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.
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.
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.
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.
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.
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.
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.
The only question people had about the railway fare hikes was about the timing.
Critics warn that at a time of low growth, lower spending risks deepening the slowdown without helping the deficit-to-GDP ratio.
If the capital-hungry govt falls for blackmail by global majors, it is sure to loose a huge amount of money.
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
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.
The new GST deal is not the triumph of compromise over confrontation. It could become a nightmare to implement
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".
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.
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
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.
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.
Though now there is clarity on some of the issues, one major uncertainty remains - the rollout deadline.
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.
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
On the Budget to be presented next month, the finance minister said the Budget is not drawn up keeping an election in mind.
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..
The increase in gold duties and linking ETFs to gold deposit scheme may not work the way the government hopes they will
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.
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
The causality runs from growth to budgets and not the other way round. And economic forecasting is a mugs' game.
The diesel half-reform by UPA is really a quarter reform that ultimately may not work.
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.
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.