The finance minister may stagger some of the recommendations.
He also said the city had a long way to go before it could reach the status of a global city, and said that greater autonomy and better governance of the city would ensure the global city status, says the finance minister.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs 23,000 crore (Rs 230 billion), less than half that estimated by Finance Minister P Chidambaram in his Budget speech. The share of this due to commercial banks is probably around Rs 6,000 crore (Rs 60 billion) the total overdue from all farmers to commercial banks is around Rs 10,000 crore (Rs 100 billion).
The Union Budget 2008-09 will leave more money in every pocket.
Government will roll out National Rural Employment Guarantee Act scheme in all the 596 rural districts in the country in 2008-09.
The government will cut the central sales tax rate to 3 per cent from 4 per cent from April 1 through a notification, as announced by Finance Minister P Chidambaram in his Budget speech.
A host of companies, including giants like Reliance Industries are rushing in to finalise their interim dividend payments to outsmart a hike in dividend distribution tax (DDT) proposed in the Union Budget.
The demand for ban on futures trading in more commodities is increasing day by day.
Minimum Alternate Tax (MAT) has been extended to income in respect of which deduction is claimed by companies under Section 10A & 10B of the Income Tax Act.
It was noise and pandemonium all around but Lalu Prasad Yadav's Rail Budget speech chugged on in the Lok Sabha on Monday non-stop till it reached its destination.
Passengers can now dial 139 for rail information from any part of the country.
It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
Most of the scanty 6.35% rise in the defence budget is accounted for by manpower and running expenses.
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
The divestment department has lined up a host of companies.
The Dipam will work under Finance Ministry.
Mauritius promises India full-cooperation on tax treaty issues.
Jaitley said the government proposes to establish a National Testing Agency as an autonomous and self-sustained premier testing organisation to conduct all entrance examinations for higher education institutions.
The National Bank for Agriculture and Rural Development, the apex financial institution for rural finance, will raise Rs 5,000 crore (Rs 50 billion) through capital gains bonds in financial year 2007-08.
Just a day after the Budget 2007-08, Finance Minister P Chidambaram asked the industry to 'hold the price line to contain inflation' on Thursday.
They will be remanded to 11 days judicial custody.
The allocation was part of the budget 2014-15 presented by Finance Minister Arun Jaitely on Thursday.
Finance Minister Arun Jaitley announced in his maiden Budget Speech that government would focus on campaigns to sensitise people of this country towards the concerns of the girl child and women.
If the finance minister's tax proposals have stimulated demand at all, it's for CAs, notes Kanika Datta.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
On the first day of the new financial year, there was a sense of dj vu in the power sector. As has been the case for the last many years, the capacity addition during the year, of 9,263 Mw, is a little over half the target of about 17,000 Mw.
Payment in cash for buying goods and services worth more than Rs 2 lakh with the exception of jewellery will attract 1 per cent tax collected at source (TCS) from Wednesday.
The train is scheduled to be flagged off on October 4.\n\n
The idea is to monitor centrally sponsored schemes, partly funded schemes, loans, programmes and any other endeavour into which funds are pumped.
Under the Bhavantar Bhugtan Yojana, the state pays a portion of the loss incurred by farmers for selling below the MSP, capped up to a limit.
Government will provide a short window of a "few months" to income tax assesses to come clean by declaring their money and assets stashed abroad.
Finance Minister Jaswant Singh will present the Union Budget for 2003-04 in Parliament at 1100 hours on Friday, it was officially announced on Thursday.
Folding ladders would be made available in coaches.
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