-The Hindu The government’s announced fiscal policy stance and the fiscal regime it is running seem contradictory There used to be a time — and this was well before India began to globalise — when each Union Budget announced sales tax increases on tobacco products, especially cigarettes. The demand for cigarettes being somewhat inelastic, the rise in tax was expected to be a shot in the arm for the revenue-starved government of...
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Finance Minister hints at review of tax limit on EPF -Raghuvir Srinivasan, Parvatha Vardhini C and Aarati Krishnan
-The Hindu No plan to merge the EPF with NPS, says Nirmala Sitharaman. Finance Minister Nirmala Sitharaman has said there is no intent to discourage higher income earners from saving with the Employees Provident Fund (EPF) and that she was open to reviewing the contribution limit of ₹2.5 lakh a year for tax-free interest, imposed in the recent Union Budget. Reiterating that the EPF will continue to remain in its present form, the...
More »Union Finance Minister Nirmala Sitharaman interviewed by Raghuvir Srinivasan, Aarati Krishnan and Parvatha Vardhini C (The Hindu Business Line)
-The Hindu No decision taken yet on which banks will be privatised, Finance Minister says. Fresh from presenting a Budget that represents a clean break from past policies, Union Finance Minister Nirmala Sitharaman was in Chennai last weekend to hear feedback from industrialists and common citizens. “This is a Budget that was put through the wringer to ensure that every number was credible and achievable and did not reflect over-ambition,” she said,...
More »Labour codes need to be drafted keeping in mind realities of informal sector workers -Ileena Roy and Ranjana Das
-The Indian Express These vulnerabilities of the informal sector became even more prominent as the entire country went into a state of suspension due to the lockdown enforced as a state response to the pandemic. Finance Minister Nirmala Sitharaman in her Budget speech referred to the implementation of the four labour codes, closing the process that started 20 years ago. She also mentioned a handsome Rs 15,700 crore for MSMEs, more than...
More »Privatisation of PSU banks: Govt to bring amendments to two legislations
-Livemint.com/ PTI Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 earlier this month had announced the privatisation of Public Sector Banks To facilitate the privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said. These Acts...
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