Finance Minister P Chidambaram has ruled out any more sops for the exporters hit hard by the rising rupee, asking them to get used to stronger currency as dollar inflows would continue to grow.
Industry captains share their views on the Budget.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday. Income Tax rates were kept unchanged.
Finance Minister P Chidambaram on Monday slashed excise duty on cars, SUVs and two-wheelers, and capital goods and consumer durables.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
P Chidambaram presented the Budget for the 9th time.
It added that following this, the Department of Ex-Servicemen Welfare of Ministry of Defence vide communication dated November 7, 2015, conveyed the policy of OROP for the defence force personnel.
Naidu informed the House that he had received letters from Singh and 13 other MPs seeking leave of absence on medical grounds.
Like other inmates, he will also have access to the prison's library and can watch television for a specified period.
Finance Minister P Chidambaram on Monday sought to lighten the burden on the middle class by lowering excise duty on cars, SUVs and two-wheelers and proposed no increase in taxes on other products.
The CBI suspects that Chidamabaram and his son Karti also received kickbacks from other companies.
The court directed Tihar authorities to provide Chidambaram with medicines, western toilet, security and separate cell.
India Inc on Monday said that the Interim Budget was 'absolutely' up to the expectations.
The action came after investigations carried out by an inter-ministerial committee formed by the home ministry in 2020.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday.
He was produced before the court after the Supreme Court refused to entertain his plea challenging the Delhi high court order which had dismissed his anticipatory bail plea in the corruption case lodged by the CBI arising out of the INX Media scam.
Her expression of strong support to Chidambaram, who has also been a home minister, came a day after the Delhi high court refused to grant him any protection from arrest in the INX media case.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
Finance Minister P Chidambaram on Wednesday said it was doubtful whether any key legislation, except for the vote-on-account, would be passed in the current session of Parliament.
All public sector bank branches will have an automated teller machine by March 31, 2014.
The Congress leader gave the statement when he was asked what he has to say after the court order.
Swiss govt's latest response comes against the backdrop of P Chidambaram shooting off another letter to his Swiss counterpart.
This is Chidambaram's third letter to Swiss Finance Minister Eveline Widmer Schlumpf within four months on this matter.
It may widen because of money outflows.
Chidambaram said the government will not go back on its decision to raise gas prices for both public sector and private producers from April 1.
Modi, however, welcomed the announcement of 'one rank-one pension' for defence forces.
Finance Minister P Chidambaram on Monday attacked Bharatiya Janata Party's prime ministerial candidate Narendra Modi saying there are "deep flaws" in his character and warned people against the "danger" from one individual taking over the party, cabinet and government.
Finance Minister P Chidambaram's road show in Singapore highlighted India's strong growth and investment prospects.
Many PSU banks had recently cut interest rate on loans for two-wheelers and consumer durables.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Foreign institutional investors added $20.10 billion in equities while they pulled out $7.97 billion from the debt market, resulting in total net flows of $12.13 billion.
The issue of alleged tax evasion by Indians through banks and other entities in offshore locations, specially Switzerland, has been matter of a political debate in India.
Excise duty on small cars is cut to 8 per cent where as the tax on large- and mid-sized cars has been brought down to 20 per cent.
Interim Budgets are usually presented in an election year either just before the general polls or immediately after them.
He said the total capital requirement for state-run banks is Rs 455 billion ($7.6 billion) in 2014/15 fiscal year, much lower than the Rs 113 billion provided for recapitalisation in the interim budget in February.
The minister further said that he received a reply on his letter from his Swiss counterpart and will send India's response in the next few days.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
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