FY25 Budget: Agriculture Ministry Allocated Rs 1.27 Lakh Cr
The Union Budget 2024-25 has allocated Rs 1.27 lakh crore for the Ministry of Agriculture, a slight increase from the current fiscal year. The allocation includes Rs 60,000 crore for the flagship PM-KISAN scheme, which provides income support to farmers. The budget also focuses on boosting the sectors of fisheries, animal husbandry and dairying, as […]
SBI Chairman Khara Invites Paytm Customers to Bank
SBI chairman Dinesh Khara has said that the bank is ready to provide all support to merchants who want to shift from Paytm Payments Bank, which is facing regulatory action from RBI. Khara said that SBI Payments, a subsidiary of the bank, can offer various payment solutions such as QR scan code, POS machines and […]
Budget 2024: FM Calls Off Direct Tax Demand Under Rs 25,000
In a major relief to taxpayers, Finance Minister Nirmala Sitharaman announced that the government will withdraw all direct tax demands under Rs 25,000 in the Interim Budget 2024. This move is expected to benefit about one crore taxpayers and reduce litigation and compliance burden. Why this matters The Finance Minister said that this decision was […]
Budget 2024: A Look at New and Old Income Tax Slabs
Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 on February 1, 2024, amid high expectations from the salaried class. However, the budget did not announce any changes in the income tax slab rates for both new and old regimes. The taxpayers have the option to choose between the new and old tax regimes as […]
Morgan Stanley Acquires Paytm Shares Valued at Rs 244 Cr
Morgan Stanley, a leading financial services firm, has bought 0.8% stake in One97 Communications, the parent company of Paytm, for Rs 244 crore through an open market transaction on Friday. The deal comes amid regulatory challenges faced by Paytm Payments Bank, which was barred by the RBI from offering some banking services for non-compliance. According […]
India Targets Rs 14,000 Cr in FY25 via Online Gambling Tax
India expects to collect up to Rs 14,000 crore ($1.7 billion) in goods and services tax (GST) next financial year by taxing online gambling companies, Revenue Secretary Sanjay Malhotra told Reuters on Saturday. The tax, imposed in October, aimed to boost the industry, which is backed by global investors. Online Gambling Tax Rate Set by […]
IDBI Bank’s Strategic Sale Likely to Finish in Next Financial Year
The government expects to complete the strategic sale of IDBI Bank in the next financial year, according to a senior official. The process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited. Here are some more details about the deal. Introduction IDBI Bank is a […]
State Oil Refiners Denied Interim Budget Funds for Net-Zero
India’s state-owned oil refiners have been denied funds in the current fiscal year to achieve their net-zero carbon goal, according to the interim budget presented by finance minister Nirmala Sitharaman on Friday. The budget has also not provided any sum to buy crude oil to fill the country’s strategic reserves amid volatility caused by tensions […]
No Voting Rights on CEO Change: Byju’s to Investors
Byju’s, India’s leading edtech firm, has refuted the claims of some investors who seek to remove founder and CEO Byju Raveendran from his position. The company said that its shareholder agreement does not give them the right to vote on CEO or management change. Investors demand EGM to oust Raveendran A group of investors, including […]
CII: One Nation, One Election Key to Economic Development
The Confederation of Indian Industry (CII) has expressed its support for the concept of One Nation, One Election (ONOE), saying it will bring economic efficiency and reduce the cost of project delays by about half of current levels. The ONOE initiative aims to synchronize the election schedules for the Lok Sabha and State Assemblies, thereby […]