Finance Minister Nirmala Sitharaman will address a press conference on Tuesday, January 18. According to the advisory issued by the Center, information about an important economic issue will be given during the press conference. The advisory said, ‘Finance Minister Nirmala Sitharaman will hold a press conference on an important economic issue in Delhi on January 18 at 4.30 pm today.’
According to CNBC sources, Finance Minister Antrix Dewas will clarify about the issue.
The Supreme Court on January 17 dismissed an appeal of Dewas Multimedia Pvt Ltd. Ltd. and the parent Dewas Employee Mauritius Pvt. Ltd. is against the orders of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). In January 2021, a bench of the NCLT filed a petition by Antrix Corp Ltd, the commercial arm of the Indian Space Research Organization (ISRO), urging the tribunal to allow the closure of Dewas Multimedia for fraud. After this NCLAT also upheld the order of NCLT.
“If the seeds of the business relationship between Antrix [commercial arm of the Indian Space Research Organisation (ISRO)] And the devas were a product of the deceit committed by the devas, every part of the plant that originated from those seeds, such as settlement, dispute, arbitral award, etc., all infused with the poison of fraud. The product of fraud is against the public policy of any country including India. The basic concepts of morality and justice are always in opposition to fraud,” wrote Supreme Court Justice V. Ramasubramaniam.
Budget 2022 Expectations:
It should be mentioned that the Center is all set to present the Union Budget 2022 on February 1. The middle class salaried expect a slew of measures from Finance Minister Nirmala Sitharaman in the Union Budget 2022. From simplification of National Pension System (NPS) to working allowances, a bouquet of proposals for the upcoming budget has been shared with the Finance Minister.
Sharing the budget requirements for the Union Budget 2022,
Sourav Basu, Head of Wealth Management, Tata Capital, said, “In order to provide relief to taxpayers, the government is considering reforms to expand the ELSS category savings to include fixed income instead of equity schemes to provide more options to investors. We also look forward to simplifying the views of the Finance Minister on capital gains tax and bringing uniformity in the structure.
“In terms of income tax, we expect the government to revise the tax slabs or increase the standard deduction so that people have more disposable income. On the direct taxes front, the government should also provide some key concessions which will help in promoting broader macro goals like employment.”
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