Decoding the Budget

Finance Minister Nirmala Sitharaman's statement to present a "budget like never before" has raised expectations to revive the COVID-struck economy at this crucial juncture in its resurrection story

These three key sectors expect govt to deliver a game-changing super over

Jan 20, 2021

The Union Budget 2021 should reflect concrete and enthused government efforts to boost both consumption and demand for an overall push to the economy

Under international names, five companies manufacturing smartphones for Apple and Samsung were approved

Budget 2021: Custom duty hike to increase smartphone prices, manufacturers might do away with charging adaptor

Feb 01, 2021

The custom duty policy must have twin objectives of promoting domestic manufacturing and helping India get on to global value chain and export better, said Finance Minister Nirmala Sitharaman

The change in deadline for filing belated, revised ITR will be applicable from the assessment year April 1, 2021

Budget 2021: Deadline for filing belated, revised ITR reduced by 3 months

Feb 01, 2021

The government has proposed to reduce deadline for filing belated, revised ITR by three months from March 31 of the relevant assessment year to December 31 of the assessment year

Nifty Bank hit at an all-time high today

Sensex, Nifty clock strongest Budget day rally after FM's speech cheers investors

Feb 01, 2021

The 2021 Union Budget announcements that cheered investors today included hike in foreign direct investment (FDI) limit in insurance from 49% to 74%, scrappage policy for vehicles, privatisation of two nationalised banks and proposal of monetisation of assets

The economy is expected to rebound with 11 per cent GDP growth in 2021-22 from a contraction of 7.7 per cent in 2020-21

Union Budget 2021: Expand, Borrow, Spend and Grow

Feb 01, 2021

The government has also set a five-year long fiscal consolidation path to 4.5 per cent fiscal deficit by 2025-26. This means the government expansionary fiscal stance to support the growth will continue

Budget 2021: Details of salary income, tax payments, TDS already come pre-filled in income tax returns

Budget 2021: Govt simplifies ITR filing; dividend, interest income, capital gains to come pre-filled

Feb 01, 2021

Budget 2021: Finance Minister says to further ease filing of returns, details of "capital gains from listed securities, dividend income, and interest from banks, post office, etc, will also be pre-filled"

Like every Budget, the finance minister also announced changes in tax and duty on many items.

Budget 2021: What's costlier, what's cheaper?

Feb 01, 2021

While the government has reduced customs duty on gold and silver, gold and silver dore bar, among others, it has proposed an Agriculture Infrastructure and Development Cess (AIDC) on them.

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Budget 2021: To rein in steel prices, import duties slashed, curbs on imports removed even for China

Feb 01, 2021

Prices of key raw materials including steel have gone up as strong demand from China at a time when most countries were under a shutdown last year created an acute demand supply gap

Budget 2021: Tax buoyancy projected to be 1.2 in FY22

Feb 01, 2021

Tax buoyancy, which describes the sensitiveness of tax revenue growth to changes in nominal GDP, is expected to touch 1.2 in FY22, marginally lower than 1.3 in FY21 (both tax revenues and GDP are projected to decline)

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Budget 2021: Aviation sector gives thumbs up to leasing tax sops

Feb 01, 2021

The airlines in India typically take aircraft from lessors (on lease) who are based overseas. IndiGo, for instance, has over 200 planes on lease, and so is the case with other airlines like SpiceJet, GoAir, Vistara and Air India

Budget 2021

Budget 2021 can help India become world's textile outsourcing capital

Feb 01, 2021

Budget 2021: In order to benefit farmers and promote domestic manufacturing, the government has also raised customs duty on cotton from nil to 10 per cent and on raw silk and silk yarn from 10 per cent to 15 per cent