<ul><li><keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> ended 126.76 points or 0.22% higher at 57,653 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> gained 40.65 points or 0.24% at 16,985.</li><li>Analysts say that First Citizens BancShares’ plan to <a href="https://www.businessinsider.in/business/news/first-citizens-bank-reaches-deal-to-purchase-silicon-valley-bank/articleshow/99026908.cms">acquire the deposits and loans </a>of failed Silicon Valley Bank provided some relief to the market.</li><li>Grasim Industries, Reliance Industries, Cipla, Divi’s Laboratories and Maruti Suzuki were top five gainers on the 50-stock index.</li></ul>India’s benchmark indices Sensex and Nifty50 closed slightly higher led by gains in shares of pharma, PSU Bank and FMCG stocks. Sensex ended 126.76 points or 0.22% higher at 57,653 while Nifty50 gained 40.65 points or 0.24% at 16,985. Analysts say that First Citizens BancShares’ plan to <a href="https://www.businessinsider.in/business/news/first-citizens-bank-reaches-deal-to-purchase-silicon-valley-bank/articleshow/99026908.cms">acquire deposits and loans </a>of failed Silicon Valley Bank provided some relief to the market. “Nifty opened positive and remained steady for most part of the session as SVB’s resolution provided some relief to the market. Investors took comfort from news that First Citizens BancShares will acquire SVB's deposits and loans,” said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services. However, concerns regarding the global banking crisis will continue to scare investors till it is completely resolved. “Going ahead the concerns remain with regards to the global banking crisis which would keep the markets on edge. This week investors would watch out for US &amp; UK GDP data which could provide some cues with regards to Fed’s future course of action with regards to rate pause,” said Khemka. Grasim Industries, Reliance Industries, Cipla, Divi’s Laboratories and Maruti Suzuki were top five gainers on the 50-stock index. Gains in shares of heavyweights like RIL which was up 1.61%, Infosys up 0.55% and ITC up 0.34% supported the index. At home, India's state-run lenders will submit a detailed scenario-mapped plan of various risks to the government within two weeks, <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/public-sector-banks-to-submit-plan-to-deal-with-key-business-risks/articleshow/99020160.cm">as per reports</a>. This comes amid turmoil in the US and Europe as depositors are concerned over banks' health. Top stock movements under Nifty500 <div type="image" title="daily-profit-loss-33" msid="99038235" hostid="261"></div> “After a range-bound movement, the market ended mixed with marginal gains in large caps while mid and small caps had losses. Some certainty was seen in domestic banks and large caps due to ease in the US &amp; European market aided by reports on the acquisition of SVB by US lender First Citizens Bank. However, the investors continue to remain cautious as stress in the US and European financial systems makes their central banks actions complex,” said Vinod Nair, head of research at Geojit Financial Services. Earlier last week, Sensex and Nifty50 closed on a mixed note, with Sensex rising 0.31% while Nifty50 declined 0.07% amid a turmoil in the US and European banking sectors. Foreign institutional investors (FIIs) have sold equities worth ₹890 crore on Monday while domestic institutional investors (DIIs) have bought shares worth ₹1,808 crore, as per NSE data. Among sectoral indices, pharma index was the top gainer followed by FMCG and PSU Bank. <div type="image" title="png_20230327_171710_0000" msid="99038249" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/layoffs-coming-to-the-indian-it-sector-analysts-say-accentures-jobs-cuts-offers-a-blueprint/articleshow/98970175.cms">Layoffs coming to the Indian IT sector? Analysts say Accenture’s jobs cuts offers a ‘blueprint’</a> <a href="https://www.businessinsider.in/business/news/debt-schemes-of-mfs-lose-edge-over-bank-deposits-as-budget-proposes-to-scrap-ltcg-indexation-benefits/articleshow/98965932.cms">Debt schemes of MFs lose edge over bank deposits as Budget proposes to scrap LTCG &amp; indexation benefits</a>

Sensex, Nifty50 end slightly higher led by gains in RIL, Infosys, ITC

<img class="gwt-Image" src="/photo/49089249.cms" />Apart from purchasing Apache and Chinook helicopters from the US, the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Air+Force+%28IAF%29+">Indian Air Force (IAF)</a> is also going to extend its fully-automated air surveillance and defence network in the entire country. 
 The <keyword id="80629" type="ORGANIZATION" weightage="60" keywordseo="Cabinet-Committee-on-Security">Cabinet Committee on Security</keyword>, apart from the $3 billion purchase of choppers from the US, has also cleared an almost Rs 8,000 crore project for extension of the IAF's defence network. 
 
The aim is to ensure any intrusion by a hostile aircraft, <a href="http://www.businessinsider.in/searchresult.cms?query=helicopter%2C+drone+">helicopter, drone</a> or micro-light to be detected and tackled as soon as it takes place. 
 
According to a source, the composite air picture would be available in real-time at centralised locations and the national command post. 
 
The country will have better surveillance system with the help of integrating all airborne and ground-based civilian and <a href="http://www.businessinsider.in/searchresult.cms?query=military+radars">military radars</a>. 
 
The IAF has already set-up five nodes of the integrated air command and control system (IACCS) in the western sector facing <a href="http://www.businessinsider.in/searchresult.cms?query=Pakistan+">Pakistan</a> at Barnala (Punjab), Wadsar (Gujarat), Aya Nagar (Delhi), Jodhpur (Rajasthan) and Ambala (Haryana) with help from defence <keyword id="437887" type="ORGANIZATION" weightage="100" keywordseo="PSU-Bharat-Electronics">PSU Bharat Electronics</keyword>. 
 
There is now a plan to establish four new major nodes and 10 sub-nodes under Phase-II of the IACCS. While three nodes will be in eastern, central and southern India, the fourth is meant for the strategically-located Andaman and Nicobar Islands archipelago. 
 
Some of the new nodes will be located in underground complexes to improve survivability in face of enemy attacks, even as the entire IACCS infrastructure is also being upgraded with advanced early-warning, jam-resistant radars and the like. 
 
(Image: Indiatimes)

Rs 8000 cr for the Indian Air Force to get a better radar system to detect hostile aircraft, drone or even micro-light!

Lucknow, Feb 7 () US defence giant Lockheed Martin on Friday inked an agreement with the state-run Bharat Electronics Limited to explore opportunities in the F-21 fighter jet programme. Lockheed Martin has exclusively offered its F-21 military aircraft to India, with an eye to bag the Indian Air Force's USD 18 billion dollar deal to procure 114 jets. "Lockheed Martin signed a memorandum of understanding (MoU) with Defence PSU Bharat Electronics Limited (BEL) to explore industrial opportunities in the F-21 programme today at DefExpo 2020," the company said in a statement. Lockheed Martin said it is strengthening and growing its partnerships with the Indian industry to support the company's F-21 proposal for the IAF. "We are excited to begin exploring F-21 opportunities with BEL, one of India's leading aerospace and defence companies," said Dr Vivek Lall, Vice President of Strategy and Business Development, Lockheed Martin Aeronautics. He said if India goes for F-21, then it will be plugging into the world's largest fighter plane ecosystem. "An F-21 partnership with India integrates Indian industry, including BEL, into the world's largest and most successful fighter aircraft ecosystem and demonstrates Lockheed Martin's commitment to India," Lall said. In April last year, the IAF issued an RFI (Request for Information) or initial tender to acquire 114 jets at a cost of around USD 18 billion, which is billed as one of the world's biggest military procurement in recent years. The top contenders for the deal include Lockheed's F-21, Boeing's F/A-18, Dassault Aviation's Rafale, the Eurofighter Typhoon, Russian aircraft MiG 35 and Saab's Gripen. "We are happy to collaborate with Lockheed Martin which is a global major in the aerospace sector. We are eagerly looking forward to cash in on this co-operation to address domestic and international market needs in this sector," said Anandi Ramalingam, Director (Marketing), BEL. Lockheed Martin has projected F-21 as the ideal aircraft to address the IAF's capability needs and deliver unparalleled industrial opportunities in India. It said the single-engine F-jet will have the most optimal life cycle cost for the Indian Air Force, besides ensuring longest service life of 12,000 flight hours. "In concert with India's Rafale and Tejas, the F-21 will fill a critical operational role for the Indian Air Force," the company said. It said the F-21 programme will also provide unmatched opportunities for Indian companies of all sizes, including micro, small &amp; medium enterprises (MSMEs) and suppliers throughout India, to establish new business relationships with Lockheed Martin. MPB SMN

Lockheed Martin inks pact with BEL to explore opportunities in F-21 fighter jet programme

Bengaluru, Apr 9 () All India Institute of MedicalSciences (AIIMS)-Rishikesh, in collaboration with Navratnadefence PSU Bharat Electronics Limited (BEL), has developed astate-of-the-art health monitoring system to remotely assessthe health of COVID-19 suspects/patients quarantined in homesand hospitals."The solution aims to significantly reduce the risk ofexposure to healthcare workers. It is also expected to reducethe increasing demand of PPE and other logistics," a jointstatement said.Faced with the COVID-19 pandemic, the need to developa solution to remotely monitor patients for limiting exposureof healthcare workers was prime and urgent, it said.To address this need, AIIMS Rishikesh and BEL cametogether to provide a "comprehensive digital and clinicallyappropriate solution."Based on inputs given by AIIMS-Rishikesh, Bengaluru-headquartered BEL developed the Proof of Concept (PoC) modelof a system integrating non-invasive health monitoring sensorsto measure critical parameters such as temperature, pulserate, SPO2 (Saturated Oxygen level) and respiration rate.BEL, which has proven expertise in Network Centric andIoT systems, has also networked these sensors for remotelymonitoring the critical parameters, the statement said.A mobile app/web browser has been developed for peopleto get enrolled with AIIMS-Rishikesh once they show symptomsof COVID-19.AIIMS-Rishikesh will study patient complaints andbased on the assessment by clinical experts, a healthmonitoring kit will be handed over to the patient forperiodical monitoring of the critical parameters.Patient health parameters, along with patientlocation, are uploaded on a regular basis on to a centralisedCommand &amp; Control Centre (CCC) on Cloud using either thepatient's mobile phone or integral GSM SIM.The use of Cloud will facilitate seamless scaling ofthe database of COVID-19 suspects/patients.Software will give out alerts in the form of messagesto medical officers and health care workers when the healthparameters exceed the threshold.It will also record the severity of the patient'scondition in different colour codes.Data analytics software of the CCC will alsographically map the geo-distribution of COVID-19suspects/patients in the state.This would help the hospital administration invisualising the hotspots and taking necessary action toisolate and cordon off these areas to check the spread thevirus.Director &amp; CEO of AIIMS-Rishikesh, Prof Ravi Kant andChairman &amp; Managing Director, BEL, M V Gowtama havecongratulated the team led by Dr Mohit Tayal and Mr RajasekharM V, Chief Scientist (Central Research Laboratory-Bengaluru),BEL, for developing the solution, it was stated. RS SS

And now a remote health monitoring system to assess health of COVID-19 suspects/patients

New Delhi, Apr 18 () From increasing production of personal protection equipment (PPE) kits to manufacturing prototypes of ventilators, defence public sector undertakings and the ordnance factory board have ramped up efforts to fight the coronavirus pandemic in the country.These vital institutions of the Department of Defence Production (DDP) under the Ministry of Defence have channelised all their resources, technical knowhow and manpower to help the nation mitigate the deadly virus, officials said.Defence PSU Hindustan Aeronautics Limited (HAL), Bengaluru, has set up isolation ward facility with three beds in intensive care unit and 30 beds in wards, the defence ministry said in a statement. In addition, a building with 30 rooms has been readied. In all, the HAL facility can accommodate 93 people.HAL has manufactured and distributed 25 PPEs to doctors in various hospitals in Bengaluru that are authorised to treat COVID-19 patients. It has also manufactured 160 aerosol boxes which have been distributed to various government hospitals in Bengaluru, Mysore, Mumbai, Pune, Uttar Pradesh, Telangana, Andhra Pradesh and Tamil Nadu, the statement added.DPSUs and the Ordnance Factory Board (OFB) have assisted civilian administration in fight against COVID-19, the ministry said.Bharat Electronic Limited (BEL), another DPSU, has come forward on the directions of the health ministry to manufacture and supply 30,000 ventilators to ICUs in the country within two months. The design of these ventilators was originally developed by the Defence Research and Development Organisation and later improved by Skanray, Mysore, with whom BEL has collaborated, it said.BEL is likely to start manufacturing of ventilators between April 20-24. As per the tentative schedule, BEL is expected to manufacture 5,000 units in April, 10,000 in May and 15,000 in June. It is also making efforts to indigenise these components with the help of DRDO, the statement said. Bharat Dynamics Limited (BDL) is developing a prototype of ventilator which is likely to be tested and certified by the first week of May before it starts with manufacturing. It is working on this project with the help of a private start-up of Pune, the ministry said.Also, the Ordnance Factory Board, which heads 40 ordnance factories in the country, has started supply of coveralls conforming to ISO class 3 exposure standards. Manufacture of the initial order of 1.10 lakh from HLL Lifecare Limited (HLL) is in full swing and it will be completed in 40 days, it said.Ordnance Equipment Group of factories located at Kanpur, Shahjahanpur, Hazratpur (Firozabad) and Chennai are engaged in manufacturing coveralls. The present production rate is 800 per day and efforts are on to ramp up to a level of 1,500 per day, the statement said.For testing the efficacy of coveralls and masks, it has developed three machines which have been approved by South India Textile Research Association (SITRA) and are to be used in production to maintain the standards. The Ordnance Factory Board has also manufactured 5,870 PPEs which have been distributed to HLL, CMO, Firozabad, besides its own hospitals in ordnance factories, it added.The OFB has also developed special two-metre tents which can be used for medical emergency, screening, hospital triage and quarantine purposes. Ordinance factories are presently producing 7,500 litres of sanitisers against an order of 28,000 litres from HLL, the nodal agency appointed by the Government of India for centralised procurement. The OFB has so far manufactured 1,11,405 masks which include 38,520 three-ply medical masks. These have been distributed to Tamil Nadu Police, district civil and police authorities in Firozabad and Agra, the Cantonment Board Shahjahanpur, the Government of Uttarakhand, the district health officer Shahjahanpur, Military Intelligence, etc, it said. KND DPB

Defence PSUs, Ordinance Factory Board ramp up fight against COVID-19

<ul><li>New income tax slabs: 10% tax on income between ₹7.5 lakh without exemption compared to 20% right now.</li><li>15% tax on income between ₹7.5 lakh and ₹10 lakh without exemption compared to 20% right now.</li><li>20% tax on income between ₹10 lakh and ₹12.5 lakh without exemption compared to 30% right now.</li><li>25% tax on income between ₹12.5 lakh and ₹15 lakh without exemption compared to 30% right now.</li><li>Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms" data-type="tilCustomLink" target="_blank">Business Insider India live blog</a> on Budget 2020.</li></ul>Finance Nirmala Sitharaman presented her second annual budget speech. The top highlights from the budget 2020 proposals include the government's plan to sell stake in state-iowned insurance giant Life Insurance Corporation of India, sweeping changes in the income tax slabs, as well as the abolition of the dividend distribution tax at the end of the corporates. Aside from theses, startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years, according to the latest Finance Bill presented by Sitharaman. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Finance Minister Nirmala Sitharaman" msid="73828645" hostid="261" caption="&amp;lt;p&amp;gt;&amp;quot;As per tradition, Finance Minister Nirmala Sitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget,&amp;quot; the official handle of the President&amp;#39;s office tweeted today.&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>


































 Following are the key highlights of the budget speech: <ol><li>Only through higher growth, we can have our youth gainfully and meaningfully employed.</li><li>Fundamentals of the economy are strong, inflation has been contained, banks have been cleaning up the accumulated loans of the past decade. </li><li>An average household now saves about 4% of its monthly spends due to lower incidence of tax under the GST regime.</li><li>Welfare schemes with direct benefit transfer embedded in them, preventive healthcare via programmes like sanitation, healthcare via central schemes, housing scheme via Prime Minister Awas Yojana (PMAY) etc changed the established order of a few individuals cornering most of the benefits. </li><li>During 2014-19, Indian economy grew at an average of 7.4% with low inflation. India's foreign direct investment was $284 billion between 2014 an 2019 compared to $190 billion in the preceding five-year period.</li><li>India's government debt fell to 48.7% of GDP as of March 2019 compared to 52.3% as of March 2014.</li><li>Three themes of Budget 2020: 'Aspiring India', 'economic development', and 'to build a caring society'. </li><li>We shall aim for seamless delivery of services by leveraging technology. </li><li>6.11 crore farmers insured under Prime Minister Fasal Bima Yojana - a centrally-sponsored insurance scheme. Farm markets need to be liberalised.</li><li>16 action points: 1: Encourage state governments that will implement the following model laws that have already enacted by the centre. 2: Propose comprehensive measures for 100 water-stressed districts. 3: Expand outlay for solar pumps to 20 lakh farmers, another 15 lakh farmers to pumpsets to solar grid. Farmers if they have barren lands, they can set up solar power plants and sell it to the grid. 4: Balanced use of orgnaic and inorganic fertilisers. 5: Provide viability gap funding for setting up warehouses. Food Corporation of India can set up warehousing on their land too. 6: Push to reduce storage costs for farmers. 7: Promotion of women self-help groups. 8: To launch refrigerated trains to transport food items from the farm to other parts of the country. 9: Horticulture exceeds the production of foodgrains. 'One product for one district' to promote focussed development of horticulture. 10: Integrated farming system in rain-fed areas. Multiple crops, bee-keeping solar pumps in rain deficient area. 11: Financing on negotiable warehousing receipts will be linked to e-NAM. 12: The NABARD refinance scheme will expanded. The agriculture credit target for FY21 will be expanded to ₹15 lakh crore from ₹12 lakh crore. 13. To eliminate foot and mouth disease by 2025. To double milk production to 108 million metric tonnes by 2025. 14. Blue economy - development management of marine resources. Target ₹1 lakh crore in fish exports by 2025. 15. By FY23, propose raising fish production to 200 lakh tonnes, will also promote algae, seaweed.</li><li>16. Under Deendayal Antyodaya Yojana, self help groups will be expanded beyond the current 58 lakh.</li><li>Allocation for agriculture: ₹2.83 lakh crore, this includes ₹</li><li>Mission Indradhanush has been expanded to include 12 new diseases and 5 new vaccines. A very focussed water and sanitation programme to reduce the burden of diseases on the poor. There are 20,000 hospitals empanelled under the PMJAY, this has to rise. Propose to set up hospitals under the private-public partnership, the 112 districts identified as 'aspirational' will get priority in the setting up of new hospitals. </li><li>Proceeds from taxes on medical devices will be used to support the programme to build the infrastructure.</li><li>Reiterate India's commitment to eradicate tuberculosis by 2025. </li><li>Allocation for health: ₹69,000 crore including ₹6,400 crore for PMJAY.</li><li>By 2030, India is set to have the world's largest working-age population. They need education, skills, and employment opportunities. Our education system needs more money to attract better teachers and to set up better labs. Open the education sector to external commercial borrowing. </li><li>In order to provide quality education to the under privileged, a full-fledged online courses will be launched from the top 100 institutions in India.</li><li>Under 'Study In India' programme, a new INSAT exam to be launched for foreign students to enroll into Indian universities. </li><li>Every medical college will be linked to a nearby hospitals under the public-private partnership mode.</li><li>Total outlay for education sector: ₹99,300 crore and another ₹3,000 crore for skill development.</li><li>150 top education institutes to start offering apprenticeship programmes.</li><li>Propose to set up an investment clearance cell for end-to-end services including information on land bank and facilitating the approval process etc. </li><li>It is proposed to develop 5 new smart cities in collaboration with state governments in PPP mode. </li><li>Electronics manufacturing industry is cost competitive and India has shown its potential. To attract large investments in electronic manufacturing -- including electronic equipment, smartphones -- a new policy will be announced soon.</li><li>A National Textile Mission to work for next four fiscal years with an estimated outlay of ₹1,480 crore.</li><li>A new scheme Nirvik, for higher insurance cover, reduction in premium for small exporters, and simplified claim process, including digital refund process to help exporters.</li><li>Every district must become a hub for exports.</li><li>Unified procurement scheme: Propose ₹27,300 crore for development of industry and commerce in FY21.</li><li>National Infrastructure Pipeline will bring in generic and sectoral reforms in construction and maintenance of the infrastructure. Propose a project preparation facility that will employ economist, management graduates to execute projects.</li><li>A National Logistics Policy will soon be released to clarify the roles of Central government, state governments, and the regulators.</li><li>The Delhi-Mumbai Expressway and two other projects will be completed by FY23. The Chennai-Bengaluru expressway project will also started by then.</li><li>Government will monetise 12 NHAI highway projects.</li><li>Setting up a large solar power capacity alongside the rail tracks on the land owned by the railways, is a proposal under consideration.</li><li>150 trains under the PPP mode. More Tejas type trains will connect iconic tourist destinations. </li><li>Central government will give 20% of the funds needed for a suburaban rail transport system in Bengaluru.</li><li>100 more airports will be set up in the next five years.</li><li>₹1.7 lakh crore allocated for transport infrastructure.</li><li>Propose to replace traditional meters with digital meters in the next three years. This will allow consumers to port out of a service provider (selling power) just like they port out of mobile service provider.</li><li>Fibre to home connections through Bharat Net will connect 1 lakh villages this year itself. Propose to provide ₹6,000 crore for Bharat Net programme.</li><li>Quantum technology: An outlay of ₹8,000 crore over the next five years.</li><li>₹22,000 crore allocated for the power sector including renewble energy sector.</li><li>No manual cleaning of sewers will be allowed, new technology will be roped. Centre in conversation with civic bodies.</li><li>Provision of ₹85,000 crore for scheduled castes and other backward classes.</li><li>Provision of ₹53,700 crore for scheduled tribes in the country.</li><li>5 archaeological sites would be developed as iconic sites with on-site museum -- Rakhigarhi (Haryana), Hastinapur (UP), Dholavera (Gujarat), Shivsagar (Assam), and Aditya Nallur (Tamil Nadu).</li><li>Propose ₹35,500 crore for nutrition-related schemes.</li><li>Allocation for Ministry of Culture: ₹3,500 crore. </li><li>Propose ₹2,500 crore to promote tourism.</li><li>Propose ₹9,500 crore for senior citizens and specially abled.</li><li>Proposed total allocation for women-centric programmes ₹28,600 crore.</li><li>Propose ₹4,400 crore allocation for clean air. </li><li>Companies Act will be amended to abolish 'criminal liability' for 'civil offences'.</li><li>A National Recruitment Agency will be set up. It will conduct a common entrance test for non-gazetted positions in the government and public-sector enterprises. </li><li>Propose a new national policy on national statistics will push for use of AI to collect data real time.</li><li>India will host G20 Presidency in 2022; the government proposes to allocate ₹100 crore to start the preparations.</li><li>Governance reforms proposed for PSU banks: Robust mechanism is in place to monitor the health of all banks and the money of depositors are safe. Insurance of bank deposits raised to ₹5 lakh from ₹eposit insurance and credit guarantee scheme.</li><li>Government will sell its remaining stake in IDBI Bank to private investors. Stock jumps over 13%</li><li>MSME entrepreneurs can avail 'subordinate debt' from banks and the loan will be fully guaranteed by a Trust. This will be treated as quasi-equity stake.</li><li>Government has asked RBI to extend deadline for MSME debt restructuring by one more year. </li><li>FY20 fiscal deficit seen at 3.8% of GDP and at 3.5% in FY21.</li><li>Non-resident Indians will be allowed to invest in certain categories of government bonds.</li><li>Currently, foreign portfolio investors are allowed to buy a maximum of 9% of the outstanding corporate bonds. Finance Minister proposes to increase the threshold significantly to 15%.</li><li>An international bullion exchange will be set up in GIFT City in Gandhinagar, Gujarat.</li><li>Government to sell stake in LIC. </li><li>Receipts for FY21 estimated at ₹22.46 lakh crore, estimate expenditure: ₹</li><li>Borrowing plan for FY21: ₹5.36 lakh crore, capital expenditure will rise over 22%.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free.</li><li>Startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years.</li><li>Small retailers with revenue up to ₹5 crore need not get their books audited by accountants.</li><li>New scheme to end tax disputes: If someone agrees to pay the disputed tax amount by March 2020, there will be no interest and penalty. There are 4,83,000 tax disputes pending at various forums.</li><li>FY21 disinvestment target ₹2.1 lakh crore, doubled from the ₹1.05 lakh crore target in FY20.</li><li>Propose a cash incentive for customers demanding invoice, to boost compliance with GST</li><li>Imported footwear, furniture, and medical equipments will get more expensive as customs duty will be increased.</li></ol> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a> <a href="https://www.businessinsider.in/budget/news/indian-taxpayers-expectation-from-the-budget-2020/articleshow/73804969.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms" data-type="tilCustomLink" target="_blank"></a>

Income tax cuts, stake sale in LIC and other highlights from Finance Minister Nirmala Sitharaman's budget speech

<img class="gwt-Image" src="/photo/48345049.cms" style="width: 800px; height: 600px;" /> The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> snapped a 4-day winning streak to end marginally lower on Tuesday as traders booked profit in frontline even as the bid up mid cap counters and pushed PSU banking stocks further up. 

	Meanwhile, the Nifty ended 17 points lower to close at 8,544. Its Advance-Decline Ratio stood at 27:23 with Idea Cellular, Cairn India and Hero Motor being the top losers. Tata Steel, Bank of Baroda and Hindalco made up Nifty's top gainers list. State Bank of India was the most active counter on the Nifty, trading 2.88 crore shares.
 

	While the frontline index was muted, traders shifted their attention to the middle rung counters. As a consequence, strong gains were seen on the CNX Nifty Junior, CNX Small Cap Index and the CNX Midcap Index respectively.
 The <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> rose 57 points to 18,972 and its public sector counterpart the CNX PSU Index surged 3 percent to 3,650 points as traders just couldn't get enough of such lenders. The trend in other sectoral indices was equally strong. CNX Auto and CNX Metal Indices too posted smart gains while modest dips were seen on CNX Finance and CNX Media Indices. On the <keyword id="43628" type="CITY" weightage="100" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword>, the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> fell 115 points to close the day at 28,072 points. ONGC, Wipro and Tata Motors were stocks that ended below their Monday's close, while Mahindra and Mahindra, Coal India and Hindalco were among the gainers list. As a consequence, the Advance-Decline Ratio on the Sensex stood at 12/18. 

	The trend in the wider market favoured the bulls with 1,627 stocks rising versus 1,264 fell.
 

	Overall trade was bearish in the derivatives space with Nifty Futures ending with modest losses. But Banking, Fertiliser, Metals and Textiles were the major gainers among 18 industries in both price and open interest. The Advance-Decline Ratio was a modest 89/72 in the futures and Options market.
 

	Earnings from Britannia, Capital First and Nilkamal lit up the markets whereas those from Jay Shree Tea Industries disappointed investors.
 

	Stocks that hit fresh 52 week highs were Amara Raja Batteries, Century Enka and Bharat Electronics.

	 
	 
	(Image credits: Indiatimes)

Nifty snapped a 4-day winning streak to end marginally lower

<img class="gwt-Image" src="/photo/48910343.cms" style="width: 800px; height: 600px;" /> 
The Nifty and the Sensex gained for the third day on Friday as continuing short covering and value buying in beaten down stocks pushed stocks higher on Dalal Street. Banks were in demand and the CNX PSU Banking index was the top gaining benchmark as traders latched on to futures which were thrashed beyond recognition several days ago. Here is a snapshot of what is happening in the market, with a special focus on the futures and options space: 
 
BENCHMARKS: 
Nifty rose 38 points to 7,826 points 
Bank Nifty added 28 points to 16,658 
CNX IT rose 78 points to 11,506 points 
 
TOP PRICE GAINERS 
Wockhardt 
Ceat 
JSW Energy 
Apollo Hospitals 
 
TOP PRICE LOSERS 
Sun TV 
UPL Ltd 
Petronet LNG 
Century Textiles 
 
TOP OI GAINERS 
Bharat Electronics 
Ceat 
Amtek Auto 
SRF 
 
TOP OI LOSERS 
Century Text 
Allahabad Bank 
Andhra Bank 
Sun TV 
 
TOP TRADED FUTURES 
Tata Motors 
State Bank of India 
Larsen &amp; Toubro 
ICICI Bank 
 
TOP TRADED CALLS 
SBI 240 Sep 
Reliance 900 Sep 
Reliance 880 Sep 
Tata Motors 360 Sep 
 
TOP TRADED PUTS 
SBI 230 Sep 
Reliance 860 Sep 
Reliance 840 Sep 
 
TOP GAINING SECTORS 
Textiles, 
Finance 
Banking 
Automobiles 
 
TOP LOSING SECTORS 
Infrastructure 
Capital Goods 
Real Estate 
Media 
 
(Image credits: Indiatimes)

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