INDIAN CAR DEALERS HAIL NIRMALA SITHARAMAN’S BUDGET 2021

HIGHLIGHTS

• The current fiscal year witnessed increase in the registration of vehicles across India in December 2020.
• Combined sales of passenger vehicles and two-wheelers witnessed a growth of 11% year-on-year.
• FADA said that the announceme...

INDIAN GOVERNMENT MAY SLASH GST RATE FOR AUTOMOBILE SECTOR

HIGHLIGHTS

• To boost the growth of automobile sector, Indian government is considering to slash GST for automobile sector.
• Union minister of Heavy Industries and Public Enterprises Prakash Javadekar is in talks with Finance Minister Nirmala Seetharaman...

NO HIKE IN GST RATES SAYS FM NIRMALA SITHARAMAN

Highlights

• Union Finance Minister Sitharaman said this is not the appropriate time to hike taxes as the country is still battling COVID-19 and its economic consequences 

• Seven non-NDA states like Punjab, Rajasthan, Maharashtra, Jharkhand, Chhatisgarh, Puduch...

PNB, OBC, UBI MERGER: NO EMPLOYEE WILL BE SACKED SAYS PNB MD & CEO RAO

Highlights

• The merger of Oriental Bank of Commerce (OBC), Punjab National Bank (PNB) and United Bank of India came into effect from April 1, 2020

• The MD & CEO SS Mallikarjuna Rao said there will be no retrenchment of employees due to the merger of the OBC, UB...

PM MODI LAUNCHES TRANSPARENT TAXATION PLATFORM, SAYS INDIA IS HONOURING THE HONEST

Highlights

• This new tax reform programme involves faceless assessment, faceless appeal and a tax payer charter that will provide improved experience for tax payers

• PM Narendra Modi said honest tax payers will play huge role in the building the nation

&b...

PM NARENDRA MODI TO LAUNCH ‘TRANSPARENT TAXATION’ PLATFORM ON AUGUST 13

Highlights

• Along with the Prime Minister Modi, this event will also be attended by the Union Finance Minister Nirmala Sitharaman and Minister Anurag Thakur

• The launch event of “Transparent Taxation” will be witnessed by different chambers of commerce,...

GOVERNMENT OF INDIA IMPOSES BAN ON IMPORT OF 101 DEFENCE EQUIPMENT ITEMS

Highlights

• The Union Finance Minister Nirmala Sitharaman had previously announced privatisation in the Indian defence sector

• This is huge boost for the Government of India’s ‘Atmanirbhar Bharat' initiative said Union Defence Minister Rajnath Singh...

WILL SOON GET BACK TO WORK AFTER RECOVERY SAYS CM BS YEDIYURAPPA

BS Yediyurappa, the Chief Minister of Karnataka tested positive for COVID-19 on Sunday and is undergoing treatment at a hospital said that there was no need for anyone to worry and will soon get back to work after recovery. 
The health of the people of the state was his priority and r...

HERE IS HOW PM MODI WORKING TO REVIVE THE ECONOMY

According to the official sources, the Prime Minister of India, Narendra Modi is holding meetings with top officials of the finance and commerce ministries to review the impact of present day COVID-19 on the country’s economy. 
The sources state that the Prime Minister will be p...

GOVT: ALL URBAN CO-OPERATIVE BANKS, MULTI-STATE CO-OP BANKS TO COME UNDER RBI

Highlights

• Union Minister Prakash Javdekar stated that all the 1,540 cooperative banks have brought under the supervision of the RBI in order to give an assurance to all the depositors

• Previously, Union Finance Minister Nirmala Sitharaman had announced the govern...

FM SITHARAMAN: PM MODI WILL LAUNCH RS 50,000 CRORE ‘GARIB KALYAN ROJGAR ABHIYAN' SCHEME

Highlights

• This scheme will be launched by the Prime Minister Narendra Modi at 11 a.m. on June 20

• The Chief Minister and Deputy Minister of Bihar, Nitish Kumar and Sushil Modi will attend this event via video conferencing

• Nearly 25,000 migrant wo...

SMALL BUSINESSES TO BENEFIT FROM GST COUNCIL’S DECISION TO SLASH INTEREST RATES

Highlights

• Finance Minister Nirmala Sitharaman said those businesses that haven’t  filed returns for the month of February, March and April won’t be liable for any interest till July 6

• After July 6, all the small businesses will have to pay inter...

INDIAN GOVERNMENT TO BRING IN MORE FDI IN DEFENCE MANUFACTURING

Highlights

• Finance Minister Nirmala Sitharaman said the foreign direct investment in India’s defence manufacturing will be increased to 74 percent from previous 49 percent

• The Government of India will work towards improving autonomy, efficiency and accounta...

INDIAN GOVERNMENT TO AMMEND ESSENTIAL COMMODITIES ACT

Highlights

• On the third consecutive day, FM Nirmala Sitharaman announced number of packages towards various farming activities

• Total 11 announcements were made today, out of which 8 were directed towards enhancing capacities of storages and 3 towards governance a...

AFTER MSMEs, INDIA’S ECONOMIC PACKAGE FOCUSES ON SELF-EMPLOYED & MIGRANT WORKERS

Following Prime Minister Narendra Modi’s announcement of economic package worth Rs 20 lakh crore, Indian Finance Minister Nirmala Sitharaman came on Wednesday and announced measures which focused on reviving MSMEs and small businesses. On Thursday, FM Sitharaman came with further breakup of...

INDIAN FINANCE MINISTER ANNOUNCES RS 3 LAKH CRORE COLLATERAL FREE LOANS FOR MSMEs

Highlights

• Indian Prime Minister Narendra Modi made an announcement of stimulus package worth Rs 20 lakh crore

• Finance Minister Nirmala Sitharaman gave a break up of the package announced by the PM

• Income tax filing date has been extended to Nove...

FM LOST COOL WHEN 30% ACCOUNTS OF TEA WORKERS WERE FOUND TO BE DEFUNCT IN FEB 2020

Highlights

• Video of Sitharaman blasting SBI Chairman goes viral
• SBI held SBI responsible for 30% defunct bank a/cs of tea-estate workers

One of the most deprived sections of the society in India today dwells in the tea estates of Assam in India. Assa...

Yes BANK MORATORIUM TO BE LOFTED SOON: ICICI, HDFC, AXIS & SBI TO INVEST

Highlights: 

• Cabinet approves RBI suggested reconstruction scheme for Yes Bank
• Moratorium might be lifted soon

Yes bank customers cam heave a sigh of relief as the moratorium on Yes bank is expected to be lifted very soon. The &...

THE UNION BUDGET 2020-21: HITS THAT WILL COUNT

Highlights

• It makes room for short, middle and long term developments
• Aims a boosting people’s incomes and enhancing their purchasing power
• Wants to encourage businesses to be “innovative, healthy and solvent with use of techno...

UNION BUDGET 2020: A FEW LOOKED FOR HIGHLIGHTS

Highlights

• Tax Slab deduction sees a trifle of a change
• Tax benefits for individuals as well as companies

In her opening address before presenting the Union budget 2020, Nirmala Sitharaman set the tone straight by stating that the p...