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Wednesday
June 2020
5:46 AM IST
News Headlines
Competitive sports resume in England after 75-day shutdown        Amit, Vikas nominated for Khel Ratna by BFI; 3 names for Arjuna        Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI        Sensex, Nifty spurt over 2 pc as India begins to unlock economy        Violent protests engulf US, thousands arrested and nearly 40 cities under curfew        Hong Kong blocks Tiananmen vigil; rush on for UK passports        Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai        Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC        Cabinet decisions will bring positive changes in lives of farmers, labourers, workers: PM        COVID-19: India now seventh worst-hit country in world        Mercury plummets as rain lashes Haryana and Punjab        New biography on PM Modi released        Oman reports 1,014 new COVID-19 cases, 11,437 in total        SpaceX Nasa Mission: Astronauts on historic mission enter space station        Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported        DINGKO Cancer-stricken boxing hero Dingko Singh tests positive for COVID-19        As Lockdown-4 ends, home ministry issues guidelines for ''Unlock-1'' from June 8        COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected        Locusts in TN local grasshopper species, pose no threat, says govt        Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive        
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Business News
FinMin to kick-start budgetary exercise from Oct 14
 
New Delhi: The finance ministry will kick-start the exercise to prepare annual Budget for 2020-21 from October 14 which, among other thing, will have to address critical issues pertaining to slowdown in growth and subdued revenue collection.

It will be the second Budget of both the Modi 2.0 government and Finance Minister Nirmala Sitharaman.

"The pre-Budget/RE (Revised Estimate) meetings will begin on the October 14, 2019. All financial advisers should ensure that the necessary details related to these meetings contained in the RE module of the UBIS (Union Budget Information System)," according to a Budget Circular (2020-21) of the budget division of the finance ministry's Department of Economic Affairs.

The Budget Estimates for 2020-21 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers. Pre-Budget meetings will begin from October 14 and continue till the first week of November, it said.

"Some of the new inclusions in the Circular relate to instructions regarding filling up of scheduled caste sub plan and tribal sub plan, gender, child budget statements, etc.," it said.

The Budget 2019-20 is likely to be presented on February 1.

Prime Minister Narendra Modi-led government scrapped a colonial-era tradition of presenting the Budget at the end of February. Then Finance Minister Arun Jaitley had for the first time presented the annual accounts on February 1, 2017.

With the preponement of the Budget, ministries are now allocated their budgeted funds from the start of the financial year beginning April.

This gives government departments more leeway to spend as well as allow companies time to adapt to business and taxation plans.

Previously, when the Budget was presented at the end of February, the three-stage Parliament approval process used to get completed some time in mid-May, weeks ahead of onset of monsoon rains.

This meant government departments would start spending on projects only from August-end or September, after the monsoon season ended.


Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI
Sensex, Nifty spurt over 2 pc as India begins to unlock economy
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Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
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RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
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Rupee rises 6 paise to 75.60 against US dollar in early trade
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Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
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KERALA NEWS
Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported
 Kozhikode/Thiruvananthapuram: A 53-year old woman, who returned from Riyadh recently succumbed to th  
COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected
Vijayan slams Railways for scheduling trains to Kerala without informing state
Kerala records 6th COVID-19 death
INTERNATIONAL NEWS
Violent protests engulf US, thousands arrested and nearly 40 cities under curfew
 Washington, Jun 1 (PTI) The US remained a tinderbox of anger and emotion as violent protests erupted
Hong Kong blocks Tiananmen vigil; rush on for UK passports
Oman reports 1,014 new COVID-19 cases, 11,437 in total
SpaceX Nasa Mission: Astronauts on historic mission enter space station
NATIONAL NEWS
Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai
 New Delhi, Jun 1 (PTI) The depression in the Arabian Sea is likely to intensify into a severe cyclon
Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC
Mercury plummets as rain lashes Haryana and Punjab
New biography on PM Modi released
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