India may slash its food and fuel subsidy bill by about $8 billion in the budget, two sources said, but despite the impressive headline, the cut is not as radical as free market champions had hoped for in Prime Minister Narendra Modi's first full budget.
His views come amidst some voices seeking an inheritance tax in the forthcoming Budget
An official release said that the financial business (11 items) include presentation of and discussion on general and railway budget, voting on demands for grants, supplementary demands for grants for 2014-15 and excess demands, if any, for 2013-14. The rail budget will be presented Feb 26, Economic Survey Feb 27 and general budget Feb 28.
With the opposition spoiling for a fight, the Modi government has a tough fight on its hands to get its various ordinances through. To negotiate this opposition, it will need to be both smart and flexible. It needs a Plan B and a Plan C.
The momentum of high investor optimism has indeed taken a pause, and is, probably, waiting for strong cues from the budget
Parekh also hoped the first full Budget of the Narendra Modi government would focus on reforms without much populism, and pitched for incentives for companies to launch new projects and give a boost to the 'Make in India' campaign.
The government is expected to announce an incentive package, including tax benefits, in the forthcoming Budget for domestic manufacturers.
Rajan’s comments on the risks of moving to “Appellate Raj” should be heard by the government and FSLRC with due seriousness in the interest of the banking system. After all, banks are the guardians of public money.
The NDA government is all set to move amendment proposals to Child Labour (Prohibition and Regulation) Bill and Factories Act, 1948
The government may reduce the plan outlay for Department of Electronics and IT (DeitY) to about Rs 2,500 crorein Budget 2015
FPIs became net buyers in the Indian equities market for the week ended 20 February on the back of high expectations from the Budget 2015
Law Minister DV Sadananda Gowda on Tuesday said the Centre will introduce amendments to Arbitration and Conciliation Act 1996 in the coming budget session of Parliament to make the country investor-friendly.
For increasing the saving rate, which has dipped to 30 percent, Rajan also advocated for increasing the tax benefit for small investments in financial instruments like PPF, PF, insurance policies etc under Sec 80C.
Europe and Japan have followed the US in easing up monetary policy while trying to run a tighter fiscal ship. It has resulted in less growth and more asset inflation. India should avoid the same trap.
India Inc. wants the finance minister to cut corporate taxes and restrict the minimum alternate tax to 10 percent to boost manufacturing.
Indian budgets have never innovated much - not in terms of tax proposals, but in terms of the budget-making process itself - since colonial times. Shouldn't Jaitley be changing all that?
While referring to various revenue sources for the government including divestment, dividend and spectrum sale, the finance minister said as economic activity picks up, the government's capacity to raise revenue will also increase.
The income-tax law indeed is caught in a time warp especially for the salaried class
The Finance Ministry is considering a proposal to raise the minimum lock-in period for withdrawal from PPF account from six to eight years to attract longer term funds for infrastructure development.
Finance Minister Arun Jaitley, in the Budget 2015, is likely to target around Rs 43,000 crore from disinvestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal.
The 2015/16 budget is billed as a "make-or-break" event for Prime Minister Narendra Modi's eight-month-old government.
Centre may soon announce a special package for miners in Goa by pruning duty on exports of the steel-making raw material from 30 percent.
The government is likely to introduce a bill to amend the EPF & MP Act in the budget session of Parliament with the objective of bringing more workers under the social security benefit among other things.
CII sought a reduction in Minimum Alternate Tax (MAT) on special economic zones at 10 percent in the upcoming Budget to boost investments.
The government may consider 2-4 percent reduction in gold import duty in the forthcoming Budget, a move that could help boost exports and manufacturing of gems and jewellery
At the first meeting of Governing Council of NITI Aayog on 9 February, Prime Minister Narendra Modi will seek views of Chief Ministers and Lt Governors on Budget 2015-16
Automobile industry body SIAM wants Finance Minister Arun Jaitley to reduce excise duty on automobiles in the upcoming Budget to help the sector combat demand slowdown.
Introduction of AC rakes in the inter-city services to make the journey more comfortable will also be proposed in the Rail Budget 2015-16.
Indian manufacturers have asked the government to double import duty on tyres to 20 percent in the Budget to bring it at par with natural rubber in order to provide a level-playing field to the domestic industry.