That it also gave them optional tax structures to choose from; going with existing tax rates with payment of a minimum alternate tax (MAT) or a lower corporate tax, may be particularly pleasing for capital-intensive companies.
The PM said that the Centre was delivering policy-based governance that has helped catapult the country from 142nd place among 190 nations on the World Bank's ease of doing business ranking in 2014 to 77th position this year.
Before July 1, SBI used to charge between Re 1 and Rs 5 for transactions through NEFT, and Rs 5-50 for RTGS route.
This amendment will take effect from April 1, 2020, and will, apply in relation to the assessment year 2020-21 and subsequent assessment years.
The obsessive security associated with Budget preparation, where dozens of Finance Ministry officials are sequestered in North Block days ahead of the presentation, has a huge downside in that there is no informed discussion on the proposed budgetary provisions. Unfortunately, budget proposals are finalised in the rarefied atmosphere of North Block, far removed from the persons and places for whose benefit the whole exercise is undertaken.
However, a few termed the budget as cautious and asserted that it was not going to alleviate the current state of trade tensions between the US and India.
Presenting her maiden full Union Budget, Finance Minister Nirmala Sitharaman proposed to increase Special Additional Excise duty and Road and Infrastructure Cess each by one rupee a litre on petrol and diesel.
Finance Minister Nirmala Sitharaman presented the maiden budget of the 17th Lok Sabha on Friday.
Finance Minister Nirmala Sitharaman presented her maiden Union Budget speech in the Monsoon Session of Indian Parliament.
The Sports and Youth Affairs Ministry had got a substantial raise of Rs 214.2 crore in the interim budget presented in February. The allocation was raised from last year's Rs 2002.72 to Rs 2216.92 crore.
