A super rich tax is unlikely to come in this budget as “policy makers within the government” favour more discussions before introducing it.
Railway Minister Pawan Kumar Bansal will announce the procurement proposal of 160 km per hour high-speed relief train in his maiden Rail Budget 2013-14 on February 26.
Officials in the Reserve Bank of India fear that cutting capital spending on projects with strong multiplier effects like building roads and bridges, won't help revive growth, which is seen as a priority if the economy is to avoid a downward spiral.
Mahindra auto sector boss Pawan Goenka says tax on diesel vehicle would have serious negative impact
Despite fiscal prudence being high on the agenda, the United Progressive Alliance-led government would try to avoid any political backlash considering the fact that this is a final opportunity to present its full-year Budget ahead of Lok Sabha elections scheduled in early 2014.
Will more taxes on the super rich improve India's fiscal health or will it have a reverse effect and result in more tax evasion? Watch the video to find out what experts have to say
In today’s times of rising prices and increased costs of living, the common man looks forward to having additional cash in his hands after the deduction of various taxes.
With UPA chief Sonia Gandhi pushing for 25 million families to qualify under the food security plan, finance minister P Chidambaram is having a tough time managing other social sector priorities given the mounting fiscal deficit.
IndusInd Bank CEO says moves to fix fisc, clear roadmap on disinvestment necessary
Its cash position has improved with flow of over Rs 14,000 crore through disinvestments alone in February. Uptil now the government has collected around Rs 21,500 crore from PSU stake sales as against a fiscal target of Rs 30,000 crore.
Firstpost editors do not expect any big reforms in Budget 2013. While meeting key macro numbers is key, Chidambaram is unlikely to soak the rich with taxes and may only introduce marginal tax hikes for the rich
How far can Finance Minister P Chidambaram cut unproductive expenditure this year? This is one of the key concerns experts have been asking in the run up to the Budget 2013.
The budget is the last instance of the Congress being able to control good news.
The HDFC CEO says he is confident fiscal deficit target will be met in Budget 2013, but he hopes the FM expands the tax net instead of raising taxes
Director General of the National Council of Applied Economic Research (NCAER) and former World Bank economist, Dr. Shekhar Shah, underlines what is most needed in this year's budget and the approach it should take.
The latest to join the bandwagon of protesting ministers is Planning Commission head Montek Singh Ahluwalia since the burden of fiscal consolidation has largely fallen on plan expenditure, which is likely to be trimmed by around Rs 1 lakh crore in financial year 2013.
Vanvari’s expectations from the Budget are incentives for the infrastructure and manufacturing sectors to kickstart the investment cycle and curtailment of expenditure.
Economist Kavita Rao of the NIPFP says that it is time to stop wooing foreign investors and focus on domestic investors instead
Directorate of Intelligence and Criminal Investigation has sent letters to 35,170 PAN holders containing their high value financial transactions detected through the hi-tech 360 degree profiling exercise.
On one hand, 8500 I-T officers won't conduct raids or surveys till long-pending demands are met, while on the other some economists are lauding Chidambaram's latest efforts to mop up revenues and reign in deficit.
In expectations of a higher GDP growth next fiscal and in order to keep the fiscal deficit lower, the government's market is bound to go up
The government has already postponed the implementation of the General Anti Avoidance Rules and finished unpleasant announcements like diesel and railway fare hikes. Some other sops such as a reduction in the securities transaction tax (STT) could be announced.
Likening the taxation on equity markets to the ones on cigarettes and alcohol, he said the STT was proving to be a major disincentive for markets
Government is likely to increase the tax deduction limit on home loan interest to more than Rs 2 lakh per annum from the current Rs 1.5 lakh.
However Chidambaram's cuts on welfare and defence mainly affect capital investment and he has avoided attacking government wage bills and subsidy spending known as non-plan expenditure.
States have agreed to the compensation formula suggested by the Centre for their Central Sales Tax revenue loss for implementing the Goods and Services Tax. However, it is unlikely the new indirect tax regime would be introduced in 2013-14
In the run up to Budget 2013, Firstpost will be conducting a special quiz related to past and present budgets. This is the second quiz
He said that nobody can deny that more people have been lifted from poverty in last 20 years after the economic reforms came in and "today we have a strong country, strong economy
Apart from a handful of new mentions, their talking points were similar to issues raised in most preceding years