Rajasthan 6th state to complete ease of doing business reforms; eligible to borrow Rs 2,731 cr

Erwin Oropesa


a screen shot of a person: Rajasthan 6th state to complete ease of doing business reforms; eligible to borrow Rs 2,731 cr


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Rajasthan 6th state to complete ease of doing business reforms; eligible to borrow Rs 2,731 cr

Rajasthan has become the 6th state to complete the ‘Ease of Doing Business’ reforms stipulated by the finance ministry. With this, Rajasthan is eligible for additional funds worth Rs 2,731 crore through open market borrowings.

Other five states that have also completed the ‘Ease of Doing Business’ reforms are Andhra Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and Telangana. These six states have been granted additional borrowing permission of total Rs19,459 crore.

The scheme was started by the Centre in May 2020, under which it decided to link grant of additional borrowing permissions to states undertaking the ease of doing business reforms.

These reforms are completion of the first assessment of ‘District Level Business Reform Action Plan’; removal of the need to renew or approve registration certificates or licences obtained by

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Good News! Business Owners Who Took PPP Will Get to Deduct Expenses After All

Erwin Oropesa

The 2020 tax season now looks a lot less bleak for those business owners who used Payroll Protection Program (PPP) money to cover their expenses to keep going during the coronavirus pandemic. On Dec. 21, Congress clarified rules on the program’s tax ramifications, leaving thousands of small-business owners the winners.

The months-long battle between the legislators who wrote the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the IRS appears to be over. (To read about the fight and how it affected business owners, check out IRS Leaves Business Owners Who Took PPP in a Tax Quandary.) Both the House and Senate have voted to approve the “Consolidated Appropriations Act, 2021.” Now it awaits President Trump’s signature, and while there is renewed wrangling going on about the bill, the dispute is about the amount of the stimulus payments, not the deductibility of business expenses.

Among

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U.S. lenders score small business relief, accounting help in pandemic package

Erwin Oropesa

TipRanks

Goldman Sachs Says These 3 Stocks Could Surge Over 30% From Current Levels

After a true annus horribilus, we’re all ready for better times. The US equity strategy team at Goldman Sachs, led by David Kostin, sees those better time ahead, and in the near-term. The team is predicting a 25% gain for the S&P 500 within the next 24 months – or to put it in absolute numbers, they believe the index will hit 4,600 by December 2022. Kostin lays out four clear reasons for believing that we’re at the start of another prolonged bull run. First, he notes the generally improving economic conditions; second, he points out corporate earnings growth; third, are the historically low interest rates, as the Fed sticks to its near-zero rate policy; and finally, there’s TINA, or ‘there is no alternative.’ Stocks are entering a virtuous circle, Kostin believes, as they offer the

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