Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The Indian government will release as much as ₹70,000 crore upfront to ease the ongoing credit crisis in the country. </li><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> said that banks will be able to raise an additional ₹5 lakh crore to re-captalise banks. </li><li>She hopes that as public sector banks are provided with liquidity they will be able to capitalize non-banking financial companies (NBFCs). </li></ul> The Indian government will release as much as ₹70,000 crore upfront to public sector banks to ease the ongoing credit crisis in the country. In a press conference today, Finance Minister Nirmala Sitharaman said that banks will also be able to raise an additional ₹5 lakh crore which will help re-captalise banks which are stressed with non-performing assets. Banks have agreed to ease the high interest rates of the country. They have agreed to pass on the advantage of the four base rate cuts by the Reserve Bank of India (RBI); to customers. “I am grateful that banks have agreed to pass on rate cut benefits. It will help reduce EMIs for housing, retail and other loans. They will also come with external benchmark linked products which will also ease working capital loans for companies,” Sitharaman said. She hopes that as public sector banks are provided with liquidity they will be able to capitalize non-banking financial companies (NBFCs). That will trickle down to help loan seekers as NBFCs have extensive reach which can increase credit growth in the country. SEE ALSO <a href="https://www.businessinsider.in/business/value-of-government-investment-in-psu-bank-stocks-is-less-than-the-market-value/articleshow/70731040.cms">Indian government’s ₹3 trillion gift to banks ended in a money pit</a>

Indian government to make loans easier and cheaper with a ₹70,000 crore gift to banks

Guwahati, Feb 27 () Union Finance Minister Nirmala Sitharaman on Thursday said that investor sentiment has not been dampened by anti-CAA protests and the recent Delhi violence.Addressing a press conference here, she said the investors she met in her recent visit to Saudi Arabia expressed willingness to invest more in the country.When asked about the Delhi violence and anti-CAA protests, Sitharaman said, "The sentiments of foreign investors have not been dampened."On the possible impact of coronavirus scare on the industry and the economy, the finance minister said there is none as of now."However, if the situation doesn't improve in the next two months, there may be shortage of raw material. We are working on how to address the issue and help the industry," she added. TR NN MKJ

Delhi violence, anti-CAA protests have not dampened investor sentiment: FM

<ul><li>Indian Finance Minister Nirmala Sitharaman unleashed a euphoric rally in the country's equity markets with sweeping cuts in corporate tax rates.</li><li>Hope floats that the profitability of Indian firms will spike due to the government's ₹1.45 trillion stimulus.</li><li>The benefit to the bottomline of all listed firms in India is estimated at ₹44,000 crore.</li></ul>Corporate India is celebrating the sweeping tax cuts announced by Finance Minister Nirmala Sitharaman on Friday (September 20). With the latest cuts, the effective corporate tax rate on Indian firms is less than many other countries including Brazil, China, South Africa, Indonesia, Mexico, France, and Korea to name a few. "With new effective rate of 25.17% tax saving for our sample of 3446 listed companies could at least be ₹44,000 crore (about $6.3 billion), which is a substantial boon corporates waiting for business revival in stressed environment," according to a report by State Bank of India. However, Indian firms will have to let go of some exemptions and incentives to enjoy lower taxes. These are the incentives to forego for lower corporate tax rate in India <ol><li>Special provisions in respect of newly established units in Special Economic Zones </li><li>Depreciation </li><li>Investment in new plant or machinery in notified backward areas in certain states </li><li>Tea development account, coffee development account and rubber development account </li><li>Site restoration fund </li><li>Expenditure on scientific research </li><li>Deduction in respect of expenditure on specified business </li><li>Expenditure on agricultural extension project </li><li>Expenditure on skill development project </li><li>Deduction in respect of certain incomes (section 80H to section 80TT except section 80JJAA) </li></ol> Indian Finance Minister Nirmala Sitharaman has unleashed the market's animal spirits with a massive stimulus to end the country's economic downturn. The government has given up ₹1.45 trillion in revenue that will leave more money in the hands of businesses to invest and revive the economy. Stock markets in India are on cloud nine hoping for more profits due to lower taxes. Sensex has jumped over 5%, the sharpest single day in many years. The Bank Nifty, the index of the country's top bank stocks, ended the day over 8% up. These are the top announcements made by Sitharaman in a press conference that has sparked a historic rally in Indian stock markets. <ol><li>Firms have an option to pay income tax at 22% if they give up exemptions or incentives.</li><li>The effective tax rate will come down sharply to 25.7% boosting profitability of companies.</li><li>Any new domestic company incorporated on or after Oct 1, 2019, making fresh investment in manufacturing, has an option to pay income tax at 15%.</li><li>Foreign investors have been exempted from the additional surcharge imposed in the latest budget.</li><li>Minimum Alternate Tax reduced from existing 18.5% to 15% before surcharge.</li><li>No tax on share buybacks announced before July 5, 2019.</li><li>Money spent on state-run startup incubators or any central or state government agency will count as CSR.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/business/heres-what-corporate-tax-rate-looks-like-in-different-countries-around-the-world/articleshow/71219117.cms" data-type="tilCustomLink" target="_blank">Here’s what corporate tax rate looks like in different countries around the world</a> <a href="https://www.businessinsider.in/business/india-inc-is-going-gaga-over-nirmala-sitharamans-corporate-tax-cuts/articleshow/71216617.cms" data-type="tilCustomLink" target="_blank">India Inc is going gaga over Nirmala Sitharaman’s corporate tax cuts</a>

Indian companies have to forego these exemptions to enjoy the $6 billion benefit from lower taxes

<ul><li>Foreign investors had pulled out billions from India's equity market ever since the tax surcharge was announced in the latest budget.</li><li>The Narendra Modi government also announced a slew of measures including tax reforms to revive a sluggish economy.</li><li><keyword id="7706673" type="UNKNOWN" weightage="20" keywordseo="finance-minister-nirmala-sitharaman">Finance Minister Nirmala Sitharaman</keyword> and her team addressed a press conference to restore the faith in the economy and the government.</li><li>Reform is a continuous process, she said in her opening remarks.</li></ul>In a bid to restore the faith in the Indian economy and the Narendra Modi government, Finance Minister Nirmala Sitharaman assured the investors that the government respects wealth creators and declared that the surcharge on foreign and domestic equity investors has been rolled back. The benefit of the rollback is not available to the high net worth individuals. They will continue to pay the additional surcharge. However, the Finance Minister said that the government will review the decision in 2022, the seventy-fifth year of Indian independence. The latest budget for the financial year ending March 2020 imposed an additional tax on the country's super rich and foreign portfolio investors (FPIs) got caught in the crossfire. The subsequent anger and market sell-off has wiped off billions of rupees in share market wealth since then as foreign investors rushed for the exit. Most foreign portfolio investors in India operate as non-corporate entities such as trusts and associations, which are taxed like individuals and therefore the additional tax would fall on them. The government will lose ₹1,400 crore by rolling back the additional surcharge imposed in the latest budget. For now, the capital gains on trading of shares by foreign and domestic investors will be exempt but the country's super rich will continue to pay the additional levy on their total taxable incomes. SEE ALSO: <a href="https://www.businessinsider.in/politics/policy/nirmala-sitharam-address-on-india-economic-stimulus-live-updates-and-highlights/articleshow/70804926.cms" data-type="tilCustomLink" target="_blank">India unveils economic stimulus-- from homes to cars to banks to infrastructure to equity markets</a>

The higher tax on India's super rich continues-- only the capital gains are exempt

While the country is hotly discussing a crisis situation in the national economy, the slack in the economic growth and the slump in a number of industry sectors like automobiles, housing and MSMEs has triggered widespread concerns not only among the industry stakeholders and the general masses but also in the government. Amidst criticisms and a growing sense of unrest, the government has initiated a series of measures to counter the economic slowdown and put back the nation’s economy on the right track to growth. The government starts off with a series of announcements What was talked of as a major boost to save the slowing economy that has come during a crucial hour when the BJP government assumed the power at the center for the second tenure, the Finance Minister Nirmala Sitharaman started off with a slew of announcements on August 23, 2019 that would benefit different sectors including the banking, finance, HFCs, NFBCs, MSMEs and others. The important line of measures by the government in the lines of saving the country’s economy included the following. The surcharge levied on FPI and DI profits have been lifted thereby restoring the position that was before the budget. The government also announced 15% more depreciation on the vehicles purchased from the date of announcement till March 2020. The raise in registration fees have been deferred. The finance minister said the CSR violations will no more be treated as a criminal issue and it will be dealt with as a civil matter. Removal of angel tax is thought of as a measure to benefit the startups and investors which will, in turn, lead to more entrepreneurial activity and employment. One more lifeboat to save the slowing economy Throwing yet another lifeboat to save the sinking economy, the finance minister Nirmala Sitharaman few more strategic announcements that are deemed significant in the interest of reviving the slowing economy. These announcements that followed on Friday, September 20, 2019, in a press conference contained the following elements. To encourage overseas investors, Nirmala Sitharaman announced withdrawing the increase on surcharges on foreign portfolio investors that was earlier introduced in the 2019 budget. Also, angel tax on the start-ups has been lifted. The banks are advised to pass on the benefits of the RBI’s repo rate cuts to the borrowers. This move is viewed to bring down the rates of interests of auto loans and home loans. To apply an ointment over the wounds suffered by the automobiles industry, the finance minister announced that the BS4 vehicles bought till March 2020 can be operated for their entire period of registration. In order to revive the auto sector, the government has chosen to lift the ban on the government bodies to replace their old vehicles for new ones. Summary of Growth Packages Announced by the Government On the whole, the efforts on part of the government now in the lines of reviving the falling economy seems to focus on boosting up the purchase of houses, vehicles and consumer goods. The additional liquidity facilitated through several moves is expected to see the HFCs and NHB supported thoroughly. The finance minister has also said the government will make two more sets of announcements in the near future that would again augment the efforts by the venter to alleviate the economic slowdown.

You Searched For "nirmala sitharaman press conference" and got 5 results

Indian government to make loans easier and cheaper with a ₹70,000 crore gift to banks

Katya Naidu

Delhi violence, anti-CAA protests have not dampened investor sentiment: FM

PTI

Indian companies have to forego these exemptions to enjoy the $6 billion benefit from lower taxes

Sriram Iyer

The higher tax on India's super rich continues-- only the capital gains are exempt

Sriram Iyer

Here's everything that the Indian Government has done to revive the economy

BI India Bureau

Popular Keywords

Buying Guides