• Budget gives New Pension System a boost

    The Budget 2011-12 has made the New Pension System more attractive. It has made two rule changes which will help both individuals and their employers. The NPS is the pension system applicable to new government employees and is also open to all citizens, to save for their retirement, and is run as per the regulations of the Pension Fund Regulatory and Development Authority.

  • IPOs get a new anchor

    Securities Exchange Board of India (Sebi) has amended the public issue guidelines on a few fronts to allow anchor investors in public issues. These are the people who will stick their neck out in an issue to take a big chunk at a predetermined price.
    Here are the changes:|
     

  • Highlights of the Union Budget 2009-10: Part Two

    India’s tax-gdp ratio has improved from 9.2% in 2003-04 to 11.5% in 2008-09. The government wishes to simplify the tax structure. A new direct tax code will be released for public comments within 45 days and the new code will be finalised during the winter session of parliament. A Goods and Services Tax to be introduced from April 2010, but will comprise of a Central GST and a State GST.
     
    Direct Taxes

    Individual

  • Highlights of the Union Budget 2009-10: Part One

    These are some of the highlights from the speech given by the Finance Minister Pranab Mukherjee, presenting the Budget in parliament. Part One deals with the state of the economy and key policy announcements while the second part will deal with tax proposals.

  • Provident Fund interest in 2009-10 will be 8.5%

    Private sector employees have an annual pastime, speculate on how much interest their provident fund balances will earn. This year, they know it at the beginning of the year itself. They have been given some good news, ahead of the budget. The Central Board of Trustees (CBT) has recommended to the government, to continue with last year’s interest rate. They will get an interest rate of 8.5% on their provident fund balances.

  • Funds become costlier, demand will get hit

    Indian companies would have expected some action from the RBI to hike lending rates, but the pace of change must have left them worried. The RBI has hiked the repo rate –the rate at which RBI lends in the interbank market- by 50 basis points to 8.5% and has hiked the cash reserve ratio –the portion of deposits kept in reserve by banks- also by 50 basis points.
     

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