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Finance Minister Pranab Mukherjee' Union Budget 2011-12 was supporting the Indian equity benchmarks. The Nifty gained 62 points at 5,365 and the Sensex rallied 216 points to 17,917.
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While presenting the Union Budget in Lok Sabha, Finance Minister Pranab Mukherjee announced that rate of tax on services will unchanged at 10%. He has added more services to the list.
Firstcall Research is bullish on Kewal Kiran Clothing and has recommended buy rating on the stock with a target of Rs 561 in its February 26, 2011 research report.
Government has slashed import duty on gypsum and coal from 5% to 2.5%.
The Finance Minister has maintained the base corporate tax at 30%. However, the surcharge has been cut to 5%. He has increased Minimum Alternate Tax (MAT) to 18.5% from the current 18%.
Government has imposed 10% excise duty on branded garments.
The benchmark Nifty moved in top gear again during announcements of indirect taxes by Finance Minister Pranab Mukherjee in his Union Budget 2011-12 speech.
In a bonanza to the farming community, the government today announced loans at interest rate of four per cent -- three per cent less than market rate -- for farmers who pay their dues in time and raised the credit target for farm sector by Rs 1 lakh crore.
While presenting the Union Budget in Lok Sabha, Finance Minister Pranab Mukherjee announced that rate of tax on services will unchanged at 10%. The prevailing inflation has compelled the Finance Minister to retain the service tax at 10%
With his professorial patience and softness towards his colleagues, Prime Minister Manmohan Singh may actually be transmitting a perception of weakness.
Networth Stock Broking has come out with a report on Textile industries and 12 textile stocks.
The Companies Bill 2009, which seeks to replace a half-a-century-old Act, will be presented in Parliament in the ongoing Budget session, Finance Minister Pranab Mukherjee today said.
Finance minister Mukherjee announced a relief for the common man by raising the minimum tax limit by Rs 20,000 for all categories.
The 30-share BSE Sensex regained further amid extreme volatility after announcement of direct tax by Finance Minister Pranab Mukherjee in his Union Budget 2011-12 speech.
Government is going to increase investment limit in bonds.
Asian shares rose on Monday as financial shares clawed back some of last week's losses and higher oil prices buoyed energy stocks, but gains were capped by fears of further outflows from emerging equities to developed markets.
Driven by good performance of agriculture and services sector, the Indian economy grew by 8.2% in the third quarter of the current fiscal, up from 7.3% in the corresponding period a year ago.
The allocation for education sector has increased by 24% at Rs 52057 crore. Also Rs 21000 crore has allocated to Sarva Shikshan Abhiyan.
Finance minister Mukherjee announced a road map to bring down fiscal deficit to 3.6% over three years. The fiscal deficit for the year ending March 2012 is pegged at 4.6% and then to 4.1% in 2012-13.
The benchmark Nifty came off day's high and was quite volatile in trade during the Finance Minister Pranab Mukherjee's Union Budget 2011-12 speech. Oil & gas, technology, FMCG and infrastructure companies' shares were on buyers' radar.
Finance Minister Pranab Mukherjee is presenting the Union Budget 2011 in the parliament.
Finance Minister Pranab Mukherjee today said the Government proposes to introduce the Constitution Amendment Bill in the current session to pave the way for introduction of the long-awaited Goods and Services Tax (GST) regime.
Union Budget 2011-12 comes against the backdrop of high inflation, tight liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment.
Government is going to allocate Rs 300 crore for oil palm production.
