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.
External commercial borrowings to the extent of USD 1 billion to be allowed for aviation sector for next year.
The Budget came in a period when good news was otherwise scarce.
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.
Suresh Prabhu's maiden Railway Budget presentation, peppered with personal references and quotes, turned out to be a smooth affair.
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.
While presenting the Budget for 2022-23, the finance minister also said the strategic transfer of Air India ownership has been completed and strategic buyer for (Neelachal Ispat Nigam Ltd) NINL has been selected. National Asset Reconstruction Co Ltd (NARCL) has commenced its activity, Sitharaman added.
Union Railway Minister Dinesh Trivedi on Wednesday announced a marginal hike in passenger fares.
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.
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.
In a live chat on rediff.com to be held on Friday, July 11 at 4 pm, well-known equity specialist Devang Mehta will help you understand what effect the Budget will have on the stock markets -- from how NOT to lose money in the markets to which are the safest stocks.
Finance Minister Arun Jaitley on Monday did not change tax slabs but offered a relief of Rs 3,000 to the salaried with income below Rs 5 lakh per year.
Mumbai locals will get a swanky look with state-of-the art coaches.
Buying had been muted in the past few weeks.
Fiscal consolidation is keenly awaited.
'After the presentation of the Budget, the House will be adjourned.'
At present, workers whose basic wage at the time of joining is up to Rs 6,500 per month.
Finance Minister Nirmala Sitharaman on Tuesday said the country's economic growth is expected at 9.2 per cent in the current financial year, on the back of a sharp rebound in the economy. She also said virtuous cycle of investment is expected to revive on account of capex (capital expenditure) and crowd in private investment. "Government focus since 2014 is on poor and marginalised.
Shipping: Policy to increase India flagged tonnage soon
GST will lead to consolidation of multiple indirect taxes
On the macro front, market participants will closely watch the FY'15 fiscal deficit target
The ministry had spent 82 per cent of that amount till the start of this month.
The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it will boost the sector. Of the total allocation for the next fiscal, a significant amount of Rs 350 crore has been provided for digitisation of Primary Agriculture Cooperative Societies (PACs), while Rs 274 crore for an umbrella scheme 'Prosperity through Cooperatives' which would have a number of sub-components with the aim of all-round development of cooperatives in the country. For the first time, a separate budget of Rs 11 crore has been provided to Vaikunth Mehta National Institute of Cooperative Management (VAMNICON).
The amount allocated for 'Tour Expenses' has been fixed at Rs 259 crore.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.
However, the budget lacked very specific measures detailing how this will be achieved," the statement said.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
FM is likely to raise tax slabs.
Spotlight likely on cement, metals, road cos
The day, being a Saturday, may add to trading volumes and volatility
The idea is to monitor centrally sponsored schemes, partly funded schemes, loans, programmes and any other endeavour into which funds are pumped.
Two out of three times, the market has delivered positive returns.
The biggest focus area turned out to be 'investment'.
