'India-made' mobile phones to become expensive by 1-2%
Consumers will have to shell out
1-2 per cent more on mobile phones following the levy of a
special additional duty (SAD) on circuit boards of mobile
phones.
Govt extends tax exemption to CM, LG relief funds
The government today announced
extension of tax exemption on contributions to Chief
Minister's Relief Fund and Lieutenant Governor's Relief Fund.
Budget makes tax compliance easy for small tax payers
Making it easier for small tax
payers, Finance Minister Arun Jaitley today said there will be
no scrutiny of assessees filing income tax returns for the
first time.
Govt to amend NI Act to deal with cheque bounce cases
Finance Minister Arun Jaitley today
said the government is considering further amending the
Negotiable Instrument (NI) Act to effectively deal with lakhs
of cheque bounce cases by reducing timeframe for resolution of
such disputes.
Listing of security receipts issued by ARCs to be allowed: FM
To enhance capital flows into the
securitisation industry and check bank NPAs, the government
today announced allowing listing of security receipts issued
by asset reconstruction companies on stock exchanges.
Insurance industry hails decision to hike coverage under PMFBY
The general insurance industry
today hailed the Union Budget and welcomed the government's
decision to increase the coverage under the Pradhan Mantri
Fasal Bima Yojana from 30 per cent to 40 per cent in 2017-18
and 50 per cent in 2018-19.
Capital gains: Amaravati farmers get Budget bonanza
Union Finance Minister Arun
Jaitley today gave a bonanza to thousands of farmers in Andhra
Pradesh's new capital region Amaravati by waiving off the
capital gains tax on sale of their developed land.
Mcap of BSE-listed cos scales record high of Rs 114 lakh cr
The total market valuation of BSE-
listed companies surged to an all-time high of over Rs 114
lakh crore today on robust stock market sentiment amid the
Union Budget proposals, especially with regard to fiscal
discipline and clarity on FPI taxation.
Profit-making Pawan Hans pays Rs 5.52 crore dividend to govt
State-run chopper operator Pawan
Hans has paid Rs 5.52 crore to the government as dividend
after it reported a net profit of Rs 36.08 crore for the
2015-16 fiscal year.
TCS says DigiGaon initiative will empower common man
Country's largest software
exporter TCS has hailed the focus on digital initiatives in
the Budget saying its implementation will empower citizens.
Budget ups public spending, halves basic tax rate
In a pre-poll Budget aimed at
softening the demonetisation blow, Finance Minister Arun
Jaitley today halved the basic income tax rate to 5 per cent
and lowered rate for small companies while boosting spending
on rural employment, agriculture and infrastructure.
Cong terms budget 'direction-less'; says no proposal to propel
Congress today termed the Union
Budget as "direction-less" and "deeply disappointing", adding
that it has no proposal to accelerate manufacturing or job
creation to propel growth.
Budget outlay of Rs 1,555 cr to boost garment exports: Irani
Union Minister Smriti Irani today
said the Rs 1,555-crore outlay in the Budget for remission of
state levies will "greatly benefit" exports in the garments
and made-ups segment of textiles.
'Duty cut on LED input materials will promote industry'
To promote ebergy efficient
lighting, the government today cut excise as well as import
duties on input materials used to produce LED lamps, which has
been hailed by the industry.
BJP could not succeed in 'achhe din' promise: Akhilesh
Uttar Pradesh Chief Minister
Akhilesh Yadav today said the fourth budget of the Narendra
Modi government has come but the BJP has still not succeeded
in bringing "achhe din" as promised by the party.
Budget incremental not growth oriented, Siddaramaiah
Stating that the union budget
presented today is not growth oriented, Karnataka Chief
Minister Siddaramaiah has called it an "incremental budget "
and not growth oriented.
Cigarette stocks gain as much as 5%
Cigarette stocks today rose by as
much as 5 per cent even as the government continued with the
crackdown on cigarettes, bidis and tobacco products by
increasing taxes in the Budget 2017-18.
Water purifier makers say budget to boost domestic cos
Reverse osmosis (RO) based water
purifier makers have welcomed the government's move to reduce
the customs duty on import of membrane sheet and tricot.
Govt to shut FIPB; more FDI policy relaxations on anvil
In order to further improve ease of
doing business, the government today decided to abolish FIPB
and form a new mechanism that could include approvals by the
ministries concerned for expeditious clearance of foreign
investment proposals.
Broadcasting industry hails Budget's focus on rural and infra
Hailing the Union Budget's focus on
rural and infrastructure sectors, the Indian Broadcasting
Foundation said it would provide impetus to the broadcasting
sector through enhanced spends on advertising, but expressed
disappointment over the industry not getting infra status.
Decision on FRBM Review Panel report in due course: FM
The report of the FRBM Review
Panel, headed by former revenue secretary N K Sinha, will be
carefully examined and appropriate decisions will be taken in
due course, Finance Minister Arun Jaitley said today.
TN Govt lauds FM for 'balancing,' Oppn calls 'disappointing'
Tamil Nadu Chief Minister
O Panneerselvam today dubbed the budget as a "difficult
balancing task" welcoming several of its features while Leader
of Opposition in Assembly M K Stalin said it was a "mix of
change and disappointment."
"This Budget does a difficult balancing task. But the
people of the State of Tamil Nadu had still higher
expectations," Panneerselvam said.
WDM witnesses trade worth Rs 1,039.00 cr on NSE
Wholesale debt market segment of
NSE today witnessed a total turnover of Rs 1,039.00 crore in
38 trades.
Highways allocation hiked 12 pc to Rs 64,900 cr: FM
Terming roads, railways and rivers
as the "lifeline of our country", Finance Minister Arun
Jaitley today enhanced the allocation for highways sector by
12 per cent to Rs 64,900 crore for 2017-18.
Budget proposals receive mixed reaction from pharma sector
The pharma sector representatives
said the Union Budget has failed to specifically address
imminent challenges directly affecting the key industry, but
hailed certain proposals of Finance Minister Arun Jaitley.
