"Fiscal Deficit at 3.3 percent for 2018-19, backed with statutory commitment to bring it down to 3 percent by 20-21 (might actually be achieved in 19-20) ..." Subhash Chandra Garg, the economic affairs secretary in the finance ministry, said in a Tweet.
In Frequently Asked Questions (FAQs), it said the Budget for 2018-19 provides for taxing Rs 1 lakh and above of Long- Term Capital Gains arising from sale of shares held for over one year at a concessional rate of 10 per cent.
Something fundamental has changed in the taxation structure, with interest rates and global outlook. So one needs to wait and see how things play out, says Udayan Mukherjee.
The launch of an initiative like “RISE” that stands for the revitalisation of infra and education systems, with a war chest of Rs 1 lakh crore, will have a far-reaching impact on our lives.
While this Budget has hit the right chords for reducing rural distress and increasing government expenditure in infrastructure, healthcare and education, it has been disappointing on other fronts.
The finance minister pointed out that opening up the economy has proven to be advantageous for India.
Jaitley emphasised the importance of toilets, saying it improves villagers' quality of life.
Finance Minister Arun Jaitley analyses the achievements of the Modi government and explains how India’s image has changed.
The finance minister said that he will be able meet the funding requirement through the 1 percent increase in education cess on income tax and the newly re-imposed long term capital gains tax.
Finance Minister Arun Jaitley has ruled out advancing the Lok Sabha elections
Subhash Chandra Garg, secretary, department of economic affairs tells Moneycontrol in an interview that the group on crypto assets under his chairmanship will submit its report in the next two months covering the entire spectrum. Excerpts:
In an exclusive interview to News18 Network, the Finance Minister also allayed fears of bank closures saying that shutting down is not an option for banks.
The finance minister said that India can achieve double digit growth rates under two conditions -- if the revenue levels rise, pushing up spending capacity, and if there is a sustained global boom.
Niti Aayog member and architect of the scheme Vinod Kumar Paul has said that the additional 1 percent health and education cess would be sufficient to meet the cost of the scheme.
A reading of the budget papers, which gives a sector-wise break-up, details how the numbers stack up.
The Union Budget 2018-19 has left the environment sector in the lurch as it is "neither populist nor helping 'Ease of Doing' business", with the government's special scheme to combat air pollution being "without any substance", says SANDRP, a network working on issues related with water sector.
Expressing his steely resolve, the Finance Minister asserts his commitment to gradually phase out corporate tax exemptions
The South Asia Network on Dams, Rivers and People (SANDRP) said the budget had a "lacklustre" approach towards the crucial sector.
Finance Minister Arun Jaitley would be addressing the market regulator's board as part of customary practice after presentation of Union Budget.
Rising interest rate will impact FY19 earnings growth expectation for Nifty as EPS of financial stocks would be negatively impacted.
Nifty should consolidate around 10,700-10,800 in the upcoming weeks but we retain our year-end target of 12,200-12,400 for the broad indices.
The current price of crude oil, at USD 70, was in the outer periphery of India’s comfort threshold.
In an interview to CNBC-TV18, Agriculture Secretary, SK Pattanayak said that he is confident that the sector will continue to grow at over six percent in FY19.
To analyse the impact of Budget 2018 on the agricultural sector, CNBC-TV18’s Manisha Gupta caught up with Atul Chaturvedi, President of Solvent Extractors' Association and Sudhakar Tomar, MD of Hakan Agro.
This move may prompt mutual fund houses to promote growth option of equity mutual funds over dividend option offered by equity schemes.