Exploring Untapped Potential of Mutual Funds

 

The Mutual Fund industry has seen unprecedented growth in the past 3 years. In November 2016, total assets managed by mutual funds touched a record high of ?16.5 lakh crores rupees, a year on year growth of 27%.

Total number of folios in India also reached a record number of 4.7 crore. However, mutual funds still suffer extremely low penetration in India. A 7% share of Assets under Management (AUM) of Mutual Funds to GDP is significantly lower than some other emerging economies like Brazil (42%) and South Africa (33%).

Introducing Direct plans of mutual funds

MoneyFront aims to highlight the true potential of mutual funds to investors by firstly adopting the no-conflict option of direct plan of mutual funds. Direct plans are an alternative to the regular plans of mutual funds where you can skip the distributors and agents and invest directly with the Fund House.

Exploring Untapped Potential of Mutual Funds A direct consequence of this is an increase in returns by up to 1.5% annually, as the commissions paid to the distributors/agent are not charged to the scheme. MoneyFront, in its endeavour to provide maximum benefits to clients offers only ‘Direct Plans’.

For investors who are not well-versed about mutual funds or who need help with their asset allocation, MoneyFront also offers investment advisory that provides model portfolios and scheme recommendations tailor-made to the investor’s financial goals and risk tolerance levels. Over and above that, the investors have access to a vast library of news, views, developments, and statistics related to mutual fund schemes and everything else that impacts them.(read more...)

Your Loan Eligibility Holds the Key to Your Dream Home

Latest News - Have you ever been hounded by telemarketers urging you to apply for a loan? Calls, text messages, WhatsApp or even meeting you in person, representatives of financial companies leave no stone unturned when it comes to convincing you to take a loan.

But how is the loan eligibility application processed? Do lenders really bend over backwards to hand you the loan cheque? It does not quite work that way.

Yes, sales personnel employed by financial institutions are aggressive in their attempts to lure you. They have to be; their commissions depend on it. And if one takes the bait and applies for a loan, the situation is likely to change by the time the application is processed.

It is the borrower who is expected to satisfy the credit parameters and fulfil all the eligibility criteria for the Home Loan.

Let’s get down to the basics. What do you think is the main eligibility criteria for taking a Home Loan?

The simple answer is the borrower’s ability to repay the loan.

This means the income of the loan applicant must be enough to pay the instalments on time. The lender provides a schedule for paying the equated monthly instalments (EMIs).

With interest rates favourable, now is as good a time to take a Home Loan as any. And non-banking financial companies (NBFCs) such as Bajaj Finserv offer instant approvals and Home Loans at attractive interest rates when you apply online.

Find out how:(read more...)

Why are More People Applying for Personal Loans?

Why do people prefer Personal Loans
 

There are many factors that make Personal Loans more attractive.
 

• Easy to get: Personal Loans are easier to obtain than many other types of loans.
• Flexible usage: You can use the funds in a variety of ways. You can use it to pay for a vacation or a medical emergency. You can use it to fund a wedding, renovate a house, and more. 
• Quick process: It can take as little as three days to get approval for a Personal Loan. Just make sure you have all the necessary documentation.
• No collateral: Personal Loans are unsecured loans. In other words, they are not backed by any collateral. This helps reduce the documents required for your loan application or even the duration of the vetting process. 

You can even apply for a Personal Loan from the convenience of your home. All you need to do is visit the lender’s website. An application for a Personal Loan from Bajaj Finserv , for instance, usually takes seconds for approval and you can get funds of up to Rs.25 lakh in as little as 72 hours. 

 

 

The bottom line

Personal Loans are popular today, but it is important that you opt for a professional lender to avail financing. Keep the various factors in mind when you apply for a Personal Loan and take the first step towards fulfilling your financial goals. (read more...)

 

Paytm crosses 200 million wallet user base

Since demonetisation the company claims to have made rapid strides in the online wallet sector

 

Latest News - Mobile wallet major, Paytm announced today that its user base has crossed 200 million users. The company said that within three years of launching the Paytm Wallet, it has become most widely used and accepted payment method in the country.

Since demonetisation the company claims to have made rapid strides in the online wallet sector by laying stake to the top position. In the last 12 months, the company has managed to launch a variety of offline services, which have increased the usage of phones at various points.

Paytm wallet has moved from just mobile phone and DTH recharges, electricity, gas and water bill payments, to using it at milk booths, grocery stores, pharmacies and parking among other places.

"Reaching 200 Mn registered users and more than half a million users on a daily basis is a great showcase of the country's trust in our payment solution and reaffirms our belief in the need for a quick and easy cashless payment method. Going forward, we would continue to drive strong consumer-focused innovation in the category to reach the widest set of merchants and consumers in India," said Deepak Abbot, senior vice-president.(read more...)

Paytm launches online marketplace app - Paytm Mall

Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers

 

 

Breaking News : Paytm E-commerce on Monday announced the launch of its new Paytm Mall application on Android.

Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers.

"Only trusted sellers passing strict quality guidelines and qualification criteria will be allowed on the 'Mall'," Paytm said in a statement here.

All products listed on the mall will also go through Paytm certified warehouse and shipping channels ensuring guaranteed consumer trust, it said.

"We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Consumers would continue to get the largest assortment of domestic and international products through Paytm Bazaar, which will also be featured on the new app," said Saurabh Vashishtha, Vice President - Paytm.

The Bazaar is an unstructured shopping channel on Paytm that will also be featured on a new application, it added.

Paytm Mall has over 17 fulfilment centres across the country to offer consumers an efficient online shopping experience.

The platform would also offer sellers the widest reach through its vast network of over 40 courier partners, it said.

The Paytm Mall would also launch an ungraded version of the Paytm Seller app, available in 7 regional languages allowing anyone with a smartphone to set up an online shop on Paytm Mall.

Paytm Mall is available on Android, and lists over 68 million products sold by 1.4 lakh sellers spread over 1000 cities and towns across the country. The iOS app is expected soon. (read more...)

Web browsing and more: Nokia 3310 mobile model is back with a revamp

Unlike the original, which was known for its sturdiness, the new Nokia 3310 will allow web browsing

 

 

Latest News : Finnish brand Nokia, a former mobile star, launched three new Android smartphones and unveiled a revamped version of its iconic Nokia 3310 model more than a decade after it was phased out.

Unlike the original, which was known for its sturdiness, the new Nokia 3310 will allow web browsing.

The new version will bring back its predecessor's popular "Snake" game and distinctive ringtones, said Arto Nummela, the head of Finnish start-up HMD Global which will produce the phone under a licensing agreement with Nokia.

"The telephone will allow you to talk for 22 hours, ten times more than the original," he said during a presentation in Barcelona on the eve of the start of the Mobile World Congress, the world's biggest mobile phone show.

Launched in 2000, Nokia's original 3310 sold nearly 120 million units worldwide before it was discontinued in 2005, making it one of the world's best-selling mobile phones.

Analysts said resurrecting the popular model was a clever way for HMD Global to relaunch Nokia's brand.(read more...)

8 ways to protect your digital privacy in era of hacking and public shaming

Password management software is best defense against phishing attack: EFF technologist Jacob Hoffman

 

 

Latest News - We are living in an era of widespread hacking and public shaming. Don't like your political rivals? Beg Russia to hack them, and their emails mysteriously show up on Wikileaks. Don't like your ex-spouse? Post a revenge porn video. Don't like your video game opponents? Find their address online and send a SWAT team to their door.

And, of course, the US government has the capability to do even more. It can spy on much of the globe's Internet traffic and has in the past kept tabs on nearly every American's phone calls. Like it or not, we are all combatants in an information war, with our data under constant siege.

So how can ordinary people defend themselves? The truth is you can't defend everything. But you can mitigate threats by reducing how much data you leave exposed for an intruder to grab. Hackers call this minimising your "attack surface."

The good news is that there are some easy steps you can take to reduce the threat. Here is what I am doing this year:

1. Updating Software
2. Making Passwords Longer
3. Securing Communications
4. Protecting Mobile Web Browsing
5. Dropping Dropbox
6. Deleting Some Data
7. Reconsidering Installing Cameras and Microphones at Home
8. Opting Out of Data Brokers

Read Article Source>>>

2 Indians die every minute due to air pollution: Study

Patna and New Delhi are found to be the worst polluted cities of the world for PM 2.5 levels

 

 

Latest News -  The air Indians breathe is turning more toxic by the day and an average of two deaths take place daily due to air pollution, says a new study.

According to medical journal The Lancet, over a million Indians death by air pollution and some of the worst polluted cities of the world are in India.

The study released this week but based on 2010 data estimates that globally 2.7-3.4 million pre-term births may be associated with PM 2.5 exposure and South Asia is the worst hit accounting for 1.6 million pre-term births.

The study says causes of air pollution and climate change are intricately linked and needed to be tackled together.

The Lancet concludes that climate change posed both a "potentially catastrophic risk to human health", while conversely being "the greatest global health opportunity of the 21st century" if the right steps are taken.

The smog over northern India is extracting a heavy toll, every minute two lives are lost in India due to ambient air pollution, the study published in The Lancet says.

Further, according an estimate by the World Bank, this would amount to a whopping $38 billion loss in income towards labour in India (read more...)

Virat Kohli first Indian sportsperson to ink Rs 100-cr deal with Puma

The long-term deal could potentially cover Kohli's remaining career with the Indian team

 

BREAKING NEWS  - Virat Kohli became the first Indian sports personality to strike a

Rs 100-crore deal with a single brand, reported Times of India. Kohli signed an eight-year deal with sports apparel brand Puma worth Rs 110 crore. The Indian cricket captain is now set to join the likes of Usain Bolt, Asafa Powell and Thierry Henry, among others, as a global ambassador for the brand.

The long-term deal could potentially cover Kohli’s remaining career with the Indian team. A bulk of the endorsement deal, estimated between Rs 12 crore to 14 crore annually, is locked up in fixed payout.

“It’s a privilege to be part of a great list of athletes that Puma has,” Kohli told TOI. “Not just today’s icons like Usain Bolt, but also the brand’s rich history with Pele, Maradona, Thierry Henry and others. Both Puma and I are committed to a long-term partnership. I am impressed by the way Puma has gained popularity and market leadership in India in a short period of time,” he added.

Only Sachin Tendulkar and Mahendra Singh Dhoni have been in the Rs 100-crore club through multi-year contracts with talent management agencies, but they have never been signed by a single brand for such a big amount. (read more...)

Note ban: You can withdraw Rs 50,000 from your savings accounts from today

Govt, RBI had imposed limits on withdrawal of money due to shortage of currency following note ban

 

 

Breaking News - The weekly limit on withdrawal of cash from savings bank accounts will be increased to Rs 50,000, from the current Rs 24,000, from Monday, and the limit will be removed from March 13.

"Effective February 20, 2017, the limits from cash withdrawal limit from savings bank accounts will be enhanced to Rs 50,000 per week from the current limit of Rs 24,000 per week (and) effective March 13, 2017, there will be no limits prescribed by RBI on cash withdrawal from savings bank accounts."

The Government and RBI had imposed limits on withdrawal of money from ATMs and bank branches in view of the currency shortage following demonetisation.

These limits, however, are being gradually eased, with RBI pumping in new notes of Rs 500 and Rs 2,000. (read more...)

Priyanka Gandhi wants to avoid people's questions, says Smriti Irani

The BJP leader slammed Gandhi for not being a part of the campaign

 

 

Election 2017 : Union Minister and Bharatiya Janata Party (BJP) leader Smriti Irani on Wednesday attacked Priyanka Gandhi saying the Congress leader is not campaigning in Amethi as she cannot face people's questions.

The Union textiles minister addressed rallies and press conference here, where she did not give direct reply when asked if she would be the party's chief ministerial candidate if it comes to power.

Every BJP worker wants that the party forms the next government in Uttar Pradesh, she said on the question of chief ministerial candidate.

She said that despite losing the Lok Sabha poll from Amethi in 2014 to Rahul Gandhi she has been working for the people of the constituency.

But, Priyanka Gandhi has not gone to campaign in Amethi because of the "unfulfilled" promises, she said.

"Priyanka wants to avoid people's questions," she said.

Asked if Samajwadi Party-Congress (SP-Congress) alliance has in any way affected the prospects of BJP in the state, she said Chief Minister Akhilesh Yadav went with Congress because he was not confident of a victory alone.(read more...)

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Get all the Updates on UP Assembly Election 2017

Assembly polls 2017: UP registers over 65% polling in second phase

EC had made cash seizure of Rs 16.5 crore, liquor worth Rs 9 crore and drugs worth Rs 1.1 crore

 

 

Election 2017 : Over 65 per cent voters cast their ballot in the second phase of the Uttar Pradesh assembly elections across 67 seats on Wednesday, the Election Commission (EC) said in New Delhi.

"The polling was 65.5 per cent till 5 pm and was continuing," Deputy Election Commissioner Vijay Dev told reporters New Delhi.

He said that EC had made cash seizure of Rs 16.5 crore, liquor worth Rs 9 crore and drugs worth Rs 1.1 crore. The official said gold and silver have also been seized.

Officials in Lucknow said that maximum voting was reported from Saharanpur and Lakhimpur Kheri.

Barring some places where Electronic Voting Machines developed some snags, polling was smooth and peaceful in most of the 67 assembly constituencies across 11 districts.

(read more...)



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Read our full coverage on  

UP Elections 2017

UP assembly polls: Dimple Yadav campaigns for sister-in-law Aparna

Aparna Yadav is the SP candidate from Lucknow Cantt assembly seat

 

Election 2017 : Suggesting all is well in the first family of the Samajwadi Party (SP), Dimple Yadav, wife of Chief Minister Akhilesh Yadav, on Wednesday campaigned for her sister-in-law Aparna Yadav in Lucknow Cantt Assembly seat.

Standing alongside Aparna, a reticent Dimple, who appeared more confident, cited various development works undertaken by the SP government against those of the Bharatiya Janata Party (BJP)-led dispensation at the Centre, she said, did nothing but ban notes and force people to stand in queues outside banks and harm interests of small traders and artisans.

UP Election 2017 -Addressing a receptive crowd which also presented her with a sword, Dimple, attired in fawn colour saree, recalled as to how Taj City Agra has been linked with Lucknow through the only expressway of its kind in the country.

"This is an expressway of development, prosperity and improving the economy and it will be taken to Ballia (on SP returning to power)...Will you support us in it?" she said, asking people to raise their hands in support.

Amidst slogans and cheers, she referred to the Lucknow Metro project which she said was completed with the blessings of Netaji (Mulayam Singh) in two years' time... "Now even the prime minister has said he will come and sit in our metro," she said. (read more...)

UP Elections 2017: Questions for BJP's bikers

Even after 100 days of demonetisation, we don't know if we are better or worse off

 

 

Elections 2017 - Newspaper reports suggest that the Bharatiya Janata Party plans to use bikers to explain the benefits of note ban to Uttar Pradesh voters – the state which is in the midst of an Assembly election. The question is what are the benefits that they can flaunt?

The voters, on their part, should also be ready to ask them questions when they flaunt the benefits, much like a tea advertisement on leading television channels.

Biker: The move led to unearthing of large amount of black money.
Voter: How much black money has been revealed? How many politicians, actors and builders were caught with black money?

Biker: The economy has been cleansed of its ill-gotten wealth (kaale dhan ka safaya ho gaya).
Voter: why are people still being caught with crores of new notes? How are they getting them? Isn’t black money being created again?

Biker: Pakistan-based counterfeiters were using notes to fund terrorism in India. Demonetisation has destroyed this.
Voter: How much money was in counterfeit notes? Recent reports say that Pakistan-based counterfeiters are already printing Rs 2000 notes. How will common man know the difference between counterfeit and new notes, given the huge change in their size, colour and features? (read more...)

Get all the Updates on UP Election 2017

Sasikala convicted in DA case: How a Poes Garden raid did her in

Subramanian Swamy's complaint named only Jayalalithaa and not Sasikala

 

Breaking News - Over the past week or so, one of the staunch supporters of VK Sasikala's claim to form a government in Tamil Nadu was BJP leader Subramanian Swamy. He was seen openly supporting her in TV channels and even met the governor at Chennai. Ironically then, the final blow that dashed Sasikala's hopes of occupying the chief minister's chair came from a bullet fired by Swamy two decades ago.

In fact, while Swamy's complaint named only Jayalalithaa, a raid of Poes garden and evidences gathered there and other locations in 1996-97, brought in Sasikala convicted, her nephew VN Sudhakaran and her sister in law J Elavarasi as accused no 2, 3 and 4 in what came to be known as the disproportionate assets (DA) case.

The trial court judgment by Justice John Michael Cunha in September 2014, records that the criminal law was set in motion against former Tamil Nadu chief minister Jayalalithaa by Subramanian Swamy, the then president of Janata Dal.

He lodged a complaint on June 14, 1996 alleging that, subsequent to the assumption of the public office of the chief minister of Tamil Nadu, Jayalalithaa acquired properties and earned income disproportionate to her known source of income. The complaint came a month after the AIADMK was condemned to its worst defeat till date in the Assembly elections. Jayalalithaa herself lost in Barugur. Her party was reduced to four seats from 164, five years earlier. (read more...)

Peugeot may relaunch Ambassador in a new avatar at Rs 5-9 lakh

Peugeot is likely to relaunch the brand with multiple variants

 

Breaking News - The iconic Ambassador is likely to be relaunched from the Peugeot SA (PSA) stable in a new avataar and at a new price point.

Peugeot wanted to acquire the Ambassador brand and launch it as a state-of-the-car targeted at the mid-market segment, said Rajeev Shah, managing director and chief executive officer, RBSA Advisors.

RBSA advised Hindustan Motors on the sale of the Ambassador brand to Peugeot for Rs 80 crore. The price point could be Rs 5.5-6 lakh and go up to Rs 9 lakh. The BS IV-compliant Ambassador Encore, launched in 2013, was priced at around Rs 4.98 lakh.

In the Rs 6-9 lakh category, there are a whole gamut of cars in the Indian market, namely the Hyundai Xcent, Honda Amaze, Honda City, Volkswagen Vento, Maruti Suzuki Swift Dzire.

According to the contours of the arrangement, Peugeot had acquired not just the mother brand Ambassador but all its variants as well, said Shah. However, the sale doesn’t include the Uttarpara plant in West Bengal, where the Ambassador used to be manufactured. “This is purely a brand sale. It includes the Ambassador with its variants. Peugeot is likely to relaunch the brand with multiple variants.”(read more...)

India thump Bangladesh by 208 runs in one-off Test

Captain Kohli, who scored 242 in two innings, was declared the man-of-the-match

 

Latest News - It was a comprehensive show by Virat Kohli-led side. They put up a mammoth total of 687-6 declared in their innings before bowling out Bangladesh for 388. Then, India scored at a rapid pace in their second innings before declaring at 159-4, setting a target of 459 for the visitors.

Captain Kohli, who scored 204 and 38 in the two innings respectively, was declared the man-of-the-match.

Following the win, Kohli's side has now captured four consecutive Test series. They won away against the West Indies before prevailing over New Zealand and England.

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IND  687/6 decl,  159/4 decl

BAN 388,  250-all out (100.3 Ovs)   (Scorecard)

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In Gujarat polls, Hardik Patel to be Shiv Sena's face

Uddhav Thackeray indicated that Sena might pull out of BJP-led dispensation

 

ELECTIONS 2017 : Seeking to corner BJP on a day he met Patidar quota leader Hardik Patel, Shiv Sena chief Uddhav Thackeray on Tuesday put the Maharashtra government "on notice" even as chief minister Devendra Fadnavis saw "no danger" to his government and said it would complete its term. BJP is Bharatiya Janata Party.

Just ahead of Mumbai civic polls, Thackeray indicated that Sena might pull out of BJP-led dispensation as the government is on "notice period" as of now.

Thackeray, whose party is locked in a fierce battle with BJP in local body polls in Mumbai and other cities, said Patidar quota stir spearhead Hardik Patel will be Sena's face in neighbouring Gujarat, going to polls towards the end of this year.

Thackeray's statements came after Patel called on him at his residence Mathoshree, a visit being seen as significant since Sena has been trying hard to woo the Gujarati community in its battle to retain hold on Mumbai, the party's home turf since its formation decades ago.

"Our friendship with Hardik Patel will be lasting. Until the other person breaks relations with us, we do not leave their side. If needed, we will fight Gujarat assembly polls as well and Hardik will be our face," the Sena chief said, addressing a joint press meet with Patel. (read more...)

Punjab: Repolling Ordered At 48 Polling Stations On Feb 9 Over VVPAT Snag

EC had used VVPAT for the first time in Punjab at 6,668 polling stations in 33 assembly segments

 

 

Elections 2017 : The Election Commission (EC) on Tuesday ordered repolling in 48 polling stations falling in Majitha, Muktsar and Sangrur assembly segments in Punjab following malfunctioning in the Voter-Verified Audit Paper Trail (VVPAT) EVMs on February 4.

The repolling will take place on February 9.

Besides, the repolling will also take place at polling stations in Moga and Sardulgarh segments where EVMs displayed the votes polled during mock polls.

"The  Punjab Elections  repolling will take place at 48 polling stations because of the malfunctioning in VVPAT on polling day. The repolling will take place on February 9," Punjab Chief Electoral Officer V K Singh said in Chandigarh on Tuesday.

He said polling stations where the repolling shall take place are in Majitha, Muktsar and Sangrur assembly segments where VVPAT developed snag.

Singh further said that repolling would also be held at polling stations in Moga and Sardulgarh assembly segments.

The repolling has been ordered at 32 polling stations of Majitha (12), Muktsar (9), Sangrur (6), Moga (1) and Sardulgarh (4)and 16 polling stations of Amritsar Lok Sabha bye-election, an official said.  (read more...)

8 people per day on average die in Delhi due to pollution: SC

At least 3,000 pre-mature deaths take place annually in Delhi due to air pollution

 

Every day eight people on an average are dying in Delhi due to air pollution-related diseases, the Supreme Court today said even as it directed the Centre to consider banning the use of fuels high in sulphur content-- furnace oil and pet coke -- by industries in NCR.

A bench of Justices M B Lokur and P C Pant quoted a study of a Boston-based institute which said that every year around 3000 people die in Delhi pollution-related diseases.

"A 2010 study of the Boston-based institute on health effects estimates that at least 3000 pre-mature deaths take place annually in Delhi due to air pollution-related diseases.

"The World Allergy Organisation's journal published a report in 2013 on the high respiratory disorder symptoms which says that students living in Chandni Chowk in north delhi have 66 per cent such symptoms, west Delhi's Mayapuri (59 per cent) and south Delhi's Sarojini Nagar (46 per cent).

"Heavy traffic movement has been found to be the factor responsible for the relative difference between the localities," the bench said while quoting the report in the order.  (read more...)

Fit & Proper: Tips to lead a healthy life without stress

A healthy lifestyle includes a balanced diet and adequate sleep is integral

 

 

Tips to manage stress:

 Relaxation: Giving priority to relaxation time and activities should be a priority. These activities vary from person to person.

 

Physical exercise: Simple physical activities done regularly are helpful in alleviating stress and improving one’s mood.

Connecting with others: Speaking your mind out with someone helps us in venting out and de-stressing.

Writing: Writing one’s thoughts and feelings is also helpful in venting out. Besides, writing being a relaxing activity, it also aids in getting a perspective on our own problems.

Healthy lifestyle: A lifestyle that includes a balanced diet and adequate sleep is integral.

Getting off gadgets: Being constantly online and connected takes a toll on our well-being. It’s important to take time off and engage with real people.

Time management: Doing adequate planning and groundwork beforehand, is helpful in avoiding stress associated with lack of preparation and deadlines.

Professional help: If the stress is difficult to manage, it is advisable to consult a psychologist who would guide you towards a happy & healthy life.

Read Article Source>>>

BSE debuts on NSE: 6 little-known facts about the bourse

Asia's oldest stock exchange has finally listed on NSE, its much younger rival

 

After a long and wobbly road so far, Asia’s oldest stock exchange BSE finally listed on rival National Stock Exchange on Friday. As it adds another chapter in its 142-year-long history, Business Standard lists six little-known facts about BSE that will surprise you:

1) The origin: Under a banyan tree

2) Admission fee: An exorbitant Rs 51

3) BSE: Brokers’ Stock Exchange?

4) When BSE underestimated NSE

5) The term Sensex

6) One-week holiday

 BSE debuts on NSE: 6 little-known facts about the bourse on Business Standard. Asia's oldest stock exchange has finally listed on NSE, its much younger rival. (read more...)

UP Inc welcomes Union Budget 2017

Industrialists laud focus on agriculture, MSME sectors and its objective to maintain fiscal prudence

Uttar Pradesh Inc has welcomed the Union Budget 2017 for its purported focus on the agricultural and Micro, Small and Medium (MSME) sectors and its objective to maintain fiscal prudence.

The general opinion among the industrialists and industry chambers was the Budget had primarily focused on the farm sector, rural population, youth, poor and underprivileged health care, infrastructure, financial sector for stronger institutions, speedy accountability, public services, prudent fiscal management and tax administration.

Confederation of Indian Industry (CII) UP State Council chairman and Tasty Dairy Specialties Limited managing director Atul Mehra said the Budget had accorded highest priority to rural and agricultural sectors due to its large employment potential.

"The Budget would certainly boost the Indian economy as all the key sectors have been considered and provided for therein," he said.

"Reduction of corporate tax for MSMEs with turnover of less than Rs 50 crore is a major relief for more than 96 per cent of the assesses," senior CII office bearer and CP Milk & Food Product Ltd director Jai Agarwal underlined.

Meanwhile, MSME chamber Indian Industries Association (IIA) national president Manish Goel welcomes Income Tax (IT) reduction for companies with annual turnover of Rs 50 crore to 25 per cent. (read more...)

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