India Budget 2021: TDS cut, remittance limit top NRI wish list
Dixit Jain/Dubai
Photo: PTI
Here s what taxes NRIs pay currently and what they are expecting from this budget.
As we approach the budget date, expectations from the Prime Minister Narendra Modi’s government seem to soar with every passing day. The budget is going to be different than before as for the first time it will be completely paperless in the wake of ongoing Covid-19.
Everyone has been facing tough time with current Covid-19 situation around the world, the businesses have suffered, job losses are plenty, household budgets have taken a turn. It can be said that this budget is going to be one of the most awaited budget as everyone hopes for a relief from the government.
Will budget sops help India reach $5t economy goal?
India will make a push for growth in the forthcoming budget next month. Photo: Reuters
India’s economy is expected to contract 7.7 per cent in the current financial year ending on March 31.
The Indian government’s aim to make the nation a $5 trillion economy did encounter loads of challenges in 2020, despite multiple stimulus and sops to pare the impact of the novel coronavirus disease (Covid-19) outbreak to propel the economy towards growth.
Non-resident Indians (NRIs) globally have moved back home for multiple reasons and are now trying to find some foot in their bid to rehabilitate themselves. The trend did impact the real estate sector positively. Timely government intervention to keep lending rates at lowest, coupled with reduction in stamp duty, encouraged many developers to offer flexible payment plans.
At 18 million, India has the world s largest diaspora population
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Last Updated: Jan 15, 2021, 10:31 PM IST
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A UN report said the spatial distribution of transnational populations varies greatly and India s diaspora, the largest in the world, is distributed across a number of major countries of destination.
India s large diaspora is distributed across the UAE (3.5 million), the US (2.7 million) and Saudi Arabia (2.5 million).
United Nations: India has the largest diaspora population in the world with 18 million people from the country living outside their homeland in 2020, according to a report by the United Nations, which says the UAE, the US and Saudi Arabia host the largest number of migrants from India.
Jan 12, 2021, 12:20 IST
Andhra Pradesh Non-Resident Telugu Society (APNRTS) nominated Sathwik Reddy Gogulamudi as the “Regional Coordinator’ in the USA. Sathwik Gogulamudi originally hails from Nuzivudu, Krishna district, but now lives at Enola in the state of Pennsylvania.
Speaking on the occasion, Sathvik thanked AP Chief Minister YS Jagan Mohan Reddy and APNRTS President Venkat S Medapati, for being nominated. As a Regional Coordinator of APNRTS Sathvik said the he would serve in promotion of AP IT&E and Industrial policy benefits as well as facilitate the processes for the NRIs who are interested to invest in AP’s economy and job creation or want to become a part of socio economic development of AP.
Undeterred by pandemic, Kerala NRIs venture into e-commerce space to sell seafood
January 11, 2021
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According to promoters, the Dilmart is being modelled after the famed Indian Coffee House, where shareholders also work.
Job loss or salary cuts during the pandemic situation have not deterred 30 gulf returnees from starting a new business venture in Kerala. Hailing from various parts of the State, these NRI’s has launched a chain of fish and meat retail stores called Dilmart.
In the first phase, they have opened five stores in Kottakkal in Malappuram, Chalakudy in Thrissur, Thumbaman in Patthanamthitta, Kundara in Kollam and Varkala in Thiruvananthapuram. Another ten will be opened in three months and to take the total number to 40 in one year, said Cyril Antony and Anil K Prasad, founder directors of the company. Through its e-commerce site www.dilmart.in, the chain has also started entertaining online orders for home deliveries.