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Parliament approves Budget 2021, paves the way for LIC listing

Parliament cleared changes to the finance Bill 2021, doubling the minimum limit of employee contribution to provident fund to over Rs 5 lakh for the purpose of taxation with some riders, paving the way for the listing of Life Insurance Corporation (LIC), exempting Indian-owned assets sold on digital platforms from equalization levy, and giving tax holidays for the proposed development finance institutions (DFIs).

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