'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
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.
The Union Budget for 2009-10 will reflect UPA government's ambitious agenda like Rs 3 kg rice or wheat for BPL families, enlarging NREGA coverage and more focus on infrastructure to bring the economy on high growth.
Parliament remained paralysed for the sixth day in a row on Monday due to protests from rival sides.
Her speech was laced with Hindi, Urdu, Sanskrit and even Tamil verses.
However, the finance minister did not oblige members in the Rajya Sabha with clarifications on his intervention in the debate on the issue of price rise, even when Communist Party of India-Marxist member Sitaram Yechury sought some more information.
Finance Minister P Chidambaram has announced several measures in the Union Budget 2013-14.
Accusing the Centre of setting a new trend of playing "dirty politics" for votes through the budget, an editorial in Sena mouthpiece 'Saamana' said the allocation of more funds to poll-bound states is a kind of "bribery".
While the finance minister made the tax payers slightly happy by raising the individual tax exemption limit to Rs 300,000, he made many others unhappy.
That he hasn't done so yet, has continued to be active on the political street, in public debate and on social media, signals an important change. It will give his party hope. Maybe the achievement of reducing Mr Modi well below the majority mark will now motivate him to stay committed, observes Shekhar Gupta
10 vacancies in the Upper House after Rajya Sabha members were elected to the Lok Sabha.
All meter gauge, narrow gauge sections to be made broad gauge.
In 2013-14, the Budget estimate is Rs 16,65,297 crore (Rs 16,652.97 billion).
There will be no second term for President Kovind and no elevation for Vice President Naidu.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
The government plans to borrow a record Rs 15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. A look into the hihghlights.
Encouraged by signs of growth revival and desperate to reduce the fiscal deficit Union finance minister Pranab Mukherjee is expected to take this step when he presents his Budget to parliament on 26 February.
India's new Finance Minister P Chidambaram has directed his ministry officials to be prepared to present the Union Budget on either July 2 or July 5.
British Prime Minister David Cameron suffered a stinging parliamentary defeat over Europe after Conservative rebels joined the Labour opposition to demand a cut in the European Union budget. The defeat on Wednesday night came after more than 50 rebels from the ruling party joined Labour Members of Parliament in supporting a demand for real-terms reductions in spending by the European Union. The government was defeated by 307 votes to 294, a majority of 13.
The duty hike on cigarettes by 16 per cent announced in the Union Budget 2023-24 would have a nominal impact of around 7-12 paise per stick across cigarette categories, according to experts. This upward revision in National Calamity Contingent Duty (NCCD) would have negligible impact on smokers and the companies could easily absorb the shock as it may not also have any resultant impact on margins, they said. Finance Minister Nirmala Sitharama in the Union Budget for 2023-24 on Wednesday proposed to revise and increase the duty on cigarettes to about 16 per cent.
Finance Minister Jaswant Singh will present the Union Budget for 2003-04 in Parliament at 1100 hours on Friday, it was officially announced on Thursday.
External Affiars and Finance Minister Pranab Mukherjee on Monday said the government cannot indulge in 'reckless borrowing' and did not have Parliamentary mandate to tweak taxes.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Leader of Opposition in Lok Sabha Mallikarjun Kharge on Wednesday criticised the government for proceeding with the presentation of the Union Budget after the death of E Ahamed, accusing it if delaying announcement of the news so that it could present the Budget without any hiccups
The Direct Taxes Code 2009 is now on the back burner. The Union finance ministry has veered round to the view that its bold move to reform direct taxes should be subjected to further scrutiny. Contrary to earlier expectations, therefore, the Direct Taxes Code 2009 will not be presented to Parliament as a Bill along with the Union Budget for 20010-11on February 26.
The Sports Ministry budget on Wednesday got a substantial hike of Rs 350 crore in the union budget for 2017-18, presented by Finance Minister Arun Jaitley in the Parliament.
Watch all the proceeding from the Parliament.
The next annual budget of India will have to be very carefully structured to sustain the country's growth momentum, Union Finance Minister Nirmala Sitharaman said on Tuesday, noting that it will also address inflation concerns. Visiting Washington DC to attend the annual meeting of the International Monetary Fund and the World Bank, the finance minister was responding to a question on the next year's Budget at a fire-side chat with eminent economist Eshwar Prasad at the prestigious Brookings Institute. "Specifics (of the next Budget) may be difficult at this stage because it's a bit too early. "But broadly, the growth priorities will be kept absolutely on the top. "Even as I speak about the concerns that inflation brings before me. So, inflation concerns will have to be addressed. "But then how would you manage growth would be the natural question," Sitharaman said.
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 government on Tuesday asserted in Lok Sabha that it was ready to discuss issues related to farmers both inside and outside Parliament amid vociferous protests by the Opposition which forced repeated adjournments of both the Houses.
In the Union budget, Rs 65,011.8 crore has been allocated to the Ministry of Health and Family Welfare, up from Rs 62,659.12 crore in 2019-20.
Parliamentary proceedings were disrupted for the third consecutive day in the Winter Session as opposition parties continued their protests over the Adani issue and violence in Manipur and Sambhal. Both the Lok Sabha and the Rajya Sabha were adjourned within minutes of convening, despite appeals from the Chair to engage in productive dialogue and refrain from disruption. The opposition members raised slogans demanding action against the perpetrators of violence in Sambhal, and sought discussions on allegations of irregularities against the Adani Group and the violence in Manipur.
"You (lawyer) tell us what provisions have been violated. Tentatively speaking, we don't find any material in support of the petition," a bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud said.
Asking the Congress members, who were on their feet, to maintain the decorum of the House and not show placards, Birla said they should let the House function.
The Budget session of Parliament started Monday with the President's address.
This is the Upper House's third best productive session in the last 14 sessions since the Monsoon Session (243rd Session) of 2017, the Rajya Sabha officials said.
Do you think the Budget is good? Will prices of goods drop or rise? Will the stock markets continue to soar? What else could Chidambaram have done?
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