Interest Subvention

A multi-pronged approach, not mere targets, can boost affordable housing

The present PMAY scheme and the faltering pace of affordable housing that fell short of its earlier targets has evoked a great deal of criticism

Export sops: Interest subvention raised from 2% to 3%

In order to provide a boost to weakening exports, commerce minister Anand Shrama today announced number of measures.

How interest subvention boosts various sectors

In a bid to promote or boost an industry or businesses in certain sectors like textile or agriculture, etc the government can allow subsidy on the interest. This is known as interest subvention.

Govt to give 2% interest subsidy on farm loans: RBI

In a bid to ensure enough credit in agriculture sector, the government decided to give interest subsidy of 2% a year to all state owned banks for farm loans upto Rs 3 lakh in 2012-13 in respect of special interest subvention scheme already introduced by the ministry. PSBs generally charge 9% rate of interest on farm loans.

Budget's 4.6% fiscal deficit goal will be met: Kaushik Basu

Kaushik Basu, Chief Economic Advisor, PV Bhide, Former Revenue Secretary, Dhruv Sawhney, CMD, Triveni Engineering and TV Mohandas Pai, Head-Administration & HR, Infosys, in an exclusive interview with CNBC-TV18’s Shereen Bhan, gave their expert views on how they viewed the budget.

Budget offers RBI more leg-room on monetary policy front

Reserve Bank Deputy Governor Subir Gokarn welcomed the budget proposals to check fiscal deficit by keeping a tab on the subsidy bill, saying they are the right steps towards fiscal consolidation and offer the central bank more leg-room on monetary policy front.

Gems, jewellery firm unhappy with duty on branded products

Gems and jewellery industry today expressed disappointment over reintroduction of 1% excise duty on branded jewellery in the Union Budget and called for a rollback of the decision.

FY12 borrowing not a challenge: RBI

The Reserve Bank of India (RBI) does not see any challenge in managing the borrowing programme for fiscal year 2011/12, a deputy governor said, after the government unveiled a lower-than-expected borrowing figure in its federal budget.

Mobile phones to cost more from April 1

Mobile handset prices will become more expensive as Finance Minister Pranab Mukherjee today announced one percent hike in the Central Excise duty for 130 items, including phones.

No special benefit in I-T exemption limit to women: FM

New Delhi, Feb 28 (PTI) Finance Minister Pranab Mukherjee today kept the income tax exemption limit unchanged for women at Rs 1.90 lakh while increasing it for men and senior citizens.

Union Budget: Eastern Region poised for Green Revolution

Seeking to usher in a Green Revolution in the Eastern region, including Finance Minister Pranab Mukherjee's home state West Bengal, the Union Budget today announced an additional Rs 400 crore for the purpose.

Bicycle industry seeks removal from central excise net

Battling high input costs, the country's oldest bicycle cluster in Ludhiana today received a jolt, with Union Budget proposing to bring the sector under central excise net.

High service tax on life policy to lower return for holders

The government today proposed to increase the service tax on life insurance policies to 1.5% from 1%, a move that would increase the premium cost for policyholders.

I am happy excise duty not raised on vehicles: Bajaj

Mumbai, Feb 28 (PTI) Led by Bajaj Auto Chairman Rahul Bajaj, the automobile industry has praised Finance Minister Pranab Mukherjee's decision not to raise excise duty on vehicles in the Union Budget today.

Budget will help raise level of 'aam admi': Lord Paul

Leading NRI industrialist Lord Swraj Paul today hailed India's budget for the year 2011 as "growth-oriented" and said it would help raise the level of the "aam admi".