Political News

By Administrator_India, Capital Sands India is likely to fund roughly $28 billion of its expenditure outlay in its budget for fiscal 2020/21 via off-budget borrowings, three government sources said, as it seeks to revive a sagging economy while keeping its fiscal deficit in check. Prime Minister Narendra Modi’s government is under pressure to increase spending on rural welfare schemes and infrastructure to boost growth that has fallen for six straight quarters. Off-budget borrowings are a means by which the government keeps its fiscal deficit in check by making quasi-government entities borrow on its behalf, to partly fund its expenditure plan for the year. This would mark a roughly 13.8% increase in so-called off-budget borrowings from an estimated 1.75 trillion rupees ($2...

By Administrator_India, Capital Sands India stocks were higher after the close on Thursday, as gains in the Capital Goods, Real Estate and Oil & Gas sectors led shares higher. At the close in NSE, the Nifty 50 gained 0.61%, while the BSE Sensex 30 index climbed 0.66%. The best performers of the session on the Nifty 50 were Yes Bank Ltd , which rose 6.63% or 2.55 points to trade at 41.00 at the close. Meanwhile, Indian Oil Corporation Ltd added 5.85% or 6.65 points to end at 120.30 and GAIL Ltd  was up 2.82% or 3.55 points to 129.45 in late trade. The worst performers of the session were Zee Entertainment Enterprises Ltd. , which fell 7.21% or 21.65 points to trade at 278.70 at the close. UPL Ltd decli...

By Administrator_India, Capital Sands Malaysia’s top sugar refiner said it will increase purchases of the commodity from India, which according to two sources is part of efforts to placate New Delhi amid an ongoing spat over palm oil. MSM Malaysia Holdings Berhad will buy 130,000 tonnes of raw sugar from India in the first quarter, the company told Reuters. The company bought around 88,000 tonnes of raw sugar from India in 2019. The company did not cite the palm oil dispute as a reason for the increase in purchases. India, the world’s largest edible oil buyer, this month halted Malaysian palm oil imports in a move seen as retaliation to Malaysian prime minister’s comments criticizing New Delhi over its policy on Kashmir.

By  Administrator_India, Capital Sands With expectations of a significant income relief for the middle class rising, it appears Finance Minister Nirmala Sitharaman could meet them when she presents Union Budget 2020. Sources have told  that the 5 percent income tax slab may be relaxed from Rs 2.5 lakh-Rs 5 lakh currently to Rs 2.5 lakh to Rs 7 lakh. For income bracket from Rs 7 lakh to Rs 10 lakh, the tax proposed is 10  percent. For Rs 10 lakh to Rs 20 lakh bracket, 20 percent is proposed. For Rs 20 lakh to Rs 10 crore, the bracket may attract see 30 percent tax and for income of Rs 10 crore and above, the rate is likely to be 35 percent. If the above announcement comes through, it could result in large savings for the salaried. ...