Budget has laid emphasis on increasing social spends
All these measures will revitalise the manufacturing sector, which has been in doldrums.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
Budget fails to cheer realty players.
The Bench did not agree with the submission that in the past, Centre had postponed presentation of Budget due to assembly polls.
Jaitley's fifth Budget has provided little relief to the middle class.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
The finance minister defended the change in the tax rates.
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
More funds are expected to be allocated for the new crop insurance scheme, PMSKY and RKVY.
Post Office has 1,54,000 rural branches.
The diesel variant offers fuel economy of 26.59 kmpl.
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
The Budget shouldn't be stuck on fiscal numbers, the PMO apparently said.
This finance minister has come of age. That's not condescension. It is a praise, says Omkar Goswami.
Budget 2014 is a strong first step to slowly re-architecting and reviving our economy and transform India, says Rajeev Chandrasekhar.
The people of the nation co-operated and patiently waited for the government's promised "ache din", and now they want their just rewards, says Adhil Shetty.
DLF Ltd on Friday said it was reviewing an order from the country's market regulator that fined the company and its top management $8.4 million.
Finance firms in these SEZs likely to get tax breaks.
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
The rupee bounced back by 10 paise to end at 68.62 on Friday.
There has been nothing consolidated in the Budget for this section that may transform entrepreneurship in any meaningful way
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
The Rail Budget is full of hollow promises, the Congress leader said.
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
It is a Budget 'high on promises but low on design,' the agency said.
Two stock market experts discuss their wishlists for Union Budget 2017 with Rediff.com's Aslam Hunani.
Aditya Birla Money MD talks about liquidity concerns in the market.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
20 new industrial clusters will be developed in 2014-15.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
Former Railway Ministers were not on the same track as incumbent Sadananda Gowda, calling the Rail budget "pro-rich" and a " Modi gadget" which has nothing new to offer.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
Railway Minister Suresh Prabhu presented the Railway Budget at the Parliament on Thursday.
