Business

Startups and MSMEs termed the Budget as pro-growth and pro-technology and will usher in the digital payments era of the country.

Unveiling the Union Budget 2021-22, the Finance Minister said that a professionally managed DFI to be set up to provide, enable and catalyze infrastructure financing.

The high level of provisioning by public sector banks for their stressed assets calls for measures to clean up the bank books, the finance minister said while unveiling the Budget for 2021-22.

The announcement is important to enhance access to digital content to millions of Indian users who are witnessing a spurt in smartphone and Internet usage.

The 30-share BSE Sensex zoomed 2,314.84 points or 5 per cent to finish at 48,600.61.

However, in a major relief, senior citizens above 75 years of age are now exempted from filing tax returns.

Sawant has thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the allocation.

The Finance Minister began her Budget speech at 11 a.m. for the third time in the National Democratic Alliance (NDA) government led by Prime Minister Modi.

In a tweet after the Budget, he said, "Forget putting cash in the hands of people, Modi Govt plans to handover India's assets to his crony capitalist friends."

He said the entire focus of the budget was only on the electoral states. It seems to be more 'five electoral state budgets' than the Union Budget.

"Domestic electronic manufacturing has grown rapidly. We are now exporting items like mobiles and chargers," Sitharaman said.

"Four Indian astronauts are being trained in Russia. The first unmanned launch, the precursor to a manned mission, is scheduled for December 2021," Sitharaman said while presenting the Union Budget on Monday.

Sodexo's iconic digital meal benefit "Sodexo Meal Pass" will now be made available to 100,000 plus employees of Amazon in India

Damodar Kochkar, president of the Goa Small Industries Association said that the focus on infrastructure spending was a good sign for the small industries.

The customs duty on gold and silver was reduced to 7.5 per cent.

The vaccination scheme will help contain and lead the nation towards accomplishing a Covid-19 disease-free India.

The additional deduction of 1.5 lakh shall therefore be available for loans taken up to 31st March 2022, for the purchase of the affordable housing, Sitharaman said.

"At realme, we follow our philosophy dare to leap into the forefront of innovation, design and product value, which is something that young people can resonate," Madhav Sheth, Vice President, Realme and CEO, Realme India and Europe, sai

itel A47 comes packed with superior technological features like a big HD+ FullScreen display, curved edges for solid in-hand feel, dual security features and a bigger battery for uninterrupted digital entertainment and connectivity.

At the interbank forex market, the domestic unit opened at 72.89 against the US dollar, then inched higher to 72.88, registering a rise of 8 paise over its previous close.

Qualcomm, MediaTek, HiSilicon, Samsung LSI and Intel captured the top-five cellular baseband revenue share spots in Q3 2020, according to the report by market research firm Strategy Analytics.

Finance Minister Nirmala Sitharaman said there has been a manifold increase in digital payments in the recent past.

Sitharaman, who was giving her 2021-22 Budget Speech, started off by giving a special shout out to what the Indian team under the leadership of Ajinkya Rahane managed to achieve Down Under.

"For accessible higher education in Ladakh. I propose to set up a central university in Leh," said Sitharaman while presenting the Budget in the Parliament.