Great Of India News – 02.02.2017

Ø  Govt to build 2 crude oil storages in Odisha, Rajasthan

Ø  Global uncertainty to impact emerging economies: FM
Ø  Tax rate for lowest income slab slashed to 5%
Ø  PE funds, Esops face STT googly on unlisted shares
Ø  Govt halves revenue estimate from telecom
Ø  5% TDS on rent over Rs 50k a mnth proposed in budget
Ø  Govt aims to bring 1 cr families out of poverty by 2019

Business Standard

Ø  Factory activity returns to modest growth in January: Nikkei PMI
Ø  US Fed holds interest rates steady, remains upbeat on economy
Ø  Maruti Suzuki India sales jump 27.1% to 1,44,396 units in January
Ø  Ponzi scheme frauds to be curbed with new law soon
Ø  Govt to reduce time for revising tax return to 12 months
Ø  Centre lifts subsidy on distribution of sugar via PDS, onus now on states

Business Line

Ø  Gujarat top beneficiary of LNG customs duty cut
Ø  Start-ups can avail of 3-year tax holiday in a block of 7 years
Ø  Only 76 lakh Indians showed income of over Rs 5 lakh: Jaitley
Ø  Record Rs 3.96 lakh cr allocation for infrastructure to spur growth
Ø  Tata Motors sales dip 1% to 46,349 units in January
Ø  OFC of 1,55,000 km laid under BharatNet project


Ø  RBI says it hasn’t authorised use of Bitcoins, flags risks
Ø  Union Budget 2017 gives clues about currency notes deposited back in banks
Ø  Budget 2017: Arun Jaitley proposes plan to merge state firms to create global oil major
Ø  Union Budget 2017: Relief from indirect transfer provisions for foreign investors
Ø  Apple weighs legal action on Donald Trump’s immigration order, says report

Financial Express

Ø  Union Budget 2017: Auto, PSU stocks gain ahead of Budget boost to rural incomes
Ø  Government to amend Negotiable Instrument Act to deal with cheque bounce cases
Ø  ‘Encouraging lower and middle class to invest in insurance, mutual funds, fixed deposits’
Ø  Union Budget 2017: Tax incentives to corporates to cost Rs 83,492 cr in FY17

Financial Chronicle

Ø  Stock markets hail Budget, Sensex rallies 486 points
Ø  Budget to have positive impact on job market: Experts
Ø  Govt waives basic custom duty on nickel
Ø  Govt to phase out tax sops on Rajiv Gandhi Equity Scheme
Ø  Fiscal deficit to be contained at 3.2% in FY18: Jaitley

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