India will shift from targeting a specific fiscal deficit level after 2025-26 to using the debt-to-GDP ratio as the fiscal policy anchor, according to Finance Secretary T.V. Somanathan. The government aims to reduce the fiscal deficit to below 4.5% of…
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Budget 2024: The government will not pre-announce its divestment plans to ensure optimal value for public companies, Finance Secretary TV Somanathan said in an exclusive interview with ET NOW on Wednesday. This strategic approach aims to maximize the financial returns…
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The Budget proposes to amend section 198 of the I-T Act to include income taxes paid outside India for the purpose of computing the income of the taxpayer who is liable to tax in India. This proposal will be effective…
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CBDT Chairman Ravi Agrawal said the removal of this tax will act to boost the startup ecosystem in India. He would urge the community to “please come forward, please invest as the country is waiting for your investment, initiatives and…
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Removal of the Angel tax for startups was a long pending issue as this levy was on investment coming into the country and such overseas inflows should not be taxed, a top government official said.
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The Union Budget 2024 focuses on agricultural productivity, MSME support, capex investments, and skilling to address unemployment. However, experts noted some areas were overlooked: the unchanged nominal GDP at 10.5% seemed conservative, education and health were underfunded, there was a…
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