Foreign brokerage Goldman Sachs on Monday said it expects new Finance Minister Arun Jaitley to peg the fiscal deficit target for FY15 at 4.3 per cent, up from the 4.1 per cent stated by his predecessor P Chidambaram.
In a major bonanza to the salaried class, the government on Friday proposed to increase the income tax exemption limits from Rs 1.10 lakh to Rs 1.50 lakh, in addition to restructuring the tax slabs.
This is the same level as the peak rate of the Association of South East Asian Nations.
Jaitley's fiscal arithmetic, Crisil said, is "shaky", and the scope for fiscal slippage "remains high".
The government on Friday announced that six AIIMS-type medical institutes would be set up in the country and nine more state government medical institutes upgraded to the world-class level.
but it had a mixed view on the new tax proposals burdening the capital market.
The ruling DMK in Tamil Nadu had begun seeing Governor Ravi's decisions and actions as a part of the state BJP's non-stop criticism of its government and directed from Delhi, a view strengthened by the governor's decision to return the NEET exemption bill, points out N Sathiya Moorthy.
Facing an annual loss of a whopping Rs 300 crore (Rs 3 billion), shipowners have pleaded with the finance ministry to keep them out of service tax net and exempt them from withholding and fringe benefit taxes.
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India's economic growth slipped to decade low of 5 per cent in 2012-13 and in the current fiscal it estimated to be around the same level.
Left parties on Monday opposed any increase in petrol and diesel prices in step with the hike in global oil prices and higher taxes, and asked the government to restructure duties to protect the consumers.
The rapprochement could open the door to an anti-saffron alliance for the 2019 general elections, reports Archis Mohan.
Leading softdrink manufacturers like Coca-Cola and Pepsi on Friday asked the government to abolish eight per cent special excise duty on aerated soft drinks to help them bring down prices.
The obvious temptation for Mr Jaitley would be to achieve a better fiscal deficit figure than what he had promised in July.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Finance Minister P Chidambaram has said that further opening up of telecom sector and Indian private banks to FDI was 'pretty close' and will be done in the next few days.
Finance Minister P Chidambaram said revenue deficits would have to be wiped out first in the economy.
More services such as ATM operations are proposed to be brought within the service tax net.
'The Congress has finally drawn a line in the sand over its pro-poor credentials.'
'The rich better watch out.'
Seeking to dispel the perception of gloom and pessimism, Finance Minister P Chidambaram on asserted in the Lok Sabha that rupee will correct itself and the growth will bounce back.
Government on Thursday approved the Taxation Laws (Amendment) Bill to protect the interest of donors.
The deduction of Securities Transaction Tax on trade in equities will come into force in major bourses from October 1.
Dollar sales by exporters and firm local equities also supported the local currency.
