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NEW DELHI: Finance Minister Nirmala Sitharaman on Monday proposed more than doubling of healthcare spending while imposing a new agri cess on certain imported goods and raising customs duty on items ranging from cotton to electronics in a bid to pull the economy out of the trough. In her Budget for the fiscal year beginning April 1, she restricted tax-free interest on retirement fund to Rs 2.5 lakh annually but gave tax exemption on Leave Travel Concession subject to incurring of specified expenditure. A new Agriculture Infrastructure and Development Cess will be imposed from Tuesday on cust...

ANI | Updated: Feb 02, 2021 00:14 IST New Delhi [India], February 2 (ANI): Bhartiya Kisan Union (BKU) spokesperson Rakesh Tikait on Monday expressed disappointment at the Union Budget 2021-22 saying that it would offer loans to farmers, but if they take them, they will suffer losses. Talking to ANI, Tikait said, "There is nothing positive in the budget. The budget is more about providing loans to farmers. If farmers take loans, they will only incur losses." "They should have talked about the prices of crops and free electricity. There is nothing as such i...

Explore Now NEW DELHI: Shares of oil retailed pared early gains as the government proposed imposing agri cess on fuels, which some feared will make petrol and diesel more expensive. The government plans to slap agricultural cess on petrol at Rs 2.5 per litre and on diesel at Rs 4 per litre. “This is madness! Farm cess of Rs 2.5 per litre on Petrol Rs 4 per litre on diesel and people thought no increase in taxes…,” said Sandip Sabharwal, an independent market analyst. Though, he later added, "if cess shifts from excise duty then (there will be) no impact." Shares of BPCL were trading in...

Batting on the front foot | Updated on A Budget for unprecedented times   -  THE HINDU× The Budget has abandoned fiscal conservatism to give growth a meaningful push Finance Minister Nirmala Sitharaman was faced with the difficult choice of either clamping down on fiscal spending and halting the fledgling economic recovery, or continuing to spend while relying on over-burdened taxpayers to foot the bill. She chose neither option but yet managed to deliver a pro-growth Budget by choosing to borrow big time. Her total budgeted expenditure for FY22 (₹34.8-lakh crore) is pegged 14.4 per cen...

The Centre on Monday imposed an agriculture infrastructure cess on a range of items, including petrol, diesel, gold, and alcoholic beverages, up to a 100 per cent, in a move that aims to further boost farm infrastructure. “There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently. This will ensure enhanced remuneration for our farmers,” said Finance Minister Nirmala Sitharaman, while proposing an Agriculture Infrastructure and Development Cess (AIDC) on a certain items. According to th...