UNION BUDGET 2012

  • Union Budget aimed at fiscal consolidation: Pranab April 1, 2012

    Kolkata: Union Finance Minister Pranab Mukherjee on Sunday said the 201213 Budget was placed with a view of fiscal consolidation, moderation of inflation and bringing back India to a higher trajectory of sustainable growth. "The Union Budget of 201213 is a massive exercise in the reining in of fiscal, revenue and...
  • Budget 2012: Pay more for the comforts of life March 17, 2012

    New Delhi: Budget 2012 presented by Finance Minister Pranab Mukherjee on Friday, March 16, makes eating out and phone bills and other comforts of life costlier, pinching the common man. Increase in service tax will increase one's mobile bills by 2 per cent every month. Two and four wheelers will...
  • Punjab farmers unhappy with Union Budget 2012 March 16, 2012

    Chandigarh: Punjab farmers on Friday gave thumbs down to the Union Budget 201213 for failing in announcing any special package to reinvigorate the state s farm sector. "No package is announced for Punjabs agricultural sector which has been the food bowl of the country for decades to rejuvenate the farm sector...
  • Infographics: Union Budget 201213 March 16, 2012

    Graphical representation of the highlights of Pranab Mukherjee's Union Budget for 201213. ...
  • Budget tolerable, could have been better: TMC March 16, 2012

    New Delhi: The Trinamool Congress gave a mixed response to the Budget presented by Finance Minister Pranab Mukherjee. TMC leader Sudip Bandhyopadhyay said that the Budget was 'tolerable', but could have been better. "The Budget is tolerable, but more could have been done for agriculture," Bandhyopadhyay said. He also said that the...
  • When time comes, we have to bite the bullet: PM March 16, 2012

    New Delhi: Prime Minister Manmohan Singh on Friday applauded the Budget presented by Finance Minister Pranab Mukherjee. "The Budget aims at faster, equitable, sustainable and more inclusive growth," he said in an interview with Swaminathan Aiye. "The Finance Minister has been able to address the twin tasks of checking inflation and...
  • Budget will bring economy back on track: Pranab March 16, 2012

    New Delhi: After presenting the Budget 2012 in Parliament, Finance Minister Pranab Mukherjee said that the Budget presented by him was one for growth with stability on the price front. In an interview with Lok Sabha TV, Pranab said that the primary concern of the Budget was how to bring back...
  • Budget: Excise duty hiked from 10 pc to 12 pc March 16, 2012

    New Delhi: Finance Minister Pranab Mukherjee announced a two percentage point hike in the peak excise duty from 10 per cent to 12 per cent. He also proposed to set up a common tax code for service tax and excise duty. This hike in excise duty means auto companies now have...
  • Budget 2012: Fiscal deficit at 5.1 pc of GDP March 16, 2012

    New Delhi: Finance Minister Pranab Mukherjee sees fiscal deficit at 5.1 per cent of the gross domestic product (GDP) for the fiscal year 2013. The number was on expected lines but the market borrowing figure of Rs 4.79 lakh crore (93 per cent of deficit) was higher than most analyst...
  • Budget 2012: Full text of Pranab Mukherjee's speech March 16, 2012

    Budget 20122013 Speech of Pranab Mukherjee Minister of Finance March 16, 2012 Madam Speaker, I rise to present the Union Budget for 201213. For the Indian economy, this was a year of recovery interrupted. When one year ago, I rose to present the Budget, the challenges were many, but there was a sense that...
  • Union Budget 2012: Highlights March 16, 2012

    New Delhi: Budget 2012, presented by Finance Minister Pranab Mukherjee, identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters. Following are the highlights of Budget 2012: GDP growth to be 7.6 per cent (+ 0.25 percent) during 201213 Amendment to the FRBM Act proposed ...
  • Budget trivia: Did you know? March 16, 2012

    New Delhi: Finance Minister Pranab Mukherjee will present the Budget 2012 in Parliament on Wednesday. Here are a few facts about the Union Budget: Who has presented the maximum number of budgets and how many times? Morarji Desai, 10 budgets Who are the Prime Ministers to have presented...
  • 'If I were FM, I would allot more money for Arts students' March 11, 2012

    CNNIBN has been travelling across the country and speaking to citizens about what they want from the finance minister this year. ...
  • Budget 2012: Slowdown bug catching twowheelers too? March 9, 2012

    After a strong growth over the last two years, twowheeler sales seem to have hit speed bumps. Inventories are piling up at dealers and analysts warn of subdued growth going ahead. "Although the yearonyear volume growth of the industry remained in double digits, the pace of growth during the third quarter...
  • 'If I were FM, I would decrease oil prices' March 9, 2012

    CNNIBN travels across the country to know what the country wants from the Finance Minister this budget. ...
  • Budget 2012: Aam Aadmi wants to save more March 9, 2012

    New Delhi: Tax experts have always been advising us to save for our retirement and for our family, and all the savings can even help us save on income tax. But is the government encouraging us to put away enough? Many Indians want to be able to save much more. Anya,...
  • KPMG: possible Budget impact on jobs, increments March 7, 2012

    New Delhi: One question that always engulfs a salaried worker in India is the impact of an impending Union Budget on hiring by firms and on salary hikes. With the rapidly changing policy environment, companies need to proactively readjust their talent strategy. Also with the Union Budget 201213 on the...
  • State FMs to meet over Union Budget March 3, 2012

    New Delhi: Ahead of the Union Budget, Finance Ministers of all the states will be meeting in New Delhi on Saturday. They are expected to suggest steps to increase the ambit of the service tax net. The ministers have also prepared a negative list and are expected to sort out issues...
  • Close look at borrowing must: exFin Secy March 2, 2012

    When Finance Minister Pranab Mukherjee presents the Union Budget 2012 on March 16, experts will be keenly hearing his comments on fiscal deficit. India's fiscal deficit is a cause for worry now. It is expected to exceed the targeted 4.6% of GDP. Former finance secretary S Narayan says, fiscal deficit...
  • '2012 will be year of growth in realty' March 2, 2012

    J C Sharma, MD, Sobha Developers believes that the forthcoming Budget will decide how the demand situation will pan out going forward. However, Sharma feels that the worst is behind for the real estate sector with the Reserve Bank of India giving clear indications that interest rates have reached the...
  • Standard asset tag for restructured loans March 2, 2012

    The Reserve Bank of India (RBI) is likely to introduce two years timeline for restructured assets to be classified as standard assets, sources told CNBC TV18. This means, restructured assets can be treated as standard assets after two years. However, if the loan account slips even after the upgradation, it...
  • 'Power sector needs service tax relief in Budget' February 20, 2012

    By Ramesh Chandak Indian Power sector is in crises. It is not only a sectoral challenge but now has become a national challenge. The Shunglu Committee has said that Discom (distribution companies) losses are over Rs 100,000 crore and largely funded by the banks, so even the banks will have an...
  • Cement makers want Budget to end anomaly February 20, 2012

    New Delhi: Cement makers on Monday requested the government to bring to an end the existing anomaly, where duty on import of inputs is higher than on finished product, in the forthcoming Budget. "The Government should scrap import duty on coal, pet coke, gypsum and other fuels. The cement industry is...
  • Panel to finalise report on agriculture before Budget February 17, 2012

    A Committee of Governors, constituted by President Pratibha Patil, will finalise a report on revamping the agriculture sector before the forthcoming Budget, Christy Fernandes, secretary to the President, said on Thursday. The report will help both the Finance Minister and the Planning Commission to come up with right policies and programmes...
  • Excise duty hike will impact industry: CII February 16, 2012

    New Delhi Amid moderation in industrial output, CII on Wednesday said any hike in excise duty from the current 10 per cent would further impact growth and also put burden on consumers. In its preBudget memorandum to the Finance Ministry, the industry chamber has recommended continuation of 10 per cent standard...
  • Union Budget 2012: what's in it for me? February 16, 2012

    With the budget season approaching there are a lot of discussions and aspirations of what the budget would have in store for us. However there are a few questions which most people have in mind like what exactly is the union budget? How is it going to affect me? Do...
  • Union Budget to decide market sentiment February 13, 2012

    Mumbai, Last week was indeed flat and positive with NIFTY gaining back almost all that it had lost during the first few days. Immense fund flow clubbed with retail participation helped NIFTY to move above 5400, hinting that the markets are entering another bull phase. NIFTY is on a consolidation...