Finance Minister Pranab Mukherjee had proposed to introduce a service tax of five per cent on hotel room charges and three per cent on air-conditioned restaurants that serve liquor.
Giving in to demands from Anganwadi workers, the government on Monday said it will double their remuneration while a special development fund for women self-help groups was also announced as part of its initiatives for the fair sex.
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. A look into the hihghlights.
Equity infusion of Rs 4,000 crore into Air India, proposed by Finance Minister Pranab Mukherjee in Union Budget 2012-13, will improve the debt-equity ratio of the airline to a level considered comfortable and help open the doors of banks for them.
We are emphasising on an agricultural growth of 4.5 per cent to achieve a 9 per cent GDP growth, says Finance Minister Pranab Mukherjee.
Move is to encourage investment in the infrastructure sector.
Pranab Mukherjee's speech was so boring that half of the Treasury benches were found napping. Newsmen peeped from the Press Gallery to see the mood of the MPs.
He was responding to a question whether there was any confusion in the government in the backdrop of National Security Advisor M K Narayanan's statement that Pakistan had reverted to India with a number of questions on the Indian dossier on the Mumbai terror attack. Narayanan's statement had contradicted the stand taken by Mukherjee.
Tougher to find today than two weeks ago, there are still a few value buys left in the market.
There are also concerns on the central government finances for the current fiscal, he said, adding, performance during the first half on the fiscal front poses some risks in both receipts as well as expenditure estimates.
In an hour-long chat on rediff.com on Thursday, DCW chairman Mudit Jain replied to many queries on how Budget affects the common people.
In an hour-long chat on rediff.com on Thursday, founding chairman & managing director of Country Club, India Rajeev Reddy analysed how good is the Budget for the common people.
In an hour-long chat on rediff.com on Wednesday, COO of Dun & Bradstreet, India Kaushal Sampat offered some tips. Here is the transcript:
Select life saving drugs, LCD TVs, mobile phones, branded jewellery, sports and leather products, packaged software and footwear are among items that would cost less, while gold bars and coins, silver, set-top boxes and cosmetic surgery would turn costlier after the Budget.
The NIA, which came into existence in February this year with the appointment of Radha Vinod Raju as its first director general, has to accomplish important tasks in next 100 days.
"To enable students from economically weaker sections to access higher education, it is proposed to introduce a scheme to provide them full interest subsidy during the period of moratorium," he said. However, only those students whose family income is less than Rs 4.5 lakh per annum will be eligible under the scheme. These students will avail the benefit for a moratorium period which is one year from completion of the course or six months from joining a job.
Here is a financial glossary of words and phrases linked to the budgetary exercise to help you manoeuvre your way through the maze that is the Budget.
Recommending an end to all cesses and surcharges on taxes, and free pricing of fertiliser and fuel ahead of the Union Budget for 2009-10, the Economic Survey on Thursday suggested aggressive divestment and financial sector reforms to bring the economy back to high growth track.
The Union Budget just a week away. While economists and analysts are busy making predictions about the biggest annual financial event in the country, common people are no less interested either.
Experts agree with the assessment that the Budget next month would respond to the predictions of deficient monsoon rains with a policy package. According to them, rain-fed areas, which are likely to be affected by a 'below normal' monsoon, could see increase in allocation in terms of higher spending through the public distribution system and the National Rural Employment Guarantee Scheme.
From April 1, 2010, section 80CCF would provide an additional tax deduction, over and above the existing 80C deduction, in respect to investments made in long term infrastructure bonds.
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.
The Maharashtra government will submit its proposal for purchasing electricity from Dabhol project, said Agriculture Minister Sharad Pawar, adding that the Centre will supply power at Rs 2.20 per unit.
The Court of Inquiry formed to probe sexual harassment charges levelled by Gupta against her three superior officers set the process of inquiry in motion in Bangalore on Monday.
Filing your income tax return will be easier this financial year (FY) 2009-10. Want to know how? Read on.
The government has given the Yadavs opposing the Women's Reservation Bill a face saver by which they can withdraw their agitation in the Lok Sabha and allow the House to function, and in return, the government has promised them nothing more than a dialogue and time to discuss the bill with Union finance minister Pranab Mukherjee, not even promising them an all party meeting.
Taking into account all the increases, inflation will be around 0.4 per cent in the wholesale price index, says Pranab Mukherjee.
While presenting the Union Budget for 2009-10, finance minister Pranab Mukherjee had said that in order to bring in tax reforms in the country the government will bring the new DTC within 45 days. The code will replace the existing Income Tax Act, which was enacted in 1961 and would subsume the direct tax legislations.
Borrowing at 29 paise will account for the largest share of every rupee that the government will use for financing the Union Budget 2010-11, while will it spend the most - 21 paise - on central plan.
Finance Minister Pranab Mukherjee indicated this to media persons during a lunch hosted by him at his residence in New Delhi on Saturday.
While Finance Minister Pranab Mukherjee is aiming for a return to the path of fiscal prudence, various departments of the central government appear to be out of sync.
The Congress initially was aspiring for a contest in 90 seats in West Bengal. However, it seems the party decided to settle for a compromise to keep the alliance alive.
The Survey presented by the Union Finance Minister, Shri Pranab Mukherjee in the Parliament on Friday states that the Indian economy remains the second fastest growing in the services growth with 8.9 per cent rate, behind China (10.5 per cent).
India is considering allowing new private sector banks, including by industrial houses, and a roadmap for the same could be announced in the annual Union Budget to be presented later this month.
India is considering allowing new private sector banks, including by industrial houses, and a roadmap for the same could be announced in the annual Union Budget to be presented later this month.
"The Group of Ministers (GoM) headed by Defence Minister Pranab Mukherjee has held several meetings. A solution is in sight," Union Power Minister P M Sayeed.
Direct tax expert Vikas Gandhi offers some valuable tax-saving tips.
In a chat on rediff.com, direct tax expert Vikas M Gandhi offered some valuable tax-saving tips.
In an hour-long chat on Thursday, direct tax expert Vikas Gandhi offered some valuable tips.
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