A good tax system should minimise the cost of collection, compliance cost and the cost to the economy in terms of the distortions it creates while generating revenues.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
'What is unusual about the current period of slow growth is that it has come without an external driver -- high oil prices and/or successive monsoon failures -- as was the case with all previous periods of slowdown, going back 50 years, notes T N Ninan.
FM may increase income-tax exemption limit to Rs 3 lakh
The high deficit was bad enough, Parliament's standing committees won't be scrutinising budget proposals either.
Under the 2009-10 Budget, FBT has been abolished. While this is going to be received very favourably by the finance departments at companies, the impact on your personal finances might not be the most optimal for you.
Employment generation in the midst of a global meltdown will be the central idea of the Interim Budget that the United Progressive Alliance will present on February 16, just ahead of the general elections.
FM's decision to make PAN card a neccessity for financial transactions has worried life insurers, who will find it difficult to tap rural India with this requirement.
Railway Minister Lalu Prasad has drawn up an integrated security plan for the railways.
Ambassador Venu Rajamony, who served as press secretary to President Pranab Mukherjee during his tenure, salutes the statesman and political legend, who passed into the ages on Monday.
With the Congress already opposed to the proposed law, regional parties might become the swing factor, says T N Ninan.
Addressing his first rally in the national capital in the run-up to the February 8 Delhi Assembly polls, he said the current environment in the country, the hatred, the violence and the attacks on women were harming India and people were not benefitting from it.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
India's cargo trains run at 19-30 km an hour, they run at 120 km in China - and the difference is only growing.
'Is this the only way for India to become a $5 trillion economy?' 'When you have unused foreign exchange here, why borrow more dollars?'
As far as personal taxation goes, there were positive changes overall, even if the magnitude might not have been as high as expected. Here are 7 changes that you will be affected by:
The removal of 10 per cent surcharge on direct taxes to cost Rs 10,034 crore.
The Sensex opend almost unchanged at 9,637 - up two points. The index, thereafter, soon slipped into red and was down around 75-odd points before the acting finance minister Pranab Mukherjee started his Interim Budget Speech.
He said most of the states where farmers were committing suicide were being run by Congress or its United Progressive Alliance constituents. "We (NDA government) had left the country in a healthy economic state. Now things are bad," he alleged.
India's fiscal deficit grew from 2.7 per cent to 6.8 per cent of GDP, Finance Minister Pranab Mukherjee said.
The major beneficiaries have been the ministries of roads and highways, railways and power
Sena said Jaitley had had merely repackaged old schemes as new in his budget presentation.
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
Move to shift powers from RBI without discussions baffles many
It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
Most of the scanty 6.35% rise in the defence budget is accounted for by manpower and running expenses.
Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people: FM
Delhi Police Crime Branch raided the office of a petrochemical co.
The import tariff value is the base price at which the customs duty is determined.
Jaitley said the government has been able to improve its budgeted expenditure.
If the finance minister's tax proposals have stimulated demand at all, it's for CAs, notes Kanika Datta.
Individual tax payers will save only Rs 1,000 more a year following the government raising the tax exemption threshold by Rs 10,000 to Rs 1,60,000, whereas the benefit for senior citizens (65 years and above) will be higher at Rs 1,500.
At the end of the day what counts is that Nabard has been rewarded with the management of another Rs 500 crore
Hyundai Motor India and General Motors have announced cuts in prices of their small cars, following the finance minister's announcement of excise duty reduction on small cars
A look at education consultants, educational loans and other ways to manage the steep costs of internatinal studies.
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