Post considering local sales tax or value-added tax (VAT), which is charged after adding central excise duty on base price, the increase in petrol price would be over Rs 2.5 per litre and that on diesel would be Rs 2.3.
Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied an additional surcharge on super rich and brought a tax on high-value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Sitharaman made the announcement while presenting the Union Budget 2019-20 in the Parliament. "To popularise sports at all levels, a National Sports Education Board for development of sportspersons will be set up under Khelo India," the Finance Minister said.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
The All-India Motor Transport Congress also alleged that there is a move to make way for foreign players into the industry through such moves.
The finance minister further proposed to "initiate steps towards creating an electronic fundraising platform – a social stock exchange - under the regulatory ambit of SEBI for listing social enterprises and voluntary organisations working for the realisation of a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund".
Uttar Pradesh CM Yogi Adityanath has said that the Union Budget presented by the Modi government represents everyone's trust and that it is aimed at making India a global economic power.
Start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of angel tax scrutiny.
With Budget 2019, the government announces new tax benefits to make Electric Vehicles and e-vehicles purchase easier for buyers, by lowering the GST rate on electric vehicles from existing 12 per cent to 5 per cent.
The government Friday increased revenue expectation from the telecom sector, which is reeling under financial stress, to Rs 50,519 crore in 2019-20. The Budget documents presented in Parliament on Friday showed provision of Rs 50,519.81 crore as non-tax revenue from the communication sector for 2019-20 which was kept at Rs 41,519 crore in the Interim Budget 2019-20 in February.
For every rupee in the government coffer, 68 paise will come from direct and indirect taxes while states' share of taxes and duties is the single-largest expense head accounting for 23 per cent of total spending, budget documents showed.
The Union Budget 2019 was carried by the Finance Minister Nirmala Sitharaman enclosed in a 'bahi khata' which happens to be a red cloth folder that had the national emblem emblazoned on it in gold.
The BJP hailed the Union budget on Friday as one for a "new India" that laid the foundation for an inclusive and progressive nation, while the Congress panned it for its "maximum intent" and "minimum content". Finance Minister Nirmala Sitharaman presented the Union budget on Friday and said the NDA government had set the ball rolling for a "new India" in its first term.
Presenting her maiden budget, Finance Minister Nirmala Sitharaman on Friday said steps need to be taken to bring capital markets closer to the people and proposed raising the threshold for minimum public shareholding from 25 per cent to 35 per cent.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
It also sets the stage for fulfilling our collective dreams of water for every citizen, ensuring electricity connectivity across India and boosting manufacturing especially in sunrise sectors, Shah said, adding that the budget will enable India to become a more vibrant start-up hub.
Presenting the first Budget of the Modi government in its second term, Sitharaman also announced customs duty exemption on components of specified electronic goods.
Union Minister for Road Transport & Highways Nitin Gadkari: In the making of New India, Finance Minister has given utmost priority to infrastructure. The budget of our dept in 2018-19 was Rs. 78,626 crore, now it is over Rs. 83,000 crore.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
The hike in the sell-off target comes amid the slow growth in tax proceeds, forcing the government to raise revenue from non-tax revenue sources.
Top News
Latest News
