Going by the earlier plans, Bima Sugam, built with a budget of Rs...
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LIC to play key role in achieving ‘Insurance For All by 2047, to launch a product for rural areas: Chairman
Siddhartha Mohanty,Chairman,LIC ''The focus would be how to cover...
FPIs flood Indian equity markets, infuse Rs 1.5 lakh crore in 2023 despite global uncertainty
Going forward, as the general elections approach next year,...
I-T will ‘suo motu’ allot PAN to those only furnishing Aadhaar, says CBDT chief
The PAN (permanent account number) is “certainly not dead” and the recent Budget announcement of interchangeability of the two databases is an “additional facility” to ensure their linkage, which is now mandatory under the law, Central Board of Direct Taxes (CBDT), Chairman, Pramod Chandra Mody, said.
Govt to earn Rs 25,000 cr from hike in taxes, Rs 12,000 cr from super-rich
The Budget also enhanced surcharge on individuals with taxable income between Rs 2-5 crore and Rs 5 crore and above so that the effective tax rates for these two categories would increase by 3 per cent and 7 per cent respectively.
Health Sector to get Rs.62,398 crore, Rs. 6,400 Crore for Ayushman Bharat
Rs. 249.96 crore has been allocated for setting up Ayushman Bharat Health and Wellness Centres under the National Urban Health Mission to provide comprehensive primary care close to the community, while Rs. 1,349.97 crore has been earmarked for setting up health and wellness centres under the National Rural Health Mission.
Rs 14,000 crore allocated for Pradhan Mantri Fasal Bima Yojana in 2019-20
Launched early 2016, farmers pay a very nominal premium and get a full claim for the crop damage.The PM Fasal Bima Yojana a major initiative towards farmers, for them to feel secure against natural calamities at the time of sowing.
FM provides relief for NPS subscribers
However, Sandip Shrikhande, CEO, Kotak Mahindra Pension Fund , said “From a NPS point of view, the budget has proved to be a bit of a dampener. 14% limit is applicable only to the Central Government’s contributions to its employee’s account. Similarly, 80C exemption on Tier II contributions is available only to Central Government employees. The good thing is that the withdrawal is now completely tax-free.”
Insurers hail “Growth Oriented” Budget 2019-20
However, Karthik Srinivasan,senior vice president and group head, financial sector ratings,ICRA Ltd, said the absence of any capital infusion plan for the public sector general insurance companies, most of whom require capital to avoid breaching regulatory solvency ratio
Budget 2019-20 allows 100 % FDI in insurance broking
“The FDI limit from 40 per cent to 100 per cent is has been done to encourage higher overseas investment into the country,’’ said Sitharaman while presenting Budget 2019-20 in the Lok Sabha ,
Push for traditional medicine:AYUSH ministry gets Rs 1,939.76 crore
Autonomous bodies — Central Council for Research in Ayurvedic Sciences, Central Council for Research in Homeopathy and Central Council for Research in Unani Medicine — were allocated Rs 292.31 crore, Rs 118.53 crore and 152.65 crore, respectively.
India needs to grow at 8% per annum to become a $5 trillion economy by FY25
India on Thursday forecast its annual economic growth could accelerate to 7 per cent in the 2019/20 fiscal year from an estimated 6.8 per cent in the previous year, two government sources said, that could help it regain the status of world’s fastest-growing major economy by overtaking China.
Retirement age set to rise due to higher life expectancy: Eco Survey
“Since an increase in the retirement age is perhaps inevitable, it may be worthwhile signalling this change well in advance perhaps a decade before the anticipated shift so that the workforce can be prepared for it,” the Economic Survey for 2018-19, tabled in Parliament by Finance Minister Nirmala Sitharaman Thursday, said.