Finance Minister Nirmala Sitharaman's plan to sell bonds overseas comes as PM Modi faces shrinking options to raise funds.
This will be done by clubbing the shareholding of state-run banks, financial institutions like LIC and other PSUs, she said.
Customs duty on gold was also increased to 12.5 per cent from existing 10 per cent, said finance minister Nirmala Sitharaman.
While the middle-class got tax breaks, particularly on housing loans which as a sum of parts stretched to Rs 7 lakh over 15 years, the axe, however, fell on the super-rich.
Modi said the policies of the government will empower the downtrodden and turn them into a "power house" for the development of the country.
Many structural changes are needed for the country to become a $5 trillion economy, adding the target is eminently achievable, said the finance minister.
Presenting the first Budget of the Modi government in its second term, Sitharaman also said a package for power sector and structural reforms will be unveiled soon.
While the government managed to rein in subsidies and interest payments over the past five years, capex continues to be constrained by circumstances.
When a government puts norms and convention to the winds and begins preaching on ‘Vision 2030’ in what is effectively a four-month Interim Budget, then you know its direction.
Government will spend Rs 7627 crore per day. But it earns only Rs 5418.33 crore per day. So, it will borrow Rs 1928.76 crore per day...
Farmers, as well as companies with exposure to rural India and middle-class taxpayers, seem to be the clear winners here at the expense of the country’s fiscal deficit.
Apart from promising the indigenously developed Vande Bharat Express, interim Finance Minister Piyush Goyal also claimed that all unmanned level crossings on broad gauge have been eliminated.
Finance Minister Piyush Goyal in the last Budget by the Modi government has announced tax exemption limit up to Rs 5 lakh. This was but one of the many sops in a please-all budget.
Here are a few recommendations we believe will help the cause of real estate in general and housing demand in particular.