All eyes on FM’s Budget: New cess for Covid ’19 likely:
Markets swing both sides: IndusInd and ICICI Bank take the forward move:
Indian shares rose on Monday ahead of the federal budget where Finance Minister Nirmala Sitharaman is expected to unveil several measures to bolster the economy following the impact of the covid-19 pandemic.
Union Budget 2021 Live Updates: The Budget unveiling will start with a speech from Finance Minister Nirmala Sitharaman scheduled to take place at 11 am. FM has promised a budget like no other this year.
Budget 2021 LIVE: Prime Minister Narendra Modi-led govt will present its most closely watched Budget 2021 today. The Budget 2021 has been tasked to get India back on track as the world’s fastest-growing major economy by boosting spending on job-creation and rural development while fighting back the coronavirus.
Finance Minister Nirmala Sitharaman said that the Budget 2021 would be ‘unlike anything seen so far.’ FM Nirmala Sitharaman will present the budget at 11 am in New Delhi.
Union Budget 2021: Can FM Nirmala Sitharaman meet people’s expectations?
Budget will meet public expectations, says Anurag Thakur, offers prayers
FM reaches Parliament, Union Cabinet meeting to start at 10.15.
Finance Minister Nirmala Sitharaman meets President Ram Nath Kovind ahead of the Budget 2021 presentation.
Nirmala Sitharaman’s Budget is expected to revolve around the philosophy of “growth with a human touch” and focused on raising farmers’ incomes, generating jobs for the young, improving health care standards and ease of compliance for citizens and businesses, people aware of the development told HT.
The BSE benchmark Sensex surged over 443 points and the NSE Nifty advanced 115 points in opening trade ahead of the Union Budget 2021-22 presentation in Parliament.
Nirmala Sitharaman’s Budget speech 2020 was the longest going by the duration. Her speech lasted for about two hours and 40 minutes. She even felt unwell and had cut her speech short. In 2003, Jaswant Singh made a record of two hours and 15 minutes.
After replacing the budget briefcase with a Bahi Khata in 2019, this time the FM will present the Budget through a Made-in-India tab.
Budget will be in accordance with people’s expectations. Govt which functions on mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ gave new direction to India by announcing Aatmanirbhar package, protecting it from pandemic & bringing economy back on track swiftly: Anurag Thakur, MoS Finance
Union Budget 2021 can also be downloaded from the Government of India’s official website www.indiabudget.gov.in after the Budget will be tabled in the Parliament.
All tax experts were of the view that some deductions that would be available for medical expenses that many families had to bear due to covid-19. This could be done under Section 80D.
Nirmala Sitharaman is likely to increase spending by more than 15% year-on-year in 2021-22 with an emphasis on infrastructure and healthcare.
Citigroup expects a 19% year-on-year growth in gross tax revenue next year, with healthier goods and services tax revenue helping boost overall collection. It expects GST to average ₹1.15 lakh a month next fiscal — translating into nearly ₹14 lakh in total for the year.
The Union Cabinet will hold a meeting at 10:15 am before the presentation.
Ahead of her third Budget presentation, the Finance Minister and her team will meet President Ram Nath Kovind, and will likely be accompanied by her deputy Anurag Thakur and other officials of the Finance Ministry.
Finance Minister had launched the “Union Budget Mobile App” for hassle-free access of Budget documents by Members of Parliament (MPs) and the general public using the simplest form of digital convenience.
If history is a guide, the recent rough ride for Indian stocks will continue after Monday’s budget.
The stock market tanked almost 40% in March 2020 and bounced back to achieve new all-time high milestones. With that said, investors will be keenly awaiting the budget and the impact it may have on the investment decisions. Here are few expectations retail investors have from Budget 2021.
Tax experts expect the government to fix some anomalies in the NPS or National Pension Scheme with regard to income tax benefits.
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