Budget 2013 News - Page 7

Bihar pins hope on Chidambaram's budget speech

The Centre's additional incentives could push the state's contribution to the national GDP to 10 percent from 2.8 percent at present, the Bihar chief minister said.

Cong seeks pro-poor stamp on Budget, will FM relent?

Among the demands that dominated Chidambaram's interaction with Congress office bearers, was a second farm loan waiver on the lines of one announced in the 2008 budget, doubling existing tax slab and plugging leaks in expenditure of funds.

Why Chidu and Subbu do not have much control over fiscal deficit

As long as the Westcontinues to print money, prices of oil and gold will continue to remain high. Hence, Indians will continue to buy gold and the oil bill will remain high.

Govt sitting on surplus cash, may borrow less in new fiscal

New Delhi has built up a cash surplus of about Rs 80000 crore as a result of Finance Minister P. Chidambaram's deep spending cuts to keep the fiscal deficit down at 5.3 percent of gross domestic product this fiscal year.

High fiscal deficit may trim welfare spending this budget: Ramesh

Union Rural Development Minister Jairam Ramesh today said there may not be a major increase in the allocation for social sector in the forthcoming Budget due to the grim fiscal situation.

Budget 2013: 'Realty needs regulator bill, industry status'

If the real estate sector gets the industry status, it will allow firms to raise capitals at much lower rates, says founder and CEO, Propequity, Samir Jasuja.

Why India's economy won't bounce back in a hurry

Even if the economy has bottomed out, after plumbing decadal lows in GDP growth, it isn't running away anywhere in a hurry. Get used to the new normal - of 5-6 percent growth.

Why Pawan Bansal jumped the gun on rail fare hikes

The only question people had about the railway fare hikes was about the timing.

5% GDP: Slowdown demands belt tightening, growth Budget

Critics warn that at a time of low growth, lower spending risks deepening the slowdown without helping the deficit-to-GDP ratio.

FM takes transfer pricing route to rake in the moolah

If the capital-hungry govt falls for blackmail by global majors, it is sure to loose a huge amount of money.

Budget 2013: Infra status alone won't create cheap housing

The biggest problem of affordable housing is the lack of political will to ensure it becomes a reality and the fact that it is being created in places that are not habitable, said Pankaj Kapoor, MD of real estate research firm Liases Foras

Taxmen cometh: Corporates get stinkers on tax evasion

Under pressure from finance minister P Chidambaram, he tax authorities are going after corporates seeking explanation for their lower service tax and excise duty payments.

New GST compromise is not what the doctor ordered

The new GST deal is not the triumph of compromise over confrontation. It could become a nightmare to implement

Not budget, but policy implementation key ratings driver: Fitch

Fitch warned that given the country's record on policy implementation and the General Elections scheduled in 2014 "the political and implementation risk remain significant".

Budget 2013: People won't buy more homes if they get more tax breaks

People don't buy homes to get a tax deduction. The average middle class Indian buys a home to stay in it. And for that to happen, real estate prices and interest rates have to come down.

Why CAD is bad: Subbarao spots a new thing to fret about

After an obsessive focus on inflation, the RBI has brought out a new rabbit to worry out: the current account deficit. But this is for real

Budget cuts: Defence, welfare, nuclear power face the axe

One reason the cuts are needed is a rising subsidy bill. The finance ministry expects the burden for providing cheaper fuel to jump by nearly Rs 50000 crore r, above earlier estimates of Rs 43,000 crore.

Ahead of Budget, S&P sounds positive note on India

The possibility of India losing its investment grade credit rating has receded somewhat as a result of economic reforms undertaken by the government since last September, an analyst with rating agency Standard & Poor's told Reuters on Thursday.

GST gets a lifeline.. but still hangs in balance

Though now there is clarity on some of the issues, one major uncertainty remains - the rollout deadline.

Now learn all about paying taxes through TV quiz-show

The I-T department is scouting for a television channel to produce and telecast the 12-episode quiz show to sensitise the younger generation about the need to pay taxes.

UPA has made economy more vulnerable; fix that first

The FM's task in the next budget is to negotiate India's twin fiscal cliffs - the budget and external deficits. Growth, etc, will follow if we deal with these issues

Argument for taxing very rich should be considered: Chidambaram

On the Budget to be presented next month, the finance minister said the Budget is not drawn up keeping an election in mind.

Budget will prove we mean business: Chidambaram

Chidambaram hits the road selling the India growth story, but investors want to know if the government has the political will to do what it takes..

Do your worst, Mr C; India isn't about to give up on gold

The increase in gold duties and linking ETFs to gold deposit scheme may not work the way the government hopes they will

Govt hikes import duty on gold by 50% to 6 percent

The minimum quantity of gold that may be deposited and the tenure of deposit has also been reduced to six months from three years earlier.

Budget 2013: Super-rich? Rejoice, FM won't bother taxing you more

It is more than likely that the talk about taxing the super-rich is just talk: it will lower expectations of tax relief and allow the FM to raise resources quietly

Why growth impacts budgets positively, and not vice-versa

The causality runs from growth to budgets and not the other way round. And economic forecasting is a mugs' game.

Diesel hike: Chidam-broom is not really sweeping clean

The diesel half-reform by UPA is really a quarter reform that ultimately may not work.

Diesel price decontrol: Bad karma catches up with UPA govt

The lesson that the UPA government ought to take away from this is that it may run, but it cannot hide, from the malefic effects of bad economics.

Govt committed to moderate tax rates, says Chidambaram

Finance Minister P Chidambaram today said the government is committed to moderate tax rates and is working towards modernising administration to minimise transaction cost and maximise taxpayer convenience.