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Budget News

  • Food processing sector gets $385.45 mn FDI till Dec in FY16

    Food processing sector gets $385.45 mn FDI till Dec in FY16  

    According to the data shared by Minister of State for Food Processing Sadhvi Niranjan Jyoti in a written reply in Rajya Sabha, the sector has attracted USD 5,285.66 million FDI during April 2012 to December 2015.

    04 Mar 2016, 3.36 pm  |  Source: PTI

  • FDI in food processing: Govt to issue specific details

    FDI in food processing: Govt to issue specific details  

    In the Budget 2016-17, Finance Minister Arun Jaitley has announced 100 percent FDI through government approval route in the marketing of food products produced and manufactured in India.

    04 Mar 2016, 3.36 pm  |  Source: PTI

  • 1% cut in corporate taxes to cost exchequer Rs 15,000 cr: Adhia

    1% cut in corporate taxes to cost exchequer Rs 15,000 cr: Adhia  

    "The Finance Minister had his own limitations in terms of resources... You know how much the bill is going to come for 1 percent deduction? It means the government has to take a hit of Rs 15,000 crore," Revenue Secretary Hasmukh A...

    04 Mar 2016, 12.02 pm  |  Source: PTI

  • Infra spending unlikely to boost domestic steel demand: Fitch

    Infra spending unlikely to boost domestic steel demand: Fitch  

    The government has allocated a total outlay of Rs 2.21 lakh crore in the Budget for 2016-17 to boost infrastructure in the country.

    04 Mar 2016, 11.40 am  |  Source: PTI

  • Budget is very innovative, creative and smart: Amitabh Kant

    Budget is very innovative, creative and smart: Amitabh Kant  

    "Budget has been a very innovative and creative and a very smart budget. It has provided huge thrust to agriculture sector... an impetus to infrastructure. Allocation for social sector like health has gone up," Kant said in a hack...

    04 Mar 2016, 11.19 am  |  Source: PTI

  • How Union Budget 2016 affects the salaried class

    How Union Budget 2016 affects the salaried class  

    While the government wants to offer some benefit to economically weaker sections of the society, there is also an attempt to bring in change by making pensions available to public at large.

    04 Mar 2016, 11.11 am  |  Source: Moneycontrol.com

  • Budget 2016: This five point agenda for personal taxation you shouldn’t miss

    Budget 2016: This five point agenda for personal taxation you shouldn’t miss  

    Alok Patnia explains government’s five point agenda for personal taxation in India.

    04 Mar 2016, 11.00 am  |  Source: Moneycontrol.com

  • RBI pores over Budget, worries on fiscal math

    RBI pores over Budget, worries on fiscal math  

    Finance Minister Arun Jaitley increased spending on farm and social sectors in the 2016-17 fiscal year on Monday in a boost to rural India, where most of the country's 1.3 billion people live.

    04 Mar 2016, 8.10 am  |  Source: Reuters

  • Railway contracts to be awarded online soon: Suresh Prabhu

    Railway contracts to be awarded online soon: Suresh Prabhu  

    The sale of scrap is currently online in the Railways while the procurement and submission of tendering documents are also on e-platform. Railways is playing a significant role in providing connectivity and currently our primary f...

    04 Mar 2016, 8.04 am  |  Source: PTI

  • Rahul Gandhi demands rollback of proposed EPF withdrawal tax

    Rahul Gandhi demands rollback of proposed EPF withdrawal tax  

    "EPF is the safety net of the employees and imposing a tax on this is wrong. I will urge the Prime Minister to announce... that the tax will be rolled back," Rahul Gandhi said.

    04 Mar 2016, 8.01 am  |  Source: PTI

  • Budget 2016 is transformational and balanced: EY

    Budget 2016 is transformational and balanced: EY   

    Mark Weinberger, Global Chairman & CEO at EY, is skeptical about the government's retrospective tax solution in the Budget.

    04 Mar 2016, 7.59 am  |  Source: CNBC-TV18

  • `Quantum jump` in Budget allocation for Northeast:Jitendra Singh

    'Quantum jump' in Budget allocation for Northeast:Jitendra Singh  

    There has been a "quantum jump" in allocation for the Northeast in the Union budget 2016-17 and it will help all-round development of the region, Union Minister for Development of North Eastern Region (DoNER) Jitendra Singh said o...

    03 Mar 2016, 8.44 pm  |  Source: PTI

  • Budget 2016: Cheer for farmers, salaried get peanuts; no extra bank recap

    Budget 2016: Cheer for farmers, salaried get peanuts; no extra bank recap  

    The farming sector has been allocated around Rs 36,000 crore, while spending on irrigation has been trebled to around Rs 17,000 crore. Around Rs 5,500 crore has been earmarked for the crop insurance scheme, and Rs 19,000 crore for...

    03 Mar 2016, 6.05 pm  |  Source: Moneycontrol.com

  • Budget 2016 eBook: Cheer for farmers; peanuts for salaried

    Budget 2016 eBook: Cheer for farmers; peanuts for salaried  

    Moneycontrol has put together an ebook that compiles our incisive coverage on Budget Day, and packs in articles, features and views on the Budget and examines how it will impact the economy.

    03 Mar 2016, 5.58 pm  |  Source: Moneycontrol.com

  • FDI in food processing to hit farmers, employment: CAIT

    FDI in food processing to hit farmers, employment: CAIT  

    "Allowing foreign investment in any form of retail will have adverse impact on traders, farmers, hawkers, transporters, small industries and will result into mass unemployment," Confederation of All India Traders (CAIT) said in a ...

    03 Mar 2016, 4.22 pm  |  Source: PTI

  • Hope for action on old vehicles scrappage policy soon: Pisharody

    Hope for action on old vehicles scrappage policy soon: Pisharody   

    Ravi Pisharody, ED-Commercial Vehicles, Tata Motors is disappointed there was no mention of electric vehicles in the Budget but disagreed on the argument that government is promoting hybrid vehicles at the cost of electric vehicle...

    03 Mar 2016, 4.08 pm  |  Source: CNBC-TV18

  • Budget 2016: 100% tax deduction for startups for upto 3 years

    Budget 2016: 100% tax deduction for startups for upto 3 years  

    A recent report states that startups in India are expected to raise USD 700 million and 5000 jobs in the next 12 months. The Startup India iniciative, launched in January by Narendra Modi, plans to move in the same direction by pr...

    03 Mar 2016, 3.24 pm  |  Source: Moneycontrol.com

  • Excise duty a disadvantage for organized jewellery cos: Titan

    Excise duty a disadvantage for organized jewellery cos: Titan   

    Speaking to CNBC-TV18, Titan's Bhaskar Bhat said that the 1 percent excise duty levied on jewellery articles will widen the gap between the unorganized industry as the latter does not have to bear this additional duty.

    03 Mar 2016, 3.02 pm  |  Source: CNBC-TV18

  • Cabinet clears new Aadhaar Bill

    Cabinet clears new Aadhaar Bill   

    Finance Minister Arun Jaitley in his Budget speech for 2016-17 announced government plan to give statutory backing to Aadhaar.

    03 Mar 2016, 2.30 pm  |  Source: PTI

  • Jewellers on 3-day pan-India strike against excise duty

    Jewellers on 3-day pan-India strike against excise duty  

    "Over 300 associations, that consists of over 3 lakh manufacturers, retainers, artisans among others, participated in the stir across the country. The strike has been 100 percent successful," All India Gems and Jewellery Trade Fed...

    03 Mar 2016, 2.17 pm  |  Source: PTI

  • Tata AIA Life CIO Harshad Patil`s take on Union Budget

    Tata AIA Life CIO Harshad Patil's take on Union Budget  

    The Budget attempts to kickstart the investment cycle through robust public capex spend even as it places equal emphasis on crucial areas such as agriculture & farmer welfare, rural development, healthcare and skill development in...

    03 Mar 2016, 1.57 pm  |  Source: IBNLive.com

  • Budget has offered room for monetary policy easing: MoS Sinha

    Budget has offered room for monetary policy easing: MoS Sinha  

    "Macroeconomic stability is fundamental to ensuring that monetary policy has space. If we don't provide that monetary policy space by generally a tighter fiscal policy, we cannot expect monetary policy to loosen up," he said while...

    03 Mar 2016, 1.40 pm  |  Source: PTI

  • R&D tax deduction unlikely to impact Wockhardt: CEO

    R&D tax deduction unlikely to impact Wockhardt: CEO   

    In an interview with CNBC-TV18, Khorakiwala said Wockhardt will maintain a double digit growth target for FY17 and expects Indian operations to grow 15-20 percent while UK operations should grow within 15 percent.

    03 Mar 2016, 12.56 pm  |  Source: CNBC-TV18

  • Budget 2016: Positive for bond mkt; see one rate cut this year: Deutsche Bank

    Budget 2016: Positive for bond mkt; see one rate cut this year: Deutsche Bank   

    Taimur Baig, Chief Economist, Asia Global Markets Research, Deutsche Bank AG says that while one rate hike is expected to be in the offing, more is unlikely to come.

    03 Mar 2016, 11.49 am  |  Source: CNBC-TV18

  • Budget credit negative for PSBs: Moody`s

    Budget credit negative for PSBs: Moody's  

    "The Budget is credit negative for public sector banks because the government has stuck to its capital infusion road map announced in 2015, Budgeting Rs 25,000 crore in injection," says Srikanth Vadlamani, Moody's Vice-President a...

    03 Mar 2016, 10.23 am  |  Source: PTI

  • Waive off all farm loans: BKU to Govt

    Waive off all farm loans: BKU to Govt  

    The BKU is also going to hold a 'mahapanchayat' here on March 17 to protest and submit their formal demands to the government.

    03 Mar 2016, 9.51 am  |  Source: PTI

  • Budget very strategic, it is work in progress: Novartis

    Budget very strategic, it is work in progress: Novartis   

    Budget is very strategic, it is obviously work in progress, and the nine pillars which the finance minister mentioned are great, says Ranjit Shahani, vice-chairman and managing director Novartis India

    03 Mar 2016, 9.35 am  |  Source: CNBC-TV18

  • COLUMN: Budget has something for everyone, but silent on GST

    COLUMN: Budget has something for everyone, but silent on GST  

    All taxable services will become dearer by 0.5 percent from 1 Jun 2016 and will now be liable at a cumulative rate of 15 percent.However, unlike Swachh Bharat Cess, credit of KKC will be available against KKC. Another new levy is ...

    03 Mar 2016, 9.29 am  |  Source: Moneycontrol.com

  • COLUMN: Tax impact of Budget 2016 on capital markets

    COLUMN: Tax impact of Budget 2016 on capital markets  

    There were several expectations from the capital market sector,such as replacement of Dividend Distribution Tax (DDT) with tax withholding in the hands of shareholders and relaxation of disallowance of expenses in relation to the ...

    03 Mar 2016, 9.29 am  |  Source: Moneycontrol.com

  • RBI may need to keep tight monetary policy longer, says IMF

    RBI may need to keep tight monetary policy longer, says IMF  

    With Finance Minister Arun Jaitley sticking to the fiscal deficit target of 3.5 percent in the Budget for 2016-17, there are rising expectations that the central bank might ease interest rates during its policy meet next month.

    03 Mar 2016, 9.04 am  |  Source: PTI

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