NDTV Profit’s Post

#GovernorToCNBCTV18 | RBI Guv #ShaktikantaDas says ₹2.1 Lakh Cr surplus payout to Govt is not excessive, is entirely formula driven and is not linked to #Budget expectations Read: https://lnkd.in/gP76gcUd Vijay Anand #GovernorToCNBCTV18 #RBIGovernor #RBIGovernorExclusive #CNBCTV18Exclusive #ShaktikantaDasToCNBCTV18

Conservative, Credible and Commendable With close to 3 lakh cr additional buffer (higher cash balance end of Fy24 and extra RBI dividend), the govt showed remarkable constraint to cap expenditure increase to below 60k vis a vis the interim budget. This in an environment where they had to manage diverse expectations and political realities. The primary deficit is now at near 1.5%, a 5 year low and near pre pandemic levels. Further, a 1.5% fiscal consolidation has been achieved in a short span of 2 years. Yes revenue buoyancy and non tax revenue has helped, but the intent is very clear. Nothing short of commendable. Pure textbook approach to retrace when the going is good. Tbill delta of 1 lakh crs vs interim, gross borrowing lower by 1.4 lakh cr vs FY24. The RBI may take lead from this remarkable restraint. Should augur well for fixed income.

For NRIs, understanding tax implications on investments is crucial. Equity-oriented funds incur a 10% tax rate on LTCG exceeding the Rs. 1 lakh exemption limit, without indexation benefits. STCG on equity-oriented funds carries a 15% tax rate. Debt funds for NRIs are taxed differently. Debt mutual funds held for less than three years are considered short term and taxed at 30% on capital gains added to the NRI's income. NRIs can leverage exemptions under Sections 54, 54EC, and 54F on long-term capital gains. These provisions allow NRIs to claim exemptions when filing returns and seek refunds for TDS deducted from Capital Gains. Understanding these tax intricacies is vital for NRIs exploring investment opportunities. #tax #NRIs #investment #capitalgains

#BudgetKiBaat #Budget2025 Fiscal consolidation glide path continues - estimated at 4.8% for FY 25 & 4.4% for FY26. Rs 11.54 lakh crore net market borrowing against expectation- 11.63 lakhs. 14.82 lakh crore gross market borrowing against expectation - 14.01 lakhs. Good for bond markets.

GST collections hit a record ₹2.10 lakh crore in April, up 12.4% YoY. Watch the video for more details. #miraeassetmutualfund #miraeasset #mutualfund #GST #GoodsServicesTax #investment #InvestmentOpportunities #Economy #RBI #ReserveBankOfIndia #GDP #GrossDomesticProduct #Diversify #Portfolio #stayinvested #assets #investor #financialplanning #goals

GST collections hit a record ₹2.10 lakh crore in April, up 12.4% YoY. Watch the video for more details. #miraeassetmutualfund #miraeasset #mutualfund #GST #GoodsServicesTax #investment #InvestmentOpportunities #Economy #RBI #ReserveBankOfIndia #GDP #GrossDomesticProduct #Diversify #Portfolio #stayinvested #assets #investor #financialplanning #goals

Budget 2025: AMFI Pushes for Old Capital Gains Tax Norms; Check Key Proposals for Investors AMFI: As the budget day nears, industry players and investors are expecting some relief in the tax proposals on debt funds. Check out the entire budget wishlist https://lnkd.in/dPHUz-3e #india #investing #capitalgains #amfi #budget

Windfall for Government as RBI Transfers Record Rs 2.1 Trillion for FY24 The Reserve Bank of India (RBI) has announced a record surplus transfer of Rs 2.11 trillion to the government for the fiscal year 2023-24 (FY24). This decision came after a central board meeting held on Wednesday, where it was also decided to increase the contingency buffer to 6.5 percent. Key Highlights: Record Surplus: The transferred amount is more than double the budgeted figure for dividends from the RBI and other public-sector undertakings (PSUs), significantly higher than the Rs 87,416 crore transferred in FY23. Historical Context: The transfer surpasses the previous high of Rs 1.76 trillion transferred in FY19, post the implementation of the new economic capital framework (ECF) recommended by the Bimal Jalan Committee. - Contingency Buffer: The RBI increased the contingency risk buffer (CRB) to 6.5 percent from the previous 6 percent, the upper limit of the range suggested by the Jalan Committee. - Higher Income: The larger surplus is attributed to increased income from both domestic and foreign assets, enhancing the RBI’s profitability. - Fiscal Benefits: Finance Secretary T V Somanathan remarked that the surplus transfer would improve the government's fiscal position, providing more room for revenue and expenditure management. Economic Impact: - Boost to Fiscal Envelope: Economists, including Aditi Nayar of ICRA, suggest that the higher-than-expected surplus will enhance the government's resource envelope for FY25, allowing for greater fiscal flexibility. - Capex Funding: Increased funds for capital expenditure could improve the quality of the fiscal deficit, though timely utilization of these funds within the remaining fiscal period could pose challenges. Governance and Oversight: - Board Meeting: The board meeting, chaired by Governor Shaktikanta Das, included all four deputy governors, government nominees, and other members. The meeting reviewed global and domestic economic scenarios, discussed risks, and approved the RBI’s annual report and financial statements for FY24. - Public Remarks: Anand Mahindra, Mahindra Group Chairman, highlighted the significance of declaring the record amount after enhancing the contingency buffer, reflecting the RBI’s robust financial management. This surplus transfer marks a significant fiscal development, underscoring the RBI’s crucial role in supporting the government's economic strategy through substantial financial contributions. Here are some relevant hashtags you can use for social media posts about the RBI's record surplus transfer: #RBIDividend  #IndianEconomy  #FiscalPolicy  #CentralBank   #EconomicGrowth  #FinanceNews  #GovernmentRevenue  #EconomicCapitalFramework  #FinancialStability  #FiscalDeficit  #Capex  #RBIUpdates  #FiscalManagement  #EconomicResilience   #IndiaGrowthStory

RBI opened treasury for the government, broke record in giving dividend #Government #treasury #broke #dividend #DividendpaidbyRBItotheGovernmentyearwise #giving #opened #RBI #rbidividendpayment #RBIdividendpaymenttogovernment #RBIdividendpaymenttothegovernment #RBIDividendPayout #RBIDividendPayoutonGovernmentCalculator #rbishareprice #record #ReserveBankofIndia

The Reserve Bank of India (RBI) today released the Report on Municipal Finances which has a theme of “Own Sources of Revenue Generation in Municipal Corporations: Opportunities and Challenges”. The report presents an analysis of the budgetary data for 232 municipal corporations, which covers more than 90 per cent of total municipal corporations in the country. The analysis in this Report has been widened to cover more municipal corporations and strengthened with findings from a primary survey of municipal corporations on property taxes, a significant revenue source for the corporations. The key highlights of the Report are: * While the revenue account of the municipal corporations has remained in surplus, their heavy reliance on transfers and grants from the upper tiers of the government continues. * The own source revenues are not adequate for meeting the revenue expenditure for most of the corporations, which can affect their functional and financial autonomy. * Property tax revenues of MCs would benefit from initiatives such as adoption of Geographic Information System (GIS) mapping, digital payment systems, dynamic valuation systems, and better monitoring to plug leakages. Full Release: https://lnkd.in/d-7J5dWP Report: https://lnkd.in/d5XR9vGt