Author: Finance Khabar

New Delhi: Mortgage lender HDFC Ltd on Tuesday reported a consolidated profit after tax of Rs 5,177 crore in the third quarter this fiscal compared to Rs 3,835 crore in the year-ago period. On a standalone basis, net profit for the December quarter stood at Rs 2,926 crore as against Rs 8,372 crore a year ago. For the nine-month period ended December 31, 2020, profit after tax was Rs 8,847 crore compared to Rs 15,537.12 crore in the year-ago period. The lender said the profit numbers for the quarter as well as nine months ended December 31, 2020, are not…

Mumbai: Even after Budget Day, the stock market has seen a great boom. Investors are shopping fiercely in the market since 2 days. In today’s trade, the Sensex has gained 1197 points to close at 49,797.72. At the same time, the Nifty also strengthened by 367 points and closed at the level of 14648. On its first Budget Day, the Sensex was strengthened by about 2314 points and closed at the level of 48,601. At the same time, the Nifty also closed with a gain of 647 points at 14281. Today, Bank Nifty has crossed over 34,000 due to strong…

Worldwide the patient survival rate averages at 90% while Rela Hospital achieved a 99.2% patient survival rate New Delhi: Rela Hospital, a Multi-Speciality Quaternary Care Hospital at Chromepet, Chennai,has accomplished a truly remarkable global milestone of achieving 99.2% patient survival rate from the liver transplant surgeries performed since beginning of COVID pandemic.Recognized as having one of the world’s largest dedicated liver intensive care unit. Rela Hospital spearheads clinical innovations in paediatric and adult liver transplantation. The surgical outcomes at 99.2% is a testament to its preeminent position. According to National centre for Biotechnology information (NCBI Report), India records close to…

New Delhi: Industry has praised Union Finance Minister Nirmala Sitharaman for the General Budget 2021-22 presented in Parliament on Monday, saying it is an extraordinary, clear and holistic document. FICCI said exceptionalPresident of the Indian Federation of Commerce and Industry (FICCI), Uday Shankar said that the Union Budget for FY 2021-22 is exceptional and clear-sighted with provisions for accelerating economic growth and employment. This budget will strengthen the foundation of self-sufficient India. budget is going to give a boost to the economy:ASSOCHAMChairman of the Board of Commerce and Industry of India (ASSOCHAM) Vineet Aggarwal said that this budget is going…

Chennai: Sitharaman also announced that senior citizens above 75 years of age having only pension and interest income would not be required to file income tax returns. Finance Minister Nirmala Sitharaman on Monday reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years. In her Budget speech for 2021-22, Sitharaman also announced that senior citizens above 75 years of age having only pension and interest income would not be required to file…

New Delhi: The first general budget of this decade was presented in the House by Finance Minister Nirmala Sitharaman on 1 February. The Finance Minister made several big announcements while presenting the Budget 2020-21. On one hand, the government announced Rs 64,180 crore to promote health infrastructure. At the same time, now the government is going to sell its stake in many government sectors. The Modi government has also proposed to privatize two banks. At the same time, the government is also going to sell the stake of the insurance company. Political debate has intensified regarding this. Other opposition parties…

Mumbai: The BSE Sensex on Monday posted massive gains of 2314.84 pts to end strong at 48,600.61 pts as investors gave thumbs up to the Union Budget presented in Parliament by the Union Finance Minister Nirmala Sitharaman. The Nifty too rallied by 646.60 pts to 14,281.20. The day opened on a positive note at 46,617.95, up by 332 pts. After budget, it was soar nearly 2479 pts to 48,764.40, days high before closing at 48,600.61, advancing by 2314.84 pts from its previous close. The Sensex registered days high and low at 48,764.40 and 46,433.65 pts respectively. The Nifty recorded days…

New Delhi: Finance Minister Nirmala Sitharaman has targetted the fiscal deficit at 6.8 per cent of the gross domestic product (GDP) in the next financial year beginning April 1, 2021. Interestingly, the fiscal deficit in 2020-21 is estimated to reach as much as 9.5 per cent, thanks to a bloated expenditure bill arising on account of the outbreak of COVID-19 and moderation in revenue during this fiscal year. The lockdown of the few months beginning in the month of March 2021 to check the spread of the corona virus adversely impacted economic activity in the country, which led to revenue…

New Delhi: The hiking of the FDI limit in the life insurance business from 49 per cent to 74 per cent is a bold move. Mr. Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company says: “The imperativeness of the Life Insurance sector in the economy has gained paramount importance in the aftermath of Covid and has reinforced the need for wider penetration of insurance in terms of protection and building a safety net. Budget 2022 has indeed taken cognizance of this and has taken the bold step of increasing the FDI limit to 74% from the incumbent…

New Delhi: On imports of semi-, flat and long materials of non-alloy, alloy and stainless steel, the government has decided to cut customs duty to 7.5 percent, Finance Minister Nirmala Sitharaman stated in her Budget 2021 statement on February 1. Until March 2022, the government removed duty on steel scrap. On copper scrap, FM Sitharaman also cut the taxes, lowering it to 2.5 percent. Smaller firms and those that recycle will support this. A new significant rise in iron and steel prices has affected MSMEs and other consumer sectors badly. Consequently, on quarter-finals, straight, and long items of non-alloy, alloy,…

New Delhi: Finance Minister Nirmala Sitharaman has made a provision of Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22. “We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year,” said the Finance Minister said while presenting the Union Budget in the Parliament. The investment in MSMEs and the moratorium on loans of up to 2 crores will also play a crucial role in for the Indian corporates. Privatization of several government-related sectors…

New Delhi: Finance Minister Nirmala Sitharaman presented the budget in the Lok Sabha on Monday. After which Prime Minister Narendra Modi gave his response on the general budget. PM Modi said that this budget is a budget to highlight the confidence of the new India. The budget will bring changes in the infrastructure of the country, as well as work to give many opportunities to the youth. PM Modi said that there are villages and farmers at the heart of this budget. PM Modi said that such budgets are rarely seen, which received good response in the beginning. Regarding the…

New Delhi: Agricultural cess has been imposed on petrol and diesel. Agricultural cess of Rs 2.50 per liter on petrol and Rs 4 per liter on diesel has been imposed. However, this will not affect the customers. It is believed that the government is trying to extract the profits made during the Corona period from the pockets of the oil companies. With the imposition of agricultural cess on petrol and diesel, the basic excise duty (BED) and special additional excise duty (SAED) have been reduced. Due to this, the burden of agricultural cess will not be passed on to the…

New Delhi: Finance Minister Nirmala Sitharaman has presented her budget. The Finance Minister has increased the import duty on mobile phones and chargers imported from abroad in the budget. This can soon see an increase in their prices. Apart from this, in the budget, discounts have been given on import of gold and silver by offering women. In such a situation, gold and silver can be cheap. At the same time, products related to steel and copper can also be cheap. Apart from this, auto parts imported from abroad will also become expensive. Announcing in the budget, the Finance Minister…

New Delhi: Finance Minister Nirmala Sitaraman has hiked the basic customs duty on the import of sub-parts of the mobile phones and battery chargers from zero to 2.5% for the fiscal year 2021 – 2022. The FM did not mention the price impact as the details are yet to be announced. During her budget speech, Nirmala Sitharaman said that “for greater value addition we are withdrawing a few exemptions on parts of chargers and sub-parts of mobiles. Further, some part of the mobile will move from nil rate to a moderate 2.5%. So far, the battery charges will attract 15%…

New Delhi: Finance Minister Nirmala Sitharaman presented the budget for FY 2021-22. In the budget, the government’s focus was on boosting the economy through health, infrastructure and reform. The Finance Minister has increased the health budget. The Finance Minister has taken the initiative to give relief to the industry by not imposing any new tax. The government has announced to increase government spending irrespective of the fiscal deficit. The government has given the taxpayer the right to choose the option to pay tax under the new tax regime or old tax regime. Personal tax payers are not being given any…

In her Union Budget 2021 speech, Finance Minister Nirmala Sitharaman announced voluntary vehicle scrapping policy for incentivising vehicle owners to change their older vehicles for new ones. For vehicles there shall be conducted fitness test, which is 20 years for passenger vehicles and 15 years for commercial vehicles. The Ministry of Road, Transport, and Highways will give details on the policy. As per the views of Saket Mehra, Partner, Grant Thornton Bharat LLP, ” Fitness testing for both PVs and CVs a positive move to create not only employment opportunities but a move that will ensure a cleaner environment as…

New Delhi: Finance Minister Nirmala Sitharaman is presenting the General Budget 2021 today. Instead of briefcases and bookkeeping, she is presenting the budget from the tablet. In addition to IDBI, the finance minister has spoken about the privatization of two public sector banks and one insurance company. In this budget, the government has given a lot of emphasis on the health sector and infrastructure, the budget of the health sector has been increased from 94,000 crore to 2.38 lakh crore. At the same time, many big announcements have been made regarding roads and highways. The Finance Minister said that this…

New Delhi: Finance Minister Nirmala Sitharaman is presenting the General Budget 2021 today. Instead of briefcases and bookkeeping, she is presenting the budget from the tablet. Slogans are being raised during the speech of the Finance Minister in Parliament. This is the first budget after the Coronation period. Let us know that ordinary people have a lot of expectations from this budget. In this budget, the government has given a lot of emphasis on the health sector and infrastructure, the budget of the health sector has been increased from 94,000 crore to 2.38 lakh crore. At the same time, many…

New Delhi: Finance Minister Nirmala Sitharaman on Monday provided Rs 35,000 crore towards COVID-19 vaccination in 2021-22 fiscal. “I have provided Rs 35,000 crore for COVID-19 vaccine in this year 2021-22. I’m committed to providing further funds if required. The Budget outlay for health and well being is Rs 2.23 lakh crore in 2021-22 as against BE of Rs 94,452 crore and marks an increase of 137 per cent,” she said while presenting 2021-22 Budget in the Lok Sabha. India had earlier in January approved two vaccines — Oxford’s Covishield manufactured by SII and Bharat Biotech’s Covaxin — for restricted…