The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.
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
The draft model for the new Tenancy law has been put in the public domain for comments.
Subramanian further said that India's biggest challenge at the moment is twin balance sheet problem.
Ideally, the peak income tax rate of 42.7 percent should come down over time, Finance Minister Nirmala Sitharaman said in an interview, repeating and stressing the word ‘ideally’
However, choked up infrastructure development will pose a major challenge. Slow growth and weak consumption also add to it.
As far as the Budget is concerned, it has given clear signals in terms of what the government expects to see on the NBFCs side, Chaudhry states.
Some factors that led to the fall are the announcements made in Budget 2019
However, the biggest challenge will be to create a charging infrastructure so that people are assured that they can buy electric vehicles.
Earlier, in February this year, the government had raised the target to Rs 90,000 crore for the financial year 2019-20, from the 2018-19 disinvestment target of Rs 80,000 crore.
Only 40,000 people have a declared income of above Rs 1 crore in the country.
Poorva Prakash, Senior Director – Deloitte India, also joins in to tell us how life changes for individual taxpayers after the Union Budget and how much the additional surcharge announcement will impact the HNIs.
The super-rich will feel the pinch with increase in surcharge for those earning between Rs 2 crore to Rs 5 crore.
This Budget is unlikely to occupy the mindspace of the markets for long. In a range-bound market that clearly has more downside than upside, and with valuations not cheap, the hunt for quality is important.
According to the TMC MP, the Aadhaar Bill 2016 lacks transparency
The custom duty hike is only on components, and impact just three percent of the industry
Moneycontrol’s Santosh Nair chats with Shiv Diwan Co-Head, Institutional Equities at Edelweiss Securities to find out how Budget 2019 impacted the markets
Presenting her first Budget, Sitharaman dug deep into government coffers to lay down an ambitious socio-economic plan that promised, among others, piped water to every household by 2024
The market displayed knee jerk reaction after the surcharge on individuals having taxable income from Rs 2 crore to Rs 5 crore increase by around 3% and 7% respectively.
This is the second year in a row where the government has tinkered with customs duty
She pressed the accelerator on fiscal consolidation, lowering the fiscal deficit target to 3.3 percent of gross domestic product (GDP), from an already upwardly revised 3.4 percent pegged in the Interim Budget on February 1.
Here's Finance Minister Nirmala Sitharaman's maiden Union Budget speech
No income earners above the threshold would still be filing tax returns
Houses costing less than Rs 45 lakh can get the benefit