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.
Says that he will re-look at all suggestions on indirect taxes and make announcements in Parliament.
Chidambaram in his Budget speech on February 28 proposed setting up of country's first all-women bank and had earmarked Rs 1,000 crore (Rs 10 billion) for this.
Overall, the budgetis positive for the Consumer Durables & Electronics Industry.
Finance Minister P Chidambaram has announced setting up of a new women's bank.
Critics call fiscal deficit projections ambitious; government to meet Opposition, chief ministers to discuss issues after Budget session
Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
Auto giants like Hyundai, Volkswagen and Nissan too will hike prices, even though no announcement has yet been made.
What does the Budget attempts to do?
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
You see him seated at meetings, looking a trifle lost, or mouthing homilies at government functions (the MAFA syndrome -- mistaking articulation for action). Other than that, he is both invisible and silent. This is no way to lead.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
Foreign institutional investors (FIIs), bearish till recently on the Indian equity market, seem to be having a change of heart.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
Two out of three times, the market has delivered positive returns.
The government on Thursday said it may not be possible to roll out the Goods and Services Tax (GST) from April next year, as the proposal needs consent from all the states. "...the (GST) legislation cannot be voted upon until the ratification is completed...there may be problem on the time factor (April 1, 2012)," Revenue Secretary Sunil Mitra said at a CII post-Budget conference.
The Sensex, which had soared by around 600 points in the aftermath of the FM's speech, surrendered more than 400 points from intra-day highs and slipped below the 18k mark to end up a mere 122 points at 17823 and the Nifty ended up 30 points at 5333.
Going by the trends in the past, the stock market has always been highly volatile during the budget season. This is primarily due to the fact that there are high positive/negative expectations prior to the Budget.
The cost of customising the Thar works out to a cool Rs 13 lakh -- which is over and above the cost of the vehicle.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
Honda Car India is planning to increase prices of its vehicles by up to Rs 6,000 from April to offset the impact of adverse exchange rate that has resulted in higher input costs.
For how many more years will the annual Budget circus continue in its current form? This is a question often asked at post-Budget seminars held across the country every year around this time.
Inflation, which at one point was below zero, soared to 8.56 per cent in January, surpassing the RBI's year-end projection of 8.5 per cent.
Naresh, who works at a bookstall and Raichand Singh, who owns a small hotel, at Carter Road in Bandra (suburban Mumbai), feel that post-budget the prices of essentials like cooking gas, petrol and hence vegetables is likely to move up.
Gold and silver have been shining bright in terms of adding to the investors' wealth compared with the other asset class -- stocks -- so far this year.
Economists and experts said on Tuesday the Union Budget presented by finance minister Pranab Mukherjee on Monday has not shown any fiscal prudence. They were speaking at a post Budget analysis session organised by the Confederation of Indian Industry in Ahmedabad.
Finance minister Pranab Mukherjee said on Tuesday there was a case for looking into the demands of the hospitality industry, which had sought tax breaks and infrastructure status in the Budget 2009-10, presented to the Parliament on Monday. The hospitality industry had expressed disappointment with the Budget, saying that it wasn't even mentioned in the finance minister's speech.
A back of the napkin calculation will tell us that people having a taxable income of Rs 500,000 will be paying a tax of Rs 34,000 in 2010-11 as against Rs 54,000 in 2009-2010. A saving of 37.04%!
Amendments to RBI Act likely soon
'This year was a very difficult time for me, or for any finance minister.'
Although the Budget has projected only Rs 1,120 crore (Rs 11.2 billion) receipts from disinvestment, sources said some big-ticket initial public offers, or IPOs, could hit the markets soon. Finance Minister Pranab Mukherjee will meet the Securities & Exchange Board of India board on Friday to discuss, among other things, the disinvestment roadmap and the Budget proposal to raise the threshold for non-promoter public shareholding for all listed companies in a phased manner.
While the focus on infrastructure means more business for PSU banks, the lack of risk-assessment capability is a major issue.
The government's borrowing programme will adversely impact returns from debt funds. Choose your funds carefully.
The debate on interest rates continues on the days leading to the Budget. So what are its consequences on our household budgets and pockets? Read on. . .
Wage revision in PSU banks is done every five years.
There was no applause for Finance Minister P Chidambaram when he spoke to Congress spokespersons summoned to Delhi by party president Sonia Gandhi to explain the economic issues of inflation management.
The inflation which hit a high of 13 per cent in August following spike in prices of petroleum products in the international market, has been on the decline since the outbreak of the global financial crisis in mid-September last year.
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