As part of larger exercise of Budget overhaul, government is looking at advancing the dates of its presentation in Parliament by a month to January-end to ensure that the whole process is completed before the new financial year begins.
Sources said the government is of the view that the Budget exercise should ideally be over by March 31 every year as against the present practice of it being carried in two phases spread between February and May.
"Collections under the Sovereign Gold Bond scheme reached a new high. The amount realised through the fourth tranche, at around Rs 919 crore, is the highest achieved as yet," the Finance Ministry said in a release.
Prabhu has recommended ending the 92-year-old practice of presenting a separate budget for Railways and sought merger with the General Budget presented by the Finance Minister, said a senior Railway Ministry official.
"The deadline for transferring discoms' debt to state budget and issuing bonds for 50 percent outstanding was March 31, 2016. The Union Cabinet decided to extend this date to March 31, 2017," Finance Minister Arun Jaitley said at a press conference after the Union Cabinet meeting here.
Goldman Sachs believes near-term demand is likely to be weak due to monsoons, which could lead to seasonal weakness in prices but it remains structurally positive on the medium-term demand and supply outlook (especially after monsoon).
Satish Pai, Vice President of Aluminium Association of India says the 2 percent increase in import duty on aluminium, announced in the Union Budget, was negated by near doubling of green cess on coal, as 40 percent of aluminium's production cost is power.
In only three months, the government has had to give in to pressure from various trade unions to change its stance on employee provident funds -- which it had envisaged as a social security scheme and not as a savings account. A look into the key events that shaped the development.
Chief Minister N Chandrababu Naidu made a PowerPoint presentation to Union Rural Development Minister Chaudhary Birender Singh on the state's requirements and the steps taken to make AP drought-free in the next three years.
According to the study, companies in the construction sector continued to witness negative cash flows from operations in 2015-16, which is likely to improve gradually to near zero levels this fiscal as more orders procured during the last two years are executed.
"States are requested to align their focus to the thrust provided in the Union Budget to promote investment and growth in the rural sector... It is imperative to step up capital expenditure at state level also," Finance Secretary Ratan Watal said.