On Thursday, Finance Minister Arun Jaitley announced a salary hike for the President and Vice President of India while making his Budget speech. Currently, President Ram Nath Kovind gets Rs 1.5 lakh per month while Vice President Venkaiah Naidu gets Rs Rs 1.25 lakh. Jaitley announced that as per the revisions the president and vice president would receive Rs 5 lakh per month and Rs 4 lakh a month respectively. Rediff.com takes a look at the salaries of other world leaders and sees how India stacks up in comparison.
Jaitley said India needed to grow by additional 1-1.5%.
We present here a graphic explanation of the Budget 2016.
The tax would create a single market in India for the first time.
There is some hope for these companies, with Finance Minister Arun Jaitley saying there was a need for legislative backing for private companies that were using Aadhaar. Adding that a careful reading of the judgment is required, Jaitley said this could be "temporary".
Finance Minister Arun Jaitley presents the current National Democratic Alliance government's fifth and arguably his toughest budget.
The 66-year-old finance minister underwent a successful kidney transplant surgery in mid-May and was on leave since April due to kidney-related problems and chest infection.
Graphic description of the Budget's allotment.
The decision has been taken following requests made in this regard by market participants as Budget contains several market-moving announcements.
As the finance minister rises in the House to present the Budget, some interesting facts about the annual financial plan for the country.
Madhu Bhargava watched the Budget presentation from the visitors' gallery.
Finance Minister Arun Jaitley said the Reserve Bank and the Finance Ministry have "very mature level of consultation" and it wasn't fair to comment on them.
Prime Minister hailed the Budget, saying it's practical, positive.
Addressing a business conference, Jaitley said it was important to stay on the path of reform and build momentum to achieve higher economic growth.
Battle lines have already been drawn and the opposition has insisted on a debate on demonetisation.
According to reports, eight hours have been allocated by the speaker for discussion on the tax reform bill.
Gross non-performing assets of public sector banks have gone up.
The finance ministry will kick-start the exercise to prepare the annual Budget for 2023-24 from October 10, in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, job creation, boosting demand, and putting the economy on a sustained 8 per cent-plus growth path. On Wednesday, finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth.
Irked by angry reactions to his Facebook post on 'World UFO Day' on Wednesday, Finance Minister Arun Jaitley withdrew the message within hours.
The hike will benefit about 48.41 lakh central government employees and 62.03 lakh pensioners.
Take Rediff.com's Pulse of the Nation poll and let India know about your expectations from the Budget.
Finance Minister presented the Budget in Parliament on Thursday.
Corporate tax is likely to be cut to 24%.
The Aam Aadmi Party on Sunday raised questions on the genuineness of Prime Minister Narendra Modi's degrees and claimed that they would turn out to be fake if a probe is conducted.
More and more states are organising investor summits, Jaitley said.
Finance Minister Arun Jaitley in the Budget for 2016-17 had proposed 1 per cent excise duty on jewellery without input credit or 12.5 per cent with input tax credit on jewellery.
Arun Jaitley presented the Union Budget in Parliament on Saturday.
How well do you know India's finance ministers?
The meeting, which comes just days before the next bi-monthly monetary policy review on June 3, lasted for about 50 minutes.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
There is concern in the organisation and the leadership over the unbridled criticism aimed at the Finance Ministry.
Jaitley described his three priorities as: strengthening India's firewalls by ensuring macroeconomic stability and prudent fiscal management; driving growth through domestic demand; and reforms to boost economic opportunity.
Gandhi on Thursday accused Jaitley of lying to hide the "free passage" he allegedly gave to Mallya to flee to London, while the ruling party counter-claimed that the Gandhi family had tried to salvage the sinking Kingfisher Airlines with a "sweet deal".
Officers from various departments including the finance ministry to be part of rehearsal event
Investors want lower securities tax, tax breaks on equity investments.
The words that appeared more often in the speech included tax, income, lakh and crore.
There are four public sector general insurance companies.
The Rohith Vemula suicide and the Jawaharlal Nehru University row continues to dominate the discussions in Parliament on Day 3 of the Budget Session.
Compared to peak levels early this month, prices of primary vegetables have declined up to 50%.
Investors and manufacturers have long advocated the GST.
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