Nirmala Sitharaman News

26.07 / 01:43

markets COST Target Gap security show Benchmark g-sec yield eases further following Budget announcements

benchmark sovereign bond yield retreated Thursday, closing at 6.951%, following budgetary announcements that sought to narrow the fiscal gap through judicious use of the bumper surplus the government received from its money manager — the central bank. The yield on the 10-year benchmark government security has eased 23 basis points so far in 2024. Bond yields stood at 6.96% on Wednesday. One basis point is 0.01%.

25.07 / 12:48

markets COST UPS Manufacturing Gap President Lowered customs may improve India’s global position in apparel and footwear market

apparel and footwear may become a larger part of the global sourcing for brands like Zara, H&M, Marks and Spencer and Gap with finance minister Nirmala Sitharaman announcing a lot of exemptions on import duties of raw materials for apparel and footwear only when they are further exported. Local manufacturers said this will make the Indian produce price competitive in the global market compared to Bangladesh, Vietnam, Cambodia, China, and Southeast Asian nations.

25.07 / 11:16

Crypto Payment India Tracks Crypto Transactions on Darknet to Combat Drug Trafficking

India’s Narcotics Control Bureau (NCB) has intensified its surveillance of cryptocurrency payments on the darknet in a bid to curb drug trafficking within its borders.

25.07 / 09:42

COST Provident ETF security Align community Harmonic Understanding impact of Budget on personal finance

With the unveiling of Union Budget 2024-25, personal finance is set for a transformation that promises both simplification and strategic shifts. Although the anticipated increase in the tax-free threshold didn't materialize, the proposed changes signal a move towards a more streamlined tax system. Finance minister Nirmala Sitharaman is recalibrating the tax landscape, favouring reduced rates, broader slabs, and fewer deductions to make the new regime more appealing.

25.07 / 09:09

markets Provident Aware Death show reports Workplace safety: Nifty 500 firms saw nearly 11,000 injuries in FY23

MUMBAI : Nifty 500 companies, employing over 10 million employees and workers, recorded an 8.5% year-on-year rise in workplace injuries in 2022-23, showed a report by proxy advisory firm Institutional Investor Advisory Services (IiAS). While the total number of workplace injuries increased to 10,733 in 2022-23 from 9,889 a year ago, the number of high-consequence injuries rose by a third to 907 from 679 in India’s top 500 listed companies by market capitalization, said the report titled India: Workplace Safety Report FY23.

25.07 / 08:44

Provident FIVE Waters Sustainability rights Interviews Freebies should be sustainable, governments must not put a burden on future generations: FM Sitharaman

freebies offered by governments, Finance Minister Nirmala Sitharaman in an interview said that such a promise should be sustainable and prove to be a burden on future generations.

25.07 / 08:22

Target Digital CEO economy Sustainability Research innovations Budget 2024: Industry leaders weigh in on India's path to growth and innovation

Nirmala Sitharaman, marks a significant step towards realising the vision of a ‘Viksit Bharat’. The Union Budget focuses on fiscal consolidation with a target of a 4.9% fiscal deficit of GDP. Key allocations include substantial funding for infrastructure, rural development, employment, and skilling initiatives. Significant policy changes include the abolition of the Angel Tax for startups, and promoting investment and innovation. The budget emphasises technology, with increased funding for research and development, also prioritising digital infrastructure, and women's development with a strong support to MSMEs and entrepreneurship.

25.07 / 07:37

Provident WhatsApp Department International First draft of new simplified I-T law to be prepared by tax dept panel: Revenue Secretary Sanjay Malhotra

income tax law, as proposed in the Budget, will be prepared by an internal committee of the tax department and will undertake stakeholder consultation before finalising the legislation, Revenue Secretary Sanjay Malhotra said on Thursday. Malhotra said that the exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the income tax law.

25.07 / 06:58

COST UPS Bill Experts cover reports Budget 2024: Rent from residential property loses business income tag

In Budget 2024, finance minister Nirmala Sitharaman announced a significant amendment regarding the treatment of rental income from residential property. Previously, individuals could report their rental income as business income, but this will now change. Rental income from residential property must be reported under the 'Income from House Property' category, as per Section 24 of the Income Tax Act.

25.07 / 02:08

Sustainability PwC wellness trends stage reports Schools LTCG tax parity may bring more family offices to the startupland

Family offices of millionaires are likely to increase capital allocation to new-age companies, following the budget proposals to bring parity on long-term capital gains (LTCG) tax across all financial assets and abolish the angel tax.

24.07 / 19:46

UPS MET WhatsApp Injustice Sitharaman, Kharge spar over 'injustice' to oppn-ruled states

Mallikarjun Kharge on Wednesday sparred with finance minister Nirmala Sitharaman in the House over the budget, with the former alleging that Opposition-ruled states have not received any funds, a charge Sitharaman dismissed. She said while allocations have been made, it is not possible to name each state in a speech.

24.07 / 19:32

UPS Gap security WhatsApp Research Budget 2024: Bankers hope tax changes make FDs more attractive

24.07 / 19:24

UPS FIVE economy country reports inequality Copy Cong manifesto a bit more: PC in RS; BJP MP: A visionary budget

budget in the Rajya Sabha on Wednesday, senior Congress leader and former finance minister P Chidambaram pushed forward five demands from finance minister Nirmala Sitharaman.

24.07 / 18:18

markets UPS Manufacturing Mobile wellness electronic Budget 2024: Critical minerals push key to cross-industry value addition

₹18,100 crore production-linked incentive (PLI) scheme for advanced chemistry cells (ACC) is nearly exhausted. Early gainers may include companies already approved under the ACC PLI such as Ola Electric Mobility, Reliance New Energy and Rajesh Exports.

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 / 13:50

markets UPS Reuters Manufacturing show Rupee hits record low against dollar amid global strength, equity outflows

index globally driving down Emerging market currency and likely equity outflows. The local currency ended the day at 83.7175/$1,its weakest closing level and marginally weaker than its close of 83.6875/$1 in the previous session, LSEG data showed.

24.07 / 13:46

UPS Progressive WhatsApp show country Criticism of Budget by Oppn reveals their political frustration, negative attitude towards backward states: BJP

Union Budget and said it reveals their political frustration and negative attitude towards «some backward states» that need special focus and assistance for development. The BJP's reaction comes against the backdrop of the Congress and other constituents of the opposition INDIA bloc accusing the government of presenting a «discriminatory» budget towards opposition-ruled states after Finance Minister Nirmala Sitharaman made a host of budgetary announcements for Andhra Pradesh and Bihar on Tuesday.

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 / 11:30

UPS Provident Action wellness Interviews Relationships Budget proposals lay ground for long term reforms: NITI Aayog VC

NITI Aayog vice chairman Suman Bery on Wednesday said the review of the direct tax and the custom's duty rates as announced by the Finance Minister in her Budget speech will prepare the ground for long term reforms. Bery further said that the Budget for 2024-25 was a structural budget, which will help in improving labour productivity by building a relationship between the workforce and the private sector.

24.07 / 11:01

UPS Provident FIVE Booking show Department Budget 2024 reduces time limit for ITR reassessment, gives compliance relief to taxpayers with foreign assets

MUMBAI: Union finance minister Nirmala Sitharaman has reduced the time limit for reopening old income tax returns (ITRs) for reassessment.

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