The Union Budget 2023-24 was presented against the backdrop of some critical geopolitical developments and was the last full budget before the next general elections. Signicantly, 2023 is also the year in which India became the most populated country in the planet and assumed G20 presidency. The Budget served as …
New Delhi Finance Minister Pranab Mukherjee proposed trimming the government's subsidy burden and called for speeding the pace of economic reforms, which have been stalled by political gridlock, in his Union Budget 2012-13 speech on Friday. High oil prices have swelled India's subsidy burden to roughly 2.5 percent of GDP …
Finance Minister Pranab Mukherjee, presenting the 2012 budget on Friday said the growth of the Indian economy, estimated at 6.9 per cent during this fiscal year, was “disappointing”. “The global crisis has affected us. India’s gross domestic product (GDP) was expected to grow at 6.9 per cent in 2011-12, after …
India's businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set for release on Friday to trim the fiscal deficit. After a drubbing in recent state elections, the government has little …
New Delhi Food minister K V Thomas on Thursday ruled out clearance of food security Bill in the ongoing Budget session of Parliament, saying consultations are still on to sort out problems raised by states and that it can be taken up only in the next Monsoon session. “How can …
NEW DELHI: Finance Minister Pranab Mukherjee announced that school education will be exempt from service tax. He added that there will be a tax on all services except those 17 items in the negative list. Some infra construction services too have been exempt from service tax. Besides, service tax has …
NEW DELHI: Auto sector lashed out at the government for trying to impose higher tax on diesel cars, while preparing to cut duties on those imported from Europe. "What we expect from the upcoming Budget is that there should not be diesel tax. It is not the right time for …
NEW DELHI: Infrastructure will require Rs.50 lakh crore in 12th Five Year Plan, half of this from the private sector, Finance Minister Pranab Mukherjee said while presenting the Budget 2012-13. The Economic Survey 2011-12 said delay in infrastructure projects may affect competitiveness of the economy in long run and called …
Presenting Union Budget 2012-13, Finance Minister Pranab Mukherjee marginally raised the individual income tax exemption limit to Rs 2 lakh and said tax on income up to Rs 10 lakh per annum would be 20 per cent. Mukherjee was upbeat about the economy, stating it was expected to grow at …
The government will present its 81st Budget proposals in the history of Independent India, when Finance Minister Pranab Mukherjee reads out his taxation and other economic policies before Parliament on Friday. Individually, Mukherjee will present the Union Budget for the seventh time, the second highest by any Finance Minister. The …
New Delhi: In the face of a gloomy economy at home and global crisis abroad, the lowly services sector proved a savior with the backward Northeast region registering the highest growth in this segment, the much-awaited Economic Survey released on Thursday said. The Economic Survey for 2011-12 tabled by Finance …
Finance Minister Pranab Mukherjee today announced Rs 1,00,000 crore increase in the agriculture credit target to Rs 5,75,000 for the next fiscal and raised the outlay for farm sector by about Rs 3,000 crore. "Agriculture continues to be a priority to the government. The total plan outlay for agriculture and …
Confirming that the Centre would miss its fiscal and revenue deficit targets for 2011-12, the Economic Survey on Thursday called for a rapid fiscal consolidation in order to spur growth and also to prevent unemployment. “With a sharp decceleration in real GDP growth, particularly in the industry sector and continued …
NEW DELHI: "The Economic Survey serves as a vital input for the Budget and the 2011-12 report has 14 new ideas and alternative policy prescriptions," finance minister Pranab Mukherjee said on Thursday. The Economic Survey, a report card on the health of the economy in the past year, said rapid …
NEW DELHI: Railway minister Dinesh Trivedi appeared to be on the brink of losing his job within hours of presenting a budget that was hailed by Congress as "forward looking" but savaged by his own party, Trinamool Congress, as "anti-people" for proposing an across-the-board passenger fare hike. In a swift …
NEW DELHI, 16 MARCH: Following are some of the key highlights of the Union Budget 2012-13, presented by finance minister Mr Pranab Mukherjee in the Parliament today. *Tax burden for individuals to come down: Income tax exemption limit raised from Rs 1,80,000 to Rs 2,00,000; 10 per cent tax for …
Bhubaneswar: The State Assembly on Thursday witnessed uproarious scenes as both Opposition and Treasury Bench members engaged in verbal exchanges with Congress members occupying the Speaker’s podium on day two of the second phase of the Budget Session, leading to adjournment of the House eight times including five times in …
The Union Budget 2012-13 presented by the Finance Minister ShriPranab Mukherjee in LokSabha identifies five objectives to be addressed effectively in the ensuing fiscal year. They include focus on domestic demand driven growth recovery; create conditions for rapid revival of high growth in private investment; address supply bottlenecks in agriculture, …
Centre for Science and Environment (CSE) supports the tax hike on big cars and SUVs brought on by the Union budget 2012. Excise duty on large cars has increased marginally from 22 per cent to 24 per cent. MUVs and SUVs will attract higher duty – up to 27 per …
NEW DELHI, March 14 – It’s official. The ambitious national railway projects in North-east are likely to suffer further delays with Railway Minister Dinesh Trivedi, ruing a slash in budgetary support, confirmed that the national projects may get delayed for want of adequate funding. Presenting his maiden Budget on Wednesday, …
The rail budget announced on Wednesday had nothing to offer for the Tricity. Even as the residents were expecting some new trains to be introduced, there was not much that the budget had in store except increasing the frequency at which two trains ply from one day to two. The …
