Business

Creation of global-sized banks through consolidation will facilitate the Narendra Modi government's resolve to make India a USD 5 trillion economy by 2024-25, the Union minister said.

The impact of the coronavirus on the oil market remains largely a Chinese demand story with weakening jet fuel demand and economic run cuts, RBC Capital Markets analysts said.

The calculator takes into account eligible exemptions and deductions, as proposed under the new regime, after being extracted from the Budget memorandum 2020.

The experts said port authorities should follow properly all the protocols related with sanitary (related to animals) standards.

GAIL is India's biggest natural gas marketing and trading firm and owns more than 70 per cent of the country's 16,981-km pipeline network, giving it a stranglehold on the market.

ITC shares hit a low of Rs 205 apiece in intraday trade on Monday. At 11:47 am, the stock was trading at Rs 212.45, down 3%. Notably, the stock had fallen over 23% in the last one year.

For those earning a salary of Rs 12 lakh and less and availing deductions of up to Rs 2 lakh, the old tax system will be beneficial as the tax outgo will be less compared to the proposed new structure.

Swadeshi Jagran Manch leader Ashwani Mahajan said quality will be compromised with FDI in education, which seems to be an exploitative move. "We need to raise our own education standards by encouraging our institutes," he said.

Sitharaman said Rs 3.50 lakh crore capital had been infused in public sector banks in the past years. However, she acknowledged that there was a need for greater private capital in banks.

YSRC Parliamentary Party leader V Vijayasai Reddy said the budget was totally disappointing as the state got only an empty hand.

The Indian economy is demand-constrained and investment-starved, and the finance minister has not acknowledged these two challenges, Chidambaram said.

The government has utilised 'escape clause' under the Fiscal Responsibility and Budget Management (FRBM) Act which provides it leeway for relaxation of fiscal deficit roadmap during time of stress.

Singapore continued to be the largest source of FDI in India during the first half of the financial year with USD 8 billion investments.

Perishable goods like fruits, vegetables, dairy products, fish, meat need to be carried in such temperature controlled vans in order to travel long distances.

The fisheries sector gives gainful employment to as many as 14 million people in the country.

The Union Budget 2020 is classified into Revenue Budget and Capital Budget. While Revenue Budget includes the government’s revenue receipts and expenditure, Capital Budget includes capital receipts and payments of the government.