Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent, exempted life-saving gene therapy from tax, and extended the GST exemption for parts used in manufacturing (SAM).
With an aim to evaluate key financial metrics, Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).
With a Central outlay of Rs. two lakh crore the package is aims to benefit 4.1 crore youth over five years.
Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today
Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2023-24 along with a statistical appendix in Parliament on Monday, a day ahead of the Union Budget.
It is for the first time that the Government has admitted that there is a problem with the economy. Earlier Governments had a tradition of appointing outstanding economists to important positions in the Finance Ministry. It is time that the present Government revived this tradition and hired some really talented people, without bothering too much about their ideological inclinations.
The Sensex surged 1,075 points or 2.83 per cent to close at 39,090 and Nifty 50 index rose 329 points or 2.92 per cent to end at 11,603.
Corporate tax reduction is credit positive for companies but increases the government's fiscal risks, global credit rating agency Moody's said on Saturday.
The benchmark S&P BSE Sensex closed at 1,921 points or 5.32 per cent to settle at 38,014.62, the Nifty50 index ended at 11,274 levels, up 569 points or 5.32 per cent, with 44 out of 50 constituents advancing and 6 endings in the red.
In order to provide relief to listed companies which have already made a public announcement of buyback on or before July 5, 2019, it is provided that tax on buyback of shares in case of such companies shall not be charged : FM
