Nasscom wants the Union govt to create a mission with initial seed capital of Rs 500 cr to promote entrepreneurship.
Will Finance Minister Arun Jaitley's Budget 2016 be able to put India on a growth trajectory?
Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site.
Giving some relief to tax payers, Finance Minister Pranab Mukherjee on Friday proposed raising the income tax exemption limit for individuals to Rs 2 lakh per annum from Rs 1.80 lakh.
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.
Economy is now turning around, manufacturing appears to be on revival, says FM.
The government on Tuesday announced central assistance of Rs 2.2 lakh crore over the next five years to meet housing requirement of 1 crore urban poor and middle class families under the Pradhan Mantri Awas Yojana-Urban and proposed interest subsidy to provide loans at affordable rates. In her Budget speech, Finance Minister Nirmala Sitharaman said, "Under the PM Awas Yojana Urban 2.0, housing needs of 1 crore urban poor and middle-class families will be addressed with an investment of Rs 10 lakh crore." "This will include the central assistance of Rs 2.2 lakh crore in the next 5 years," she added.
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.
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.
India's luxury trains are among the world's best.
All public sector bank branches will have an automated teller machine by March 31, 2014.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
Arun Jaitley declared proposal for a comprehensive law.
Smokers and tobacco consumers will have to shell out more for their indulgence as Finance Minister Arun Jaitley continued with the crackdown on cigarettes and tobacco products by increasing taxes in the Budget for 2017-18.
FM may increase income-tax exemption limit to Rs 3 lakh
Budget focuses on boosting investments in infrastructure.
BJP on Thursday said while claiming the exercise had brought back "hope" into the economy by charting a roadmap for the country's economic resurgence.
Without tinkering with the tax rates, Finance Minister Arun Jaitley in his maiden budget provided encouraging signals for domestic and foreign investors.
The Railway Budget for 2016-17 spared passengers and freight from any increase in tariffs.
It would be interesting to see what the government proposes to investors.
Passengers travelling in all AC classes and first class will have to pay charges in addition to the recent hike in train fares with the General Budget on Friday bringing journeys in them under the ambit of service tax.
Morgan Stanley expects the central bank to cut rates this week, 125 bps in cuts through 2015.
The Cabinet has already cleared two proposals that will receive support from the fund.
A roadmap for the consolidation of public sector banks will be outlined during the year.
Though the Railway Minister did not propose any increase in basic rail fares, the hike in reservation fees and supplementary charges will mean an increase of Rs 5 to Rs 25 in fares for all classes in superfast trains.
The railways recently successfully completed an experiment on the Delhi-Agra route for semi-high speed (up to 160 km/hr).
Attacking the government for a provision of a mere Rs 500 (Rs 5 billion).
In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
India's decrepit state-run train services stand to receive at least a 25 percent boost in investment to over $9 billion.
Do you think this move will help the BJP win the ensuing elections? Tell us.\n\n
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Government said consultations are on to arrive at consensus on allowing FDI.
'Make in India'presents a huge opportunity for jobs.
The minister wants maximum use of alternative fuel in rail operations.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
The Budget came in a period when good news was otherwise scarce.
External commercial borrowings to the extent of USD 1 billion to be allowed for aviation sector for next year.
Tax payers will be looking forward to some relief from Finance Minister Pranab Mukherjee who is expected to raise the income tax exemption limit to at least Rs 2 lakh in his budget proposals.
