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It is time to say goodbye to financial year 2015-16! Did something keep you from planning your taxes this year? Don't worry. There are still a couple of weeks to make the most of tax saving for this year. Here's a list of seven essential to-dos.
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The individual tax measures proposed by the Finance Minister reflect the government's desire to provide socio-economic security to everyone. Of course, they will have to face the test of time before we can say that the desired parity in socio-economic conditions has been achieved.
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There was plenty of good news for the education sector as Finance Minister Arun Jaitley unveiled the third Budget of the Narendra Modi government on 29 February. Education experts say the budget has laid out a good roadmap for the future of education and skill development.
Reviving the agrarian economy, which has seen distress on the back of two consecutive droughts, has been the fulcrum of the Budget this year, with a total allocation of ₹87,700 crore for rural development. The FY17 Union Budget has also clearly been guided by the principles of saamaajik vikas or social development.
Do you know how much an Indian farmer earns? In 17 states, he earns less than ₹20,000 annually, according to National Sample Survey (NSS) data. When it came to power in 2014, the BJP had promised to double farmer incomes in five years. It is now trying to make good that promise, with this year's Budget taking a few big strides and some baby steps towards it.
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Slowly but surely, there is a cashless and digital payments revolution underway in India and it deserves a lot more attention than it is currently getting. Tax benefits are the proverbial carrot to make the transition from a heavily cash-led economy to a digital India. Even in urban areas, it encourages new influential segments like young adults, homemakers and dependents to shift from cash.
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Our Finance Minister has a tough job keeping government's tax revenue and borrowing in check, and an empathetic view is what he needs. But ask we must and here's what the Finance Minister could do with his Budget for this year to make it a taxpayer's delight.
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MUMBAI -- India will sell a 5 percent stake worth about $730 million in its top power producer NTPC Ltd, as the government races against time to raise funds via asset sales to meet this year's fiscal...
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I am confident that the right fiscal action, coupled with the turnaround in the global economy, will boost India's economic and industrial growth to the next level, and make 2016 India's year. Here are 10 recommendations that could be instrumental in this regard.
While it is true that the Finance Commission has recommended a 10% increase in the share of the States in the divisible pool, it is not true that the award leaves 'far less money with the Central Government' if the Centre's finances are considered as a whole, i.e., including money not in the divisible pool.
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In the midst of the budget brouhaha we should pause and ask ourselves: Is reform a singular annual event? Should the government have to wait for the end of February to prescribe remedies for the failings that plague our economy? Is it necessary to waste political and human capital over what is in effect the announcement of the fiscal vision for the country?
Programmes like Make in India and Digital India are great initiatives for the technology revolution, but what the IT sector and start-ups in particular are really looking forward to in the upcoming budget is service tax exemption.