Budget 2023: FM announces launch of National Data Governance policy, KYC to get simplified
Budget | February 01, 2023 12:41 ISTBudget 2023: FM Sitharaman also said that the process of KYC will be simplified by adopting a risk-based system.
Budget 2023: FM Sitharaman also said that the process of KYC will be simplified by adopting a risk-based system.
Budget 2023: The finance ministry is looking into proposals sent by various government departments on specific steps which may be announced in the Budget, benefitting a large section of the middle class.
Delhi: The timing of the matter is crucial as Union Budget 2023 is set to be presented after two weeks and a leak of any sensitive data may cost huge.
The police also claimed to have unearthed a data sheet containing information about approximately 3,000 potential victims.
UPI to remain free: In a tweet, the finance ministry said: "UPI is a digital public good with immense convenience for the public and productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services."
Government employees are currently required to purchase air tickets only from three authorised travel agents -- Balmer Lawrie & Co, Ashok Travel & Tours and IRCTC.
Finance Ministry yesterday said the Centre has already released eight months of GST compensation dues to the states for fiscal ended Mar 2022 and Rs 78,704 cr is pending due to inadequate balance in the cess fund.
Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract 3 per cent tax. In addition, there is an exempt list of items like unbranded and unpacked food items which do not attract the levy.
The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed disinvestment target of Rs 78,000 crore this fiscal.
Observing that the IMF in its January 2022 update has lowered its global growth estimate for 2022, the report said India is the only large and major country listed by the IMF whose growth projection has been revised upwards in 2022-23.
Chidambaram claimed that today's speech by Sitharaman was the 'most capitalist' speech made by any finance minister.
On Monday, the Economic Survey highlighted that 33.99 lakh houses were completed in 2020-21 and 26.20 lakh units as of November 25, 2021 under the Pradhan Mantri Awas Yojana - Gramin (PMAY-G) programme.
Defence Minister also welcomed FM Nirmala Sitharaman's announcement that 68 pc of the defence capital procurement budget would be allocated towards procurement from domestic industry.
Congress general secy and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
FM Sitharaman said that 68 pc of capital for the defence sector would be earmarked for the local industry.
Of the total revenue collected, CGST is Rs 24,674 cr, SGST is Rs 32,016 cr, IGST is Rs 72,030 cr and cess is Rs 9,674 cr.
As per the statement, of the rules of procedure and conduct of business lists the members of Rajya Sabha should "acknowledge their responsibility to maintain the public trust reposed in them and should work diligently to discharge their mandate for the common good of the people."
The government on Friday said there is no proposal to extend the deadline for filing income tax returns beyond its current deadline of December 31.
GST Council meet holds importance ahead of Union Budget which is presented on 1st day of February by Finance Minister in Parliament.
PM Modi interacted with the leading CEOs of companies across banking, infrastructure, automobiles, telecom to receive inputs and suggestions from the private sector for budget.
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