Daily Archives: July 5, 2019

Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after FM raises tax


Petrol price will be hiked by over Rs 2.5 per litre and diesel by more than Rs 2.3 after Finance Minister Nirmala Sitharaman Friday raised taxes on the fuels to part-fund her Budget for 2019-20. Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre each to raise over Rs 28,000 crore. ...

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Public Sector Banks proposed to be provided Rs 70,000 crore capital to boost credit


Public Sector Banks are to be further provided Rs 70,000 crore capital to boost credit for a strong impetus to the economy. To further improve ease of living, they will leverage technology, offering online personal loans and doorstep banking, and enabling customers of one Public Sector Bank to access services across all Public Sector Banks. While presenting Union Budget 2019-20 ...

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Budget 2019: Government increases import duty on Gold to 12.5 percent


The government has proposed to increase import duty on gold and other precious metals to 12.5 percent. This will lead to expensive gold and ornaments in the domestic market. In her budget speech, Finance Minister Nirmala Sitharaman proposed to increase customs duty on gold and other precious metals from 10 to 12.5 percent. The government has proposed this at a ...

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Budget 2019: Corporates earning more than 400 crores to be taxed 25 percent


Finance Minister Nirmala Sitharaman presented the country’s “Book Account” on Friday. It has got great relief in the corporate sector. Under the new proposal, now the companies doing annual business up to Rs 400 crore will be in the corporate tax slab of 25 per cent. Prior to this, 25 per cent of corporate tax was included in companies which ...

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