Page 14 - Development Cess News Today

Customs duty on cotton imports disappoints textile sector Updated: Updated: ‘It will make import of branded cotton expensive’ Share Article ‘It will make import of branded cotton expensive’ The textile and clothing sector here has expressed disappointment over the levy of customs duty on cotton imports in the Union Budget. Manoj Patodia, chairman of the Cotton Textiles Export Promotion Council, said that the plan to establish seven mega investment textile parks in three years was a po...

Union Budget 2021: What it offers the automotive industry Updated Feb 02, 2021 | 13:30 IST The Indian government announced budget 2021 yesterday. For the countrys automobile industry, what did it bring forth? Read on to see. Union Budget 2021: What it offers the automotive industry&nbsp Well, yesterday was quite hectic for the country, thanks to Union Budget 2021. Yep, Finance Minister Nirmala Sitharaman announced the new budget, policy, and initiatives for the country as...

URL copied Budget 2021: Gems and jewellery industry cheer decision to cut import duty on gold, silver The Modi government has announced a cut in the import duty on gold and silver, a move welcomed by the industry as it will bring down prices of precious metals in the domestic market and boost exports of gems and jewellery. Finance Minister Nirmala Sitharaman in her budget speech said that to bring the prices of precious metals closer to previous levels, the government will rationalise...

Union Budget 2021: Hic, hic hooray! Alcohol prices won’t go up with the new cess Union Budget 2021: It was perceived that the imposition of the cess would lead to a 100 percent increase in the prices of alcoholic beverages. However, at the other end, the basic customs duty (BCD) of 150 percent on hard liquor has now been reduced to 50 percent. This means that the net impact on the price of the product would be zero. Beer did not get a customs duty cut, so the net impact on this beverage is al...

Thrust is on sustaining economic growth through infra spending Motilal Oswal× It is a great relief that there is neither a Covid tax nor surcharges on income tax Finance Minister Nirmala Sitharaman presented the third Budget of NDA 2.0 against the backdrop of pandemic-hit economy. There were hopes of Budget bringing in measures that would drive the economy – which the government clearly succeeded in doing. Key positives The government seemed fully prepared to back and facilitate a reset of ...

4326 Rs 35,000 cr for Covid vaccine Rs20,000 cr for recap of public sector banks One-year tax holiday for affordable housing projects Tax exemption for notified rental housing projects New economic corridors to boost road infrastructure Disinvestment Policy approved: Bare minimum CPSEs to be retained and the rest will be privatised Pre-filling of returns will also cover capital gains from listed securities, dividend, interest income from PO, banks Additional deduction of Rs1.5 lakh shall be ava...

For a change, no increase in cigarette prices in this years Budget Experts say the likelihood of a tax hike for tobacco products and cigarettes was low in this years budget because it was hiked sharply in Budget 2020 Manoj Sharma | February 2, 2021 | Updated 16:57 IST Cigarettes and tobacco currently attract 28 per cent GST In a relief to smokers, no new tax has been announced on cigarette and other tobacco products in this years Budget. There were speculations before the Budget that the Centr...

Published: Tuesday, February 2, 2021, 11:12 [IST] New Delhi, Feb 02: In a significant development, Union Finance Minister Nirmala Sitharaman, in her Budget 2021 speech, has announced imposition of Agriculture Infrastructure and Development Cess (AIDC) on certain items, including petrol, diesel, gold and some imported agricultural products. The agricultural infrastructure development cess will be applicable from February 2, 2021. Sitharaman also said that care has been taken not to put additiona...

1. Health and Wellbeing There is substantial increase in investment in Health Infrastructure and the Budget outlay for Health and Wellbeing is Rs 2,23,846 crore in BE 2021-22 as against this year’s BE of Rs 94,452 crore, an increase of 137 percentage. The Finance Minister announced that a new centrally sponsored scheme, PM AatmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs 64, 180 crore over 6 years. This will develop capacities of primary, secondary, and tertiary ...

Hon’ble Speaker, I present the Budget for the year 2021-2022. 1. Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis. 2. When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction. 3. W...