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Business Headlines: Will Reliance buy BPCL?

The government, desperate to meet its fiscal deficit target of 3.4% of GDP, earmarked an ambitious ₹ 1.05 Trillion as its disinvestment receipts. To meet this target it has put five PSUs on the chopping block. Most important from the lot is oil major BPCL, in whom Reliance Industries has shown interest, among others. We tell you the details of how BPCL is expected to be privatised and how its younger sibling HPCL might follow suit. #MukeshAmbani #BPCL #RelianceIndustries

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Sitharaman Speaks Up On Budget’s Implications For Middle Class

Nirvaan Govind
nirmala sitharaman

Finance Minister Nirmala Sitharaman acknowledged the challenges faced by the middle class in the Budget 2024, stating, “I want to relieve the middle class, but I have limitations too.” The Budget increases the standard deduction from ₹50,000 to ₹75,000 and adjusts tax slabs under the new regime. Sitharaman noted that while the reforms aim to benefit the middle class, “the new tax regime was implemented with the aim of reducing the tax rate” for all taxpayers.

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