A health care savings fund must be introduced for all salaried employees similar to the PF scheme and it should be tax deductible.
The expansion of existing airports and development of new airports will continue expeditiously, Finance Minister Nirmala Sitharaman said on Thursday and emphasised that the country's aviation sector has been galvanised in the past 10 years.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday. Income Tax rates were kept unchanged.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
Finance Minister Nirmala Sitharaman on Thursday made a modest increase of 11 per cent in capital expenditure (capex) to Rs 11.11 lakh crore for the next financial year as private investment picks up. The government had hiked capex by 37.5 per cent to Rs 10 lakh crore for the current fiscal. Against this, the government expects to spend Rs 9.5 lakh crore in the financial year ending March 2024.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday.
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
Railway Minister Suresh Prabhu is all set to present his second Railway Budget on February 25.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
Madhu Bhargava watched the Budget presentation from the visitors' gallery.
"The Railway Minister has presented a very responsible, practical and implementable budget," Chidambram told reporters outside Parliament.
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
The government on Tuesday proposed to extend the period of incorporation of eligible startups by one more year till March 31, 2023 for providing tax incentives, a move aimed at encouraging budding entrepreneurs. Finance Minister Nirmala Sitharaman in her Budget speech said startups have emerged as drivers of growth for the economy and over the past few years, the country has seen a manifold increase in successful startups. Eligible startups established before March 31, 2022 had been provided a tax incentive for three consecutive years out of ten years from incorporation.
Trivedi presented the Railway Budget in the Parliament on Wednesday.
Rediff.com brings to you Finance Minister Pranab Mukherjee's Budget Speech Live from Parliament at 11.00 a.m. on February 26.
Suresh Prabhu presented the Rail Budget on Thursday.
The Railway Budget is progressive and wil ensure growth.
Barclays said Indian equities have had a strong first half.
Barclays said Indian equities have had a strong first half.
The Rajya Sabha was adjourned till Tuesday after the tabling of the Budget.
India has had 28 finance ministers since independence.
Finance Minister Arun Jaitley presented the Budget today.
Continuing on the fiscally prudent path, the Modi government in the interim Budget refrained from announcing populist measures, which will help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26.
For Railways Minister Suresh Prabhakar Prabhu, the Budget for 2016-17 on Thursday could well prove his toughest hour.
Modi said the Budget, on one hand, empowers the states and on the other, it manages national priorities.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
These will help to keep competition in check.
Out of Rs 86200.65 crore, Rs 83,000 crore have been allocated to the department of health and family welfare while Rs 3200 crore have been allocated to the department of health research.
Will this be a 'political' Budget? Or, will the Budget be able to take the country back to growth path?
Finance Minister presented the Budget in Parliament on Thursday.
The budget underscores government's previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, it stated. But the various spending initiatives are not offset by any significant announcements related to further increase revenue generation; rather, the announced revenue-related measures are aimed at other objectives such as fostering startup innovation, ensuring more equitable treatment for cooperatives and state employees, and promoting tax compliance through simplification, Christian de Guzman, a senior vice-president, sovereign risk group, Moody's Investors Service, said.
SIAM said excise duty must be lowered
Sinha, a former Finance Minister, said the hike put a 'big burden' on the people as it is 'steep'.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Mamata-wary corporate heads hope economics wins over politics in Budget.
Special status to Yoga by categorising its promotion as charitable.
German car makers Audi and Mercedes-Benz on Monday cut prices by up to Rs 3.82 lakh, while Tata Motors and Mahindra & Mahindra announced their intent to follow suit after Finance Minister P Chidambaram reduced excise on automobiles in the Interim Budget for 2014-15.
A look at things whose prices will change post Budget.
The court said that it would now consider the CBI's final report
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