The Government of India extends bank loans to Economically Weaker Section (EWS) under various Schemes. In terms of Reserve Bank of India (RBI) Guidelines on Priority Sector Lending (PSL), a target of 40 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposures (OBE), whichever is higher, as of preceding March 31st, has been … [Read more...] about GOI extends bank loans to EWS under various Schemes.
Economy
Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector.
Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector. The Union Finance Minister, Shri Arun Jaitley said that the Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector especially in case of Public Sector Banks (PSBs). The Finance Minister said that there are two … [Read more...] about Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector.
No signs of sharp turnaround in economy in FY17
'No signs of sharp turnaround in economy in FY17' Panaji, Mar 10 (PTI) Ratings agency Crisil has said that there are no signs of Indian economy sharply rebounding in the next financial year as the fiscal policy remains restrictive. "For economy, there is no sign of sharp turnaround in the coming fiscal. It needs support from accommodative monetary policy and less restrictive … [Read more...] about No signs of sharp turnaround in economy in FY17
GDP Accelerates to 7.6%; Budget 2016-17 Built on Agenda ‘Transform India’
GDP Accelerates to 7.6%; Budget 2016-17 Built on Agenda ‘Transform India’ While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that the growth of GDP has accelerated to 7.6% in the current Financial Year. This was possible notwithstanding the contraction of global exports by 4.4% compared to 7.7% growth in the world … [Read more...] about GDP Accelerates to 7.6%; Budget 2016-17 Built on Agenda ‘Transform India’
Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000
Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000 100% Deduction of Profits for 3 out of 5 Years for Start-Ups Withdrawal upto 40% of the Corpus to be Tax-Free at the time of Retirement Deduction of Additional Interest of Rs.50,000 Per Annum for First-Time Home buyers New Dispute Resolution Scheme to be Introduced Thirteen Cesses Levied by Various Ministries … [Read more...] about Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000
Key Reform Measures in Budget speech 2016-17
Union Finance Minister Shri Arun Jaitley spoke on the Key Reform Measures in his Budget speech 2016-17 1. The Government is firm on its course towards fiscal consolidation without compromising on its development agenda. 3.5% fiscal deficit is targeted for FY 2017. 2.Total allocation for Agriculture, Farmers’ welfare and Irrigation set at Rs. 47,912 cr, which is nearly twice … [Read more...] about Key Reform Measures in Budget speech 2016-17
Seventh Pay Commission: Modi Govt ready to implement ‘salary hike’ recommendations
Seventh Pay Commission: Modi Govt ready to implement 'salary hike' recommendations New Delhi, Feb 27: Giving the hint that Centre is all set to implement Seventh Pay Commission, Government said that 'salary hike' will have little impact on inflation. This was stated in the Economic Survey tabled in the Parliament on Sunday. Read more: 7th Pay Commission: Good News! 'Review … [Read more...] about Seventh Pay Commission: Modi Govt ready to implement ‘salary hike’ recommendations
Pre-Budget Economic Survey 2015-16
Economic Survey: India will remain world’s fastest growing major economy India is poised to slow down, the government signalled on Friday as its annual report card pegged GDP growth for 2016-17 at 7 to 7.75% — a downtick from the 7.6% estimated for this year. Despite the slowdown, the country will remain the world’s fastest growing major economy and a “haven of stability” in … [Read more...] about Pre-Budget Economic Survey 2015-16
Phased pension hike likely to meet fiscal deficit target
Phased pension hike likely to meet fiscal deficit target - Officials grappling with a combination of measures to provide spending buffer The challenging fiscal math for the upcoming year on account of higher expected outgo on salaries and pension has prompted the government to examine various permutations and combinations to check the feasibility of curtailing the deficit to … [Read more...] about Phased pension hike likely to meet fiscal deficit target