County Union Financial News

27.07 / 09:56

Waters economy Research Bill Trade country G20 Sherpa Amitabh Kant calls for consistent sugar policy, industry seeks export relief

sugar sector, which he said would be crucial in making India a developed economy by 2047. Kant's comments come as the industry presses for lifting a sugar export ban and increasing the minimum selling price of sugar in line with cane prices, among other demands.

27.07 / 02:53

markets COST Strategy information Invested in debt MF before 1 April 2023? You may pay 40% higher tax on gains

The withdrawal of indexation benefits on debt mutual funds, as outlined in the Union Budget for 2024-25, has left investors re-evaluating their strategies. The new policy, which affects funds purchased before 1 April 2023, imposes a flat 12.5% tax rate on gains without the previous indexation advantage. This change significantly increases tax liabilities compared to the prior 20% rate with indexation, making it a pivotal moment for investors who relied on indexation to reduce tax burdens, compelling a re-assessment of portfolio strategies.

26.07 / 18:27

markets UPS Puzzle Research show Investors shrug off tax hikes and weak earnings, drive Nifty up 1.76%

₹7 trillion on Friday as institutions scooped up cash shares and derivatives, backed by retail participation through mutual funds. Market veterans were puzzled by the surge, which follows the surprise tax hikes in the Union budget and weak earnings in the banking sector. The Union budget raised the long-term capital gains tax on profits from share sales to 12.5% above ₹1.25 lakh from 10% above ₹1 lakh, while increasing the short-term capital gains tax to 20% from 15% earlier.

26.07 / 10:21

markets security economy Trade country social orienteering Are LTCG tax rates in India too high? Here is a look at tax rates in other major economies

capital gains tax rates across countries to those in India, we observe a range of approaches, from straightforward percentage rates to complex systems with multiple conditions.

26.07 / 05:22

markets Analysis Research Bill reports How the Budget affects your LTCG tax on immovable property

In the Union budget for 2024-25, among the 85 proposed amendments in the Finance (No. 2) Bill, 2024, the revision concerning the taxability of long-term capital gains (LTCG) from the sale of immovable property, effective 23 July 2024, has garnered significant attention.

25.07 / 10:33

Provident Remark DAL Discrimination Govt gave shells in name of peanuts in budget, says RJD MP Manoj Jha

Bihar and Andhra Pradesh got «pakoda and jalebi» in the budget, Rashtriya Janata Dal (RJD) MP Manoj Jha on Thursday said the government has actually given «shells in the name of peanuts». Asked about Kharge's remarks on the Union Budget 2024-25 in the Rajya Sabha, on Wednesday, Jha said, «I will talk to Kharge ji, and also say it in the House, they (government) have given shells in the name of peanuts».

24.07 / 16:26

UPS Aware Election Experts Discrimination Kharge's 'mataji', 'pakoda-jalebi' jibe at FM as he raises alleged discrimination against states in Budget

Kharge on Wednesday said Bihar and Andhra Pradesh got «pakoda and jalebi» on their plates while other states got nothing as he raised the issue of alleged discrimination meted out to opposition-ruled states in the Union Budget. Engaging in raillery and hurling barbs at Finance Minister Nirmala Sitharaman in the House, the Congress veteran called Sitharaman «mataji» and said she is an expert in speaking, prompting Chairman Jagdeep Dhankhar to quip that she was more like his daughter.

24.07 / 12:43

markets Digital Booking wellness reports testing Commentary HUL: Gradually improving outlook to test investors’ patience

MUMBAI : Hindustan Unilever Ltd’s (HUL's) shares dropped close to 2% on Wednesday, which can be attributed to profit booking given that the stock had gained about 12% in the past one month in anticipation of potential positive announcements in the Union Budget 2024-25. It should be noted that the commentary of HUL’s management while announcing the June quarter (Q1FY25) results on Tuesday after market hours, though not too exciting about business conditions, is largely positive. The management said it expects FMCG sector and rural demand to continue improving gradually.

24.07 / 12:05

UPS Citi Bill stage reports Got raw deal in budget, no point in attending NITI Aayog meeting, says Deputy CM Shivakumar

Karnataka Deputy Chief Minister D K Shivakumar on Wednesday defended the Congress government's decision to boycott the July 27 meeting of the NITI Aayog, saying the State has got a raw deal in the Union Budget and its interests have not been protected. Chief Minister Siddaramaiah said on Tuesday the decision was taken as a mark of protest against the "neglect" of the state's demands in the Union Budget.

24.07 / 11:51

UPS Citi Fighting Metro Injustice stage "Raw deal in budget": Karnataka to boycott July 27 Niti Aayog meet to be chaired by PM

Niti Aayog meeting scheduled for July 27 in Delhi to protest what Chief Minister Siddaramaiah called “raw deal” to the state in the budget Finance Minister Nirmala Sitharaman presented on Wednesday.

24.07 / 11:02

markets UPS Target country blues inclusion Budget to boost leather and footwear sector, says Rajendra Kumar Jalan, Chairman, CLE

Union Budget 2024-25 will stimulate exports and employment generation in leather and footwear sector, acording to Rajendra Kumar Jalan, Chairman, Council for Leather Exports (CLE).

24.07 / 10:37

UPS Provident FIVE economy Research wellness innovations A nine-lane expressway ahead: Sitharaman's plans to speed up India

Union Budget presented by Finance Minister Nirmala Sitharaman yesterday was unique among all the budgets presented by her in that it offered a long-term roadmap for a developed India, an aim set by the government called Viksit Bharat. At the start of the Parliament’s Budget session, a day before the budget was presented, Prime Minister Narendra Modi said the budget will further the goal of a ‘Viksit Bharat’ by 2047.

24.07 / 02:10

Digital Landmark Healthcare country innovations Schools International Abolition of angel tax marks a landmark reform benefiting startups: US India Forum

angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem, the US India Strategic and Partnership Forum (USISPF) said Tuesday and applauded the proposal in the Union budget to reduce tax rates for the foreign companies to 35 per cent. «India has long been a country of engineering and tech talent, yet there have been gaps in the innovation ecosystem. The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem. This important reform will stimulate increased startup funding from both domestic and international sources,» the US India Strategic and Partnership Forum (USISPF) said.

23.07 / 17:43

markets ETF Budget 2024: What changes in capital gains tax mean for investors

MUMBAI: In the Union Budget 2024-2025, the government has introduced significant changes to the capital gains tax framework. New tax rates on capital gains for various asset classes are poised to impact many investors.

23.07 / 16:29

Provident WhatsApp innovations ICAI says budget proposals aim to boost growth, improve ease of doing biz

ICAI on Tuesday said simplifying taxes, improving taxpayer services, providing tax certainty and reducing litigation are the four cornerstones of the tax proposals in the Union Budget. Welcoming the proposals in the 2024-25 Budget, the Institute of Chartered Accountants of India (ICAI) also said the Budget focuses on employment, skilling, MSMEs (Micro, Small & Medium Enterprises) sector and the middle class.

23.07 / 13:10

COST Provident Digital information Courts Budget: eCourts project gets Rs 1500 crore; digitisation records part of initiative

eCourts project's third phase, which seeks to upgrade the digital infrastructure of the lower judiciary, has been allocated Rs 1,500 crore in the Union Budget 2024-25. In September last year, the Union Cabinet had approved the third phase of the eCourts project as a central sector scheme with a financial outlay of Rs 7,210 crore.

23.07 / 13:04

UPS Provident wellness 2020 Updates orienteering Budget 2024: New income tax slabs, capital gains tax, key tax changes that impact salaried, other taxpayers

Budget 2024 presented today by the finance minister Nirmala Sitharaman, will impact the personal finance of individuals in multiple ways. Here's a round-up.

23.07 / 07:03

UPS Provident security Justice social travelers BHEL, NTPC jump 3% on FM's PSU partnership announcement

BHEL and NTPC jumped nearly 3% to Rs 314.25 and Rs 385, respectively, after Finance Minister Nirmala Sitharaman announced a partnership between the two PSU companies under the Energy Security Scheme in the Union Budget. Sitharaman on Tuesday announced that NTPC and BHEL will set up an ultra-critical thermal power plant using AUSC Tech to promote one out of 9 Budget priorities of Energy security.

23.07 / 04:27

markets security Election wellness Trade song Budget bombshells: 3 nightmares that stock investors fear from Nirmala Sitharaman’s speech

Dalal Street has been brimming with confidence that Nirmala Sitharaman will continue singing the good old capex song in the Union Budget once again today, there are fears that the dharma of coalition politics might have a bearing on government policies as well. The tough ask for Sitharaman is to balance welfare spending without losing the grip over capex. The consensus view on Dalal Street is that strong economic momentum, robust GST collection, asset monetisation and record RBI dividend can help the government deliver on both.

22.07 / 08:08

Target economy WhatsApp reports Department Economic Survey 2023-2024: India's fiscal deficit to drop to 4.5% or lower by fiscal 2026: Economic Survey

fiscal deficit is expected to drop to 4.5 per cent of GDP or lower by fiscal 2026, according to the Economic Survey 2023-2024.

21.07 / 09:03

Manufacturing Sustainability trends Experts country innovations Destinations What Budget 2024 can do to get foreign investors to bet on India

Union Budget for 2024-25, expectations are high for measures that will stimulate economic growth and attract foreign investment. Businesses are waiting with bated breath to see what reforms and reliefs are introduced for the financial year ahead. It is expected that Union Budget would be an agent of change in ushering India towards the long-enumerated feat of realizing $5 trillion economy by the government.

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