audit increased 5 times to Rs 5 CroreIncreased limit to apply only to Businesses carring out less than 5% of their business transactions in cashSignificant tax relief to start-ups In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and…
A Corruption-Free, Policy Driven good Governance and a Clean & Sound Financial Sector to Ensure Ease of Living to All Citizens
Ministry of Finance A Corruption-Free, Policy Driven good Governance and a Clean & Sound Financial Sector to Ensure Ease of Living to All CitizensNational Recruitment Agency Proposed For Conduct of Computer-Based Online Common Eligibility Test for Recruitment to Non-Gazetted PostsNew National Policy on Official Statistics to use Latest Technology to Enable Real Time Monitoring of…
Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime | Budget 2020
Ministry of Finance Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime‘Vivad Se Vishwas’ scheme proposed to reduce litigations in direct taxes; scheme to remain open till 30th June, 2020Faceless appeals proposed to eliminate human interface for imparting greater transparency in dispute settlementCBDT to adopt a taxpayers’ charter; details to be notified soonPan to…
‘Ease of Living’ – central Tenet of Union Budget 2020-21 | Budget 2020
Ministry of Finance ‘Ease of Living’ - central Tenet of Union Budget 2020-21Budget interwoven around themes of Aspirational India, Economic Development and a caring societyBackdrop of budget provided by proliferation of cutting edge technologies alongwith highest ever cohort of productive age populationAim to achieve seamless delivery of services, improve physical quality of life, mitigate disaster…
Enhanced Insurance Cover for Exporters; Affordable and Accessible Credit; Reduction in Interest Rates; FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21
Ministry of Commerce & Industry Enhanced Insurance Cover for Exporters; Affordable and Accessible Credit; Reduction in Interest Rates; FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21 The Finance Minister, Nirmala Sitharaman, announced the NIRVIK scheme in the Union Budget 2020-21 in Parliament today. It will provide high insurance cover for exporters and reduce…
FM Announces Setting up of Investment Clearance Cell to Provide “End-To-End” Facilitation and Support to Youth #Budget2020
Ministry of Commerce & Industry Sovereign Wealth Fund of Foreign Governments in Priority Sectors to Get 100% Tax Exemption in Interest, Dividend and Capital Gains IncomeEncourages Manufacture of Mobile Phones, Electronic Equipment and Semi-Conductor Packaging The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman, has said that entrepreneurship has always been the strength of…
Fiscal deficit at 3.8% in 2019-20 (Re) and 3.5% for 2020-21(Be); return path committed to Fiscal Consolidation without compromising on Investment | Budget 2020
Ministry of Finance Fiscal deficit at 3.8% in 2019-20 (Re) and 3.5% for 2020-21(Be); return path committed to Fiscal Consolidation without compromising on InvestmentProjected fiscal numbers are credible, transparent and compliant with FRBM act, assures Finance Minister21% increase in capital expenditure for Fy 2020-21Recommendation of XV finance commission’s first report accepted in substantial measure: Finance…
Summary of Union Budget 2020-21 | Budget2020
Ministry of Finance PART-A Presenting the first Union Budget of the third decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long term measures. The Union Budget has been structured on the overall theme of…
National Logistics Policy will be Released Soon
Ministry of Commerce & Industry Policy to Create a Single Window E- Logistics MarketWill Generate Employment and Make MSMES Competitive - Nirmala Sitharaman A National Logistics Policy will be released soon and it will clarify the roles of the Union Government, State Governments and key regulators said Finance Minister, Nirmala Sitharaman. She was presenting the…