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Budget session to begin on Jan 31; Union Budget to be tabled on Feb 1

The government is likely to consider functioning of the Lok Sabha and the Rajya Sabha in shifts during the upcoming Budget session. ....

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Why has India asked ADB and AIIB for covid-19 vaccine loans? — Quartz India

India is estimated to have spent close to $2.54 billion towards buying around a billion vaccine doses till now. ....

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Will India's car scrapping policy help auto firms, environment — Quartz India

February 16, 2021
In an attempt to save India’s shrinking economy, the Narendra Modi government has taken a leaf out of the playbook that several countries used to battle the 2008 global financial crisis. But for the trick to really work, the move must be localised to India instead of a blind copy-paste of the West.
In the union budget for 2021-22 (April-March), Indian finance minister Nirmala Sitharaman introduced a voluntary vehicle scrapping policy. Under this, cars older than 20 years and commercial vehicles older than 15 years will be phased out from the roads. These vehicles will need to undergo a test at automated centres to determine whether they are fit for driving or need to be scrapped, Sitharaman said in her budget speech (pdf) on Feb. 1, without further details. ....

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Sanjaya Baru | Nirmala's Budget made a virtue out of necessity

Declaring boldly to Parliament a fiscal deficit ratio to national income of 9.5%, the finance minister made a virtue out of necessity ....

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Budget 2021: India notifies about concessions to its citizens living in Gulf, abroad

Budget 2021: India notifies about concessions to its citizens living in Gulf, abroad
Wam/New Delhi
(Wam)
The concession is expected to benefit a large number of Indians living in the Gulf.
India has formally notified a major economic concession to its citizens living abroad, allowing them to set up one person companies (OPCs) in their home country. Until now, the facility was available only for those living in India.
The concession is expected to benefit a large number of Indians living in the Gulf, which has the highest number of non-resident Indians (NRIs). These Gulf-resident Indians will now be able to better plan their future for a day when their overseas work or contracts end and they have to leave their countries of limited residence to return home. ....

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