People aspiring to buy expensive smartphones like iPhones, Galaxy SIII or even mid-level Nokia Asha will have to shell out more now as the Budget for 2013-14 raised excise duty to 6 per cent on handsets priced above Rs 2,000.
The announcement of Union Finance Minister P Chidambaram for a new port at Sagar in West Bengal, comes as good news after meagre allocation for the ongoing railway projects in the state in the 2013-14 Railway Budget.
The Social Justice and Empowerment Ministry was allocated Rs 6,725.32 crore in the Union Budget for 2013-14, marking an increase of 11.93 per cent over the previous fiscal.
Prime Minister's Economic Advisory Council Chairman C Rangarajan today said all the measures proposed in the Budget for 2013-14 taken together will help the country register a growth of 6.5 percent in the next fiscal year.
Finance Minister P Chidambaram today expressed confidence that the present uncertainty in the telecom sector will be resolved and spectrum will be auctioned.
Malvinder Mohan Singh, Chairman, Fortis Healthcare, spoke about his sectors' expectations.
The Union Budget, which was announced earlier today, has received a mixed response from the industry leaders and consumers. But one group of consumers who will...
Reserve Bank Deputy Governor Anand Sinha today said the proposed all-Women bank may not take much time to come up as this would fall under the ambit of the already existing public sector bank guidelines
The budget, with the limited availability of fiscal space, attempted to bring fiscal consolidation with lower fiscal deficit of 4.8% and simultaneously made higher allocations to various schemes to spur investments.
Small and marginal producers of stainless steel, belonging mostly to unorganised sector, will have to pay an additional Rs 10,000 excise duty for each and every machine per month from now.
Commenting on the Union Budget, Gold and jewellery trade federation today said that the union Finance Minister P Chidambaram had recognized the continued representations by the sector and welcomed the Transaction tax and increase in baggage allowance to Rs one lakh.
Healthcare and pharmaceutical industries today welcomed steps announced in the Budget to increase allotment on health and medical education.
The budget has a high focus on social sector, while nothing new has been done specifically to spur infrastructure spending
Government expects a lower revenue of Rs 19,440.67 crore from spectrum sale and other related charges in 2012-13, against Rs 58,217 crore estimated in the budget for 2012-13.
Seeking to end ambiguity, the government today proposed to follow the international practice with regard to defining foreign direct investment and foreign institutional investors.
If Palaniappan Chidambaram‘s eighth budgethas not set the markets on fire, it can be easily explained: his first goal was to avoid doing damage to investor confidence, which is what his predecessor managed to do. And unlike his own 2008 budget, which set the stage for the economy‘s long-term slide
Sunil Munjal, MD, Hero expects the GST to get approved before the end of the next fiscal. Reacting to Union Budget 2013, Munjal told CNBC-TV18 that after slew of meetings between the finance ministry and various other ministries the mood is upbeat.
Indicating worsening public finances, the government today pegged its net borrowing for 2013-14 at Rs 4.84 lakh crore, about Rs 17,000 crore higher than the revised estimates of the current fiscal.
The government today raised the Plan expenditure for 2013-14 by 6.58 per cent to Rs 5,55,322 crore from the Budget estimates of Rs 5,21,025 crore for the current fiscal.
CBI has received Rs 461.66 crore in budgetary allocation for the next fiscal which is a marginal increase of approximately 14 per cent over 2012-13.
The government today said it will release Rs 9,000 crore as the first instalment of compensation for losses incurred by states due to reduction in the Central Sales Tax rate, a precondition for the rollout of GST - the indirect taxes regime.
Finance Minister P Chidambaram today proposed tax incentives to increase shipments of labour-intensive sectors such as leather, much to the cheer of exporters.
The RBI will be able to manage the government's borrowing programme for the next fiscal year, Urjit Patel, a deputy governor at the Reserve Bank of India, said on Thursday, after the government unveiled a higher-than-expected gross borrowing number.
Investors will witness some incremental changes as far as their investment plans are concerned in the coming financial year following the announcement of the Union Budget 2013-14.
Looking to attract more foreign investment into the stock market, Finance Minister P Chidambaram today said procedures for overseas investors would be simplified besides having uniform KYC norms for them.