In a major blow to the liberal government of Canadian Prime Minister Justin Trudeau, his Deputy Prime Minister Chrystia Freeland has resigned following disagreements over economic policies and handling of trade relations with the US. This resignation comes at a crucial time as Trudeau's government is already facing internal divisions and a growing rift with the opposition party. With upcoming elections, this resignation adds to the mounting challenges for Trudeau and raises concerns about his leadership abilities.
Indian Prime Minister Narendra Modi held a productive meeting with leaders of Tata Sons and Powerchip Semiconductor Manufacturing Corporation (PSMC) about their ongoing semiconductor projects in Gujarat. PSMC expressed enthusiasm for expanding its presence in India, after Modi laid the foundation stones for three chip fabs earlier this year. Stay updated on all the latest business news and stock market updates, as well as ways to save money through our Personal Finance coverage, by subscribing to Zee Business on social media.
Sources have confirmed that there will be a third consecutive rate cut in the prices of petrol and high-speed diesel (HSD) starting September 1. This decision comes as a result of a decrease in crude prices in the global market, with $2 to $2.30 per barrel reduction seen in the last two weeks. The current price of crude oil is at $79 per barrel. The OGRA will review global crude oil prices on August 30 and submit a summary to the finance minister for price fixing. This news comes after the government reduced the prices of petrol and HSD by Rs8.47 and Rs6.70 per litre, respectively, in the last pricing review. It is estimated that there will be a total reduction of Rs14.64 and Rs17.56 per litre in petrol and HSD prices, respectively.
In her latest budget announcement, Nirmala Sitharaman has promised major tax reforms with the aim of providing relief to salaried individuals and pensioners. Key changes include an increased standard deduction, revised tax slabs, and the abolition of the controversial angel tax. These changes are expected to positively impact millions of taxpayers and make the tax process easier. Stay tuned for more updates on this developing story.
In a meeting with the Delhi State Civil Supplies Corporation, Food and Supplies Minister Imran Hussain warned of strict action against transporters who deliberately delay ration supply. He also instructed that all ration trucks must use GPS tracking devices and be covered with waterproof tarpaulin during the rainy season. The minister emphasized the availability of sufficient ration in Delhi and the fair distribution of free ration to beneficiaries under the National Food Security Act. Stay updated on the latest business news and market updates with Zee Business, and use the Income Tax Calculator for personal finance tips.
In a historic moment, Finance Minister Abul Hassan Mahmood Ali has revealed the proposed national budget of Tk 7,97,000 crore for the 2024-25 fiscal year, surpassing the current budget by Tk 35,215 crore. This is the first budget presented by the Awami League during their sixth term, and it comes at a time when inflation is at an alarming 10%. The Cabinet and Prime Minister Sheikh Hasina have already approved the proposed budget, with hopes to decrease inflation to 6.50%.
Finance Minister Nirmala Sitharaman took to Twitter to showcase the Modi government's achievements in transforming the Union Budget from a record of expenditures to a strategic blueprint for equitable development. Guided by Prime Minister Narendra Modi's vision of transparency and efficiency, the current regime has prioritized maximizing the value of taxpayers' money and improving the credibility of the budget over the past decade. Stay updated with the latest business news and stock market updates on Zee Business platforms.
Union Finance Minister Nirmala Sitharaman has joined the growing chorus of BJP leaders calling out Delhi Chief Minister Arvind Kejriwal over the Swati Maliwal assault controversy. During a press conference at the party's Delhi headquarters, she criticized Kejriwal for remaining silent and demanded an apology from him. Sitharaman also mentioned other instances of AAP leaders being accused of attacks against women and pointed out the party's failure to field any female candidates in the upcoming Lok Sabha elections. With Delhiites doubting the CM's claims on women's safety, Sitharaman declared that Kejriwal is "anti-women" and accused him of supporting the assault.
Finance Minister Nirmala Sitharaman, at an event at the Bombay Stock Exchange, emphasized the importance of policy and tax stability for a robust financial market. She expressed confidence in Prime Minister Narendra Modi's victory in the ongoing Lok Sabha elections and the positive impact it would have on the market. The minister also highlighted the successful use of technology in the Indian market and warned against unchecked retail trading of future and options. Criticizing the Congress party's plans for wealth redistribution, she stressed that such policies could harm the economy and undermine investor confidence.
Prime Minister Narendra Modi will be overseeing the rollout of the COVID-19 vaccine at over 3,000 sites across India through video conferencing on January 16th. Meanwhile, Finance Minister Nirmala Sitharaman will be presenting a budget on February 1st that will take into account the challenges posed by the pandemic. In other news, WhatsApp has responded to concerns about its recently updated privacy policy and Varun Dhawan is reportedly set to tie the knot with Natasha Dalal this month. Additionally, the Chief of the Indian Air Force has rejected comparisons between India's indigenous Tejas aircraft and the Pak-China developed JF-17 and the Indian Budget will be going paperless, doing away with the iconic budget briefcase.