EOD Update 05-07-2019

Need Policies To Improve Water Efficiency In Farm Sector: Economic Survey

There was 33 per cent deficient in rainfall during June that led to less coverage of kharif crops

Budget 2019: Services Sector Witnesses 7.5% Growth In 2018-19

The IT-BPM industry grew by 8.4 per cent in 2017-18 to US$167 billion and is estimated to have reached US$181 billion in 2018-19.

India Must Spend $200 Billion On Infrastructure Annually: Economic Survey

India has been able to spend only about $100-110 billion annually on infrastructure, leaving a deficit of around $90 billion per annum,” it said.

Indian Economy Grows To $2.75 Trillion In 2018-19: Economic Survey

According to data from the World Bank, India surpassed France and emerged as the world’s sixth-largest economy in 2017

Krishnamurthy Subramanian Explains How Economy Can Get To Virtuous Cycle

Mr Subramanian said that the report has tried to focus on Prime Minister Narendra Modi’s vision of making India a $5 trillion economy by 2024-25.

LS passes Aadhaar Amendment Bill

L&T Finance raises $550 million through ECB

Removal of US tariffs on Chinese exports should be part of any trade deal: China

Refrain From Nudging State-Run Lenders To Pump-Prime Economy: Urjit Patel

Urjit Patel’s presentation pointed out that in Indian banks, capital is low relative to NPAs when compared to global standards

Rupee Rises By 39 Paise To End At 68.50 Ahead Of Budget

Forex traders said the budget will give further cues going ahead in the currency market.

Foreign Investment Into Services Down 1.3% In FY19: Economic Survey

FDI equity inflows into the services sector accounted for more than 60 per cent of the total FDI equity inflows into India

Govt spent Rs 43.48 crore over 5 years to propagate of Hindi worldwide: MEA

Economic Survey Suggests “Diplomatic”-Type Privileges For Top Taxpayers

The highest taxpayers over a decade could be recognised by naming important buildings, monuments, roads the Survey suggested

Yes Bank acquires over 9% stake in Eveready by invoking pledged shares

Economic Survey Suggests Single Code For Fixing Minimum Wages

The Economic Survey was tabled in Parliament by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman a day ahead of the Union Budget

Adani Power acquires GMR Infra#39;s 1,370-mw Chhattisgarh plant

Budget: Basic Tax Exemption Limit To Be Raised To Rs 3 Lakh, Says Report

In the interim Budget, the government had proposed a rebate on all payable taxes if an individual’s taxable income is up to Rs 5 lakh per annum

Centre Orders Probe Into Jet Over Alleged Fund Mismanagement: Report

The ministry ordered Serious Fraud Investigation Office (SFIO) to carry out the probe, according to a government order

India To Become $3 Trillion Economy This Year: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said India will become a $3 trillion economy in the current year itself.

DHFL drops as NBFC sells prime Mumbai property at discount.

Time To Take Capital Markets Closer To Masses, Says Nirmala Sitharaman

This Budget is the first full budget by the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after returning to power in May.

Nirmala Sitharaman Proposes Public-Private Partnership For Railways

Union minister Nirmala Sitharaman today proposed public-private partnerships in Railways to build more tracks and increase connectivity across the country.

Clean Cooking Facilities For All Families By 2022: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman, announcing the Union Budget for 2019-20 in Parliament on Friday, said India will become a $3 trillion economy this year.

Need Structural Reforms To Reach $5 Trillion Economy: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said India needs to make structural reforms to achieve USD 5 trillion economy in the next few years.

Public Private Partnership To Be Unleashed To Develop Rail Infrastructure

Finance Minister said corporate India is a job creator and wealth creator and called for public private partnership to develop rail infrastructure.

KYC Norms For FPIs To Be Eased: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman, on Friday, said KYC norms would be eased for foreign portfolio investors.

Centre Proposes FDI Norm Relaxation In Media, Aviation, Insurance

The government on Friday proposed relaxation in the FDI norms for sectors such as media, aviation, insurance, and single brand retail with a view to attract more overseas investment.

Centre Suggests Easing Foreign Investment Norms For Media, Aviation

The government today proposed relaxation in Foreign Direct Investment (FDI) norms for sectors such as media, aviation, insurance, and single brand retail.

Aadhaar For NRIs On Arrival Without Waiting: Nirmala Sitharaman In Budget

Finance Minister Nirmala Sitharaman said in the Union Budget that non-resident Indians (NRIs) may get Aadhaar cards on arrival, without the mandatory waiting period.

Comprehensive Revamp Of National Highways On Cards: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman Friday said there will be a comprehensive restructuring of National Highways Programme to ensure creation of National Highways Grid of desirable capacity.

Budget Proposes More Foreign Investment in Media, Aviation

Union minister NIrmala Sitharaman today indicated the government is ready to relax the norms in Foreign Direct Investment or FDI in sensitive areas like aviation, insurance as well.

Union Budget Proposes To Make NRI Investment Much Easier

Nirmala Sitharaman said that NRI investment in the country would be made much easier by merging NRI portfolio route with foreign portfolio investment.

India To Become $3 Trillion Economy This Year, Says Finance Minister

Nirmala Sitharaman added that the first term of Narendra Modi-led NDA government “stood out as a performing government”.

Rail Infrastructure Requires Rs 50 Lakh Crore Till 2030: Nirmala Sitharaman

“These along with other such initiatives such as Udaan scheme will improve India”s infrastructure, enable connectivity, and bridge the rural and urban divide,” said Nirmala Sitharaman.

FM Nirmala Sitharaman pushes Sebi to raise public stake limit to 35%; analysts cagey
At present, there are over 1,400 listed companies where promoters had over 65 per cent stake.

Cuts Corp Tax Rate To 25% For Cos With Annual Turnover Of Rs 400Cr

STT restricted to difference between settlement & strike price of options

RBI to take over as HFC regulator from NHB

Custom duty on gold and other precious metal increased by 2.5% to 12.5%

TDS of 2% for withdrawals of Rs 1 crore in a year from bank accounts for business payment

Road And Infrastructure Cess Raised By Re 1/Litre On Petrol, Diesel

Govt has already moved GST council to lower the GST rate on electric vehicles(EV) from 12% to 5%

For Income Tax Returns, Either Aadhaar Or PAN Will Do, Says Minister

Union minister Nirmala Sitharaman today said Aadhaar and PAN or Permanent Account Number will be interchangeable when it comes to filing Income Tax returns.

Government To Infuse Rs 70,000 Cr Into State-Owned Banks

The government has decided to infuse Rs 70,000 crore in the state-owned banks, so that credit growth can be improved.

Budget 2019: Govt allocates Rs 10,000 cr for electric vehicles scheme

Government Aims To Build 1.95 Crore Houses Under PM’s Scheme

Finance Minister Nirmala Sitharaman Friday said the government will build 1.95 crore houses under the Pradhan Mantari Awas Yojna (PMAY) – Gramin over the next two years.

Budget 2019: No Changes In Income Tax Structure For Small Taxpayer

Without proposing any changes to income tax slabs and rates, Ms Sitharaman proposed to enhance the surcharge on the super rich.

FM hails India Inc as job creators, sees GDP at $3 trillion this year

Government Gives Central Bank More Power to Regulate Shadow Lenders

The crisis in NBFC sector emerged a year ago when Infrastructure Leasing & Financial Services defaulted on a series of debt obligations

Budget 2019: Centre sets FY20 GST collection target at Rs 6.6 lakh crore

TCS, Wipro may offload shares worth Rs 75,000 crore if public shareholding rises to 35%

Direct Tax Collections Up By 78% In 5 Years, Says Nirmala Sitharaman

Budget 2019: According to government’s provisional figures, total direct tax collections stood at over Rs 11.37 crore in 2018-19

Interest Deduction On Home Loans Raised For Affordable Housing

The finance minister said the interest paid on housing loans is currently allowed as a deduction to the extent of Rs 2 lakh.

Government For 5% TDS For Payments Exceeding Rs 50 Lakh To Professionals

The proposed tax deduction at source (TDS) could be deposited using an individuals permanent account number (PAN) only.

Disappointed with govt intent to divest strategically in PSUs: Vikas Khemani

Government Proposes FDI Relaxation In Media, Single Brand Retail

Finance Minister Nirmala Sitharaman in her Budget speech said that India’s FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.

TCS, Wipro May Have To Sell Shares Worth Billions Of Dollars

Companies must increase shares held by the public to a minimum 35% from 25% at present, Finance Minister Nirmala Sitharaman said in her maiden budget.

Nirmala Sitharamans Budget a blueprint for creating $5-trillion economy by 2025: India Inc

Government To Revive Plan To Sell Air India After Last Attempt Flopped

Air India, which is surviving on a Rs 30,000 crore taxpayer-funded bailout, has failed to maintain its market dominance as a slew of carriers including InterGlobe Aviation and SpiceJet.

Tighter FY20 Fiscal Deficit Target Challenging To Achieve: Moody’s

Finance Minister said the government would cut its fiscal deficit target to 3.3% of gross domestic product (GDP) for the year ending March 2020.

PC Jeweller, Titan Fall After Government Increases Import Duty On Gold

Niramal Sitharaman while presenting Budget proposed to increase import duty on gold and other precious metals to 12.5 per cent.

Gold Tax Hike Fuels Smuggling Fears; May Hit Festival, Wedding Season

The import tax on gold and other precious metals will be raised to 12.5 per cent from 10 per cent, Finance Minister Nirmala Sitharaman said.

Nirmala Sitharaman’s Budget Lifeline For Struggling Shadow Banks

The shadow banking crisis erupted a year ago when Infrastructure Leasing & Financial Services Ltd. defaulted on a series of debt obligations

Corporate Tax Reduced To 25% For Firms With Rs 400 Crore Turnover

Currently, the lower rate of 25 per cent is only applicable to companies having annual turnover up to Rs 250 crore.

Budget 2019: Rs 3.18 lakh crore allocated to defence budget

Defence Sector Does Not Have Enough Money For Modernisation: Experts

Ashwani Siwach former head of Territorial Army said defence budget allotment is only 6 per cent more than last year’s budget.

Budget 2019: Government To Invest Rs 100 Lakh Crore In Infrastructure

The Budget estimated that Railway infrastructure would need an investment of Rs 50 lakh crores between 2018 and 2030

After Cautious Budget, Onus On RBI To Push Growth: Economists

In the fourth quarter of the fiscal year to last March 31, India’s economic growth slumped to 5.8 per cent, the slowest pace in 20 quarters

“Taxpayers Play A Major Role In Nation Building”: Nirmala Sitharaman

In today’s Budget announcement, Ms Sitharaman announced no changes in the income tax structure.

Budget 2019: Government Sets Disinvestment Target Of Rs 1.05 Lakh Crore

In 2018-19, the government raised Rs 84,972 crore from CPSE disinvestment, while in 2017-18, the figure was Rs 1,00,056 crore

Government To Make Big Investments In Agriculture, Allied Sectors

To ensure fair price to farmers, the minister said that the centre will work with state governments to allow farmers to benefit from e-NAM.

Budget 2019: Government Plans Rs 70,000 Crore Bank Recapitalisation

The state-owned banks, which control a majority of banking assets in India, have been weighed down by nearly $150 billion in stressed assets

Govt expects Rs 90,000 cr dividend from RBI in FY20

Bond yield crashes 80 bps to 6.56% intra-day, recoups to 6.69%

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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