Credit rating agency ICRA on Tuesday warned that fiscal deficit will cross 4.8 per cent of GDP during 2003-04, as it was projected by the government in the interim budget.
In a bonanza to its employees ahead of the ensuing Lok Sabha elections, the government on Friday decided to merge 50 per cent of dearness allowance with the basic pay
Finance Minister Jaswant Singh on Tuesday projected a growth of 7.5-8 per cent for the fiscal 2003-04 in the face of strong economic fundamentals.
Finance Minister Jaswant Singh on Tueday presented the Interim Budget for 2004-05 in the Lok
Around 40 per cent of the country is staring at drought-like conditions ahead of the monsoon as water levels have receded sharply.
The government of India had budgeted to bring down fiscal deficit to 4.8 per cent of GDP in the current financial year, from 4.9 per cent in 2012-13.
The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
This time, five states, including Tamil Nadu, have requested the Centre to delay the pay hikes.
Railway Board chairman SS Khurana, in an interaction with the media after the Interim Rail Budget, said the railways would lose Rs 700 crore (Rs 7 billion) annually following the fare cut. He also pointed out that the ministry would continue to optimise freight earning through its dynamic pricing policy.
'On the tax front, most of the Budget proposals are sensible'.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
No increase in passenger and freight fares. Ticket reservations over mobile phones to be introduced soon.
Railway Minister Lalu Prasad on Friday presented a populist interim Railway Budget in Parliament.
Ad rates on regular days are less than half, media planners said.
A total of 5,400 unmanned level crossings were eliminated in the last one year.
Jaitley is now a minister without portfolio in the Narendra Modi government.
Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3.
Governments make budgets to retain and consolidate their hold on power, not to please opponents or economists. They do so by trying to gratify as many as possible without causing harm to the others, says Shreekant Sambrani.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
Union Budget 2015 cuold have included few smaller reforms.
Inflation is on a declining trend, Eco Survey stated.
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
The review will not only present data, trends but also list out the achievements of the Narendra Modi government
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
Within the next two years, verification and scrutiny of returns will happen electronically through anonymised back offices manned by tax experts and officials. It will function without any personal interface between taxpayers and tax officers. Both the taxpayer and the tax officer will not know each other -- who is scrutinising whose return, and at which place, points out Kuldip Kumar, partner and leader personal tax, PwC.
Government's objective is to bring down the cost of cultivation through efficient use of fertilisers and agro chemicals, and increase in realisation. It is, thus, planning to connect 200 agricultural mandis with electronic National Agricultural Mandis this year and 225 next year, to enable farmers to sell their produce hassle-free online.
Finance Ministry is considering to sell 5 per cent stake in ONGC in the current fiscal, which could garner about Rs 17,000 crore to the exchequer.
With the new pension system attracting lukewarm response from citizens, interim regulator PFRDA today expressed hope that the Budget would provide tax exemption to individuals at the time of entry to encourage them to opt for the scheme.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
Modi slammed the opposition alleging they "remember farmers once in 10 years -- just before elections".
The finance minister defended the change in the tax rates.
It was 55.3 per cent for the same period last year, and data shows the fiscal deficit for April-May was kept in reasonable check in spite of heavy frontloading of expenditure.
Nirmala Sitharaman's maiden Budget has not disappointed but vision and details, particularly for the revival of agriculture, are missing.
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