No Cash Transaction above Rs 3 lakh – FM Arun Jaitley

07-02-2017

Press Information Bureau Government of India Ministry of Finance Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh Government to launch schemes to promote BHIM app, Aadhar Enabled Payment System Mission to be set-up to achieve a target of 2500 Cr digital transactions in 2017-18 Series of measures proposed to strengthen and regulate digital economy In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in his Budget Speech today said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash. Accepting a

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Union Budget 2017: Income Tax Rates Dropped, See Details Here
February 1, 2017

Union Budget 2017: Revised tax rate slab exempts individuals earning up to Rs. 3 lakh from direct tax. NEW DELHI: Finance Minister Arun Jaitley today halved the income tax rate for persons earning between Rs. 2.5 lakh and 5 lakh to 5 per cent, from the earlier 10 per cent. He has, however, cut a Rs. 5,000 rebate on tax currently given to these

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Union Budget 2017: Top reactions from Paytm, MobiKwik and other digital payment services
February 1, 2017

Finance Minister Arun Jaitley said promotion of digital economy is an integral part of Government's strategy to clean the system.  Finance Minister Arun Jaitley, who presented the Union Budget 2017-2018 on Wednesday, emphasised a shift to digital economy has huge benefits for the common man. Finance Minister Arun Jaitley, who presented

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Budget 2017: Cigarettes will burn a hole in your pocket. Find out what else is costlier and what is cheaper
February 1, 2017

Finance minister Arun Jaitley announced an increased tax on tobacco products, but cut down the same for clean energy sources.(AP File Photo)  Smokers and tobacco consumers will have to shell out more for their indulgence as finance minister Arun Jaitley continued with the crackdown on cigarettes and tobacco products by increasing taxes

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Union Budget 2017: Air India to get Rs 1,800 crore from government next fiscal
February 1, 2017

National carrier Air India will receive Rs 1,800 crore as equity infusion in 2017-18 under the government's ongoing financial assistance and the amount is slightly higher than the allocation for this fiscal. The allocation has been made in the Union Budget for 2017-18, which was presented by Finance Minister Arun Jaitley today. (Source:

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Breaking News – Political funding reforms
February 1, 2017

Max amount political party can receive in cash donation will be Rs 2000 from any one source Political parties will be entitled to recieve donations by cheque or digital mode Additional step amendment proposed to RBI act to enable issuance of electoral bonds in accordance to scheme by GOI. Donor could purchase bonds from authorised banks.

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Union Budget 2017: Highlights
February 1, 2017

HIGHLIGHTS Finance minister Arun Jaitley presented the Union Budget 2017-18 in the Lok Sabha today. Here are the highlights of the Union Budget: 1. India stands out as a bright spot amid world economic gloom. 2. Our focus will be on energising youth to reap benefits of growth and employment. 3. IMF estimates world GDP

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