30Jan 2021 by Asmeet No Comments

Key takeaways from the Economic Survey of 2020-21

Budget, Economy, Uncategorized
Key takeaways from the Economic Survey of 2020-21 The Survey expects the Indian economy to grow by 11% in real terms (adjusted for inflation) during 2021-22. This is close to the growth of 11.5% forecast by the International Monetary Fund (IMF). This is good news. 11% growth from this means that the Indian GDP in 2021-22 is expected to be at ₹149.2 lakh crore, which is just 2.4% more than the GDP of ₹145.7 lakh crore in 2019-20The gross tax revenue earned by the government during the period April to November 2020 fell by 12.6% to ₹10.26 lakh crore.Other than gross tax revenue, the amount of money the government expected to earn through the disinvestment route, by selling its stake in public sector enterprises, has taken major beating this year. Of the…
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03Nov 2020 by Asmeet No Comments

No change in PSU banks charges for deposits and withdrawals in near future: Finance Ministry

Banking and Finance
Finance Ministry: PSU banks will not increase charges for deposits and withdrawals in the near future The Ministry of Finance released an official statement with “the factual position”. Finance ministry said "No service charge is applicable on the 60.04 crore Basic Savings Bank Deposit accounts, including 41.13 crore Jan Dhan accounts opened by the poor and unbanked segments of society, for the free services prescribed by RBI”.   The statement mentions "Regular Savings accounts, Current Accounts, Cash credit accounts & Overdraft accounts: In this regard, while the charges have not been increased, Bank of Baroda had made certain changes w.e.f. 1st November, 2020, with regard to the number of free cash deposits and withdrawals per month. The number of free cash deposits and withdrawals, have been reduced from 5 each per…
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