India

Gold prices zoom Rs 590 as budget hikes custom duty

New Delhi, Jul 5: Gold prices on Friday zoomed Rs 590 to Rs 34,800 per 10 gram in the national capital following Budget announcement of increase in custom duty on the precious metal to 12.5 per cent from 10 per cent.

The government proposed to increase custom duty on gold and other precious metals to 12.5 per cent, a...

BJP hails budget as one for 'New India'; Cong slams for 'maximum intent, minimum content'

New Delhi, Jul 5: The BJP hailed the Union budget on Friday as one for a "new India" that laid the foundation for an inclusive and progressive nation, while the Congress panned it for its "maximum intent" and "minimum content".

Finance Minister Nirmala Sitharaman presented the Union budget on Friday and said the NDA government had set the ball...

Petrol, diesel to be costlier; tax on super-rich, gold imports

New Delhi, Jul 5: Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.

Presenting the maiden...

Highlights of Union Budget 2019 presented by Nirmala Sitharaman

* From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars; We can very well reach 5 trillion dollars in the next few years. The Indian economy will grow to become a 3 trillion dollar economy this year itself.

* The plan to reach $5 trillion economy will involve development of heavy investment in infrastructure,...

Key points from Finance Minister's Budget speech

Jul 5: Departing from a British tradition passed on to India, Finance Minister Nirmala Sitharaman carried a 'bahi khata' (ledger) instead of a briefcase. While presenting her maiden Budget speech in Parliament, Sitharaman expressed confidence that India will become a $3-trillion economy in the current year. Here are the key takeaways from Nirmala Sitharaman's Budget speech, so far...

Economic Survey Quotes Hinduism, Islam, Christianity to Deter Tax Evasion

New Delhi, Jul 5: The Economic Survey, tabled in Parliament on Thursday, suggests invoking the doctrine of "pious obligation" as well as blend principles of behavioural economics with spiritual norm to tackle tax evasion and wilful defaults.

Bringing in a sense of novelty into the Economic Survey, that provides a detailed picture of the economy in 2018-19...

Sitharaman only the 2nd woman to present Union Budget

New Delhi, Jul 5: Finance Minister Nirmala Sitharaman on Friday became only the second women in the history of independent India to present the Union Budget.

Sitharaman, 59, presented the Modi 2.0 government's maiden budget in the Lok Sabha.

Prior to the presentation, the Union Cabinet headed by Prime Minister Narendra Modi approved the Budget for 2019-20....

'I don't pay heed to baseless things': TMC MP Nusrat Jahan on fatwa against her

Kolkata, Jul 5: Days after a fatwawas issued against her for wearing 'sindoor' in Parliament, Trinamool Congress MP and actor Nusrat Jahan on Thursday dubbed the dictate as baseless saying she is still a Muslim.

"I don't pay heed to things which are baseless. I know my religion. I have been a Muslim by birth and I...

Justice Rangnath Pandey, who wrote to PM on nepotism, denied customary farewell

New Delhi, Jul 4: Justice Rangnath Pandey, Allahabad High Court judge Rangnath Pandey who wrote a letter to Prime Minister Narendra Modi alleging 'favouritism, nepotism and casteism in the appointment of judges, was not given the customary farewell party when he retired on Thursday.

The farewell party, known as full court reference in the legal parlance, which was scheduled...

Banks see whopping 73% spike in frauds at Rs 71,543 cr in FY19

Mumbai, Jul 4: Banks have reported a massive 73 percent increase in incidents of fraud worth Rs 71,543 crore in FY19, a senior Reserve Bank official said Thursday.

Till March 2019, the top five, 10 and 100 cases of frauds cumulatively reported constituted 24 percent, 34 percent and 70 percent of all frauds, respectively, a chief general manager with...