Govt to initiate PSBs’ consolidation process after Q1 results

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official… Continue reading Govt to initiate PSBs’ consolidation process after Q1 results

Govt may approve one more PSU bank consolidation by March 2018

Financial News : Enthused by the success of merger, the Finance Ministry is considering clearing another such proposal in the public sector banking space by this fiscal end with a goal to create 4-5 global sized lenders. Five associate banks and Bharatiya Mahila Bank (BMB) became part of SBI on April 1, 2017, catapulting the… Continue reading Govt may approve one more PSU bank consolidation by March 2018

Budget 2017: Breather for gains from property and inherited jewellery

This will bring down capital gains especially in case of property transactions Capital gains on sales of assets such as property and gold will decline after the proposal to shift the base year for calculation of the indexation benefit from 1981 to 2001, as announced by Finance Minister Arun Jaitley. The cost index helps to… Continue reading Budget 2017: Breather for gains from property and inherited jewellery

Budget 2017 has sops for selling property but restrictions on buying

Budget 2017 : Your tax liability would now be lower when you sell a house in the third year after purchase. You can now claim long term capital gains (LTCG), if you sell a house after holding it for two years from the date of completion. Earlier, one could claim LTCG only after a holding… Continue reading Budget 2017 has sops for selling property but restrictions on buying

3 reasons why the Sensex rallied 486 points on Budget 2017 day

Markets gave a thumbs up to the Budget 2017 proposals by finance minister Arun Jaitley, with the S&P BSE Sensex and the Nifty50 indices settling nearly 1.8% higher each at 28,142 and 8,716 levels respectively. This is the first time since October 25 that the Nifty50 index has closed above 8,700 levels.   Broader markets,… Continue reading 3 reasons why the Sensex rallied 486 points on Budget 2017 day

Highways allocation stepped up to Rs 64,000 crore: Arun Jaitley

Finance Minister Arun Jaitley on Wednesday announced enhancing the outlay for National Highways by 11 per cent to Rs 64,000 crore for 2017-18.   Presenting the Budget in Parliament on Wednesday, Jaitley said, “In the road sector, I have stepped up the budget allocation for the National Highways from Rs 57,676 crore in the budget… Continue reading Highways allocation stepped up to Rs 64,000 crore: Arun Jaitley

No more gloom as Budget 2017 gives people many reasons to cheer: Know how

Call it a populist budget or a socialist one, Modi government has put in every effort to cast away gloom that had settled in post demonetisation move. Finance Minister Arun Jaitley on Wednesday presented a historic budget – since this was the first one in 92 years, which merged Railway Budget to the Union one.… Continue reading No more gloom as Budget 2017 gives people many reasons to cheer: Know how