Every year, thousands of Indians migrate to foreign countries to explore better career opportunities. Over time, they settle abroad and attain the status of a non-resident Indian or NRI. However, the urge to invest in one’s homeland has been a perpetual quest for NRIs, and with good reason. Let’s consider some numbers to see why. What makes India an attractive destination Currently, India is the fifth largest economy at $2.7 trillion GDP. It is likely…
In the presentation of the Union Budget for the year 2019, Union Minister of Finance, Nirmala Sitharaman put forth the ambitious plan of taking India from the current $2.8 trillion economy to reach the $ 5 trillion mark by the year 2024. The Finance Minister acknowledged the role of non-resident Indians in uplifting the Indian economy. To woo further NRI investments, she announced a slew of benefits to woo NRI investors to enhance investments…
Here’s a simplified summary of the Union Budget 2019 for India (including the proposals from the Interim budget presented in February 2019) If you are a … Salaried Individual / Pensioner (no change since interim budget) Net taxable Income : upto 5 Lakhs – Tax liability zero above 5 lakhs – No change to previous tax liability calculations Standard Deduction increased by 10,000 Interest income on bank/post office deposits up to 40,000 will…
