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IndiaTV Business: Google News Feed: Digest for July 12, 2024

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The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
ITR filing 2024: Whether you are a salaried employee or a business owner, you must file your income tax return by the due date. The last date for filing the Income Tax Return (ITR) is July 31. Experts advise that no taxpayer should wait until the last date to file their return. Filing early allows you time to minimise errors. You can file the return online either with the assistance of a chartered accountant or on your own. If you decide to do it yourself, the process has become quite easy. You need to file the return through the Income Tax Department's website. Here's a step-by-step guide to filing ITR online.
Union Budget 2024: Prime Minister Narendra Modi is set to meet with eminent economists on Thursday to gather their views and suggestions for the upcoming Budget. In addition to economists and sectoral experts, the meeting will also be attended by Niti Aayog Vice Chairman Suman Bery and other members, news agency PTI reported citing a government official. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. This Budget will be the first major economic document of the Modi 3.0 government and is expected to outline a roadmap for making India a developed nation by 2047.
Budget 2024: To boost domestic and inbound tourism, the travel and tourism industry has requested the government to consider a uniform 12 per cent GST rate on hotels in the upcoming Budget for 2024-2025. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. 
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
ITR filing 2024: Whether you are a salaried employee or a business owner, you must file your income tax return by the due date. The last date for filing the Income Tax Return (ITR) is July 31. Experts advise that no taxpayer should wait until the last date to file their return. Filing early allows you time to minimise errors. You can file the return online either with the assistance of a chartered accountant or on your own. If you decide to do it yourself, the process has become quite easy. You need to file the return through the Income Tax Department's website. Here's a step-by-step guide to filing ITR online.
Union Budget 2024: Prime Minister Narendra Modi held a meeting with eminent economists on Thursday to gather their views and suggestions for the upcoming Budget. In addition to economists and sectoral experts, the meeting was also attended by Niti Aayog Vice Chairman Suman Bery and other members. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. This Budget will be the first major economic document of the Modi 3.0 government and is expected to outline a roadmap for making India a developed nation by 2047.
Budget 2024: To boost domestic and inbound tourism, the travel and tourism industry has requested the government to consider a uniform 12 per cent GST rate on hotels in the upcoming Budget for 2024-2025. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. 
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
The equity benchmark indices saw minimal changes, with the Sensex falling by 27 points to end at 79,897 and the Nifty decreasing by 8.50 points to close at 24,316. From the Sensex basket, Tata Motors, ITC, Kotak Mahindra Bank, Tata Consultancy Services, Asian Paints, and State Bank of India were the major gainers. Conversely, Bajaj Finance, NTPC, Nestle India, Sun Pharmaceutical Industries, Mahindra & Mahindra, and Larsen & Toubro were the biggest laggards.
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
ITR filing 2024: Whether you are a salaried employee or a business owner, you must file your income tax return by the due date. The last date for filing the Income Tax Return (ITR) is July 31. Experts advise that no taxpayer should wait until the last date to file their return. Filing early allows you time to minimise errors. You can file the return online either with the assistance of a chartered accountant or on your own. If you decide to do it yourself, the process has become quite easy. You need to file the return through the Income Tax Department's website. Here's a step-by-step guide to filing ITR online.
Union Budget 2024: Prime Minister Narendra Modi held a meeting with eminent economists on Thursday to gather their views and suggestions for the upcoming Budget. In addition to economists and sectoral experts, the meeting was also attended by Niti Aayog Vice Chairman Suman Bery and other members. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. This Budget will be the first major economic document of the Modi 3.0 government and is expected to outline a roadmap for making India a developed nation by 2047.
Budget 2024: To boost domestic and inbound tourism, the travel and tourism industry has requested the government to consider a uniform 12 per cent GST rate on hotels in the upcoming Budget for 2024-2025. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. 
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
The equity benchmark indices saw minimal changes, with the Sensex falling by 27 points to end at 79,897 and the Nifty decreasing by 8.50 points to close at 24,316. From the Sensex basket, Tata Motors, ITC, Kotak Mahindra Bank, Tata Consultancy Services, Asian Paints, and State Bank of India were the major gainers. Conversely, Bajaj Finance, NTPC, Nestle India, Sun Pharmaceutical Industries, Mahindra & Mahindra, and Larsen & Toubro were the biggest laggards.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
ITR filing 2024: Whether you are a salaried employee or a business owner, you must file your income tax return by the due date. The last date for filing the Income Tax Return (ITR) is July 31. Experts advise that no taxpayer should wait until the last date to file their return. Filing early allows you time to minimise errors. You can file the return online either with the assistance of a chartered accountant or on your own. If you decide to do it yourself, the process has become quite easy. You need to file the return through the Income Tax Department's website. Here's a step-by-step guide to filing ITR online.
Union Budget 2024: Prime Minister Narendra Modi held a meeting with eminent economists on Thursday to gather their views and suggestions for the upcoming Budget. In addition to economists and sectoral experts, the meeting was also attended by Niti Aayog Vice Chairman Suman Bery and other members. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. This Budget will be the first major economic document of the Modi 3.0 government and is expected to outline a roadmap for making India a developed nation by 2047.
Budget 2024: To boost domestic and inbound tourism, the travel and tourism industry has requested the government to consider a uniform 12 per cent GST rate on hotels in the upcoming Budget for 2024-2025. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. 
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
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