In her Budget speech, Nirmala Sitharaman announced that part of the state-owned LIC will be offered to private investors as part of the government's disinvestment initiative.
Companies currently pay the DDT on the dividend given to shareholders at the rate of 15%, plus applicable surcharge and cess, in addition to the tax payable on profits.
This is second consecutive year when Union Budget allocation for pollution-related schemes has seen substantial increase. In 2018-19, allocation was Rs 5 cr.
With Census 2011 as basis, the panel has reduced shares of states like Kerala, Andhra Pradesh and Telangana. States expected to oppose the recommendations.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
It is a second poor budget in succession. There is not even a mention of economic slowdown and persisting economic challenges in the lengthy speech delivered by the FM. It is just presented as a routine budget in an ordinary situation. Most disappointing.
Listing of LIC needs to be viewed with circumspection. Like ONGC, it has been bled of vitality. Unlike ONGC, all its surplus funds do not represent accumulated profits. Advance receipts by way of premia. It is being directed to participate in the disinvestment process, with the long term interests of its policy holders subordinated to fiscal imperatives. Not being permitted to take dispassionate, business like decisions while investing its funds. 2. One would venture to suggest that standards of corporate governance followed by the government do not conform to what SEBI would enforce in the private sector. The government is often unfair to minority shareholders. So, instead of selling small stakes to the public and retaining majority ownership and absolute managerial control, it would be more appropriate to either retain 100% ownership, or offer all of it for sale, as is being considered for Air India.
It would be ungenerous to regard the market’s near 1,000 point fall as an accurate, infallible assessment of the Budget. 2. Two features of the economy, the collapse of growth and huge fiscal stress, reinforcing each other – here it would not be ungenerous to hold the government largely responsible for both – ought to have been addressed by the government as its central focus for the second term. Clearly there was no room for fiscal giveaways or enlarged government spending. 3. So the government ought to have focused on genuine reform, in sectors as basic as banking and power. What we have got by infusing 3.5 trillion as “ recap “ funds for the PSBs, with credit growth at historic lows. There is no Thatcherite vision behind disinvestment – no way it can yield two trillion – beyond a desperate need to sell the family silver to pay the grocery bills. 4. 2024, when a third term will be solicited, would mark a decade in office. Whatever else it may have achieved, a decently performing economy is not looking like being part of the legacy.
It is a second poor budget in succession. There is not even a mention of economic slowdown and persisting economic challenges in the lengthy speech delivered by the FM. It is just presented as a routine budget in an ordinary situation. Most disappointing.
Listing of LIC needs to be viewed with circumspection. Like ONGC, it has been bled of vitality. Unlike ONGC, all its surplus funds do not represent accumulated profits. Advance receipts by way of premia. It is being directed to participate in the disinvestment process, with the long term interests of its policy holders subordinated to fiscal imperatives. Not being permitted to take dispassionate, business like decisions while investing its funds. 2. One would venture to suggest that standards of corporate governance followed by the government do not conform to what SEBI would enforce in the private sector. The government is often unfair to minority shareholders. So, instead of selling small stakes to the public and retaining majority ownership and absolute managerial control, it would be more appropriate to either retain 100% ownership, or offer all of it for sale, as is being considered for Air India.
It would be ungenerous to regard the market’s near 1,000 point fall as an accurate, infallible assessment of the Budget. 2. Two features of the economy, the collapse of growth and huge fiscal stress, reinforcing each other – here it would not be ungenerous to hold the government largely responsible for both – ought to have been addressed by the government as its central focus for the second term. Clearly there was no room for fiscal giveaways or enlarged government spending. 3. So the government ought to have focused on genuine reform, in sectors as basic as banking and power. What we have got by infusing 3.5 trillion as “ recap “ funds for the PSBs, with credit growth at historic lows. There is no Thatcherite vision behind disinvestment – no way it can yield two trillion – beyond a desperate need to sell the family silver to pay the grocery bills. 4. 2024, when a third term will be solicited, would mark a decade in office. Whatever else it may have achieved, a decently performing economy is not looking like being part of the legacy.