While many were expecting populist budget in the run up to polls, announcements like income support for farmers, pension for informal workers and tax rebates for the middle class managed to generate some euphoria.
In a major relief to the middle-class, Finance Minister Piyush Goyal Friday proposed to double the threshold for tax exemption in a move that proposal will benefit 3 crore middle-class tax payers.
Interim Finance Minister Piyush Goyal on Friday made key announcements on the economy, income tax, farmer relief packages, among others, while presenting the last Budget of the Modi government ahead of the Lok Sabha elections.
The big numbers ahead of Budget 2019.
Shriram Transport Finance Company (STFC) Monday reported a rise of 17.34 per cent in net profit to Rs 635.45 crore for the third quarter ended December 31, 2018. The non-banking finance company (NBFC) had registered a net profit of Rs 541.54 crore in the October-December quarter of 2017-18.
Goyal, who has been given an additional charge of the finance ministry on Wednesday in the absence of Arun Jaitley, is scheduled to meet chiefs of the state-owned banks on Monday to review financial performance of the banks.
PNB Housing Finance Thursday reported a 32 per cent rise in consolidated net profit at Rs 303 crore in the third quarter ended December 2018. Its net profit was Rs 229.5 crore in the corresponding quarter a year ago, PNB Housing Finance said in a statement.
The company would also augment the capital base of both the infrastructure finance and equipment finance businesses, Chairman and MD Hemant Kanoria told reporters.
Fincare SFB also plans to launch new products such as 2-wheeler loans and affordable housing loans in the immediate term, in addition to expanding its footprints in cities such as Pune, national capital region and Bhopal over the next few months.
The non-convertible debentures will offer highest yield of 10.50 per cent for individual and other categories, and 10.35 per cent for institutional category, for tenor of 120 months with frequency of monthly and annual payment.