The finance minister's Budget Speech has come as a surprising blessing as he has maintained the rates as they were last year.
Finance Minister Pranab Mukherjee presented the Union Budget 2011-12 in Parliament on Monday. While the finance minister made the tax payers slightly happy by raising the exemption limit to Rs 180,000, he made many others unhappy.
Pranab Mukherjee said the government proposes to move various legislative Bills related to financial sector reforms.
The government on Friday said it is examining recommendations of the Parthasarathi Shome panel on controversial retrospective tax laws introduced in the last Budget.
Releasing the book Icons of Pune, which profiles young entrepreneurs from the city, Mukherjee said the city was country's economic hub, with an expanding automobile and IT sectors.
Jewellers remained firm over complete rollback of excise duty.
In an hour-long chat on rediff.com on Wednesday, experts Vinay Mahajan and Devang Mehta offered some valuable tips.
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
Finance Minister Pranab Mukherjee on Monday said that government has taken a conscious and bold decision to enhance the Gross Budgetary Support for the Annual Plan 2009-10 by Rs.40,000 crore (Rs 400 billion) over the Interim Budget for 2009-10.
To check price rise, the government is importing some of the commodities to bridge the supply-demand gap and strengthening mechanism for providing subsidised items to poor, finance minister Pranab Mukherjee said on Wednesday.
Mukherjee's statement comes in the backdrop of a sharp decline in Indian stock markets.
Finance Minister Pranab Mukherjee on Wednesday warned of greater sophistication in economic crimes and of its growing threat to national security.
The minister blamed ground realities like lack of majority of ruling party toward the failure of finally signing the Teesta water sharing deal.
Finance Minister Pranab Mukherjee will meet chiefs of public sector banks here on Saturday, at a time when industrial growth has decelerated to a 13-month low of 7.1 per cent and interest rates have moved northward.
Pranab Mukherjee proposed a separate entity for bank recapitalization.
Pranabda hasn't given us any indication of the tough period when he realised Sonia Gandhi had decided to give the presidency not to him, but to then vice-president Hamid Ansari. He wrested the presidency from her, and handed her the biggest defeat of her UPA years, observes Shekhar Gupta.
After conducting a few pilot studies, the government is in the process of introducing a new accounting system in a phased manner that would provide an effective way to track and assess assets created out of public money.
India's infrastructure financing requirements and the new manufacturing policy being finalised will open up $1 trillion opportunities for global investors over the next five years.
What effect is the Budget going to have on your daily life? Find out how what's cheaper and what's costlier after the Budget.
What effect is the Budget going to have on your daily life? Find out how what's cheaper and what's costlier after the Budget.
The government banks on the support of the Bharatiya Janata Party to push the Insurance and LIC Bills in the next Parliament session, but it seems to have adopted different tactics on the Goods and Services Tax (GST) Bill.
Market participants say the focus of Finance Minister Pranab Mukherjee will be on fiscal deficit, more so in the wake of the recent debt crisis in some Europeon countries.
The Customs tariff is much too complicated with basic Customs duty, two types of additional Customs duty and two types of cess.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
He further said that advanced tax collection and industrial production at 17.6 per cent in the month of March are very positive and encouraging.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
Finance Minister Pranab Mukherjee would also share his perception on exit strategy at the G-20 Finance Ministers' meeting in Scotland, starting from November 6.
Who will be India's new finance minister, when Dr Manmohan Singh will take oath as India's 14th prime minister on Saturday? Tell us.
'Politics is a game of public perception and my father felt that by his long disappearances, Rahul Gandhi was losing the battle of perception.'
Jewellery traders said the exemption of branded jewellery from excise duty will have a marginal effect on the traders as only few customers buy\nbranded jewellery.
The 2011-12 Budget has failed to bring cheer to the Indian IT sector as Finance Minister Pranab Mukherjee did not make any major announcements to boost the segment.
He sought to know from the industry if it wanted India to become a no-tax country.
The first meeting of the newly-constituted joint committee comprising ministers and civil society activists to draft the Lokpal Bill will be held on Saturday.
Amid the government's keenness to introduce Lokpal Bill in Parliament before the end of the winter session on December 22, the Union Cabinet on Sunday night had informal discussions on the much-hyped legislation which is expected to be taken up by the Cabinet formally on Monday.
Prime Minister Manmohan Singh on Saturday declined to disclose who will be Finance Minister Pranab Mukherjee's successor and whether the United Progressive Alliance government will have new partners. "I have been churning it in my mind," said Dr Singh when asked whether he has thought of Mukherjee's successor after his nomination as UPA's candidate for the Presidential elections.
Within hours of reports that Mukherjee himself was at the receiving end of such calls, Raja activated his ministry to take steps against such calls that 'encroach' into the privacy of telecom consumers, an issue that has been haunting every single consumer despite the regulator Telecom Regulatory Authority of India's attempts to ban such a nuisance.
A look at the key members who make the country's biggest fiscal package.
In an interesting development, Finance Minister Pranab Mukherjee who is very much in the news these days would be travelling by a special plane to Udaipur, Rajsamand and Nathdwara temple in Rajasthan, accompanied by Union Road and Transport Minister C P Joshi for a one-day trip to the state on Saturday.
Amid sagging business outlooks from various chambers, economists on Wednesday told finance minister Pranab Mukherjee that Budget 2012-13 should restore the confidence of investors.
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