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<ul><li>India's real GDP grew at around 8.2% in real terms in Fy24: Economic Survey </li><li>Retail inflation dipped to 5.4% in FY24, notes Economic Survey</li><li>Unemployment dipped to 3.2% in FY24</li></ul><keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> is set to present the union budget on 23rd July, at 11 am. The budget session is scheduled to last between 22nd July and 12th August. This will be <keyword id="19956941" type="General" weightage="20" keywordseo="FM-Sitharaman" source="keywords">FM Sitharaman</keyword>'s seventh consecutive budget presentation under the third term of <keyword id="20205025" type="General" weightage="20" keywordseo="Bhartiya-Janata-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Bhartiya Janata Party" meta.hostid="261" meta.entityid="Bhartiya Janata Party">Bhartiya Janata Party</keyword> (BJP). All budget-related documents will be available at indiabudget.gov.in. You can watch the presentation live on Doordarshan, Sansad TV, and also on various official government YouTube channels. With this budget, Sitharaman will only precede former PM <keyword id="20342248" type="General" weightage="20" keywordseo="Morarji-Desai" source="keywords">Morarji Desai</keyword>, who has presented the highest number of budget (10) till date, followed by <keyword id="22330828" type="General" weightage="20" keywordseo="P-Chidambaram" source="keywords">P. Chidambaram</keyword> with 9 budgets, and Pranab Mukherjee, who has 8 budgets to his credit. In her recent address in parliament, Sitharaman noted that significant social and economic decisions will be a highlight of this budget. Notably, she concluded <keyword id="901788" type="General" weightage="20" keywordseo="pre-budget-consultations" source="Orion">pre-budget consultations</keyword>, which began on June 19th, on July 5th, where she met 20 invitees across 10 groups, including representatives from agriculture, skill development, finance and banking, energy, <keyword id="17408" type="General" weightage="20" keywordseo="Infrastructure" source="Orion">infrastructure</keyword> sector and more. <h2>Key expectations from Budget 2024</h2>Experts note that this budget will mainly focus on improving consumption, and boosting <keyword id="174143" type="General" weightage="20" keywordseo="infrastructure-development" source="Orion">infrastructure development</keyword>. Per reports, the government is also mulling raising the threshold of standard deduction under income tax regimes from the present Rs 50,000 to Rs 1 lakh. Additionally, to boost healthcare accessibility for the underserved in the country, the government is also contemplating to double the annual coverage offered under the <keyword id="20097876" type="General" weightage="20" keywordseo="Ayushman-Bharat-health-insurance-scheme" source="keywords">Ayushman Bharat health insurance scheme</keyword> from the present Rs 5 lakh to Rs 10 lakh over the next 3 years, along with also covering individuals aged over 70. Mr. Tashwinder Singh, CEO &amp; MD, Niyogin Fintech Limited, which offers credit to MSMEs, noted that upcoming regulatory changes should focus on simplifying compliance, taxation policies that encourage entrepreneurship, and incentivise innovations that drive R&amp;D investments. "We hope that the government takes measures to support the lending industry through access to capital and affordable interest rates, enabling entrepreneurs to realize their vision. Furthermore, we look forward to relaxed norms for NBFCs, allowing them to contribute more substantially to the economy. These measures will collectively propel India's economic growth, boost job creation, and position the Indian fintech industry as a strong contender in innovation and entrepreneurship", he continues. As for bolstering green infrastructure and clean energy production, Ms Aditi Balbir, Co-founder, EcoRatings notes that the 2024 union budget should prioritize investments in sustainable infrastructure projects and clean energy solutions, as 70% of greenhouse gas emissions stem from energy, industry, and buildings. "This will create a future-proof foundation for economic growth and help in achieving net-zero targets. Infrastructure is crucial in addressing climate change and meeting diverse societal needs. A transformative overhaul of our current and future infrastructure assets is essential. The budget should introduce financial incentives, such as lower interest rates on loans and dedicated grants, for companies committed to ESG compliance. This will create a clear link between sustainability efforts and economic benefits", she continued. <h2>Focus on Agri-credit, Real Estate in Budget 2024</h2>The government could also raise the target for agricultural loans disbursed during the year by up to 25%, setting the target at Rs 25 lakh crore. The government will also have to revamp the MSP (minimum support price) system in this space, focusing on challenges such as narrow coverage, dipping export competitiveness, discouraging private investment in this space and more. Another area that demands significant attention is real estate. Shubhi Jain, Principal Partner &amp; Head of CRM, Square Yards anticipates significant reforms in the upcoming budget under the new government. Securing industry status will unlock a plethora of legal and administrative benefits, along with much-needed tax incentives. "Also, while government’s focus on affordable housing under PMAY is commendable, recalibrating strategies in light of escalating construction costs is imperative for sustained inclusiveness and effectiveness. Moreover, enhanced tax reliefs and increased deductions on home loans, currently capped at INR 2 lakhs, are pivotal in stimulating demand and supporting prospective buyers", she says. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Assistance for Nalanda's development as a tourist center" mstype="2" mssubtype="0"></div><h2>Short-term outlook positive, notes Economic Survey </h2>FM Sitharaman presented the Economic Survey 2023-24 in the parliament today, ahead of the budget. The survey noted that the Indian economy had managed to recover and expand in an orderly fashion post the pandemic, with the real GDP growing by 8.2% in FY24. Going ahead, prospects for continued strong growth in FY25 remain robust. India also managed to bring down its current account deficit (0.7% of GDP in FY24), while projecting a 7%+ growth rate in the medium term. On the employment front, the survey noted that AI might moderate India's services export growth by as much as 0.3 to 0.4 percentage points annually over the course of the next decade. As such, greater emphasis and focus is needed on areas like blockchain, artificial intelligence (AI), machine learning, Internet of Things, cybersecurity, cloud computing, big data analytics, augmented reality, virtual reality, 3D printing, and web and mobile development. The Indian labour market indicators have significantly improved over the past 6 years, with unemployment rates dipping to 3.2% in 2022-23. However, even as net payroll additions to EPFO have doubled over the last 5 years, signaling a healthy formal employment market, job creation and increasing women participation in workforce remain key areas of concern. For all updates and latest information related to the budget, don't forget to follow <a href="https://www.businessinsider.in/budget" data-type="tilCustomLink" target="_blank">Budget Insider</a>! SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024 Live Updates: FM Sitharaman announces internships for 10 million youth in 500 top companies</a> <a href="https://www.businessinsider.in/budget/news/loan-limit-under-mudra-scheme-to-be-doubled-to-20-lakh-sitharaman/articleshow/111950024.cms" data-type="tilCustomLink" target="_blank">Loan limit under MUDRA scheme to be doubled to ₹20 lakh: Sitharaman</a>

Union Budget 2024: When will it be presented, what time, where to watch and what are various sectors expecting?

About 6 crore <keyword id="19948101" type="General" weightage="100" keywordseo="income-tax-returns" source="keywords">income tax returns</keyword> have been filed for income earned in 2023-24, of which 70 per cent were filed under the new <keyword id="22442211" type="General" weightage="20" keywordseo="simplified-tax-regime" source="keywords">simplified tax regime</keyword> which offers lower rate of tax, Revenue Secretary Sanjay Malhotra said on Tuesday. Addressing the post-budget session of PHD Chamber of Commerce and Industry, Malhotra said there were apprehensions as to whether people would shift to the simplified tax regime. "About 6 crore filed for last year and 70 per cent is under the new income tax regime. The whole move has been towards simplicity with the ultimate purpose being to reduce the <keyword id="20380188" type="General" weightage="20" keywordseo="compliance-burden" source="keywords">compliance burden</keyword>," Malhotra said. For the 2022-23 fiscal, 8.61 crore ITRs were filed. The idea behind comprehensive income tax review as announced in the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">Budget</keyword> is to make the tax law simpler. "We will come up with a draft and then we will seek suggestions," Malhotra said. Currently, India has two <keyword id="20155151" type="General" weightage="20" keywordseo="personal-income-tax" source="keywords">personal income tax</keyword> regimes. In the old income tax regime, the <keyword id="20452955" type="General" weightage="20" keywordseo="tax-rates" source="keywords">tax rates</keyword> are relatively high but taxpayers can claim several exemptions and <keyword id="20385232" type="General" weightage="20" keywordseo="deductions" source="keywords">deductions</keyword>. However, in the <keyword id="19935168" type="General" weightage="20" keywordseo="new-tax-regime" source="keywords">new tax regime</keyword>, tax rates are lower but fewer deductions.

About 6 cr ITRs filed for FY24; 70% under new tax regime

No draft of the <keyword id="15735615" type="General" weightage="20" keywordseo="Digital-India-Bill" source="Orion">Digital India Bill</keyword> has been published for public feedback or comments and no notice of the same was given in respect of the bill for its introduction in the <keyword id="61449" type="General" weightage="20" keywordseo="Winter-Session" source="Orion">Winter Session</keyword> 2022-23, the Parliament was told on Friday. "The policies of the Government are aimed at ensuring an open, safe and trusted, and accountable internet for its users. To help achieve this aim, the Ministry of Electronics and Information Technology engages with and receives inputs from the public and stakeholders, including in respect of changes required to existing legislation and the need to introduce fresh legislation. Such engagement includes all aspects of law, including regulation of digital representation of users on various online platforms, Minister of State, Electronics and IT, Rajeev Chandrashekhar, told the Rajya Sabha in a written reply. Once the legislative proposal is formulated, in accordance with the government's policy on pre-legislative consultation, proposed legislation is published in the public domain and feedback/comments invited from the public before submitting a legislative proposal to the Cabinet, he said. Thereafter, in accordance with the procedure detailed in the Manual of Parliamentary Procedures as published by the Ministry of Parliamentary Affairs, the Ministry of Law and Justice is consulted on the same and, after approval of the Cabinet, notice of the motion for introduction of a Bill is given to the Secretariat of relevant House of Parliament, he added. "The said procedure for introduction of a Bill in Parliament and pre-legislative consultation policy for public feedback/comments is observed in respect of all legislative proposals of the government. No draft has been published of the Digital India Bill for public feedback/comments and no notice of the same was given in respect of the Digital India Bill for its introduction in the Winter Session, 2022-23," the Minister said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

No draft of Digital India Bill published for public feedback or comments

<ul><li>Before presenting the <keyword id="6360189" type="General" weightage="20" keywordseo="union-budget" source="Orion">Union Budget</keyword> in the parliament, the Indian government releases the annual <keyword id="6354872" type="General" weightage="100" keywordseo="economic-survey" source="Orion">Economic Survey</keyword>.</li><li>The Economic Survey throws light on the trends in different sectors and tracks the state of the country’s economic performance in the past one year.</li><li>The Chief Economic Advisor authors the Economic Survey in India and is later approved by the Union Finance Minister.</li></ul>In India, the Economic Survey prepares the background framework for the Union Budget. It facilitates a bird’s eye view of the trends noticed in different sectors over the previous year like agriculture, manufacturing, employment, infrastructure, prices, exports, imports, foreign exchange reserve, and money supply for example. <cmsannotation type="cmsannotation" annotationid="Economic Survey’s objectives" comment="subhead" text="Economic Survey’s objectives">Economic Survey’s objectives</cmsannotation> The various objectives of the Economic Survey in India can be summed up under three heads: <ul><li>Reviewing the country’s economic development over the past 12 months.</li><li>Summarising how the different development projects of the country perform.</li><li>Highlighting the government’s policy initiatives.</li></ul><cmsannotation type="cmsannotation" annotationid="The format of the Economic Survey" comment="subhead" text="The format of the Economic Survey">The format of the Economic Survey</cmsannotation> After Arvind Subramanian took charge as the Chief Economic Advisor (CEA) of the country, the Economic Survey became a two-volume report and his successor KV Subramanian continued the same trend. The first volume generally has chapters on the future course of the economy. Therefore, the first volume provides a scope for the CEAs to narrate their views. The second volume lists the country’s economic developments over the past year. The principal focus of the second volume is to explain the immediate economic issues faced by the different sectors with the help of statistical data. It throws light on the major challenges anticipated along with the solutions presumed. <cmsannotation type="cmsannotation" annotationid="Trends and practices" comment="subhead" text="Trends and practices">Trends and practices</cmsannotation> The first economic survey was released in the financial year (FY) 1950-51. In the next 14 years that followed, it was presented along with the Union Budget. Starting from 1964, it preceded the budget and was released a day before the budget session in the parliament. As per some reports, the 2021-22 Economic Survey might get back to its one-volume format after eight consecutive years. Most probably, this year’s Economic Report might contain the key data for the FY across different industry segments while leaving out the policy prescriptions that are usually a part of the main volume. <cmsannotation type="cmsannotation" annotationid="Why is the Economic Survey Important?" comment="subhead" text="Why is the Economic Survey Important?">Why is the Economic Survey Important?</cmsannotation> The Economic Survey is one of the most critical documents in the country’s administration. It gains utmost importance in financial planning as it contains insights on the country’s economic health. It talks about the different economic factors that might impact the budget. This is an invaluable document in highlighting the key concerns about the economy. The Economic Survey also reviews resource allocation in the budget. <cmsannotation type="cmsannotation" annotationid="Is releasing the Economic Survey mandatory for the government?" comment="subhead" text="Is releasing the Economic Survey mandatory for the government?">Is releasing the Economic Survey mandatory for the government?</cmsannotation> The Indian Constitution neither binds the government to present the Economic Survey nor is the government obliged to go with its recommendations. It is completely left to the government to decide if it will adopt or reject the suggestions made in the Economic Survey. We can say the Economic Survey is a kind of report card of the country’s economy and it also serves as the vehicle to promote economic reforms. <cmsannotation type="cmsannotation" annotationid="Where can we access the Economic Survey?" comment="subhead" text="Where can we access the Economic Survey?">Where can we access the Economic Survey?</cmsannotation> The document of the Economic Survey is made available to the public in PDF format on the exclusive website for the Union Budget <a href="https://www.indiabudget.gov.in/">https://www.indiabudget.gov.in/</a> or on the <keyword id="47209" type="General" weightage="20" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword>’s website <a href="https://finmin.nic.in/">https://finmin.nic.in/</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/with-covid-expenses-rising-taxpayers-need-more-than-an-insurance-rebate-says-a-wealth-manager/articleshow/89199947.cms">With COVID expenses rising, taxpayers need more than an insurance rebate, says a wealth manager ⁠</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-expectation-why-india-needs-an-urban-mgnrega/articleshow/89199969.cms">Budget 2022 expectation: Why India needs an urban MGNREGA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/heres-why-there-is-less-adoption-of-the-new-tax-regime-and-how-budget-2022-can-make-it-more-attractive/articleshow/89195776.cms">Here’s why there is less adoption of the new tax regime and how budget 2022 can make it more attractive</a>

EXPLAINED: India’s annual Economic Survey

As expected and in relief for the citizens, the central government neither tweaked nor put any additional tax burden on citizens, in the interim Budget for 2024-25 tabled by Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>. "Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties," Sitharaman said in her Budget speech on Thursday. However, certain tax benefits to start-ups and investments made by sovereign wealth or pension funds as well as tax exemption on certain income of some IFSC units are expiring in March 2024. To provide continuity in taxation, she proposed to extend the date by another year. Moreover, in line with the government's vision to improve ease of living and ease of doing business, she announced to improve tax-payer services. "There are a large number of petty, non-verified, non-reconciled or disputed direct tax demands, many of them dating as far back as the year 1962, which continue to remain on the books, causing anxiety to honest tax-payers and hindering refunds of subsequent years," she said. She proposed to withdraw such outstanding direct tax demands up to Rs 25,000 for the period up to financial year 2009-10 and up to Rs 10,000 for financial years 2010-11 to 2014-15. "This is expected to benefit about a crore tax-payers," she added. Presenting the Union Budget 2023, Sitharaman on Thursday pegged the fiscal deficit target for 2024-25 at 5.1% of gross domestic product (GDP). In 2023-24, the government pegged the fiscal deficit target for 2023-24 at 5.9% of gross domestic product (GDP). Today, Sitharaman said that the fiscal deficit of 2023-24 was downwardly revised to 5.8%. The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings that may be needed by the government. The government intends to bring the fiscal deficit below 4.5% of GDP by the financial year 2025-26. The government intends to bring the fiscal deficit below 4.5% of GDP by the financial year 2025-26. A capital expenditure, or capex, is used to set up long-term physical or fixed assets. Last year, which was the last full Budget under the Prime Minister Narendra Modi-led government's second term, the government proposed to increase capital expenditure outlay by 33% to Rs 10 lakh crore in 2023-24, which was estimated to be 3.3% of the GDP. With the substantial increase in capex, it is central to the government's efforts to enhance growth potential and job creation, crowd in private investments and provide a cushion against global headwinds. The interim budget, tabled today, will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls after which a full budget will be presented by the new government in July. With this Budget Presentation, Sitharaman equalled the record set by former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964. The Budget Session of Parliament commenced on Wednesday with President Droupadi Murmu addressing a joint sitting of Lok Sabha and Rajya Sabha. The Indian economy is projected to grow close to 7% in the financial year 2024-25 which starts this April, said the Ministry of Finance in a review report. India's economy grew 7.2% in 2022-23 and 8.7% in 2021-22. The Indian economy is expected to grow 7.3% in the current financial year 2023-24, remaining the fastest-growing major economy.

FM Nirmala Sithraman keeps tax slabs unchanged

<ul><li>More than a day has passed since the New York Times report saying the Indian government bought the spyware from Israel and there is very little in terms of response from the government. </li><li>It shows that either the government doesn’t take lying as a serious charge or it has little material to defend itself and neither of the two is a good show on an elected government in a democracy. </li><li>Check out more stories from the <a href="https://www.businessinsider.in/bi-newsletter">Simply Put series</a>, Business Insider’s uniquely simple explainers on the hottest news topics every week and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> for the weekly newsletter if you like.</li></ul>At first, about six months ago, the question was whether the spyware was used by the Narendra Modi government to trace and track the dissenters. Now, after the New York Times investigation, the first question to be answered is whether Modi's ministers lied to the Parliament. And, the government’s silence on the New York Times charge that it bought Pegasus spyware is eerie. The Prime Minister gave his frequent radio address, called the Mann ki Baat, on January 30, but there was no mention of the Pegasus issue. The opposition is likely to launch a high decibel protest, demanding a response from the Modi government in the Parliament when it opens for <a href="https://businessinsider.in/budget">the Budget session this week</a>. A minister of the Modi government, Ashwini Vaishnaw, had denied the snooping charge in Parliament saying India was not one of the buyers of the Pegasus spyware. The Ministry of Defence backed it up saying it didn’t do any transaction with the NSO Group that sells Pegasus. The government lawyer maintained a similar stance at the Supreme Court of India as well, but the court did not find it convincing. These were some of the court’s observations after the government’s response to the charge that it used national security as an excuse to illegally monitor its detractors: <ul><li>There has been no specific denial by the Centre. Thus, we have no option but to accept the submissions of the petitioner and appoint an expert committee whose function will be overseen by the Supreme Court.</li><li>There is no clear stand from the government. There is a serious concern of foreign agency involvement by surveilling Indians.</li><li>The Solicitor General had suggested that many such reports are motivated. However, such omnibus oral submissions cannot be accepted.</li></ul> Given the Modi administration’s response in the preceding months, the implication of the latest New York Times report is that the Modi administration lied both to the Parliament and the Supreme Court. It’s a charge similar to the Watergate scandal in the United States that toppled the Richard Nixon administration in the early 1970s. Even Subramanian Swamy, a member of Parliament from Modi’s own party, the Bharatiya Janata Party (BJP), has raised a similar question. <div type="twitter" handle="Swamy39" handlename="Subramanian Swamy" image="http://pbs.twimg.com/profile_images/1326823978174910465/lBQbS0ZX_normal.jpg" favoritecount="15368" retweetcount="4437" status="Modi government must rebut New York Times revelations today that It did indeed subscribe by payment from tax payers… https://t.co/gBWw1J1jfV" createdat="1643424463000" id="1487256113187721217"></div> The New York Times report has alleged that the Indian government under Modi did buy the spyware from Israel as part of a $2 billion purchase of defence equipment. The report also connected this purchase with India supporting Israel at a United Nations (UN) forum ⁠— <a href="https://www.moneycontrol.com/news/politics/israel-palestine-conflict-here-is-how-india-has-voted-in-un-over-the-years-6956341.html">a shift from its long-standing support for the Palestinian cause</a> ⁠— to deny a Palestinian human rights organisation an ‘observer status’. More than a day has passed since the latest report and there is very little in terms of response from the government or the Prime Minister. So far, there is a tweet from a junior minister for civil aviation and road transport and highways, General VK Singh, who has called the New York Times ‘supari media’. Taking a Supari ⁠— the Hindi word for betel nut ⁠— is a colloquially used to describe a hit job. Syed Akbaruuddin, India’s former permanent representative to the UN, <a href="https://www.ndtv.com/india-news/utter-rubbish-ex-diplomat-syed-akbaruddin-on-nyt-pegasus-report-citing-indias-un-vote-2736819">has ‘rubbished’ the link</a> with India’s stance in support of Israel against Palestinians. Other than these, there isn’t another official word on the matter so far. Considering the seriousness of the charge, it would be fair to expect that the Prime Minister would have defended the government in his Mann ki baat address to the voters today. But he didn't. <div type="Youtube" id="WdprihSHmmQ" title="PM Modi's Mann Ki Baat with the Nation, January 2022" thumbUrl="https://i.ytimg.com/vi/WdprihSHmmQ/mqdefault.jpg"></div> There are two ways to look at it. Either team Modi doesn’t take the charge of ‘lying to Parliament’ seriously. It’s not a good show on an elected government in a democracy that it doesn’t take offence to being called a liar, especially in the Parliament. Or, it doesn’t have enough material to defend itself. An expert committee appointed by the Supreme Court, led by a former judge RV Raveendran, is already <a href="https://www.businessinsider.in/india/news/supreme-court-of-india-verdict-on-pegasus-spying-case-appoints-a-retired-judge-committee-for-probe/articleshow/87299281.cms">looking into the snooping charges</a>. If the three-member panel arrives at a conclusion that there was illegal supervision, it could automatically imply that the tool i.e. Pegasus was purchased by the government. A clean chit from the Justice Raveendran panel would be a good thing for Modi and his government but it isn’t here, at least not yet. Meanwhile, ignoring the charge of lying, or wishing it away, is not an option. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/pegasus-google-reveals-how-the-sophisticated-spyware-hacked-into-iphones-without-users-knowledge/articleshow/88383175.cms" data-type="tilCustomLink" target="_blank">Google reveals how the sophisticated spyware Pegasus hacked into iPhones without user’s knowledge</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/rupee-is-likely-to-weaken-against-the-us-dollar-in-2022-as-per-experts/articleshow/89218673.cms">Experts say the rupee is likely to weaken against the US dollar this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a>

Simply put, the charge on the Modi government is that it lied to the Parliament about buying Pegasus spyware and it must respond

New Delhi [India], February 1 (ANI): Ahead of the presentation of the interim budget 2024-2025, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> arrived at the Ministry of Finance on Thursday. MoS finance Bhagwat Karad and Pankaj Chaudhary also accompanied her to the finance ministry. The Union Finance Minister will table the interim budget as the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> polls are due to be held this year. This will be her sixth Budget as the Finance Minister and last in the second term of the Modi government. The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls. A full budget will be presented by the new government. The Budget Session of Parliament commenced on Wednesday with President Droupadi Murmu addressing a joint sitting of Lok Sabha and <keyword id="19895369" type="General" weightage="20" keywordseo="rajya-sabha" source="keywords">Rajya Sabha</keyword>. <keyword id="19916494" type="General" weightage="20" keywordseo="sitharaman" source="keywords">Sitharaman</keyword> equaled the record of former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964. In her address, the President said 2023 was a historic year for the country and among other steps, the country kept up the momentum of being the fastest-growing major economy. "The year 2023 was a historic year for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> when it grew the fastest among major economies despite the global crisis. India grew about 7.5 per cent for two consecutive quarters," she said. The last session before Lok Sabha polls, expected to be held in April-May this year, will have a total of eight sittings spread over 10 days. A day before the session was set to start, Parliamentary Affairs Minister Pralhad Joshi, at an all-party meeting, said the budget session would mainly be devoted to the financial business relating to the interim union budget for 2024-25 and discussion on the Motion of Thanks on the President's Address. However, essential legislative and other business may also be taken up during this session. The all-party meeting was attended by 45 leaders from 30 political parties. In addition, he also informed that Supplementary Demands for Grants for 2023-24 in respect of the Union Government will be discussed. The presentation and discussion on the Interim Budget of the Union Territory of Jammu and Kashmir for 2024-25 along with Supplementary Demands for Grants of Union Territory of Jammu and Kashmir for the financial year 2023-24 will also be taken up and voted. The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 which starts this April, said the Ministry of Finance in a review report. India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. The last full Budget of Modi government 2.0 had proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 percent of the GDP. It was almost three times the outlay in 2019-20. (ANI)

Nirmala Sitharaman arrives at Finance Ministry ahead of Budget 2024

<ul><li>The <keyword id="47209" type="General" weightage="20" keywordseo="finance-ministry" source="Orion">finance ministry</keyword> had proposed in its latest Budget Session that employee accounts with more than ₹2.5 lakh annual contribution will be taxable sooner.</li><li>Employees' Provident Fund Organisation (EPFO) has over six crore subscribers.</li><li>The move is aimed to tax HNIs who benefit from tax-free interest income on their large contributions to PF accounts.</li></ul>The government on August 31 announced that Employees Provident Fund (EPF) accounts with more than ₹2.5 lakh annual contribution will be taxed. It was proposed by the government in Budget 2021 that interest on Employees’ Provident Fund (EPF) and Voluntary Provident Fund (VPF) contributions above ₹2.5 lakh in a financial year will be taxable. <cmsannotation type="cmsannotation" annotationid="Why did the government decide to impose tax on excess EPF contributions?" comment="subhead" text="Why did the government decide to impose tax on excess EPF contributions?">Why did the government decide to impose tax on excess EPF contributions?</cmsannotation> The government found out that employees were contributing huge amounts to the PF funds as it ensured 8% returns and tax exemptions at all stages. EPF accounts are like a common man’s retirement fund as they earn average earnings. It is mandatory for employees earning up to ₹15,000 a month in firms with over 20 workers, with 12% of the basic pay and dearness allowance (DA) deducted as employees’ contribution and another 12% remitted by the employer. However, government as well as private sector employees are allowed to make voluntary contributions over and above the statutory deductions. So, to exclude high net worth individuals (HNIs) from the benefit of tax-free interest income on their large contributions, the government has set a threshold limit of ₹2.5 lakh for tax exemption. Those who have contributions below ₹2.5 lakh will not be charged. <cmsannotation type="cmsannotation" annotationid="How will the contribution be taxed?" comment="subhead" text="How will the contribution be taxed?">How will the contribution be taxed?</cmsannotation> The new rules say that for better calculation, two separate accounts shall be maintained from 2021-22 for taxable and non-taxable contributions made by a person. For individuals in the higher tax bracket of 30%, the interest income on contributions above ₹2.5 lakh would get taxed at the same marginal tax rate. For instance, if an individual contributes ₹3 lakh every year to the provident fund (including the voluntary PF contribution) then the interest on his contribution above ₹2.5 lakh, which is ₹ 50,000 will be taxed. This only applies to contributions made from 1 April 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/vijaya-diagnostic-ipo-last-day-for-subscription-allotment-on-september-8/articleshow/85879245.cms">Vijaya Diagnostic IPO’s last day to subscribe, grey market indicates ₹15-₹20 premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-ipo-last-day-for-subscription-and-allotment-on-september-8/articleshow/85879032.cms">Last day to subscribe to Ami Organics IPO, issue oversubscribed by almost four times</a>

If you contribute more than ₹2.5 lakh yearly to provident fund, it will now be taxed — All you need to know

<ul><li>Finance Minister of India <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will present the Union Budget on February 1, 2022.</li><li>This will be the 10th budget that the BJP government led by Narendra Modi presents.</li><li>Huge expectations are pinned to the upcoming budget as it comes at a time when the country is fast recovering from the slowdown across multiple sectors due to COVID-19.</li></ul>The Union Finance and Corporate Affairs Minister Nirmala Sitaraman is expected to present the budget on February 1. This budget will be the fourth one presented by the Narendra Modi led BJP government during its second tenure. The Budget session will start at the Parliament around 11 am on February 1, 2022. Year on year, the Union Government generally hosts the customary Halwa Ceremony to mark the final stage of the Union Budget making process. However, in compliance with the pandemic necessitated safety protocols, this year sweets were distributed to the core staff at their own workplaces. <cmsannotation type="cmsannotation" annotationid="What is special about the 2022 budget?" comment="subhead" text="What is special about the 2022 budget?">What is special about the 2022 budget?</cmsannotation> Setting a new trend, the Union Budget of 2021-22 was presented in paperless form for the first time in the history of the country. Budget 2022-23 will also follow the same trend in furthering environmental friendly initiatives. Also, the government had launched a ‘Union Budget Mobile App’, which facilitated hassle-free access of the budget documents for the members of parliament (MPs) and the general public in the country. Once the Budget session is complete on February 1, 2022 in the parliament, Union Budget 2022-23 will also be available on the Mobile App. The mobile app will provide full access to around 14 Union Budget-related documents, including the budget speech, annual financial statement (budget), finance bills prescribed by the constitution, and demand for grants (DG). This mobile app will be made available in Hindi and English. It will be made available on Android and iOS platforms. ‘The Union Budget Mobile App’, will be available for download on the Union Budget website (<a href="http://www.indiabudget.gov.in">www.indiabudget.gov.in</a>). General public can also download the budget documents on this website. <cmsannotation type="cmsannotation" annotationid="Latest media reports about Budget 2022" comment="subhead" text="Latest media reports about Budget 2022">Latest media reports about <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword></cmsannotation> There will not be any zero hour scheduled in the parliament on January 31 and February 1. Arrangements have been made for the Rajya Sabha leaders to meet virtually on January 31. The parliament is all set to comply with all the COVID-19 protocols strictly during the budget session. <cmsannotation type="cmsannotation" annotationid="Expert remarks on Budget 2022-23" comment="subhead" text="Expert remarks on Budget 2022-23">Expert remarks on Budget 2022-23</cmsannotation> Abheek Barua, chief economist of HDFC Bank said, “Unlike last year when the US Federal Reserve was unleashing a deluge of liquidity in the international banking system, in 2022 the Indian government is drawing up its annual budget at a time when global financial conditions are not quite so conducive. With the Fed signaling an aggressive rate hike path, the degree of monetary support that the Reserve Bank of India has the room to extend is now constrained and the government may therefore have to rely more on fiscal ammunition to ensure that the country’s growth recovery remains on track.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/rupee-is-likely-to-weaken-against-the-us-dollar-in-2022-as-per-experts/articleshow/89218673.cms">Experts say the rupee is likely to weaken against the US dollar this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/explained-indias-annual-economic-survey/articleshow/89201135.cms">EXPLAINED: India’s annual Economic Survey</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/with-covid-expenses-rising-taxpayers-need-more-than-an-insurance-rebate-says-a-wealth-manager/articleshow/89199947.cms">With COVID expenses rising, taxpayers need more than an insurance rebate, says a wealth manager ⁠</a>

Union Budget 2022: Time, date and other details you need to know

<ul><li>The Finance Minister has announced that the <keyword id="6450594" type="General" weightage="20" keywordseo="5g-spectrum" source="Orion">5G spectrum</keyword> auction will be completed in 2022.</li><li>Commercial rollout of 5G will begin in 2022-23.</li><li>The government has also announced a production-linked incentive scheme for 5G.</li></ul>The highly-anticipated 5G auctions will take place in 2022, Finance Minister Nirmala Sitharaman announced on Tuesday during the <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword> session in the Parliament. Sitharaman further added that the commercial rollout of <keyword id="2527485" type="General" weightage="20" keywordseo="5g-services" source="Orion">5G services</keyword> will happen by 2022-23, which means by March 2023, we should have compatible 5G smartphones latch on to the 5G networks of private telecom players Reliance Jio, Airtel and Vodafone Idea. <a href="https://stocktwits.com/CapitalViaGlobalResearch/message/432214312">HFCL</a> could be one of the beneficiaries of this announcement since it makes optical fibre cables. <div type="image" title="ST Telecom post" msid="89278167" hostid="261"></div> Making the announcement, Sitharaman specifically mentioned private players, which suggests that the state-run telco, BSNL, is still a ways away from getting access to the next-gen telecom technology. “The required spectrum auctions will be conducted in 2022 to facilitate roll out of 5G mobile services within 2022-23 by private telecom operators,” Finance Minister Nirmala Sitharaman said. In addition to this, Sitharaman also added that a production-linked incentive scheme will also be announced to push 5G technology in the country. It will be focused on design-led manufacturing. The finance minister also announced that 5% of the Universal Service Obligation Fund (USOF) would be allocated for research and development (R&amp;D) along with commercialisation of technology aimed at improving the proliferation of broadband to the rural areas of the country. USOF is collected from telcos, who pay 5% of their adjusted gross revenue to the government towards this. “All villages should have the same access to communication facilities as urban areas,” Sitharaman added. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-union-budget-2022-updates-and-key-highlights/slidelist/89265881.cms">Union Budget 2022: These are the biggest highlights from the Finance Minister’s speech</a> <a href="https://www.businessinsider.in/budget/news/from-new-updated-it-return-to-surcharge-on-ltcg-at-15-here-are-the-personal-finance-highlights-from-budget-2022/articleshow/89268183.cms">From crypto tax to higher tax audit limits, here are the personal finance highlights from Budget 2022</a> <a href="https://www.businessinsider.in/budget/news/from-cryptocurrencies-to-nfts-india-to-tax-all-virtual-digital-assets-at-30/articleshow/89268587.cms">From cryptocurrencies to NFTs, India to tax all ‘virtual digital’ assets at 30%</a>

5G spectrum auctions in 2022, commercial 5G rollout by 2022-23

<ul><li>Amazon Great <keyword id="14644604" type="General" weightage="20" keywordseo="freedom-festival-sale-2022" source="Orion">Freedom Festival Sale 2022</keyword> is now live on the e-commerce platform.</li><li>The sale offers up to 30-40% discounts on gaming laptops, including exciting exchange offers.</li><li>Here are some of the best offers on gaming laptops from Amazon.</li></ul>Amazon’s Great Freedom Festival is live now; this sale will last five days, from August 6 Aug 10, 2022. This Freedom festival sale has brought a bunch of discounts on electronics, home appliances, smartphones, laptops and more. The <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-freedom-festival-sale-offers-deals-discounts/articleshow/93365404.cms">Freedom sale</a> is exclusive for Prime members and if you are not subscribed to Prime membership then you can subscribe for ₹179 a month and ₹1499 a year. Also, new members can get a 30-day free trial. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Our top picks </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-amazon-great-freedom-festival-deals-on-laptops-from-asus-msi-lenovo-dell-and-more/articleshow/93368479.cms">Best deals on laptops</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/article/best-deals-on-gaming-accessories-like-monitors-keyboards-headphones-and-more/articleshow/93059149.cms">Best deals on gaming accessories</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-amazon-sale-deals-on-kitchen-products/articleshow/93059833.cms">Best deals on kitchen products</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-sale-2022-best-deals-on-high-end-headphones/articleshow/93367376.cms">Best deals on premium headphones</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/amazon-sale-best-deals-on-apple-products-iphone-ipad-airpods-pro/articleshow/93369286.cms">Best deals on Apple products</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-sale-2022-deals-on-mobile-phones-and-tablets/articleshow/93384542.cms">Best deals on mobiles and tablets</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/amazon-sale-best-deals-on-smart-led-tv-television/articleshow/93059258.cms">Best deals on TVs</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-amazon-great-freedom-festival-deals-and-offers-on-speakers-headphones-soundbars-and-more/articleshow/93384828.cms">Best deals on audio products</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-deals-on-fitness-products-gym-equipment-fitness-trackers-treadmill-and-more/articleshow/93385296.cms">Best deals on fitness products</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-amazon-deals-on-large-appliances-ac-tv-fridge-washing-machine-dishwasher/articleshow/93370532.cms">Best deals on home appliances</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/best-deals-and-offers-on-smartwatches-smart-bands-and-other-wearable-devices/articleshow/93059424.cms">Best deals on smartwatches and smart bands</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/news/best-deals-on-furniture-on-amazon/articleshow/93376508.cms">Best deals on furniture</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/news/best-deals-on-fashion-and-beauty-amazon-sale/articleshow/93375317.cms">Best deals on fashion and beauty products</a> </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/check-out-best-deals-on-smart-led-tvs-in-amazon-festival-sale-2022/articleshow/93363340.cms">Best early access deals on smart TVs</a> </td></tr></tbody><tbody></tbody><tbody></tbody></table> During this Great Freedom Festival, the e-commerce giant is offering hefty discounts on laptops from brands like Asus, HP, Dell, Lenovo, MSI and Acer. If you are looking for budget laptops, gaming laptops, or ultrabooks, this sale event has everything you need. <div type="Article" hostid="261" msid="77219001" title="Best budget laptops for students in India" mstype="2" mssubtype="0"></div> Also, the e-commerce giant has partnered with SBI bank to give an additional 10% discount on credit card transactions. <cmsannotation type="cmsannotation" annotationid="Deals on laptops" comment="subhead" text="Deals on laptops">Deals on laptops</cmsannotation> <cmsannotation type="cmsannotation" annotationid="HP 14s" comment="subhead" text="HP 14s">HP 14s</cmsannotation> Available for just ₹35,990, HP 14s is one of the best picks during the Great Freedom Festival as it was originally priced for ₹48,933. You can buy this laptop at no-cost EMI via SBI credit card and Amazon Pay ICICI credit card. Other than these, you can avail additional 10% discount on using an SBI credit card. The laptop features an Intel Core i3 processor which is paired with 8GB RAM and 256GB SSD. <cmsannotation type="cmsannotation" annotationid="B09MH9M5CV" comment="amazoncard" text="B09MH9M5CV">B09MH9M5CV</cmsannotation> <div type="Article" hostid="261" msid="86419027" title="Best i5 Processor laptops in India" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Dell New 14" comment="subhead" text="Dell New 14">Dell New 14</cmsannotation> If you are looking for a laptop that can handle all your tasks seamlessly and serve the purpose of entertainment, then Dell New 14 is worth considering. You can buy it for just 40,700, originally priced at ₹65,000. It features a 10th Generation Intel Core i3 processor, 4GB RAM, 256GB of internal storage and 14- inch full HD display. <cmsannotation type="cmsannotation" annotationid="B08R777GBL" comment="amazoncard" text="B08R777GBL">B08R777GBL</cmsannotation> <div type="Article" hostid="261" msid="77609089" title="Best business laptops for office and personal use in India" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Lenovo ThinkBook 15" comment="subhead" text="Lenovo ThinkBook 15">Lenovo ThinkBook 15</cmsannotation> Currently available for ₹64,500, Lenovo ThinkBook 15 is worth considering. By using Amazon Pay ICICI Credit Card you can buy it at no-cost EMI meaning you don't have to pay any interest on EMI. Besides this, by using an SBI credit card you can get an additional 10% discount. <cmsannotation type="cmsannotation" annotationid="B09G3CWM3J" comment="amazoncard" text="B09G3CWM3J">B09G3CWM3J</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Mi Notebook Ultra" comment="subhead" text="Mi Notebook Ultra">Mi Notebook Ultra</cmsannotation> If you are looking for an ultrabook during this festival session, you can’t miss this. During Kickstarter deals the Mi Notebook Ultra is available for just ₹52,990, originally priced at ₹71,999. Also, if you are an SBI credit card holder, you can get an additional 10% discount. Also, if you have an old laptop, you can swap it with Mi Notebook Ultra and save up to ₹18,000. <cmsannotation type="cmsannotation" annotationid="B098XLXDRS" comment="amazoncard" text="B098XLXDRS">B098XLXDRS</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Redmi Book Pro" comment="subhead" text="Redmi Book Pro">Redmi Book Pro</cmsannotation> Currently, available for ₹39,990, the Redmi Book Pro is worth considering as originally it was priced for ₹59,999. Additionally, buyers can save up to ₹18,100 on exchange. Besides this, get an instant 10% discount on using an SBI credit card. <cmsannotation type="cmsannotation" annotationid="B09L53YH86" comment="amazoncard" text="B09L53YH86">B09L53YH86</cmsannotation> <cmsannotation type="cmsannotation" annotationid="LG Gram17" comment="subhead" text="LG Gram17">LG Gram17</cmsannotation> Currently available for ₹1,11,299 you can’t afford to miss LG Gram17. This ultra-thin and light laptop features a 12th Gen Intel Core Processor paired with 16 GB LPDDR5 RAM. It has a 17- inch IPS display panel with anti-glare technology and Intel Iris Xe Graphics. Buy using an SBI bank credit card you can get an instant 10% discount. <cmsannotation type="cmsannotation" annotationid="B0B4V8KMTZ" comment="amazoncard" text="B0B4V8KMTZ">B0B4V8KMTZ</cmsannotation> <div type="Article" hostid="261" msid="83775604" title="Best gaming laptops under ₹80,000 in India in 2022" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Exclusive deals on gaming laptops" comment="subhead" text="Exclusive deals on gaming laptops">Exclusive deals on gaming laptops</cmsannotation> <cmsannotation type="cmsannotation" annotationid="HP Victus AMD Ryzen 5 5600H" comment="subhead" text="HP Victus AMD Ryzen 5 5600H">HP Victus AMD Ryzen 5 5600H</cmsannotation> If you are buying a gaming laptop, this is the right time to grab this deal. The HP Victus AMD Ryzen 5 5600H laptop is available for just ₹54,990 as it was originally priced for ₹71,343. This gaming laptop features 16.1- an inch display and has a maximum refresh rate of 60Hz. It has 8 GB DDR4 RAM, AMD Radeon RX 5500M graphics card, and runs on Windows 10. If you are a newbie or looking for a gaming laptop at an affordable price, then your search could end here. <cmsannotation type="cmsannotation" annotationid="B098QBT5KT" comment="amazoncard" text="B098QBT5KT">B098QBT5KT</cmsannotation> <cmsannotation type="cmsannotation" annotationid="MSI Gaming GF63" comment="subhead" text="MSI Gaming GF63">MSI Gaming GF63</cmsannotation> This gaming laptop is available at a massive discount of 25%. It features a 15.7-inch screen, 8GB of RAM, and 256GB of internal storage. To enhance your gaming experience, it is equipped with Nvidia GTX1650 4GB graphics card. The laptop is available for ₹53,990, down from its original price of ₹76,990. <cmsannotation type="cmsannotation" annotationid="B09YTVB91N" comment="amazoncard" text="B09YTVB91N">B09YTVB91N</cmsannotation> <div type="Article" hostid="261" msid="86238472" title="Best laptops with Intel i7 processors in India" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="ASUS TUF Gaming F15" comment="subhead" text="ASUS TUF Gaming F15">ASUS TUF Gaming F15</cmsannotation> We have seen Asus TUF Gaming F15 selling at ₹74,990 but today, during the Great Freedom Festival Sale, the laptop is available at ₹54,990, making it one of the best picks for gamers. During the Prime day sale, it is one of the most affordable laptops that features a 144Hz refresh rate, Nvidia GTX GPU and 8GB of DDR4 RAM. <cmsannotation type="cmsannotation" annotationid="B09RMTMBSM" comment="amazoncard" text="B09RMTMBSM">B09RMTMBSM</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Acer Nitro 5" comment="subhead" text="Acer Nitro 5">Acer Nitro 5</cmsannotation> The Acer Nitro 5 AN515-55 gaming laptop is powered by the 10th generation Intel Core i5 processor coupled with 8GB DDR4 RAM, 256GB SSD and a 1TB HDD. In addition, it is equipped with Nvidia GeForce GTX 1650Ti graphics. The laptop features a 15.6-inch Full HD IPS display with a 144Hz refresh rate. Currently listed for ₹58,990 it is one of the best deals you can’t miss. <cmsannotation type="cmsannotation" annotationid="B09X7SXPKC" comment="amazoncard" text="B09X7SXPKC">B09X7SXPKC</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Lenovo Legion 5" comment="subhead" text="Lenovo Legion 5">Lenovo Legion 5</cmsannotation> The cheapest of the cheap, this gaming laptop will get you some decent performance on a budget thanks to its 4th Gen AMD Ryzen 5 processor, Nvidia GeForce GTX 1650 graphics card, 8GB of RAM, and 256GB SSD. During the Amazon Great Freedom Festival Sale, you can buy it at ₹67,990, down from its original price of ₹79,990.. <cmsannotation type="cmsannotation" annotationid="B08GG8WCW7" comment="amazoncard" text="B08GG8WCW7">B08GG8WCW7</cmsannotation> <div type="Article" hostid="261" msid="93367376" title="Amazon Great Freedom Festival Sale 2022: Best deals on high-end headphones" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="DELL Alienware x14" comment="subhead" text="DELL Alienware x14">DELL Alienware x14</cmsannotation> If you are looking for an Alienware gaming series laptop, your search will end here. Currently, available for ₹1,49,990, DELL Alienware x14 is the best pick as originally it was priced for ₹2,06,119. It features a 14-inch full HD display with a maximum refresh rate of 144Hz. Additionally, it comes with GSYNC + Advanced Optimus, 16GB DDR5 RAM, 512GB SSD for internal storage, Nvidia RTX 3050 4GB graphic card and Dolby Atmos technology. <cmsannotation type="cmsannotation" annotationid="B0B467YWV3" comment="amazoncard" text="B0B467YWV3">B0B467YWV3</cmsannotation> Disclaimer - When you purchase through links on Business Insider India, we may earn affiliate commission.

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<ul><li>Government is planning to bring changes to income tax laws to bring cryptocurrencies under the tax net in Budget 2022.</li><li>Also, it is likely to introduce a bill on cryptocurrencies during the Winter Session of Parliament.</li><li>This comes amid a rising number of advertisements, featuring even film stars, promising easy and high returns on investments in cryptocurrencies.</li></ul>The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the budget next year, a top official said. Revenue secretary <keyword id="947916" type="General" weightage="20" keywordseo="tarun-bajaj" source="Orion">Tarun Bajaj</keyword> said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of goods and services tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> "We will take a call. I understand that already people are paying taxes on it. Now that it has really grown a lot, we will see whether we can actually bring in some changes in law position or not. But that would be a budget activity. We are already nearing the budget, we have to look at that point of time," Bajaj told PTI in an interview. Asked if a provision of TCS (tax collected at source) could be introduced for crypto trading, the secretary said "if we come up with a new law then we will see what is to be done". "But yes, if you make money you have to pay taxes... We have already got some taxes, some have treated it as an asset and paid capital gains tax on it," he said. Asked whether people involved in cryptocurrency trading would be categorized as facilitator, brokerage and trading platform and how the taxation would be done under GST, Bajaj said "there would already be such things available in other services also. So whatever GST rate they are taxed at, that will be applicable on them." "They have to get themselves registered. The GST law is very clear. If there is an activity, if there is a broker who is helping people and charging brokerage fee, GST would get charged," he said. Separately, the government is likely to introduce a bill on cryptocurrencies during the Winter Session of Parliament beginning November 29, amid concerns over such currencies being allegedly used for luring investors with misleading claims. Notably, there have been a rising number of advertisements, featuring even film stars, promising easy and high returns on investments in cryptocurrencies in recent times. Currently, there is no regulation or any ban on use of cryptocurrencies in the country. Against this backdrop, Prime Minister Narendra Modi, last week, held a meeting on cryptocurrencies with senior officials and indications are that strong regulatory steps could be taken to deal with the issue. Earlier this week, the Standing Committee on Finance, chaired by BJP member Jayant Sinha, met the representatives of crypto exchanges, block chain and Crypto Assets Council (BACC), among others, and arrived at a conclusion that cryptocurrencies should not be banned, but it should be regulated. The RBI has repeatedly reiterated its strong views against cryptocurrencies saying they pose serious threats to the macroeconomic and financial stability of the country and also doubted the number of investors trading on them as well as their claimed market value. RBI governor Shaktikanta Das too earlier this month had reiterated his views against allowing cryptocurrencies saying they are a serious threat to any financial system since they are unregulated by central banks. The Supreme Court in early March 2020, had nullified the RBI circular banning cryptocurrencies. Following this on February 5, 2021, the central bank had instituted an internal panel to suggest a model of the central bank's digital currency. The RBI had announced its intent to come out with an official digital currency, in the face of proliferation of cryptocurrencies like Bitcoin about which the central bank has many concerns. Private digital currencies/virtual currencies/crypto currencies have gained popularity in the past one decade or so. Here, regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. It can be noted that on March 4, 2021, the Supreme Court had set aside an RBI circular of April 6, 2018, prohibiting banks and entities regulated by it from providing services in relation to virtual currencies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/phonepe-announces-esop-buyback-worth-135-crore-for-employees/articleshow/87802097.cms">PhonePe announces ESOP buyback worth ₹135 crore for employees</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/what-is-bitcoin-golden-cross-and-death-cross/articleshow/87796591.cms">Bitcoin investors love the golden cross and death cross — here’s why they matter but there are other factors to keep in mind</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mindhouse-raises-6-million-in-seed-funding-led-by-binny-bansal/articleshow/87798613.cms">Flipkart's Binny Bansal bets on Zomato cofounder's two-year-old venture</a>

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