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Fourteen MLAs of the ruling JD(S)-Congress alliance in Karnataka have submitted their resignation to the Speaker, putting a question mark on the survival of the 13-month-old government.If the resignations are accepted, the wobbly ruling coalition will lose majority in the 224-member Assembly as its strength will come down to 104. The crisis, which had been brewing ever since the BJP swept the parliamentary polls in the state, deepened as 13 Congress and JD(S) MLAs reached the Speaker’s office to put in their papers and later met Governor Vajubhai Vala at the…

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Finance Minister Nirmala Sitharaman Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.Presenting the maiden budget of Modi 2.0 government in Lok Sabha, Sitharaman, the first full-time woman Finance Minister, proposed measures to ease liquidity crisis facing shadow banking sector (NBFCs) and providing Rs 70,000 crore capital to public sector banks while…

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The government Thursday pegged the growth rate for the current fiscal at 7 per cent, marginally up from the five-year low of 6.8 per cent recorded in the previous fiscal. According to the Economic Survey for 2018-19, tabled by Finance Minister Nirmala Sitharaman in the Rajya Sabha, “real GDP growth for the year 2019-20 is projected at 7 per cent reflecting a recovery in the economy after a deceleration in the growth momentum throughout 2018-19.” The fiscal deficit estimate for 2018-19 has been retained at 3.4 per cent of the…

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