Stressing that tax concessions have been provided with a view to help poor and middle class people living on a tight budget, Finance Minister Piyush Goyal on Tuesday said that now individuals earning up to Rs 9.5 lakh can escape liability by taking advantage of saving schemes.

Replying to the debate on the Finance Bill in Lok Sabha, the Minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.

The Lok Sabha on Tuesday cleared the Finance Bill 2019. While moving the Finance Bill for consideration and passage in Lok Sabha, Finance Minister Piyush Goyal took a swipe at the Congress, saying unlike the previous UPA dispensation, the Modi government in its interim budget did not reduce levies of SUVs which are used by rich persons.

Goyal said that the tax related proposals in the Finance Bill are aimed at helping the poor and the middle class people living on a tight budget.

Led by increased prices of coal amid lower provisioning for future expenses, Coal India posted a 50 per cent increase in its net profit at Rs 4,566.74 crore for the quarter ended December 31, 2018, beating Street estimates. The company's net income grew 12.58 per cent to Rs 23,385.43 crore, despite the firm offering lower quantity at e-auctions.

India’s headline and core inflation rates are set to converge in the coming months as the economy slows, increasing the chance of more interest rate cuts.

The core measure -- which strips out volatile fuel and food costs -- has remained sticky at around 6 per cent and is a key reason economists cautioned against more rate cuts after last week’s surprise easing. It softened to 5.4 per cent in January, according to economists at Yes Bank Ltd.

L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen & Toubro, has won a mega order worth over Rs 7,000 crore from Sonatrach-Algeria, the engineering major said in a statement on Tuesday.

The engineering, procurement, construction and commissioning order is for setting up of to three Central Processing (CPF) facilities in the Adrar province of Algeria.

NEW DELHI: Tata Motors Tuesday reported 12 per cent fall in global sales, including that of Jaguar Land Rover, at 1,00,572 units in January this year.

The company had sold a total of 1,14,797 units in the same month last year.

Global wholesale of all Tata Motors' commercial vehicles and Tata Daewoo range in January 2019 stood at 40,886 units, down 9 per cent from the same month last year, the company said in a statement. It had sold 44,828 units in the same month last year.

MUMBAI: State-run Bharat Petroleum Corporation Ltd (BPCL) will bring to India the much-awaited natural gas from its Rovuma basin in Mozambique in the next five years, said officials aware of the development.

BPCL will bring in 1 million metric tonnes per annum (mmtpa) of gas from the Rovuma field where its upstream arm, Bharat Petro Resources Ltd (BPRL) holds 10% stake.

Benchmark equity indices opened on a cautious note on Tuesday ahead of the release of key macroeconomic numbers amid selling by foreign and domestic investors.

The 30-share Sensex was trading 3.66 points, or 0.01%, lower at 36,391.37 in early trade. The index had lost 580 points in the previous three sessions.

Tata Consultancy Services (TCS) has signed a global partnership with JDA Software, provider of end-to-end supply chain and retail solutions, to build next-generation cognitive solutions.

Under the agreement, it will also offer consulting and system integration services around digital technologies to optimise supply chains for customers worldwide.

State-run power generation company NTPC has threatened to curtail power supply to Jammu & Kashmir from February 19 unless the state’s power development department clears dues that have shot up to almost Rs 2,000 crore. Of the total outstanding dues, as much Rs 1,626 crore has been pending for more than 60 days.

As per the regulation notice sent to the electricity distribution company (discom) by NTPC, some of the bills for which payments have not been made were issued as early as February 2018.

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