Page-2 of Union Budget Current Affairs, GK & News

COVID-19: Hike in Dearness Allowance for the year 2021 put on hold

The Government of India on April 23, 2020, put on hold to the hike in dearness allowance. This is being done by the union government to save Rs 1 lakh crore. Highlights The hold in the hike of dearness allowance applies only to central government employees and pensioners. Currently, the central government employees are receiving ..

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RBI and Finance Ministry to meet to decide on First Half Borrowing Plan

The Finance Ministry and the Reserve Bank of India is to hold a meeting on March 31, 2020 to discuss about the first half borrowing plan for the year 2020-21. For the first time in Indian history, the meeting is to be held through video conferencing. The Plan According to the Union Budget 2020-21, the ..

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Budget Allocation to fight Corona: Odisha, Tamil Nadu allocated funds

The US Government recently allocated 100 billion USD to fight Corona Virus. Following the US, UK had announced 400 billion USD to be allocated for Corona Virus. Ranked the fifth largest economy in the world with a GDP of 2.94 trillion USD, overtaking UK, India is yet to allocate funds for Corona Virus. However, the ..

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Parliament passed Direct Tax Vivad Se Viswas Bill, 2020

On March 14, 2020, Parliament passed the Direct Tax Vivad Se Viswas Bill, 2020. The bill aims to reduce the number of litigation that are associated with direct tax payments. The Direct Tax Vivad Se Viswas concept was introduced by the Finance Minister Nirmala Sitaraman during the Union Budget 2020-21. Key Features of the bill ..

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DPIIT notifies 100% Foreign Direct Investment in Insurance Intermediaries

The Department for Promotion of Industry and Internal Trade (DPIIT) operating under Ministry of Commerce and Trade has amended the FDI (Foreign Direct Policy) to allow 100% foreign investment for insurance intermediaries. This includes insurance companies, third party administrators, insurance brooking, loss assessors and surveyors. Highlights Initially DPIIT had allowed only 49% of FDI in ..

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