India's infrastructure firms are hoping the federal budget would bring some sops including a waiver off dividend distribution tax, minimum alternate tax (MAT) and an extension of a tax holiday for the sector.
Prime Minister Manmohan Singh vowed on Thursday to control inflation, a problem that has sparked street protests this week and added pressure on the government already under fire over corruption scandals.
Prime Minister Manmohan Singh's embattled government will likely boost spending on social programmes in a populist budget on Monday, even as India is threatened with a potentially ballooning subsidy bill for food and fuel.
A career bureaucrat and finance ministry veteran, Subbarao served in the prime minister's economic advisory council in the Congress party government's previous term.
Food inflation accelerated slightly in mid February on rising prices of milk and fruits, amid expectations the government may announce fresh measures to rein in inflation in the budget.
A master of India's turbulent politics, Mukherjee is considered by many as the sharpest mind in Prime Minister Manmohan Singh's cabinet with deep knowledge of the changing dynamics of India's strategic and economic policies.
Food inflation rose marginally to 11.49% for the week ended February 12 from 11.05% in the previous week, driven by rising prices of milk, egg, meat and vegetables.
India's foreign direct investment (FDI) inflows dipped sharply in 2010 by 22% at USD 21 billion compared to USD 27 billion in 2009.
Indian banks are hoping they get the government's nod to issue tax-free infrastructure bonds and some a tax concession for 2011-12.
The Reserve Bank of India (RBI) has deferred the implementation of guidelines on compensation for wholetime directors and other executives of private and foreign banks in India by a year to 2012/13, it said on Wednesday.
As crude oil prices climbed to a two-and-half year high of USD 108 per barrel, the Petroleum Ministry is pinning hopes on customs and excise duty cut in the Union Budget to avoid hiking petrol and diesel prices.
Every year corporate India, international investors and ordinary Indians stays glued to Finance Ministers’ budget speech to discover the economic policy direction of the country.
Standing Committee on Finance Chairman Yashwant Sinha today suggested raising the income tax exemption limit from Rs 1.6 lakh to Rs 2 lakh in the Budget apparently to provide relief to common man reeling under the impact of high inflation.
The robust performance of the Indian economy during the ongoing fiscal is likely to prompt the government to peg GDP growth in the 2011-12 fiscal at 9%, as well as withdraw stimulus measures in the forthcoming Budget.
India's auto parts makers want the government's help to upgrade technology and spur investments to boost capacity, but analysts do not see the budget for 2011-12 to be tabled in parliament on February 28 taking much steps in this direction.
India should allow limited exports of wheat, rice and sugar to benefit from high global prices, Farm Minister Sharad Pawar said, as long as domestic consumption is catered for.
The Reserve Bank of India on Wednesday released draft guidelines on the introduction of credit default swaps (CDS) for corporate bonds.
Here are the main sectoral expectations of brokerages from the union budget 2011
The Jammu and Kashmir government will bring a legislation to control coversion of agriculture land into other activities in the coming budget session of the state assembly.
Castrol India said with the country's economy poised to maintain its growth momentum, the lubricants industry is likely to witness growth from both personal mobility and infrastructure segments.
The country's food subsidy bill is expected to jump by 27% to Rs 74,231 crore in the 2010-11 fiscal, the Lok Sabha was told today.
"Looking at developments at the sectoral level in the remaining period of 2010-11, we expect that the year-on-year changes in WPI of food articles will be higher at 16.8 per cent, on account of higher inflation in milk, vegetables, fruits and eggs-meat-fish," it said.
The government is likely to borrow Rs 4,50,000 crore (USD 99.3 billion) from the market in the fiscal year starting in April, in line with current year borrowing.
Yields on government bonds have dropped 10-15 basis points over 6 trading sessions and market participants are speculating the central bank may have been one of the buyers from the market.
The government today said high food inflation is adversely affecting the common man and it intends to employ various measures to tackle the situation, including schemes that will facilitate opening up farmers' mandis and mobile bazaars.