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The survey covers over-regulation in the Indian economy. The survey dedicates a chapter to discuss India’s sovereign credit rating.

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Salient Features of Federal Budget 2020-21 - The Nation

Certain direct tax proposals were introduced, providing relaxation to individual taxpayers and startups to some extent. The individual and corporate tax rates for FY 2021-22 (AY 2021-23) was left unchanged. In a major move, the limit for tax audits under section 44AB has been increased from Rs 5 crore to Rs 10 crore (only where 95% of payments are digitised), providing relief to many corporate houses.

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Cabinet Approvals on August 19, 2020

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RM: Sunak claims this is the biggest level of infrastructure spend – on transport and broadband – in half a century. This is part of the Tories’ manifesto pledge to improve life for those outside London and other cities, which Boris Johnson calls “levelling up”. The challenge for the government will be to get any of these infrastructure projects actually done by the time of the next election if the party wants to keep its new voters.

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In this page, you can read all about what a budget is, and what to expect in the Union Budget 2020-21. It's not a huge leap, but it's still the best in. The United Kingdom summer budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 8 July This was the first fully Conservative budget since that presented by Kenneth Clarke in.

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The survey had called for more reforms for making it easier to do business in the country. It advises the use of privatisation to foster efficiency.

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RM: This is Sunak’s first tax-raising measure in the budget, with the rest giveaways so far. Entrepreneurs’ relief has been heavily criticised by thinktanks for costing far more than it did when it was introduced by Alistair Darling and extended by George Osborne. Targeted at bigger businesses, it is unlikely to cause too much rebellion or criticism from Tory backbenchers.

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Note: For this topic, instead of for and against points, students should present relevant points for the causes and solution for the topic. Wednesday, March 18, A pre-election Budget is a funny thing; it is a self-assured summary of all the things that government has achieved, a blatant pre-election appeal for votes, and has the potential to be a futile set of announcements should the government change shortly thereafter. Best Online Test series for CAT, SBI Clerk, SBI PO, IBPS clerk, SSC CGL, CHSL, Railways and other competitive Exams.

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PEN-20-051 was designed to test the gap between holes PEN-20-043 and PEN-20-045, intersected three zones of mineralization. The upper two zones occur with deformed and altered mafic volcanics and returned 0/37 g/t Au over 3/0 m and 1/89 g/t Au over 1/0 m. The third zone occurs in an intensely quartz-sericite altered felsic dike with quartz stockwork veining and 3-5% disseminated pyrite.

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The government has proposed a new income tax regime under Section 115BAC that comprises a significant change in the tax slabs rates. Taxpayers have been provided with an option whether they want to pay taxes according to the new regime or if they want to continue paying taxes according to the existing regime. However, a few taxpayers may not be able to switch back to the existing tax slab once they opt to follow the new one.

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Advance tax will henceforth be applicable on dividend income only after its declaration. Tax holidays are proposed for aircraft leasing and rental companies.

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The survey moves forward ideas like integrating “Assemble in India” into “Make In India” to focus on labour-intensive exports and thereby create jobs at large scale. It also discusses on efficiently scaling up the banking sector to be proportionate to the size of the Indian economy. Meanwhile, it also advises tracking the health of the shadow banking sector.

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Here is something for Delhiites! Sitharaman proposes Rs 4,400 crore to tackle Delhi’s air pollution problem. Last year, the Supreme Court had termed the situation as “worse than Emergency” as air quality dipped to hazardous levels.

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Capital funding of over €1/1 billion allocated to support delivery of 11,000 new social homes in 2021. A further 12,000 units will be delivered in 2021.

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Team up with a business related to your industry (but not a direct competitor) for a joint project. This can be done locally and offline through some kind of special event, or online (which could still be locally) with a webinar or promotional giveaway.

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Rowena Mason, political correspondent: Sunak focuses initially on the public health challenges of coronavirus but also wants people to remember that the government has other priorities, such as “levelling up” across the country. He will have a tough job getting anyone to focus on anything but the immediate crisis, though.

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The Economic Survey 2021-20 has given the emphasis on entrepreneurship and wealth creation at the grassroots. This message is reflected in Budget 2021 as well.

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FM Nirmala Sitharaman announces Rs 20,000 crore for renewable energy sector in a bid to tackle pollution and climate change. A new scheme of smart meters will be launched, says Sitharaman.

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RM: Sunak ducked the decision on raising fuel duty and is going after the “red diesel” tax relief for off-road fuel instead, as the government tries to show some green credentials in the year of COP26. Industry will not be too happy but the two-year delay could allay some concerns.

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RM: These are the party’s manifesto pledges on the NHS. There does not seem to be any specific extra price tag on dealing with coronavirus but the chancellor has previously promised to give the health service whatever it needs.

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Railways: 150 passenger trains through PPP mode. Additional Tejas type trains for tourist destinations.

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The affordable housing additional deduction was extended till 31st March 2021. The tax exemption has been granted for affordable rental projects.

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Deduction of Rs1/5 lakh for affordable housing announced earlier extended by one more year. Projects under affordable housing will get a tax holiday for one more year, but they need to get clearance by March 2021.

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RM: This is another policy that will be popular with backbench Tories who will enjoy boasting about it to constituents. It also shows Sunak is not tapping a traditional source of extra tax revenue that chancellors often turn to when they need extra cash.

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It has been proposed to exempt senior citizens from filing income tax returns if pension income and interest income are their only annual income source. Section 194P has been newly inserted to enforce the banks to deduct tax on senior citizens more than 75 years of age who have a pension and interest income from the bank.

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