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  • Economy

    Announcements made by FM are major enablers to support growth: SBI chairman

    Bank recapitalisation at one go will provide a big impetus to credit growth. New Delhi: SBI chairman, Rajnish Kumar on Friday said that the announcements made by Union Finance Minister Nirmala Sitharaman will act as major enablers for continuing to support growth. "The announcements will act as major enablers for continuing to support growth. Bank recapitalisation...

    • 23 hrs ago
  • Economy

    Home, auto, other retail loans to become cheaper: Sitharaman

    The move will also lead to cheaper working capital loans for industry. New Delhi: Home, auto and other loans are set to become cheaper as the government on Friday said the public sector banks will soon be lending at RBI's benchmark-linked rate and get an additional Rs 70,000-crore upfront capital infusion that will boost their lending capacity in the market by Rs 5 lakh crore....

    • yesterday
  • Economy

    Govt to review surcharge on super-rich in 2022: Sitharaman

    Govt increased surcharge from 15 per cent to 25 per cent on taxable income between Rs 2 crore and Rs 5 crore. New Delhi: Ruling out any immediate review of enhanced surcharge on super rich, Finance Minister Nirmala Sitharaman on Friday said the matter will be looked into only in 2022, when the country will celebrate the 75th anniversary of independence. In the 2019-20 Budget, the...

    • yesterday
  • Economy

    Govt announces raft of measures to boost economy; more steps on anvil

    The government has set fiscal deficit target of 3.3 per cent of the GDP for the current fiscal. New Delhi: The government on Friday announced a raft of measures, including rollback of enhanced super-rich tax on foreign and domestic equity investors, exemption of startups from 'angel tax', a package to address distress in the auto sector and upfront infusion of Rs...

    • yesterday
  • Economy

    India rolls back tax hike on investors; outlines steps to boost sentiment

    Sitharaman said she was confident of meeting the fiscal deficit target of 3.3 pc of GDP considering the trend in revenue collections. New Delhi: India is rolling back recent tax hikes on foreign and domestic equity investors and is accelerating a capital infusion of USD 10 billion into state-run banks, the finance minister said late on Friday, in an attempt to boost...

    • yesterday
  • Economy

    Banks to get Rs 70,000 crore more, system to bulge by Rs 5 lakh crore

    The move is expected to generate an additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore. Mumbai: The government took a heads-on approach to address the slump in the economy, deciding to infuse Rs 70,000 crore budgeted for the recapitalisation of public sector banks in the current financial year, on an immediate basis. The move is expected...

    • 2 days ago
  • Economy

    Home, vehicle, other retail loans to become cheaper: FM

    Working capital loans for industry will also become cheaper, FM Nirmala Sitharaman said. New Delhi: The government on Friday announced a slew of measures to ensure that loans for home, vehicles and consumption goods become cheaper and widely available through banking and non-banking finance companies. Addressing the media here, Finance Minister Nirmala Sitharaman also said that banks will...

    • 2 days ago
  • Economy

    Code on Wages 2019 becomes a reality; minimum wage for 50 cr workers on the anvil

    The government has notified the Code after it received assent from the President of India on August 8. New Delhi: The Code on Wages 2019, which paves the way for the introduction of mandatory minimum wages at the national level for 50 crore workers, has become a reality now. The Lok Sabha on July 30 had cleared The Code on Wages Bill, 2019, followed by the Rajya...

    • 2 days ago
  • Economy

    'Unprecedented' situation in financial sector: NITI Aayog Vice Chairman

    GDP growth is set to slow further in April-June quarter of this year to 5.7 pc amid contraction in consumption, weak investments. New Delhi: Vice Chairman of NITI Aayog Rajiv Kumar has termed the ongoing situation in financial sector as unprecedented and called for extraordinary steps to tackle it. "This is an unprecedented situation for the government. In the last 70...

    • 2 days ago
  • Economy

    EPFO approves changes in Employees' Pension Scheme to restore commutation of pension

    The move would benefit the pensioners who had opted for commutation and got a lump-sum amount at the time of retirement before 2009. New Delhi: Providing relief to 6.3 lakh pensioners, retirement fund body EPFO has approved a proposal to restore commutation, or advance part-withdrawal, under the Employees' Pension Scheme. The move would benefit the...

    • 3 days ago

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