FM Sitharaman lists out healthcare, infra, livelihood as key focus areas
The Finance Minister said investment in health and infrastructure is going to be absolutely critical, while livelihood challenges would have to be seen in a newer canvas. Updated: December 19, 2020 9:12:24 am
Finance Minister Nirmala Sitharaman addresses the CII Partnership Summit via video conferencing. (via @nsitharamanoffc)
With less than two months to go for the Budget for the next fiscal year, Finance Minister Nirmala Sitharaman on Friday said the upcoming Budget, given it would be the first since the pandemic, will be “a Budget like never before”. Enlisting healthcare, infrastructure and livelihood as focus areas, Sitharaman said support needs to be given to sectors that have been disrupted and sectors that could be newer engines of growth.
RBI Governor Shaktikanta Das: Recovery not steady and continuous yet
Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth. Updated: December 19, 2020 2:45:49 am
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the improvement in the economy is “not steady and continuous yet” though the recovery is multi-speed as more sectors are showing an upturn.
Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth.
Advance corporate tax mop-up jumps 49%, personal I-T falls
The rise in advance corporate tax payments has come mainly on the back of a low base effect due to lower advance tax paid by companies in December last year following a cut in the corporate tax rate announced in September 2019. December 18, 2020 3:00:03 am
Individual and corporate taxpayers are required to pay advance tax in four instalments.
Advance corporate tax collections rose by 49 per cent, while advance personal income tax declined by 5.6 per cent in the third installment of advance taxes that were due on December 15, a tax official said. The rise in advance corporate tax payments has come mainly on the back of a low base effect due to lower advance tax paid by companies in December last year following a cut in the corporate tax rate announced in September 2019.
Flyers in cargo plane: DGCA to probe GoAir
Confirming the development, a senior official at the Directorate General of Civil Aviation (DGCA) said the aviation safety regulator was looking into the matter. December 18, 2020 3:05:18 am
The plane took off from Chennai around 3pm on Tuesday and was over the Bay of Bengal when it was asked by the air traffic control to return to the origin airport because it did not have the permission to land with passengers.
A GoAir flight from Chennai to Port Blair carrying 160 passengers was Tuesday asked to return mid-air for having passengers on board when it was only permitted to fly in cargo to the island airport. Confirming the development, a senior official at the Directorate General of Civil Aviation (DGCA) said the aviation safety regulator was looking into the matter.
Broad-based revival on, Budget to push infra spending: FM Sitharaman
Efforts to disinvest some of the big central public sector enterprises are on track, she said, adding India’s strong macro-economic fundamentals are attracting record FDI even during the pandemic. December 18, 2020 3:00:31 am
Finance Minister Nirmala Sitharaman. (File Photo)
Finance minister Nirmala Sitharaman on Thursday said clear signs of broad-based revival of the economy was visible and reiterated that the upcoming budget would accelerate public investments in infrastructure.
“Even as we are going towards the making of the next budget after an extraordinary year with challenges… I would like to assure that public expenditure will continue and with better pace.. Capital expenditure from the public sector undertakings particularly for infrastructure will be (accelerated)” Sitharaman said addressing a virtual session by Indian Chamber of Commerce (ICC).