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Budget News

  • Union Budget 2016-17: ARCs hail move to open up sector to foreign investment

    Union Budget 2016-17: ARCs hail move to open up sector to foreign investment  

    "With more capital coming in, we will also be able to have meaningful discussions with banks to resolve bad loans," the company's Managing Director and Chief Executive Vinayak Bahuguna told PTI.

    29 Feb 2016, 8.23 pm  |  Source: PTI

  • Rs 2,250 cr allocated for Environment Ministry

    Rs 2,250 cr allocated for Environment Ministry  

    The Environment Ministry has got Rs 2,250.34 crore in the 2016-17 Union Budget unveiled by Finance Minister Arun Jaitley today in Parliament, of which Rs 2,000 cr is under plan head and Rs 250.34 cr under non plan.

    29 Feb 2016, 8.22 pm  |  Source: PTI

  • Budget 2016: ONGC sinks 10% on 20% ad valorem cess, no custom duty lifts HPCL

    Budget 2016: ONGC sinks 10% on 20% ad valorem cess, no custom duty lifts HPCL  

    Oil marketing companies gained due to non-imposition of custom duty on crude oil imports. HPCL rallied over 4 percent followed by BPCL and IOC with marginal gains.

    29 Feb 2016, 7.59 pm  |  Source: Moneycontrol.com

  • Preliminary Union Budget 2016 analysis – Personal taxation

    Preliminary Union Budget 2016 analysis – Personal taxation  

    Relief to small tax payers, simplification and rationalisation of taxation and use of technology are some important elements in personal taxation.

    29 Feb 2016, 7.55 pm  |  Source: Moneycontrol.com

  • Leaping Union Budget in leap Year?

    Leaping Union Budget in leap Year?  

    In the words of Chanakya, “Governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flower so that both can survive".

    29 Feb 2016, 7.55 pm  |  Source: Moneycontrol.com

  • Budget 2016: Infrastructure fifth support pillar in theme: Transform India

    Budget 2016: Infrastructure fifth support pillar in theme: Transform India  

    Budget 2016 allocates a comprehensive gigantic outlay of Rs 2,21,246 crores for the infrastructure sector, including railways.

    29 Feb 2016, 7.55 pm  |  Source: Moneycontrol.com

  • Union Budget 2016-17: Govt proposes Rs 5,500 crore for Crop Insurance Scheme for FY17

    Union Budget 2016-17: Govt proposes Rs 5,500 crore for Crop Insurance Scheme for FY17  

    Accordingly, the Pradhan Mantri Fasal Bima Yojana (PMFBY) replaces the existing two schemes, the National Agricultural Insurance Scheme (NAIS) and the Modified National Agricultural Insurance Scheme (MNAIS).

    29 Feb 2016, 7.53 pm  |  Source: Moneycontrol.com

  • Political experts react to Union Budget 2016

    Political experts react to Union Budget 2016   

    A panel of political experts share their view on Union Budget 2016 presented by Arun Jaitley.

    29 Feb 2016, 7.53 pm  |  Source: CNBC-TV18

  • Budget 2016: Boosting infra, agri right step for economy, say corporates

    Budget 2016: Boosting infra, agri right step for economy, say corporates   

    The government has, though, tried to expand the tax space, gone in for simplification in tax laws, emphasized on tax dispute resolution and come out with ways to benefit the lower income groups, says Rajiv Memani, Chairman of Indi...

    29 Feb 2016, 7.53 pm  |  Source: CNBC-TV18

  • Budget 2016: Secys confident of bank consolidation, achieving divestment tgt

    Budget 2016: Secys confident of bank consolidation, achieving divestment tgt   

    The Union Budget 2016 presented today had two areas that analysts had a bone to pick with: the continuation of the bank recapitalization target at Rs 25,000 crore and the lofty aim of divesting government stakes Rs 56,000 crore.

    29 Feb 2016, 7.51 pm  |  Source: CNBC-TV18

  • Budget 2016: `Govt committed to fiscal deficit to GDP target of 3.5%`

    Budget 2016: 'Govt committed to fiscal deficit to GDP target of 3.5%'  

    Abheek Barua, Chief Economist at HDFC Bank is of the view that government committed to a fiscal deficit to GDP target of 3.5 percent for 2016-17.

    29 Feb 2016, 7.47 pm  |  Source: Moneycontrol.com

  • Budget 2016-17 a positive surprise: Nomura

    Budget 2016-17 a positive surprise: Nomura  

    Overall, the budget is a positive surprise, relative to our expectations, says Sonal Verma of Nomura.

    29 Feb 2016, 7.47 pm  |  Source: Moneycontrol.com

  • Jewellers disappointed as govt proposes 1% excise duty

    Jewellers disappointed as govt proposes 1% excise duty  

    Finance Minister Arun Jaitley today proposed 1 percent excise duty on jewellery without input credit or 12.5 percent with input tax credit on jewellery excluding silver other than studded with diamonds and some other precious ston...

    29 Feb 2016, 7.46 pm  |  Source: PTI

  • Budget 2016: Room for RBI rate cut opens up: Soumyajit Niyogi

    Budget 2016: Room for RBI rate cut opens up: Soumyajit Niyogi  

    Room for RBI rate cut opens up, as early as in the April 2016 policy meeting, following government sticking to both FY16 and FY17’s fiscal deficit target, says Soumyajit Niyogi, Associate Director - Credit & Market Research Grou...

    29 Feb 2016, 7.45 pm  |  Source: Moneycontrol.com

  • Budget 2016 does well on flooring downside risks: CITI

    Budget 2016 does well on flooring downside risks: CITI  

    he budget does well on flooring downside risks: the Fisc & macro stay controlled, in an uncertain growth/global environment, says CITI.

    29 Feb 2016, 7.45 pm  |  Source: Moneycontrol.com

  • Win-Win Budget for both rural, urban areas: Ananth Kumar

    Win-Win Budget for both rural, urban areas: Ananth Kumar  

    The minister also said the introduction of direct benefit transfer (DBT) on pilot basis in fertilisers will empower the farmers and at the same time it will help in balanced fertilisation.

    29 Feb 2016, 7.45 pm  |  Source: PTI

  • 100% FDI in marketing, processing of food products approved

    100% FDI in marketing, processing of food products approved  

    Finance Minister Arun Jaitley in Budget for 2016-17 said the FDI policy has to address the requirements of farmers and food processing industry as a lot of fruits and vegetables grown by farmers either do not fetch the right price...

    29 Feb 2016, 7.45 pm  |  Source: PTI

  • Over 13% increase in Budget allocation for I&B Ministry

    Over 13% increase in Budget allocation for I&B Ministry  

    According to the revised estimates for 2015-16, the allocation of the I&B Ministry was Rs 3,588.58 crore while for the financial year 2016-17 it has been increased to Rs 4,083.63 crore.

    29 Feb 2016, 7.45 pm  |  Source: PTI

  • Karunanidhi gives pass marks `as of now` to Modi on budget

    Karunanidhi gives pass marks 'as of now' to Modi on budget  

    "The Budget presented by the Modi-led government has no new tax concessions. While there were big expectations on increasing the income-tax slab, no such thing has been announced. This has led to big disappointment among the tax p...

    29 Feb 2016, 7.42 pm  |  Source: PTI

  • Budget to boost demand, supply of affordable homes: Realtors

    Budget to boost demand, supply of affordable homes: Realtors  

    The Budget 2016-17 has proposed an additional Rs 50,000 deduction on interest on loans for first home buyers and 100 percent deduction for profit on development of affordable housing, besides exempting REITs from dividend distribu...

    29 Feb 2016, 7.41 pm  |  Source: PTI

  • Budget 2016: Jewellery stocks fall 1-4% on imposition of excise duty

    Budget 2016: Jewellery stocks fall 1-4% on imposition of excise duty  

    Shares of Titan Company declined 4.3 percent to close at Rs 316.35 on the BSE. Among others, Gitanjali Gems, Goenka Diamond, PC Jeweller, Renaissance Jewellery, Tara Jewels and Tribhovandas Bhimji Zaveri were down 1-3.6 percent at...

    29 Feb 2016, 7.40 pm  |  Source: Moneycontrol.com

  • Solar power tariffs may rise as depreciation benefit capped

    Solar power tariffs may rise as depreciation benefit capped  

    The government had earlier provided benefit of up to 100 percent accelerated depreciation (AD) to certain industrial sectors to give impetus to investment.

    29 Feb 2016, 7.40 pm  |  Source: PTI

  • India unveils pro-poor Budget, keeps deficit target

    India unveils pro-poor Budget, keeps deficit target  

    Indian Finance Minister Arun Jaitley unveiled a Budget for the poor on Monday, announcing new rural aid and health programmes in a strategy shift that could boost his ruling party in coming state elections.

    29 Feb 2016, 7.40 pm  |  Source: Reuters

  • Budget 2016: Hope to meet Rs 98k cr revenue target set by FM,says telecom min

    Budget 2016: Hope to meet Rs 98k cr revenue target set by FM,says telecom min   

    The telecom sector is rising very fast, says telecom minister Ravi Shankar Prasad, highlighting that it has seen the highest foreign direct investment (FDI) inflow in the last 5 years, improved transparency in spectrum auction and...

    29 Feb 2016, 7.40 pm  |  Source: CNBC-TV18

  • `Healthcare has finally taken centre stage in Budget`

    'Healthcare has finally taken centre stage in Budget'  

    Reacting to Finance Minister Arun Jaitley's proposals in the Budget 2016-17, Apollo Hospitals Group Chairman Prathap C Reddy said: "Healthcare has finally taken the centre stage in the Budget.

    29 Feb 2016, 7.40 pm  |  Source: PTI

  • Govt allocates Rs 18,413 cr to Department of Telecom

    Govt allocates Rs 18,413 cr to Department of Telecom  

    As per the expenditure Budget, Rs 2,710 crore will be allocated for setting up of optical fibre base network for Defence in lieu of spectrum it has freed for commercial use.

    29 Feb 2016, 7.33 pm  |  Source: PTI

  • Vodafone, Cairn can pay tax arrears to settle disputes: FM

    Vodafone, Cairn can pay tax arrears to settle disputes: FM  

    The proposal, however, did not get enthusiastic response with companies saying there is no tax liability on them as they had not done anything wrong.

    29 Feb 2016, 7.33 pm  |  Source: PTI

  • Budget has no `big idea`, pro-poor projection a rhetoric: Cong

    Budget has no 'big idea', pro-poor projection a rhetoric: Cong  

    Congress Vice President Rahul Gandhi asserted that the budget's "mere rhetoric", without vision or action, will fool neither farmers nor the poor of this country while former Prime Minister Manmohan Singh said it was a "nit pickin...

    29 Feb 2016, 7.27 pm  |  Source: PTI

  • Budget aims at increasing rural income, infrastructure: FM

    Budget aims at increasing rural income, infrastructure: FM  

    On not increasing the tax slab rates, he said there is an attempt to increase the tax base and simplify tax structure.

    29 Feb 2016, 7.24 pm  |  Source: PTI

  • `Hopeless` Budget,says TMC

    'Hopeless' Budget,says TMC  

    "This budget is not constructive, nor is it creative. It is stereotype and routine. We are left with no option, but to call it a hopeless budget," TMC, which rules West Bengal, said in a statement here.

    29 Feb 2016, 7.07 pm  |  Source: PTI

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