(ET) A simplified return format for GST is being introduced from April 2020, Finance Minister Nirmala Sitharaman said on Saturday. In her second Budget presentation, the finance minister said GST has resulted in gains of Rs 1 lakh crore to consumers and removed inspector raj and also helped the transport sector.”Average household now saves 4 per cent in monthly expense after the rollout of GST,” Sitharaman said, and added that the Budget for 2020-21 aims to fulfill aspirations of people.
Author: Aruna Sharma
(LiveMint) Amid expectations that the Narendra Modi government will bring the Indian economy out of a slump by boosting growth, finance minister Nirmala Sitharaman tabled the Union Budget 2020-21 in the Lok Sabha today. While the common man is expecting income tax rate cut, the industry is pinning hopes on bold initiatives to revive economic growth. “We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers,” FM said. FCI and Warehousing Corporation of India to build warehousing facility on their land, says FM States asked to adopt 3 central…
(LiveMint) Finance Minister Nirmala Sitharaman today presents the Union Budget 2020-21 in the Lok Sabha. This is the second budget after Narendra Modi led National Democratic Alliance returned to power for a second term. This year’s Union Budget centres around three ideas — Aspirational India, Economic development, A Caring Society. From the common man to industry and market — all have a wide range of expectation from this year’s budget. There is a strong expectation that Nirmala Sitharaman will rejig personal tax rates this year. This year’s Economy Survey projected economic growth to rebound and hit 6%-6.5% in the next financial year starting…
(ET) Indian Oil Corp, the country’s top refiner, will invest 137.79 billion rupees ($1.94 billion) to expand the capacity of its Barauni refinery in eastern Bihar state by 50% to 180,000 barrels per day by April 2023, the company said. The state-run company is raising its refining capacity to meet growing demand for petroleum products in the country. India has emerged as a bright spot for refined fuel demand.Refined fuel consumption – a proxy for oil demand – in the December quarter rose 2.6% from a year earlier.India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making…
(PTI) State-run power producer NTPC on Friday said the unit-1 of Khargone Super Thermal Power Station in Madhya Pradesh will start commercial operation from February 1. “We wish to inform that unit-1 of 660 megawatt (mw) of Khargone Super Thermal Power Station (2×660 mw) is hereby declared on commercial operation with effect from 00:00 hrs of 01.02.2020,” the PSU said in a regulatory filing. With this, the commercial capacity of NTPC and NTPC group will become 48,645 mw and 57,106 mw, respectively, the filing said.
(TH) There was a leak in the gas pipeline of the Oil and Natural Gas Corporation (ONGC) near Antervedi village in East Godavari district in the KG Basin on Friday. Alert officials rushed to the spot and gas supply to the line was cut off immediately.According to ONGC officials, the gas pipeline connected to Mori village from Antervedi developed a leak in the fields and supply from the well was arrested immediately. “Villagers noticed gas gushing out from the pipeline around 7.30 a.m. on Friday, and informed local officials, who in turn alerted us. No human or property loss has…
(BS) India will continue to lead the global sustainable energy agenda, the Minister of Petroleum and Natural Gas & Steel Shri Dhamendra Pradhan has said. The Minister said We, in India, are in the midst of a major transformative shift in our energy sector, both in scale and complexity and also the interdependence across different systems. The trajectory to end energy poverty in India, as compared to the rest of the world, is based on our special national circumstances. The right mix of enablers are being put in place to ensure that the energy transition is secure, affordable, reliable and…
(FE) Budget 2020, at the dawn of a new decade, is extremely crucial for India. The Union Budget 2020 will decide the course of action by Indian policymakers in this decade, just like the then FM Manmohan Singh did under the leadership of PM Narsimha Rao in early 90s and changed India’s economy forever. That Budget not only opened up India’s economy but also propelled it on the path of a dream run that we witnessed in 90s and 2000s. India Budget 2020 by FM Nirmala Sitharaman has the same opportunity. Budget 2020 date is February 1 and Union Budget…
(PTI) The proposed merger of REC with state-owned shadow banking firm Power Finance Corporation has hit a roadblock and is not likely to happen in near future as it would violate Reserve Bank norms on the exposure of non-banking financial companies (NBFCs), according to sources. As per the Reserve Bank of India’s (RBI) norms, debt exposure of an NBFC in a project cannot exceed 25 per cent. The exposure of Power Finance Corporation (PFC) and REC as a merged entity would exceed the limit of 25 per cent in any existing project as the two firms have been financing power sector projects. After the merger, the new…
(Hindustan) उत्तर प्रदेश के मुख्यमंत्री योगी आदित्यनाथ ने गुरुवार को यहां कहा कि प्रदेश सरकार हर जिले में एक मेडिकल कॉलेज की स्थापना करेगी। इसके लिए नई नीति तैयार की जा रही है। मुख्यमंत्री श्री गुरु गोरक्षनाथ कॉलेज आफ नर्सिंग के सेवा शपथ समारोह को संबोधित कर रहे थे। गोरखनाथ मंदिर के ब्रह्मलीन महंत दिग्विजयनाथ स्मृति भवन सभागार में हुए कार्यक्रम में मुख्यमंत्री ने कहा कि आजादी के बाद सात दशक में यूपी की 23 करोड़ आबादी के लिए सिर्फ 12 राजकीय मेडिकल कालेज थे। उन्होंने प्रधानमंत्री नरेंद्र मोदी के सहयोग से महज तीन साल के शासनकाल में 15 मेडिकल कॉलेज शुरू…