A panel has recommended that the RBI should bring down CPI inflation to 4 per cent.
The government seems to have come to the rescue of potential car buyers.
The price reduction by Nissan is in the range of 4 to 6 per cent.
Modi, however, welcomed the announcement of 'one rank-one pension' for defence forces.
The finance minister could review customs duty on crude oil, other exemptions.
The government will have to allocate more resources for banks in the Budget.
In yet another round of sops, Finance Minister Jaswant Singh on Wednesday said the exemption on dividend distribution tax to open-ended equity-oriented scheme of mutual funds should continue for full year beyond March 2004.
The global rating agency has, however, cautioned that India's fiscal position remains 'weak'.
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.
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.
No major announcements or tariff changes for freight or passenger segment likely to be announced.
There is logic at work in most of what has been announced by Arun Jaitlley.
The government would take a number of steps to energise and deepen the country's corporate bond as well as currency derivatives market.
The key numbers in Mr Jaitley's Budget will be looked at closely to assess the extent of revisions they represent over what Mr Chidambaram had presented in February.
The auto industry body has been lobbying hard with the government for extension of the reduced excise rates.
The finance minister presented the Interim Budget for 2004-05 in the Lok Sabha on Tuesday.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Price reduction by auto buyers leads to only a marginal rise in enquiry level.
Auto makers Tata Motors and General Motors India on Monday announced they will cut prices of their products after Finance Minister P Chidambaram decided to reduce excise on automobiles in the interim Budget 2014-15.
The final Budget for the fiscal is likely to be tabled in July after formation of the new government.
He could be doling out more funds to woo voters and tax cuts to support industry.
Presenting the Interim Railway Budget for 2014-15, Railway Minister Mallikarjun Kharge on Wednesday announced that new trains will be introduced.
The party's national general secretary, Mukul Roy, said, "This government has no moral or ethical right to place a railway budget."
However, the revised target, 16.7 per cent higher than stated in the interim Budget in February, looks unrealistic.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
Besides LTCG tax relief, permitting taxpayers to declare two houses as self-occupied brings a huge relief.
Total sale of vehicles across categories registered a growth of 13.22 per cent to 16,98,138 units in May 2014 as against 14,99,893 units in the same month a year ago, it added.
The economic logic - and political reasons - behind the giant shift of spending power to the states
The reductions will be applicable across Ford Figo, Ford Classic, Ford EcoSport, Ford Fiesta and the Ford Endeavour.
There is no doubt that agricultural gross domestic product may grow by 4.6 per cent this year.
He said the economy has 'clawed back' to 4.4 per cent in Q1, 4.8 per cent in Q2.
Even to the more jaded India hands inured to the tricks of the country's fiscal trade, an overwhelming element of jugaad - that desperate bid to somehow put the decades-old family Ambassador together for that one final ride - is apparent.
The vote-on-account is essentially a measure to seek Parliament's approval for government expenditure until the full Budget is presented.
The most worrying aspect of defence budgeting is that the military's long-term equipment planning is based on fundamentally flawed fiscal assumptions.
German car makers Audi and Mercedes-Benz on Monday cut prices by up to Rs 3.82 lakh, while Tata Motors and Mahindra & Mahindra announced their intent to follow suit after Finance Minister P Chidambaram reduced excise on automobiles in the Interim Budget for 2014-15.
While presenting the Interim Budget 2014-15, the Union Finance Minister P Chidambaram said that in the next three decades India will become the third largest economy behind US and China.
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