Union budget of india

India's economy returned to growth in the December quarter, ending a recession induced by two successive quarters of economic contraction, and the recovery, which the the government termed as 'V' shaped, is expected to gather pace. The Gross Domestic Product (GDP) grew 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed. This growth compares with revised contractions of 24.4 per cent in April-June 2020 and 7.3 per cent in July-September. GDP had expanded by 3.3 per cent in October-December 2019. While India has become one of the few major economies to post growth in the last quarter of 2020, the annual GDP estimate for the fiscal year ending March 31 has been revised to an 8 per cent contraction, deeper than an earlier estimate of (-) 7.7 per cent. China's economy grew by 6.5 per cent in October-December 2020, faster than the 4.9 per cent growth in July-September ... » Learn More about India exits recession, economy returns to growth in Dec quarter

By Peter George Bengaluru based Vishwanathan Ramakrishnan, along with his childhood friend Karthik Lakshaman, wanted to make learning experience for children fun by creating unique products in the education technology space. That is how start-up Magic Crate was conceived but building a suite of creative products for children with limited funds meant several amenities had to be procured at an economical cost. This is where ecommerce as an e-procurement platform stepped in, helping them realise their dreams by offering an optimal blend of opportunity, quality and cost and streamlining the complete procurement process for them. The story of Magic Crate is just one of many MSMEs that have a huge growth potential in India. Backbone of India’s economy - MSMEs: In focus now Contributing over 29% of India's GDP, over 90 lakhs-plus registered MSMEs employ nearly 11 crore people in the country(1|2). Since these enterprises contribute to 48% of the country’s exports, there is a ... » Learn More about B2B ecommerce- Unlocking the potential of thousands of MSMEs in India

Chennai : Ahead of the assembly elections likely in April, the AIADMK government in Tamil Nadu on Tuesday presented an interim budget for 2021-22 with the COVID-19 pandemic contributing to a 17.64 per cent fall in revenue and a widening of fiscal deficit. The budget, presented amid a boycott by DMK and its allies, projected a positive growth rate of 2.02 per cent in 2020-21 as it expressed hopes of the economy rebounding due to various sustainable policy decisions of the government. Amid expectations of sops with elections around the corner, Deputy Chief Minister O Panneerselvam, who holds the Finance portfolio, allocated Rs 5,000 crore for the Rs 12,110.74 crore co-operative crop loan waiver scheme, announced earlier this month by Chief Minister K Palaniswami. He also urged the Centre not to utilise the 15th Finance Commission recommended grants to substitute their share of funding for the central sector and centrally-sponsored schemes. "I reiterate my call to the ... » Learn More about Revenue plunges, fiscal deficit zooms: AIADMK govt presents interim budget ahead of Tamil Nadu assembly election

We should thank our Finance Minister and congratulate every Indian for this excellent Budget, as it is good for everyone and a step in the right direction. The best part of the budget is that there is no taxation announcement like COVID-tax, long-term capital gains tax, or wealth tax as was expected by the market. On the Finance Minister’s part, I would say this was a masterstroke as she ensured that the sentiment is not affected as it is essential to raise money for disinvestment as well as for privatisation. There were important announcements on the infrastructure front like establishment of a Development Finance Institution (DFI) to boost long-term financing for the country’s infrastructure sector, allow Foreign Portfolio Investors to debt finance REITs and InvITs after necessary amendments to the law. Budget has allocated ₹20,000 crore for the DFI, with an ambition for the lender to have a portfolio of ₹5 lakh crore within three years’ time. Another positive news is the ... » Learn More about Union Budget 2021 | A Budget to boost economic recovery: IIFL’s Nirmal Jain

Chennai : Borrowings by the Tamil Nadu government were well within limits prescribed by the Finance Commission, state Finance Secretary S Krishnan said on Tuesday. Addressing the post-budget press conference, he also said Tamil Nadu's share of taxes on petroleum products has fallen since the introduction of cess by the Centre. Amid Opposition criticism of the state's overall estimated debt of Rs 5.70 lakh crore with the government intending to borrow Rs 84,686 crore, the official said it was within the 15th Finance Commission limits, unlike some states which have raised more funds 'breaching' the ceiling. Krishnan said the Centre has allowed states to borrow up to 5 per cent of their gross state domestic product (GSDP) as against the earlier 3 per cent limit in view of the COVID-19 pandemic. "The increase in the borrowings was in the wake of the pandemic. However for 2021-22, it has been revised to 4 per cent (of GSDP)", he said. "What one has to see here is -- ... » Learn More about Borrowings by Tamil Nadu govt well within limits, says state’s Finance Secy S Krishnan

B y Megha Jain and Vanyaa Gupta In the wake of incessant hike in fuel prices , there is no option left but to shift gears to renewable sources of energy. The sooner the better! Today, there have been continuous efforts to engage in renewable sources of energy for electricity generation that can further, be utilised to minimise the cost of various operations at present. Electric Vehicles (EVs) is one such example of utilizing energy in the most sustainable manner. As they say, ‘necessity is the mother of every invention’; today, there is a dire need for energy-efficient vehicles in India that could reduce the emission of chlorofluorocarbons (CFCs) in the atmosphere and in turn, could stop global warming . Needless to say, the recent calamity in Uttarakhand, India, which engulfed hundreds of lives because of global warming gives us even a stronger reason to further delve into this field. Let us take a closer look at it. EVs in the global market EVs have ... » Learn More about Opinion: Can EVs pave the way for a greener electric nation?

MSME ) would have a separate book written on them. Such is the contribution of the sector that not only it accounts for 29% of Indian GDP, but also employs over 11 crore people in its 6.3 crore enterprises. However, hit by the COVID-19 and its aftermath, the MSME sector almost crash-landed in 2020, facing a strong contraction in revenue . The sector suffered the most in ensuring business continuity, challenged by severe liquidity crunch and dipping demand. Amidst the crisis, it's the government's consideration for the stressed sector that has provided much impetus for the MSMEs. Fiscal Policy Support from RBI The Reserve Bank of India recently issued a notification allowing banks to deduct the amount released to new MSME borrowers from their net demand and time liabilities. This means that banks are exempted to maintain cash reserve ratio for the loans disbursed from January 1 to October 31 2021 to first time MSME borrowers. Furthermore, RBI has also allowed ... » Learn More about Ways for MSMEs to emerge stronger after the Covid pandemic

For Quick Alerts Subscribe Now 'Regret not learning Tamil': PM Modi on Mann Ki Baat View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts #Harsh Vardhan Dr Harsh Vardhan should say he is not endorsing Patanjali's Coronil, says Indian Medical Association #Harsh Vardhan IMA ''shocked'' over Patanjali’s claim on Coronil; demands explanation from Harsh Vardhan #Harsh Vardhan Harsh Vardhan appeals to healthcare, frontline workers to get vaccinated against COVID #Harsh Vardhan India stands on threshold of vaccinating each and every Indian against COVID-19: Vardhan #Harsh Vardhan About 18-19 vaccine candidates against COVID-19 in pipeline: Harsh Vardhan #Harsh Vardhan Vardhan shares pic of Covaxin vial after Chhattisgarh govt alleges expiry date missing Just In 7 min ago 'Regret not learning Tamil': PM Modi on Mann Ki Baat 26 min ago ... » Learn More about Centre committed to strengthen connectivity, bring development in north-east region: Harsh Vardhan

AHMEDABAD: The Indian Institute of Management Ahmedabad (IIMA), welcomed Finance Minister, Nirmala Sitharaman as she joined MBA students of the globally recognized, premier management institute, for an interactive session on the theme 'The Economic Rebound and the Indian Economy in 2021 and Beyond with its students. Hosted by IIMA's JSW-School of Public Policy, was the first on ground event held at the Institute since the pandemic. The session threw light on various aspects of the Indian economy including return of consumer confidence, robust financial markets, an uptick in manufacturing, education sector and the decrease in the budget allocation this year, PSU disinvestment target, health expenditure, skill India, fuel prices reduction, savings and borrowing scheme, upskilling: for automation and gig workers, investment in infrastructure, agriculture and many more. Speaking on the occasion Prof. Errol D'Souza, Director, IIMA Programmes said, "It is our honour and an ... » Learn More about Sitharaman joins leaders of tomorrow at IIM Ahmedabad for interactive session