More services such as ATM operations are proposed to be brought within the service tax net.
'If the Chinese intent is to be gauged based on its aggression in the South China Sea, greater forays in the Indian Ocean, a hawk's attitude towards Taiwan, flying its fighters repeatedly over the Senkaku islands in the East China Sea and creating strategic assets globally, there would be a requirement for strategic partnerships for India,' says Brigadier S K Chatterji (retd).
The government on Monday sought Parliament approval for gross additional expenditure of Rs 44,945 crore in the current financial year. Of this, the net cash outgo will be Rs 19,812 crore, while the rest will be met by savings of the ministries or enhanced receipts. A significant part of this additional grant would be spent on food and fertiliser subsidy.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
The Union Budget seems to have elicited a starkly opposite view from rural India compared to urbanites, says Mahesh Vyas.
In India elections are never fought in a straight line. It's fought on many issues, at many levels, with multiple emotions and with a bit of good luck, too. Sheela Bhatt reports from Rajasthan.
Capex for next year expected to be up 25% to Rs 3 lakh crore
The worst of recession could coincide with the run-up to the elections.
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
Siddaramaiah, who hails from the shepherd Kuruba caste, holds the record for presenting the highest number of Budgets in Karnataka -- 13 so far. He has often spoken about how he was mocked in 1994 before he presented his first Budget. 'Some people asked, "Can he count sheep?",' Siddaramaiah told a regional news channel.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
The new government may enhance the Plan expenditure for 2014-15 by around Rs 11,000 crore (Rs 110 billion) in the Budget next month, which would be about 2 per cent higher than what was provided in the previous fiscal budget.
The net direct tax collections jumped by 18 per cent to Rs 43,391 crore during the first two months of the current fiscal.
Arun Jaitley opted for a fiscal deficit of 3.9% in 2015-16.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
Revenue from its IT services business rose 9 percent to $1.86 billion.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
The rating agency also expects merchandise exports to grow by 8-10 per cent in the next fiscal year.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
Australia's state of Victoria will not host the 2026 Commonwealth Games due to projected cost overruns.
Railways to have functional autonomy, bear salary burden
Anticipating an adverse impact in view of a bad monsoon, Finance Minister Pranab Mukherjee on Tuesday set an ambitious direct tax collection target for the current fiscal, revising it upward to Rs 4 lakh crore, up Rs 30,000 crore (Rs 300 billion) over the Budget estimates.
The government on Tuesday exuded confidence that revenues from sale of spectrum for 3G telephony and broadband may touch Rs 50,000-55,000 crore (Rs 500-550 billion), beating the budget estimates of Rs 35,000 crore (Rs 350 billion).
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
India's fiscal deficit shot up over 23 per cent to Rs 3.80 lakh crore in the first eleven months of this fiscal
India's fiscal deficit soared by 34 per cent to Rs 3.5 lakh crore in the first ten months of the financial year against Rs 2.62 lakh crore a year ago, mainly on account of the stimulus measures taken by the government to prop up the economy hit by the global financial crisis.
The Economic Survey states that the rationalisation and reprioritisation of subsidies through better targeting would play a vital role in fiscal consolidation and in targeting expenditure more towards inclusive development.
NSO Group, an Israeli surveillance software company, has been under increasing attack following allegations that its Pegasus phone spyware was used for surveillance on journalists, activists and political leaders in several countries including India. NSO has denied any wrongdoing.
