Mutual Fund & Finance Minister

A mutual fund is a type of professionally-managed collective investment vehicle that pools money from many investors to purchase securities. The finance minister is a executive or cabinet position in a government. 0.7/5

Mutual Fund Finance Minister Rajiv Gandhi Economic Times

Finance Ministers of India since Independence R. K. Shanmukham Chetty R. K. Shanmukham Chetty He was the first Finance Minister of Independent India. The very first Budget was tabled on November 26, 1947. The Planning Commission was introduced during his tenure. January 1, 1949 — January 12, 1950 John Mathai Five-year plans were introduced during his tenure. He, however, resigned protesting against the increasing power of the Planning Commission. January 1, 1950 — January 1, 1957 C. D. Deshmukh He presented the first interim Budget for 1951-52. It during his tenure the NCAER, the National Council of Applied Economic Research, was established and he was a founding member of its Governing Body. January 1, 1957 — February 13, 1958 T. T. Krishnamachari He introduced the wealth tax and expenditure tax. NLC, IDBI, ICICI, and Damodar Valley Corporation were established during his tenure. He was the first minister to quit after his name surfaced in the Mundhra scandal, wherein his complicit involvement was ...
Highlights of this budget What has become more expensive: Phones above Rs 2000, cigarettes, eating out and SUVs. The Finance minister it must be remembered had announced a 6% tax hike on all mobile phones above Rs 2000. Taxation measures * Taxpayers in the bracket of Rs 2 to 5 lakhs to get a tax credit of Rs 2000. * 10% tax for people with annual incomes above Rs 1 crore. Only 42800 declarants with taxable annual income over Rs 1 crore in India, notes the Economic Times. * Income limit for the tax-saving Rajiv Gandhi Equity Savings Scheme is raised by Chidambaram to Rs 12 lakh from Rs 10 lakh. Further the Rajiv Gandhi scheme will be extended to mutual funds, he says, while stating that the scheme will be 'liberalised'. * Tax Deducted at Source (TDS) to be fixed at 1% on land deals over Rs 50 lakh, says the Finance Minister * Duty-free limits raised to Rs 50 for men and Rs 1 lakh for women. * Royalty tax hiked from 10% to 25%. * To increase surcharge to 10% on domestic companies with annual income of more ...
Hi Friends, Mr. Palaniappan Chidambaram, Finance Minister, today presented the 82nd Budget of the nation in the Parliament, and it was his 8thand last budget of this UPA 2 Government. This budget has nothing to cheer about especially for the individual taxpayers. Nevertheless, I have tried to sum up some of its provisions that have direct or indirect impact on the individual taxpayers. Before pointing out those points I would like to highlight that Mr FM has made elaborate provisions for spending on social sectors considering the general election next year. There is nothing wrong in spending over social sector. The fear is that there is a huge leakage in spending over social sector that has to be plucked to have the desired results. In fact, in the long run it will help the economy as well by generating demand for goods and services. Now, I come to some important features of the budget that are as follows: 1. The Introduction of inflation index bond is a very good initiative by FM for risk averse ret ...
UNION BUDGET 2013-14: FULL TEXT OF CHIDAMBARAM'S BUDGET SPEECH (post 1) Madam Speaker, I rise to present the Budget for the year 2013-14. 2. I recall my last tenure as Finance Minister and acknowledge with gratitude the splendid support that I received from all sections of the House as well as the people of India. Today, more than ever, I seek the same support as we navigate the Indian economy through a crisis that has enveloped the whole world and spared none. 3. I intend to keep my speech simple, straight forward and reasonably short. 4. I shall begin by setting the context. Global economic growth slowed from 3.9 percent in 2011 to 3.2 percent in 2012. India is part of the global economy: our exports and imports amount to 43 percent of GDP and two-way external sector transactions have risen to 108 percent of GDP. We are not unaffected by what happens in the rest of the world and our economy too has slowed after 2010-11. In the current year, the CSO has estimated growth at 5 percent while the RBI has est ...
DOMESTIC NEWS • RBI Deputy Governor says India's wide fiscal and current account deficits, and high inflation have been hurting economic growth. • Indian government’s indirect tax collections rose 17% to Rs 2.57 lakh cr in April- October period as against the annual growth target of 27%. • World Bank says India will receive record $70bn remittances in the year 2012, topping the list of developing countries which are expected to receive a total of $406bn this year. • Japan to give a fresh loan of about $2.26bn for the second phase of Dedicated Freight Corridor and an infrastructure project in Southern India. • Finance Minister asks banks to bail out builders, particularly those involved in construction of residential properties, in order to revive the economic growth. • Finance Ministry permits Life Insurance Corporation to invest up to 30% in a company as against the earlier ceiling of 10%. • Government to kick-start its divestment programme on November 23 with the sale of 4% stake in Hind ...
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