budget 2019

Govt nets Rs 939cr from online ads on Google, Facebook in FY19

FinMin may go slow on overseas bonds plan

In her maiden Budget speech, finance minister Nirmala Sitharaman announced the proposal to issue offshore sovereign bonds, starting from the current fiscal year. “India’s sovereign external debt to GDP is among the lowest globally at less than 5 percent.

SEBI may tighten buyback norms, cap issue at 25% of paid-up capital & free reserves

The move comes on the heels of a 20 percent tax on share buybacks imposed by the Finance Ministry in Budget 2019 and is apparently aimed at providing a correct picture of companies’ leverage status.

Clueless market eyes policy measures; invest in largecaps that corrected in July

Market is eagerly looking forward to some sort of stimulus by the government to kick-start growth, without which it would be difficult for corporates to report sustainable growth.

Housing finance companies to be treated as NBFCs; comes under RBI regulation

Finance Minister Nirmala Sitharaman in her maiden Budget 2019-20 speech in early July had announced that the National Housing Bank (NHB) will not remain as the regulator for the HFCs.

Sovereign bond sale needs special safeguard: Report

In a scenario of depreciating currency, interest and debt obligations of foreign currency-denominated debts balloon and quite often make it unsustainable.

Budgets 2019: Take note of key provisions that bring pain and relief

This year was unique, since a number of provisions in both the Budgets (in February and in July) have significantly impacted taxpayers

India likely to put 35% minimum shareholding rule for listed entities on hold: Source

The government is looking for ways to ease concerns of foreign portfolio investors that have pulled out of Indian equity markets after a budget announcement of higher taxes for individuals and trusts earning more than 20 million rupees a year

Budget 2019 tweaks taxes on insurance maturity proceeds

The rate of TDS shall be 5 per cent and it shall be deducted on the ‘income’ portion and not on the entire amount. 

Budget 2019 has led to a huge tax arbitrage between debt AIFs and debt MFs

Tax arbitrage siphons away 1.6-2.4 per cent of the returns in debt AIF compared to mutual funds

Modi government pushes for transition to electric vehicles for public transport

The FAME scheme has proposed the establishment of about 2,700 charging stations in metros, other million-plus cities and, smart cities and cities of hilly states across the country

LIC public listing back on govt agenda; may overtake RIL, TCS m-cap once listed: Report

LIC, which is the largest financial institution in India could easily become country’s top listed company if its shares get listed.

SEBI may ease norms for FPIs in line with HR Khan panel recommendations

Many FPIs exited the market after Finance Minister Nirmala Sitharaman announced surcharges for foreign investors in Budget 2019

Sovereign external borrowing : A tightrope walk for govt

Finance Minister Nirmala Sitharaman in Budget 2019-20 announced that the government would start raising a part of its gross borrowing programme from external markets in foreign currencies.

As the new economic affairs secretary, Atanu Chakraborty has his task cut out

Chakraborty takes over at a time when the government finds itself in a logjam with over transfer of RBI’s surplus reserves; announcements about an overseas borrowing plan has also generated a lot of heat

PMO wants finance ministry to restudy issuing overseas sovereign bond: Sources

The benchmark 10-year bond yield rose as much as 11 basis points to 6.55 percent after the news of a rethink of the proposal, as market participants fear this may boost government borrowing in the domestic market.

Govt may raise $10 billion from overseas bond sale

The sale, being considered for October, would be in either the yen, euro or the dollar

CAG pegs India's FY18 fiscal deficit at 5.85% vs govt's 3.46%: Report

The revenue deficit for FY18 stands at 3.48 percent of GDP and not 2.59 percent as stated officially, the CAG report stated

Parliament approves Modi govt's FY20 Budget

The Appropriation (No 2) Bill, 2019 and the Finance (No 2) Bill, 2019 -- cleared by Lok Sabha last week -- were returned by the Rajya Sabha on July 23 after voice vote.

Centre not imposing Hindi in Tamil Nadu: Nirmala Sitharaman

Sitharaman's response to queries of reporters here came in the backdrop of state political parties protesting the conduct of recent Postal department exams in English and Hindi only.

Centre doubles down on Budget speak, asks states for electric vehicles push

The government has asked states and UTs to induct more EVs into public transport and communicate by August 31 the steps being planned to promote faster adoption of EVs

Cash withdrawal from multiple accounts to be aggregated for levying 2% TDS

The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.

Porinju Veliyath writes to investors, blames budget for poor performance of portfolio

Though the maiden budget of Modi 2.0 laid out a long-term vision that the government aims to achieve, some provisions in it has been disappointing from a near term stock market perspective

Lok Sabha passes Finance Bill

During her Budget speech, the FM had proposed levy of an additional surcharge on 'individuals' earning more than Rs 2 crore and Rs 5 crore, respectively.

FM dashes hopes of tweak in FPI surcharge, says trusts should register as companies

Budget 2019 had proposed levy of an additional surcharge on individuals and trusts earning more than Rs 2 crore and Rs 5 crore, respectively.