Centre extends tax holiday for homegrown startups till March 31, 2024
The tax holiday scheme was earlier available for startups incorporated till March 31, 2023. "We propose to extend the date of incorporation for income tax benefits startups from 31.3.2023 to 31.3.2024. I further propose to provide the benefit of carry forward of losses on change of shareholding of startups
47.8 crore Jan Dhan accounts opened: Finance Minister
Sitharaman said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh self help groups (SHGs). Launched in 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) is the national mission for financial inclusion to ensure access to financial services
Measures likely to give some momentum to laggard deposits
With the credit offtake being good while deposit mobilisation lagging behind, the Centre may announce something to increase bank deposits, they added. "The banking sector -- government and private -- is stable now. We don't expect any capital infusion announcement by the Finance Minister for the public sector banks," Sanjay Agarwal, Senior Director, CARE Ratings
Dec 2022 GST collections stand at Rs 1,49,507 crore: Govt
However, on year-on-year basis, GST revenue collected for December 2022 was 15 per cent higher than collections of December 2021, which was Rs 1,29,780 crore. Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row, the figures mentioned. The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).
Government keeping watch on inflation: Nirmala Sitharaman
Responding to a discussion on Supplementary Demands for Grants in the Rajya Sabha, Nirmala Sitharaman said that wholesale price index (WPI) based inflation has slid to a 21-month low. Retail inflation also fell to a 10-month low of 5.88 per cent in November 2022, after remaining beyond the RBI's upper tolerance level of 6 per cent.
Nirmala Sitharaman exhorts NIIF to leverage India's investment fundamentals
The finance minister Nirmala Sitharaman exhorted the NIIF team to also explore opportunities under the National Infrastructure Pipeline, PM GatiShakti and National Infrastructure Corridor, which include a big pool of investible greenfield and brownfield investment projects.
Finance Minister calls for infrastructure investments, simple international taxation rules
During her interventions in the conference, which is taking place on the sidelines of the IMF-WB annual meetings, Sitharaman focussed on infrastructure investments and international taxation. On scaling up sustainable and digital infrastructure investments, she highlighted the need to leverage private sector participation.