The government hopes to achieve a lower fiscal deficit target through revenues coming in higher than expenditures.
The government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy.<br />
The Finance Ministry has cleared creation of new intelligence units across the country and appointment of over 800 personnel to check any leakage in its earnings from the indirect tax.
Despite high expectations, Arun Jaitley should do the right things in the budget rather than try to pretend he can be all things to all people. What matters is the direction of change, not its speed
Prime Minister Narendra Modi-led NDA government's maiden Budget is unlikely to offer perks for the salaried class as finance minister Arun Jaitley has limited room for big bold moves this year. According to CNBC-TV18, Jaitley may not announce any major tax exemptions for professionals due to lack of fiscal space.<br />
SMEs are the unsung backbone of the Indian economy, which is why the finance minister should address various issues affecting MSME performance in the current recessionary economic climate.
There was no Chief Econmic Advisor guiding the Economic Survey put out today. But it clearly sees the mess left behind by the UPA and sets a strong reform agenda for the NDA government
India's economy is expected to grow by up to 5.9 percent in the current fiscal year, the new government of Prime Minister Narendra Modi said in a report on Wednesday that called for fiscal consolidation to bring down inflation.<br />
Most of the news articles focus on Modi's poll promises and then ponder about how he would be able to deliver them in his government's first budget.
Though there has been one NDA government before led by Atal Behari Vajpayee, this is the first one to be presented by a government with a clear majority of its own since 1989. It has been called a right-wing government - one that is expected to be business-friendly even without abandoning the poor.<br />
Make your own budget scorecard.These are the things to look for in the budget, beyond you tax breaks. Score 1 for bad, and 5 for very good.
The Finance Minister said that all cases rising out of retrospective tax law that have already been passed will be analysed by a high level committee of CBDT before any further action is taken. <br />
In his maiden budget, Finance Minister Arun Jaitley has allotted funds to several of PM Modi's pet projects including Rs 200 cr for the Sardar Patel statue of unity.
Arun Jaitley's budget looks set to start the process of the de-Nehru-fication of government schemes. Thus new schemes will be named after BJP and non-Congress icons - Sardar Patel, Madan Mohan Malaviya.
Admitting that promotion of entrepreneurship and startup companies remains a challenge, Jaitley announces a Rs 10,000 cr fund to act as catalyst to provide equity, risk capitals for startups
Firstbiz highlights a list of announcements focussed on tax reforms, corporate tax policy, India's IT industry, and more
The government has decided to set up a committee, including representatives from the Finance Ministry, Ministry of MSMEs, and RBI to give concrete suggestions on the financial architecture of the MSME sector in three months.
The government aims to construct Ultra Mega Solar Power Projects or high capacity plants in the radiation rich states of Rajasthan, Gujarat, Tamil Nadu, and Ladakh.
Emulating the US system of taxing aerated drinks, the Finance Minister also chose to target aerated drinks but only those that contain sugar, sparing fruit juices and other aerated drinks like soda.<br />
The Ministry was allocated Rs 2,03,672 crore in 2013-14 and was provided Rs 2,24,000 crore in the interim budget presented by the UPA government in February this year.<br />
Jaitley announced an integrated Ganga development project called the 'Namami Gange' and allocated a fund of Rs 2,037 crore to it.
The Finance Minister said primary education is a major priority for the Modi government and that steps would be taken to provide minimal school infrastructure facilities.<br />
Expectations had been high that the government would utilise India's strongest election mandate in 30 years to take radical steps comparable to the 1991 market reforms that unleashed an era of high economic growth.<br />
The importance of Rs 100 crores in the Modi government's maiden Union Budget that was presented by Finance Minister Arun Jaitley today.
The emphasis on the infrastructure and manufacturing sectors is particularly welcome as these are foundational for a nation at India's stage of economic growth.
Here's the full text of the union budget speech presented by Finance Minister Arun Jaitley in the Lok Sabha today.
By almost doubling the allocation for roads and highway development in this Budget and expanding the target for highway construction, the Finance Minister has shown positive intent.<br />