English Vocabulary from
Business & Economy
- Finance Minister Arun Jaitley presented NDA Government's first full fledged Union Budget in the Lok Sabha today.
- Corporate tax to be reduced from 30 to 25 per cent over the next four years; No change in individual income tax.
- Wealth tax abolished; two per cent additional surcharge on super-rich with above one crore rupee annual income.
- Proposes to introduce bills to curb black money.
- Goods and Services Tax to be in place by April 1, 2016.
- Two crore houses in urban areas by 2022 and four crore in rural areas.
- Two lakh rupees insurance for poor people under Jan Dhan Yojana on premium of one rupee per month.
- AIIMS to be established in five states.
- Three-pronged approach to use Jan Dhan, Aadhar and mobile technology to check pilferage of subsidies.
- Proposes over 11 per cent hike to defence sector.
- Fiscal deficit to be reduced to three per cent in the next three years.
- In order to provide convenient online shopping experience to customers, Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with Amazon.in to sell various products.
- Under the agreement, IRCTC will leverage the huge traffic it generates being a virtual monopoly for train e-ticketing to sell products such as consumer electronic, books, shoes, apparel etc.
- It has added a “shop on Amazon” tab on its homepage which redirects to a separate landing page on Amazon.in.
