FY20 tax revenue estimate to be cut Economic slowdown and reduction in corporation tax rates will require the government to trim its tax revenue projection for 2019-20 in the upcoming Budget by Rs 1-1.5 trillion, the biggest seen in recent times to arrive at a realistic target. Read here Economic Survey to be tabled today
The government will release the Economic Survey for 2019-20 today, a day before Finance Minister Nirmala Sitharaman presents the Union Budget 2020-21. Read here RBI nod to Kotak Bank promoters’ plan to cap voting rights Private sector lender Kotak Mahindra Bank on Thursday said that the Reserve Bank of India (RBI) had given in-principle approval to its proposal on stake reduction in the bank and capping the promoters’ voting rights. Read here After decades, Rahul Bajaj steps down After several decades at the helm, Bajaj group patriarch Rahul Bajaj will step down as chairman of the holding company, Bajaj Holdings & Investments, Bajaj Auto, and Bajaj Finserv. Read here India Inc gears for Brexit Indian companies which have a significant presence in the United Kingdom are preparing for Britain’s exit from the European Union on Friday by cutting jobs and relocating plants and staff. Read here Bajaj Auto Q3 results Two-wheeler major Bajaj Auto put up a better-than-expected performance in the December quarter, driven by an uptick in exports, favourable exchange rates, and better product mix. Read here Budget wishlist Long-term capital gains Industry players expect the government to exempt tax on long -term capital gains (LTCG) arising on sale of listed equity shares. Read here Gold demand in India down 18% in Q3 Gold demand in India in the December quarter dropped 18 per cent over the same period in the previous year to an eight-year low of 194.3 tonnes, said the World Gold Council (WGC) in its 2019 Gold Demand Trend Report. Read here Bank Deposit Cover may be Doubled to Rs 2 Lakh The government is discussing a proposal to double the insurance cover on bank deposits to Rs 2 lakh and an announcement to this effect may be made in the February 1 budget, said several people with knowledge of the matter, reports the Economic Times. Indian Control Clause for Insurance may go The Centre is likely to drop the clause that mandates control of insurance companies by Indian promoters as it seeks to enhance foreign direct investment (FDI) limit in the industry to 74 per cent from 49 per cent according to the Economic Times
Source: Business Standard
