Sensex firm on favourable GDP numbers for FY16.
Jaitley, who was the finance minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and final Budget of the Narendra Modi government before the general elections. In his absence, the charge of the ministry was given to Railways Minister Piyush Goyal.
While the five years of the Modi government have indeed seen a healthy increase in PSUs' outlay and the Budgetary support for them, the next year's numbers reveal the squeeze in the government's own resources even though it is expecting a much higher dividend income from the PSUs. These do not augur well for the PSUs in 2019-20 and the years ahead, unless these numbers are revisited and, hopefully, revised in the full Budget that will be presented later in July this year, says A K Bhattacharya.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
Export growth rate in first nine months of 2008-09 touched 17.1 per cent whereas the country's industrial production fell by 2 per cent in December, said Union Foreign Minister Pranab Mukherjee, who is holding additional charge of the finance portfolio, while presenting the Interim Budget for 2009-10 on Monday in parliament.
For the first eight months of the current financial year, the figure stood at Rs 7.17 trillion.
It is unclear if he would be renamed the finance minister soon after his return.
In yet another round of sops, Finance Minister Jaswant Singh on Wednesday said the exemption on dividend distribution tax to open-ended equity-oriented scheme of mutual funds should continue for full year beyond March 2004.
Air India stares at an operational loss of Rs 2,171 crore in 2014-15.
Families with tax-paying members, government employees, professionals, among those who have been exempted from the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
Sitharaman exhorted the states to work together with the Centre, stating that while the Union government sets the direction of economic growth, it is for the states to ensure effective implementation on the ground.
While presenting the Interim Budget 2014-15, the Union Finance Minister P Chidambaram said that in the next three decades India will become the third largest economy behind US and China.
While the five years of the Modi government have indeed seen a healthy increase in PSUs' outlay and the Budgetary support for them, the next year's numbers reveal the squeeze in the government's own resources even though it is expecting a much higher dividend income from the PSUs. These do not augur well for the PSUs in 2019-20 and the years ahead, unless these numbers are revisited and, hopefully, revised in the full Budget that will be presented later in July this year, says A K Bhattacharya.
Presenting the Interim Railway Budget 2009-10 in the Lok Sabha on Friday, the minister said this is in addition to the bullet train proposals between Delhi-Amritsar, Ahmedabad-Mumbai-Pune, Hyderabad-Vijayawada-Chennai, Chennai-Bangalore-Ernakulam and Howrah-Halida which were announced in 2007-08 Railway Budget.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
According to state government sources, not only did the governor insert some corrections, but he also initialled the final draft after those corrections had been made, reveals N Sathiya Moorthy.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
Jaitley is now a minister without portfolio in the Narendra Modi government.
'Modi is now the biggest messiah of OBCs and Dalits as V P Singh once was.'
The government's dependence on debt has come down from 27 paise in the previous Budget to 25 paise in the coming year, reflecting ease of pressure on revenue collections.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
The Union Minister of Railways, Lalu Prasad while presenting the Interim Railway Budget 2009-10 in the Lok Sabha on Friday, announced the introduction of 43 new trains which include four Garib Raths.
'While GST and demonetisation are likely to cause disruption for longer than the market currently expects, they can have meaningful positive impact over the medium-term.'
India's foreign direct investment inflow between April and November 2008 was $23.3 billion, a growth of 45 per cent compared with that during the same period in 2007, said union Foreign Minister Pranab Mukherjee, who is holding additional charge of the finance portfolio while presenting the Interim Budget for 2009-10 on Monday in parliament.
Presenting the Interim Railway Budget 2009-2010 in the Lok Sabha on Friday, the minister said that Palej, Panoli, Kosamba and Kim in the districts of Surat and Bharuch in Gujarat, Roshanara Garden and Sultanpuri in Delhi, Shastrinagar and Model Town of Ludhiana in Punjab and Vasarpadi in Tamil Nadu will be considered on priority for construction of ROBs and RUBs.
The perception is rapidly gaining ground that though the chief minister is from the Shiv Sena, the government is being run by the NCP.
Insisting that PM Modi has consistently cared for the farmers, Goyal said the Rs 75,000 earmarked for paying Rs 6,000 per annum to each of 12 crore farmers is not one time but a 'sustainable' provision.
Caution prevailed across the bourses ahead of the Union Budget.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
India's gross domestic savings rate increased from 29.8 per cent in 2003-04 to 30.7 per cent in 2007-08, said union Foreign Minister Pranab Mukherjee, who is holding additional charge of the finance portfolio while presenting the Interim Budget for 2009-10 on Monday in parliament.
The minister said that the objective of larger investment is to increase the transport capacity of the Railways and to reduce the unit cost of operations. Railways' investment outlays have been stepped up from Rs 13,394 crore (Rs 133.94 billion) in 2003-04 to Rs 36,773 crore (Rs 367.73 billion) in 2008-09.
Presenting the Interim Railway Budget 2009-10 in the Lok Sabha on Friday, he informed that the number of consequential accidents came down to 194 in 2007-08, as against 325 in 2003-04.
The workers' union has accepted the '10-step' pay hike to be granted to them by way of an interim measure by the civic transport undertaking's management.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
The overriding objective of the National Investment and Infrastructure Fund (NIIF) must be adequate economic return, not financial return.
'Reports in a section of media regarding Union Minister Shri Arun Jaitley's health condition are false and baseless. Media is advised to stay clear of rumour mongering,' Government Spokesman Sitanshu Kar tweeted.
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The railway minister said that one-third studies have already been done.
The court was hearing petitions challenging the Aadhaar scheme.
