Budget 2020 Live: Finance Minister Nirmala Sitharaman today presented the annual Union Budget 2020-21 in Parliament. Follow Business Standard for LIVE updates
From new tax regime proposed in the Budget to falling states' share in central tax pool, here are the top 10 business headlines for the day
Slowdown in economic growth has taken a clear toll on revenue growth
The tax proposals are aimed at stimulating growth, simplifying tax structure, bringing ease of compliance and reducing litigation
This includes loans from NSSF at Rs 1.36 trillion
Kumar said the idea behind the listing of LIC was to "bring in more transparency and allow the company to share gains with its stakeholders"
Expectations remain high but fiscal constraints could lead to the emergence of implementation challenges in many of the schemes during the year
The FM disagreed with experts who termed the new tax regime complex and unavailing saying it would benefit some taxpayers, if not all
The direct tax proposals aim to accelerate economic momentum and ease of living for taxpayers, though the key will lie in smooth administration
Companies which stand to gain the most are rural focused players, gas utilities, building material makers and logistics firms.
With the exception of IT, every sectorial index at the NSE is in a downturn
There were no big-bang measures for foreign portfolio investors (FPIs) in the Budget
The bank is expected to come out of the Reserve Bank of India's prompt corrective action (PCA) framework by March 2020
'The disappointment is on the lack of bold, out of the box measures to tackle the current economic slowdown'
The government's decision of upholding power purchase agreements as well as the opening up of railways, city gas distribution, and electricity supply to the private sector, are welcome steps
India Inc tax collections to fall 8% in FY20
The renewable energy sector is elated that the benefit will come to them, given no future pipeline of any thermal power projects
Fiscal prudence has been given priority over fiscal stimulus which will contain the growth of debt liabilities, but it will not provide the strong public expenditure push required for reviving growth
The Budget offers huge relief to exporters with the introduction of a new scheme for reversion of duties and taxes on exported products
But Customs duty hike may lead to price rise in EVs, ACs, refrigerators & handsets