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State govt. accuses Vedanta of indulging in ‘quick fixes’

Posted: 01 Feb 2019 12:07 AM PST

State govt. accuses Vedanta of indulging in 'quick fixes'
Company counters by telling SC that it was harassed for political motives

Source: TH

Candidate selection a challenge for AIADMK

Posted: 01 Feb 2019 12:07 AM PST

Candidate selection a challenge for AIADMK
Things won't be the same as it was during Jayalalithaa's time, says a functionary

Source: TH

View on merger of AIADMK, AMMK my own: Athawale

Posted: 01 Feb 2019 12:07 AM PST

View on merger of AIADMK, AMMK my own: Athawale
Says BJP had no role in his call

Source: TH

PM likely to inaugurate Chennai Metro stretch

Posted: 01 Feb 2019 12:07 AM PST

PM likely to inaugurate Chennai Metro stretch
Tentative dates are February 10 or 19

Source: TH

‘Popularise folk literature to conserve cultural heritage’

Posted: 01 Feb 2019 12:07 AM PST

'Popularise folk literature to conserve cultural heritage'
Seminar at SKU discusses ways to spread traditional knowledge

Source: TH

Jaya panel calls doctors for re-examination on Feb 5, 6

Posted: 01 Feb 2019 12:07 AM PST

Jaya panel calls doctors for re-examination on Feb 5, 6
Fresh date for OPS testimony yet to be fixed, says official

Source: TH

HC to PWD: fix a floor pay for non-muster roll staff

Posted: 01 Feb 2019 12:07 AM PST

HC to PWD: fix a floor pay for non-muster roll staff
Taking into account the welfare of non muster roll (NMR) staff, the Madurai Bench of the Madras High Court on Thursday directed the Public Works Depar

Source: TH

Proposal to build check dam across Palar in Vayalur revived

Posted: 01 Feb 2019 12:07 AM PST

Proposal to build check dam across Palar in Vayalur revived
The project is being funded by the Indira Gandhi Centre for Atomic Research

Source: TH

Tenant farmers seek fair deal from political parties

Posted: 01 Feb 2019 12:07 AM PST

Tenant farmers seek fair deal from political parties
'Include issues in manifestos'

Source: TH

Health sector seeks tax breaks for middle class in Budget

Posted: 01 Feb 2019 12:07 AM PST

Health sector seeks tax breaks for middle class in Budget
The healthcare sector wants the government's interim Budget to include tax measures to help the middle class better mitigate health risks."Ayushman Bh

Source: TH

CBI court frames charges against Maran brothers

Posted: 01 Feb 2019 12:07 AM PST

CBI court frames charges against Maran brothers
No misuse of official position: Dayanithi

Source: TH

Home Ministry justifies excluding SL refugees from Citizenship Bill

Posted: 01 Feb 2019 12:07 AM PST

Home Ministry justifies excluding SL refugees from Citizenship Bill
Bill seeks to provide citizenship to non-Muslims from Bangladesh, Pakistan and Afghanistan

Source: TH

Complete details: Who got what from Goyal - economic news of india - world economic news - economics news for students - indian economy news

Posted: 01 Feb 2019 12:05 AM PST

Complete details: Who got what from Goyal
With an eye on upcoming Lok Sabha elections, Finance Minister Piyush Goyal today announced mega sops for middle class, farmers and unorganised workers. Highlighting the key initiatives of the government in the Narendra Modi government's sixth and final budget before the polls, Finance Minister announced no tax on income up to Rs 5 lakh income, farmer income support scheme of Rs 6,000 per year, interest subvention scheme for farm loan takers and new pension scheme for unorganised sector workers along with higher allocation for rural schemes like MNREGA and village roads. Here are the highlights from the FM's speech: Income Tax reliefs:* No tax till Rs 5 lakh income for individuals tax payers* Standard deduction increased to Rs 50,000 from Rs 40,000 for salaried classTax exemptions on investments:* Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities* TDS threshold for home rent increased from Rs 1.8 lakh to 2.4 lakh* Interest income up to Rs 40,000 in post offices and banks made tax free * Capital gains tax exemptions under Section 54 to be available to Rs 2 crore. Capital gains exemption to be available on 2 house properties* Income tax relief on notional rent from unsold houses extended to 2 years from 1 yearOther tax related reliefs:* Income Tax returns to be processed within 24 hours and returns will be paid immediately* Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymised tax system without any intervention by officialsFor farmers: * Rs 6,000 per year assured income support for small and marginal farmers* Farmers having up to 2 hectare of lands will get Rs 6,000 per year in three equal installment. The scheme will be effective from December 1, 2018.* Interest subvention for farm loan takers: Farmers affected by natural calamities to get 2% interest subvention and additional 3% interest subvention upon timely repayment* 2% interest subvention to farmers who pursue animal husbandry, fisheries jobs through Kisaan credit cards* Kamdhenu scheme for animal husbandaryGST: * Group of Ministers to suggest ways to reduce GST for house buyers * Direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore* Businesses with less than Rs 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns* Indian Customs to fully digitised exim transactions and leveraging RFID for logistic. Govt abolishes duties on 36 capital goods * GST collections in January 2019 has crossed Rs 1 lakh croreSops for workers:* Rs 3,000 per year pension for unorganised sector workers* New Pradhan Mantri Shram Yogi Maandhan Yojana for unorganised sector workers with income up to Rs 15,000 per month. Beneficiaries will get Rs 3,000 per month pension with a contribution of Rs 100 per month after the retirement. Govt allocates Rs 500 crore for the scheme Gratuity limit increased for workersRural allocations:* Rs 60,000 crore for MNREGA * Rs 19,000 allocated for construction of rural roads under Gram Sadak yojanaDefence Budget: * Govt increases defence budget to over Rs 3 lakh crore. Govt will provide additional funds for Defence, if needed.* We have disbursed 35,000 crore rupees under #OROP scheme in the last few yearsRailways:*Railway's operating ratio seen 96.2% in FY19 Vs 95% FY20. *Railway capex for FY20 set at record Rs 1.6 lakh crore * Today there is not a single unmanned railway crossing on the broad gauge in India. Fiscal Deficit: * For FY19, government has revised the fiscal deficit target to 3.4 percent in FY 19. Fiscal deficit for 2019/20 estimated at 3.4 percent of GDP. Clearly the government is in an election mode* Government's stated commitment earlier was to bring down the fiscal deficit to 3.1 percent of GDP by the end of March 2020, and to 3 percent by March 2021*Current account deficit at 2.5% of the GDP * A single window clearance for filmmakers * Nine priority sectors for govt: To build next-gen infrastructure - physical as well as social; (1) To build a Digital India that reaches every citizen; (2) Clean and Green India; (3) Expanding rural industrialization using modern industrial technologies; (4) Clean Rivers - with safe drinking water to all Indians; (5) Oceans and coastlines; (7) India becoming launchpad of the world; (8) Self-sufficiency in food and improving agricultural productivity with emphasis on organic food; (9) Healthy India; (10) Minimum Government MaximumGovernance, with proactive, responsible and friendly bureaucracySocial schemes:*Govt to build 1 lakh digital villages* For the welfare of farmers and for doubling their income, historic decision was taken to increase MSP by 1.5 times the production cost for all 22 crops* To ensure cleaner fuel and health assurance, we embarked upon Pradhan Mantri Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, 6 crore connections have been given already* Committee under NITI Aayog to be set up to for denotifed nomadic & semi nomadic communities * A single window clearance for filmmakers to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracyState of Economy:*India is poised to become a $5 trillion economy in next 5 years, $10-trillion economy in the next eight years * Black money: Committed to eliminating the scourge of black money; anti-black money measures taken have brought an undisclosed income of about 1.30 lakh crore rupees to the fore; 3.38 lakh shell companies were deregistered*GST has been continuously reduced, resulting in relief of 80,000 crore rupees to consumers; most items of daily use for poor and middle class are now in the 0%-5% tax bracket*Fiscal deficit seen at 3.4 percent in FY 19 and Current account deficit at 2.5% of the GDP * We have recovered Rs 3 lakh crore through Insolvency and Bankruptcy Code. Govt expects banks on the central bank's Prompt Corrective Action list to be removed soon.* Indian GDP: Growth in the last 5 years has been higher than that by any other govt. Spent Rs 2.6 lakh crore in recap of PSU Banks* Average inflation in UPA government was 10% and we have brought that down that to 4 percent. Inflation in December 2018 was 2.1%. If we had not controlled inflation our families would have been spending 35-40 per cent more on daily use items* We conducted transparent auctioning of natural resources like coal and oil* Domestic air traffic doubled in the last 5 years* Over 90 percent of the country has been covered under sanitation coverage. People have made this a social revolution and i thank the 130 people of the country. More than 5.45 lakh villages have been declared Open Defecation Free* In the past, false promises were made but we have taken targeted expenditure on all dimensions* Everybody will get electricity connection in the near future. We have provided 143 crore electricity bulb to the poor * Ayushman Bharat the world's largest healthcare programme was launched to provide medical care to almost 50 crore people, resulting in 3,000 crore savings by poor families* Lower costs of Stents & Knee implants have benefitted people. Government has announced 14 new AIIMS since 2014* Loans worth Rs 7.23 lakh crore have been given under Mudra Yojana*Monthly mobile data consumption has increased 50x in last 5 years; cost of data & voice calls in India is possible the lowest in the world
Source: ET

MM surges 5% on better January sales number

Posted: 01 Feb 2019 12:05 AM PST

MM surges 5% on better January sales number
MM surges 5% on better January sales number In the commercial vehicles segment, the company sold 22,625 vehicles versus 21,002 vehicles, a growth of 8%.

Source: MC

Emami Q3 review: Success in silos but mojo is missing

Posted: 01 Feb 2019 12:05 AM PST

Emami Q3 review: Success in silos but mojo is missing
Emami Q3 review: Success in silos but mojo is missing Rural-led growth and market intervention should improve given the significant progress the company has achieved in terms of direct distribution reach

Source: MC

Rs 1.30 lakh cr undisclosed income detected post anti-black money measures

Posted: 01 Feb 2019 12:05 AM PST

Rs 1.30 lakh cr undisclosed income detected post anti-black money measures
Rs 1.30 lakh cr undisclosed income detected post anti-black money measures "Anti-black money measures including demonetisation led to the discovery of undisclosed income of Rs 1.30 lakh crore, seizure of Rs 50,000 crore," Goyal said while presenting Interim Budget for 2019-20 in the Lok Sabha.

Source: MC

AIIB likely to invest $1.4 bn for development projects in Pakistan

Posted: 01 Feb 2019 12:05 AM PST

AIIB likely to invest $1.4 bn for development projects in Pakistan
AIIB likely to invest $1.4 bn for development projects in Pakistan The Beijing-based AIIB is considering investment in the Karachi Bus Rapid Transit (BRT) project, Rawalpindi#39;s Ring Road project, Lahore Waste Water Management project and Karachi Water and Sewerage Service project among others, the Express Tribune reported on Friday.

Source: MC

Defence budget increased to over Rs 3 lakh crore in 2019-20: FM Piyush Goyal

Posted: 01 Feb 2019 12:05 AM PST

Defence budget increased to over Rs 3 lakh crore in 2019-20: FM Piyush Goyal
Defence budget increased to over Rs 3 lakh crore in 2019-20: FM Piyush Goyal Announcing substantial hike in military service pay, the finance minister said defence budget has been increased to over Rs 3 lakh crore in 2019-20.

Source: MC

Budget an #39;account of votes#39;, not vote on account: P Chidambaram

Posted: 01 Feb 2019 12:04 AM PST

Budget an #39;account of votes#39;, not vote on account: P Chidambaram
Budget an #39;account of votes#39;, not vote on account: P Chidambaram The senior Congress leader claimed that the government had missed the fiscal deficit target, as warned by him earlier.

Source: MC

Govt proposes to raise TDS on interest income to Rs 40,000

Posted: 01 Feb 2019 12:04 AM PST

Govt proposes to raise TDS on interest income to Rs 40,000
Govt proposes to raise TDS on interest income to Rs 40,000 The proposal will benefit senior citizens and small depositors who depend upon income from interest on deposits in banks and post offices, he said while presenting Budget 2019-20.

Source: MC

Budget 2019: Gross market borrowing seen at Rs 7.1 lakh crore in FY20

Posted: 01 Feb 2019 12:04 AM PST

Budget 2019: Gross market borrowing seen at Rs 7.1 lakh crore in FY20
Budget 2019: Gross market borrowing seen at Rs 7.1 lakh crore in FY20 The Centre’s market borrowing plan, along with RBI’s monetary stance, would indicate the direction in which bond yields are headed

Source: MC

Drill, China, drill: State majors step on the gas after Xi Jinping calls for energy security

Posted: 01 Feb 2019 12:04 AM PST

Drill, China, drill: State majors step on the gas after Xi Jinping calls for energy security
Drill, China, drill: State majors step on the gas after Xi Jinping calls for energy security CNPC, Asia#39;s largest oil and gas producer and parent of PetroChina, is boosting risk exploration investment five-fold to 5 billion yuan ($741 million) this year from 1 billion yuan last year.

Source: MC

Piyush Goyal sounds poll bugle: Direct cash to farmers, pension for unorganised workers, tax break for middle class

Posted: 01 Feb 2019 12:04 AM PST

Piyush Goyal sounds poll bugle: Direct cash to farmers, pension for unorganised workers, tax break for middle class
Piyush Goyal sounds poll bugle: Direct cash to farmers, pension for unorganised workers, tax break for middle class The budget, the last before the country votes for a new Lok Sabha in April-May, also broke the convention of not announcing major income tax changes when governments are in transition.

Source: MC

Budget 2019: India fastest highway developer in world, says FM Piyush Goyal

Posted: 01 Feb 2019 12:04 AM PST

Budget 2019: India fastest highway developer in world, says FM Piyush Goyal
Budget 2019: India fastest highway developer in world, says FM Piyush Goyal Presenting the Interim Budget for 2019-20 in Lok Sabha, Goyal said there are now 100 functional airports in India with the latest addition of the airport in Sikkim.

Source: MC

Realty stocks rally as FM Goyal announces sops for middle class

Posted: 01 Feb 2019 12:04 AM PST

Realty stocks rally as FM Goyal announces sops for middle class
Realty stocks rally as FM Goyal announces sops for middle class The Nifty Realty index soared over 3 percent, led by gains in names such as Indiabulls Real Estate, DLF, Oberoi Realty Phoenix, Godrej Properties and Prestige Estates rose 1-6 percent.

Source: MC
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