Budget News - Page 30

Show me the money, banks urge FM ahead of Budget

Top on the wishlist will be capital infusion in public sector banks in the form of tier 1 capital, which will be a positive move given the under capitalisation in most of the public sector banks.

Budget 2012: What if it turns out to be a damp squib?

Forget economic reforms, the government might not even be able to substantially slash its fiscal deficit too.

Will Budget 2012 allow a demand pick-up for cement cos?

The cement industry is currently facing a double whammy due to the hike in freight rates and the possibility of an excise duty hike. Any favorable move for the industry will send cement stocks soaring

Budget Session: Black money, price rise, NCTC top agenda

While vital decisions like FDI in retail, NCTC and insurance reforms are the top issues likely to be discussed this session, a new tormentor has popped up in the form of "federalism" to confront the Congress.

Railway Budget: TMC likely to bestow favours to N-E

Trivedi is expected to make a special mention of the need for improving connectivity in North-East with the announcement a few trains and new rail line in the region as "socially and economically desirable."

Budget 2012: Tax hikes are practically inevitable

Given the ballooning fiscal deficit, it looks almost inevitable that taxes will be raised to boost government revenues in the new financial year. Tax hikes, however, carry the risk of slowing economic growth even further.

Gujarat leader of opposition suspended for entire budget session

Minister of State for Legislative Affairs Pradipsinh Jadeja moved a motion that Gohil, leader of opposition in Gujarat assembly, be suspended till he apologises to the House for his alleged remarks made two days ago in the state assembly.

Budget 2012: Why Maruti will be worst-hit by a diesel car tax

Maruti Suzuki, the country's largest car maker, could be one of the worst affected as it derives about 30 percent of its revenues from diesel vehicles.

Budget 2012: How everything went wrong for Pranab-da

An attempt at fiscal consolidation might lead to a lower fiscal deficit estimate for the new year, but the key question is, can that target be maintained?

Murthy's budget wishlist: FDI, jobs and education infra

Software icon N R Narayana Murthy is looking forward to the budget turbo-charging the economy and generating more jobs

Grant industry status to sector, FDI in retail: Realty players

Realty players wants industry status for real estate, since the sector is a major driver for economic growth and generates countless jobs across its various verticals and associated industries.

Consensus among MPs to raise I-T exemption limit to Rs 3 lakh

"There is a consensus among the members that annual tax exemption limit be raised to Rs 3 lakh," sources said after the meeting of the Parliamentary Standing Committee on Finance.

PC sales plummet below 2008 levels, makers want sops

While PC peripherals like keyboards attract zero import duty, keyboard components keypads, polycarbonate, paints and plastic attracts customs duty of 10 percent which discourages local manufacturing and hence should be corrected.

Budget 2012: No tax incentives for exporters?

Commerce Secretary Rahul Khullar has recently said that the country's exports are going to face difficulties during the coming months due to the global economic uncertainties.

PM panel wants diesel prices and tax hiked; subsidies cut

In view of the economy's deteriorating health, Prime Minister's Economic Advisory Council has suggested that excise and service tax rates be brought to pre-crisis levels.

Budget 2012: FM hopeful to meet indirect tax collection target

The excise collection jumped 6.8 percent to Rs 1.17 lakh crore.The total mop up from customs duty rose 12.7 percent to Rs 1.24 lakh crore during the 10-month period.

No need to file I-T returns if annual salary is within 5 lakh: Fin Min

Exemption from filing will be permitted only if the person has received a certificate of tax deduction in Form 16 from his or her employer.

Unearthing black money: Wealth tax on foreign deposits?

The proposal to levy wealth tax on deposits in foreign banks is part of the Direct Taxes Code (DTC) bill which is being scrutinised by a Parliamentary panel.

Budget 2012: Will bank fixed deposits get tax rebate?

The finance ministry has agreed to consider a proposal to lower the lock-in period for bank deposits eligible for tax rebate to three years from five years

Will Budget 2012 be taxpayer friendly?

After Indian tax authorities lost their tax dispute with Vodafone, it looks like the Parliament's Standing Committee on Finance is genuinely concerned about protecting the interests of investors

NGOs, don't expect any charity from FM

Under DTC, the income of non-profit organisations are proposed to be exempt.

Why Budget 2012 is so crucial for L&T, Bhel

The government is likely to impose 10 to 12 percent duty on imported power gears in the Budget for the next fiscal.

Black money holders may get red carpet in Budget 2012

Far from chasing the illegal money held abroad, the next budget may offer an amnesty scheme to bring back some of the wealth.

Budget 2012: Will tax slab relief go up to Rs 3 lakh?

BJP leader Yashwant Sinha-headed parliamentary standing committee on finance will meet today to finalise its report on the Code Bill.

Ahead of budget session, PMO asks depts for controversial issues

The PMO has written to various ministries and departments asking them to furnish notes on the controversial issues that could be raised by opposition in Parliament.