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February 1, 2020 | 16:40 IST
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In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and Micro Enterprise (MSME) sector, the Union Budget proposed to raise by five times the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore. While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman said that in order to boost less cash economy, the increased limit shall apply only to those businesses which carry out less than 5% of their business transactions in cash. Currently, businesses having turnover of more than Rs 1 crore are required to get their books of accounts audited by an accountant.
In order to give a boost to the start-up ecosystem, the Union Budget has proposed to ease the burden of taxation on the employees by deferring the tax payment on ESOPs by five years or till they leave the company or when they sell their shares, whichever is earlier.
The Finance Minister said that Start-ups have emerged as engines of growth for Indian economy. Over the past year, the Government has taken several measures to handhold them and support their growth. During their formative years, Start-ups generally use Employee Stock Option Plan (ESOP) to attract and retain highly talented employees. ESOP is a significant component of compensation for these employees. Currently, ESOPs are taxable as perquisites at the time of exercise. This leads to cash-flow problem for the employees who do not sell the shares immediately and continue to hold the same for the long-term.
Further, an eligible Start-up having turnover upto Rs 25 crores is allowed deduction of 100% of its profits for three consecutive assessment years out of seven years if the total turnover does not exceed Rs 25 crores. In order to extend this benefit to larger start-ups, the Budget has proposed to extend the turnover limit from existing Rs 25 crores to Rs 100 crores. Moreover considering the fact that in the initial years, a start-up may not have adequate profit to avail this deduction, the Budget proposes to extend the period of eligibility for claim of deduction from the existing 7 years to 10 years.
PM Modi addresses gathering at Anandpur Dham, Madhya Pradesh
April 11, 2025
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New India is moving ahead with the mantra of 'Development as well as Heritage': PM
Our country is the land of sages and saints; whenever our society goes through a difficult phase, they give a new direction to the society: PM
The resolve to uplift the poor and the deprived, the mantra of 'Sabka Saath, Sabka Vikas', this spirit of service is the policy and commitment of the government: PM
In a country like India, our culture is not only linked to our identity, It is our culture that strengthens our potential: PM
In line with his commitment to furthering the cultural and spiritual heritage of India, Prime Minister visited Anandpur Dham of Isagarh Tehsil in the Ashoknagar district in Madhya Pradesh today. He also performed darshan and pooja at Guru Ji Maharaj Temple and toured the temple complex at Anandpur Dham. Addressing the gathering, he welcomed the large number of devotees who had traveled from Delhi, Haryana, Punjab, and across the country. He expressed his happiness upon visiting Shri Anandpur Dham, sharing his experience of offering prayers at Guruji Maharaj's temple which filled his heart with bliss.
Remarking on the sanctity of the land nurtured by the penance of saints, where altruism has become a tradition and the resolve for service paves the way for humanity's welfare, Shri Modi highlighted the uniqueness of this land, quoting saints who said that sorrow fears to enter Ashok Nagar. He expressed his joy at participating in the celebrations of Baisakhi and the birth anniversary of Shri Guru Maharaj Ji, paying respects to the pratham Padshahi Shri Shri 108 Shri Swami Advait Anand Ji Maharaj and other Padshahi saints. He noted the historical significance of the day, marking the Mahasamadhi of Shri Dwitiya Padshahi Ji in 1936 and the union of Shri Tritiya Padshahi Ji with his true form in 1964. The Prime Minister offered his tributes to these revered Gurus and extended his salutations to Maa Jageshwari Devi, Maa Bijasan, and Maa Janaki Karila Mata Dham. He conveyed his greetings to everyone on the occasion of Baisakhi and Shri Guru Maharaj Ji's birth anniversary celebrations.
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“India is a land of sages, scholars, and saints, who have always guided society during challenging times”, exclaimed the Prime Minister, highlighting that the life of Pujya Swami Advait Anand Ji Maharaj reflects this tradition. He recalled the era when acharyas like Adi Shankaracharya expounded the profound knowledge of Advaita philosophy. He noted that during the colonial period, society began to lose touch with this wisdom. However, it was during this time that sages emerged to awaken the nation's soul through the principles of Advaita, he added, emphasising that Pujya Advait Anand Ji Maharaj carried forward this legacy by making the knowledge of Advaita accessible and simple for the common people, ensuring its reach to the masses.
Addressing the pressing global concerns of war, conflict, and the erosion of human values amidst material progress, Shri Modi identified the root cause of these challenges as the mindset of division—of "self and other"—which distances humans from one another. “The solution to these issues lies in the philosophy of Advaita, which envisions no duality”, he emphasised, explaining that Advaita is the belief in seeing the divine in every living being and, further, perceiving the entire creation as a manifestation of the divine. He quoted Paramhans Dayal Maharaj, who beautifully simplified this principle as, ‘What you are, I am’. He remarked on the profoundness of this thought, which eliminates the divide of "mine and yours," and noted that if universally embraced, it could resolve all conflicts.
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The Prime Minister shared his earlier discussion with the chate Padshahi Swami Shri Vichar Purna Anand Ji Maharaj, who spoke about the teachings of the pratham Padshahi Paramhans Dayal Maharaj Ji and the service initiatives of Anand Dham. He highlighted the five principles of meditation established at Anand Dham, emphasizing selfless service as one of them. He remarked on the spirit of serving the underprivileged with a selfless attitude, seeing Narayan in the act of serving humanity, which forms the foundation of Indian culture. He expressed his happiness that Anandpur Trust is advancing this culture of service with dedication. He noted that the trust operates hospitals treating thousands of patients, organizes free medical camps, runs a modern cowshed for cow welfare, and manages schools for the development of the new generation. He also praised Anandpur Dham's significant contribution to humanity through environmental conservation, highlighting the efforts of the ashram's followers in transforming thousands of acres of barren land into greenery, with thousands of trees planted by the ashram now serving altruistic purposes.
“The spirit of service is at the core of every initiative undertaken by the government”, said Shri Modi highlighting that under the Pradhan Mantri Garib Kalyan Anna Yojana, every needy individual is free from the worry of food. Similarly, the Ayushman Bharat scheme has relieved the poor and elderly from concerns about healthcare, while the PM Awas Yojana is ensuring secure housing for the underprivileged. He noted that the Jal Jeevan Mission is addressing water issues in villages, and the establishment of record numbers of new AIIMS, IITs, and IIMs is helping even the poorest children realize their dreams. He reiterated the government’s commitment to environmental conservation through the 'Ek Ped Maa Ke Naam' campaign, under which crores of trees have been planted across the country. The Prime Minister remarked that the scale of these achievements is driven by the spirit of service. He reiterated the government’s resolve for the upliftment of the poor and marginalized, guided by the mantra of ‘Sabka Saath, Sabka Vikas’. “This spirit of service is both the policy and the commitment of the government”, he stressed.
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Underlining the fact that embracing the resolve of service not only benefits others but also enhances one's personality and broadens perspectives, the Prime Minister noted that the spirit of service connects individuals to larger objectives of society, the nation, and humanity. He acknowledged the dedication of those engaged in service, highlighting how overcoming hardships becomes second nature through acts of selfless service. He described service as a spiritual practice, likening it to a sacred Ganga in which everyone must take a dip. He remarked on the responsibility of developing regions like Ashok Nagar and Anandpur Dham, which have contributed immensely to the nation, pointing out the rich heritage of art, culture, and natural beauty in these areas, noting their vast potential for development and heritage. PM further highlighted efforts to boost progress in Madhya Pradesh and Ashok Nagar, including elevating Chanderi handloom through Geographical Indication (GI) tag for Chanderi sarees and the establishment of a Craft Handloom Tourism Village in Pranpur to accelerate economic growth in the region. He also noted that the Madhya Pradesh government has already commenced preparations for the Ujjain Simhastha.
Acknowledging the recent celebration of the grand festival of Ram Navami, Shri Modi highlighted the ongoing development of the "Ram Van Gaman Path," noting that a significant portion of this path will pass through Madhya Pradesh. He remarked on Madhya Pradesh's remarkable and unique identity, stating that these initiatives will further strengthen its distinctiveness.
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The Prime Minister affirmed the nation's ambitious goal of becoming a developed India by 2047 and expressed confidence in achieving it. He emphasized the need to preserve India's ancient culture during this journey, noting that while many countries lost touch with their traditions in the pursuit of development, India must maintain its heritage. “India's culture is not just tied to its identity but strengthens its capabilities”, highlighted the Prime Minister commending the Anandpur Dham Trust for its significant contributions in this regard and expressed confidence that the trust's service initiatives will infuse new energy into the vision of Viksit Bharat. He concluded by extending his greetings on the occasion of Baisakhi and the birth anniversary celebrations of Shri Guru Maharaj Ji.
The Governor of Madhya Pradesh, Shri Mangubhai Patel, the Chief Minister of Madhya Pradesh, Shri Mohan Yadav, Union Minister Shri Jyotiraditya Scindia were present among others at the event.
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Background
Anandpur Dham has been established for spiritual and philanthropic purposes. Spanning 315 hectares, it houses a modern gaushala (cowshed) with over 500 cows and runs agricultural activities under Shri Anandpur Trust campus. The trust has been operating a charitable hospital in Sukhpur village, schools in Sukhpur and Anandpur and various Satsang Centers across the country.
गरीब और वंचित के उत्थान का संकल्प...‘सबका साथ, सबका विकास’ का मंत्र... सेवा की ये भावना...आज ये सरकार की नीति भी है और निष्ठा भी है: PM @narendramodipic.twitter.com/bdJMnfwTjy
भारत जैसे देश में हमारी संस्कृति केवल हमारी पहचान से ही नहीं जुड़ी है। हमारी संस्कृति ही हमारे सामर्थ्य को मजबूती देती है: PM @narendramodipic.twitter.com/BVV3HyZVqg
New India is moving ahead with the mantra of 'Development as well as Heritage': PM
