Diabytes
Budget 2016-17 News
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With government's focus on making India a cashless economy, government is likely to introduce a couple of measures in the budget 2017-18, and one of them is expected to be reduction in free ATM withdrawals slashing the limit to just 3 withdrawals unlike 5 allowed currently.
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State-owned banks looking forward to the next round of capital infusion will need to fulfill a new set of criteria, including credit recovery, as the Finance Ministry has revised the recapitalisation norms.
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Helped by buoyancy in indirect taxes, the government managed to surpass the total tax collection target for 2015-16 by Rs 5,000 crore at Rs 14.60 lakh crore.
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The window, announced by Finance Minister Arun Jaitley in his Budget 2016-17, will begin on June 1 and provides an opportunity to avoid prosecution with payment of 30 percent tax and 15 percent penalty.
Moody's Investors Service on Thursday said the Budget for 2016-17 is "credit negative" for PSU banks as the capital infusion road map falls short of the required Rs 1.45 lakh crore.
New cesses and duty hikes may have made cars and garments costlier but Finance Minister Arun Jaitley's focus in the Budget 2016-17 was job creation and making taxation simpler, not resource mobilisation, a top official said Tuesday.
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Advani also said that the budget has made unprecedented provision for accelerating and modernising India`s infrastructure in critical areas such as highways, railways and rural roads.
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Budget 2016: No change in Income Tax slabs; rent deduction limit raised to Rs 60k
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Budget 2016: Corporate tax rate for small firms cut to 29%
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Watch: Public react to Arun Jaitley's Budget 2016
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Watch the sizzling hot video featuring Sunny Leone and quit smoking!
The government`s announcement that farmers` income would be doubled in the next five years is an "impossible idea", former prime minister and noted economist Manmohan Singh said on Monday.
Terming the Union Budget 2016-17 as "excellent", Home Minister Rajnath Singh on Monday said it outlines the priorities of the NDA government and the vision of Prime Minister Narendra Modi who passed the budget test with "flying colours".
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Chidambaram said that he was happy the government has achieved the fiscal deficit target, but otherwise the Budget is just house keeping and accounting.
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The government decided not to distribute hard copies of the budget to Media houses as part of its bid to go green and save trees.
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Facing challenges from both domestic and global fronts, Finance Minister Arun Jaitley on Monday presented Budget for financial year 2016-17.
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https://goo.gl/fCugXC Daily News and Analysis: https://goo.gl/B8eVsD Manthan: https://goo.gl/6q0wUN Fast n Facts: https://goo.gl/kW2MYV Your daily does of entertainment: https://goo.gl/ZNEfhw Sports round up: https://goo.gl/KeeYjf Aapke Sitare: https://goo.gl/X56YSa Bharat Bhagya Vidhata: https://goo.gl/QqJiOV Taal Thok Ke : https://goo.gl/yiV6e7 Subscribe to our channel at: https://goo.gl/qKzmWg Check out our website: http://www.zeenews.com Connect with us at our social media handles: Facebook: https://www.facebook.com/ZeeNews Twitter: https://twitter.com/ZeeNews Google Plus: https://plus.google.com/+Zeenews
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