UNION BUDGET

  • Rail Budget debate in Rajya Sabha: Members want safety, amenities March 16, 2015

    New Delhi: Members from various parties on Monday voiced concern in Rajya Sabha over various aspects concerning the railways, particularly safety and security and lack of facilities and timeliness and asked the government to rectify it. These issues were raised by members while participating in a debate on Rail Budget...
  • All services will not attract Swachh Bharat cess: officials March 8, 2015

    New Delhi: The Swachh Bharat cess will be levied on select services at the rate of up to 2 per cent, depending upon the need for funds to take forward Prime Minister Narendra Modi's national cleanliness drive. This was explained to a group of tax experts by Finance Ministry officials during...
  • PM Modi asks BJP MPs to make people aware of Union budget March 3, 2015

    New Delhi: Stating that the 2015-16 Budget had something in it for every Indian, Prime Minister Narendra Modi has asked BJP MPs to make people aware of its features. At a parliamentary party meeting of BJP legislators, the party which leads the government also reiterated its resolve about getting various...
  • Watch: 'The Week Hour Wasn't' with Cyrus Broacha March 3, 2015

    In this episode of 'The Hour That Wasn't', Cyrus Broacha takes on the Union Budget 2015, swine flu, Oscar and Cricket World Cup. ...
  • No definite date to bring back black money: Government March 3, 2015

    New Delhi: Government on Tuesday said that it was not possible to provide a definite timeline on bringing back the black money stashed abroad. "Sustained efforts made to obtain information about Indians having black money stashed abroad have already resulted in levy of taxes and penalty and launching of prosecution...
  • Tax evasion through foreign assets to be a criminal offence March 2, 2015

    New Delhi: The announcement by Finance Minister Arun Jaitley categorising tax evasion in relation to holding of illegal foreign assets as a "predicate offence" under anti-money laundering laws has, for the first time, made concealment of income a criminal offence in India. At present, tax evasion is a civil offence...
  • Cut in education budget due to higher tax devolution to states: Smriti Irani March 2, 2015

    New Delhi: The huge cut of 16 per cent in the education sector for 2015-16 has been attributed to the higher tax devolution to the states as has been recommended by the Finance Commission. The Union Budget presented for 2015-16 has proposed Rs 69,074 crore as against Rs 82,771 allocated...
  • Muthoot Group welcomes Budget 2015, says government reaching out to poor March 2, 2015

    New Delhi: The corporate sector welcomed the first full-fledged Budget of the Narendra Modi government presented by Finance Minister Arun Jaitley on February 28. The government has reduced the corporate tax from 30 per cent to 25 per cent for four years. Welcoming the Budget, The Muthoot Group Chairman MG...
  • Narendra Modi passes Budget test despite lack of reform dazzle March 2, 2015

    New Delhi: India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. The budget presented by Finance Minister Arun Jaitley on Saturday loosened...
  • Government cuts spending on education, health of children: NGO March 2, 2015

    New Delhi: The Union Budget for 2015-16 has cut spending on child education, development, health and protection as compared to last year, child rights organization CRY has said. Criticising the Union Budget for 2015-16, NGO Child Rights and You (CRY) has said "in absolute terms" child budget has decreased from...
  • Top NRI industrialists say budget lays road map for growth March 1, 2015

    London: Leading NRI industrialists have given a thumbs up to India's 2015-16 Budget, saying it would improve investment climate and laid a clear roadmap for placing the country on a double-digit growth trajectory. The Hinduja brothers who run the multi-billion dollar global business empire covering automotive, IT, trading, oil, banking...
  • Arun Jaitley's Union Budget fails the test of tackling rising inequality, says P Chidambaram March 1, 2015

    New Delhi: Former finance minister P Chidambaram tore into the BJP-led NDA government's first full-year Union Budget presented on Saturday. Targeting Finance Minister Arun Jaitley, Chidambaram said the Budget failed the test of tackling rising inequality, cruelly neglected the already poor and gave too much to the rich. "This Budget...
  • Completely wrong to call Budget pro-corporate: Centre March 1, 2015

    New Delhi: Rebutting criticism that proposals in the Budget for 2015-16 are pro-corporate and anti-poor, government on Sunday said the views are "completely wrong and ill founded" and not backed by any data. "They (critics) are completely wrong...it is ill founded, misguided and certainly not backed up with any data,"...
  • Low-cost housing sector flay Budget March 1, 2015

    Mumbai: The Budget has failed to offer any incentives to the affordable housing sector which is already facing risks in form of high costs and low margins, industry leaders said. "The Budget is disappointing. The affordable housing sector was expecting that the Narendra Modi government, like last time, would extend...
  • Punjab farmers unhappy with Union Budget March 1, 2015

    Chandigarh: Punjab's farming sector has expressed disappointment over the Union Budget for not taking "pro-farmers" decision to provide much-needed fillip to the state's agriculture which has been suffering with "high" input cost and "lower" output prices. Even the farm experts have also expressed displeasure with the budget for not announcing...
  • Union Budget 2015: Super rich senior citizens to take biggest hit March 1, 2015

    New Delhi: Individuals with an annual income of above Rs 10 lakh but below Rs one crore have emerged as the biggest beneficiaries of the new taxation proposals, if they are aged below 60 years, while the super rich above this age bracket will be hit the hardest. ...
  • Watch: 'The Week That Wasn't' with Cyrus Broacha March 1, 2015

    In this episode of 'The Week That Wasn't', Cyrus Broacha takes on World Cup 2015 and the Union Budget 2015 presented by Arun Jaitley. ...
  • Walmart sees Budget 2015 driving domestic consumption, retail growth March 1, 2015

    New Delhi: Retail giant Walmart sees an increase in India's domestic consumption and retail growth over a period of time on the back of social security measures proposed in the Budget. The company, which has decided to focus only on wholesale business in India owing to several restrictions in the multi-brand...
  • Government targets to collect Rs 1 lakh crore in dividend next fiscal March 1, 2015

    New Delhi: The government aims to collect over Rs 1 lakh crore in dividend from public sector companies and banks in 2015-16, a 13 per cent increase over previous year. The government will collect Rs 88,781 crore on account of dividends in the current fiscal, the Budget document shows. All profit-making central...
  • Budget 'credit neutral' from a ratings perspective: Moody's March 1, 2015

    Mumbai: Moody's Investors Service said India's 2015/16 budget unveiled on Saturday was "credit neutral," adding the agency would monitor whether the government can fulfill its pledge to meet its fiscal deficit by boosting economic growth. The government on Saturday pushed back the deadline to cut the fiscal deficit to 3 per...
  • In pics: Budget at a glance March 1, 2015

    Finance Minister Arun Jaitley on Saturday announced a Budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of PM Narendra Modi's willingness to reform a $2 trillion economy with a...
  • In pics: Budget in numbers March 1, 2015

    Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of the PM's willingness to reform a $2 trillion economy with a bloated...
  • Narendra Modi regime cracks down on black money, will have one time compliance opportunity: sources March 1, 2015

    New Delhi: A day after Finance Minister Arun Jaitley presented his first full-fledged Budget, the Narendra Modi government took the first step towards cracking down on black money. The Centre will soon introduce one time compliance opportunity, said Finance Ministry sources on Sunday. Sources said the government expected huge revenue collection...
  • Finance Minister fulfils 3 out of 5 demands put forth by CNN-IBN in Budget 2015 March 1, 2015

    The Finance Minister has fulfilled 3 out of 5 demands put forth by CNN-IBN. Transport allowance has been doubled to 1600 rupees per month and both health insurance benefits and tax exemption limit under the new pension scheme have been increased. ...
  • Budget 2015 in favour of corporate sector, says P Chidambaram March 1, 2015

    New Delhi: Former Finance Minister P Chidambaram tore into the Union Budget presented by Finance Minister Arun Jaitley and said it was in favour of corporate sector and was "unkind" to the poor and could fail the targeted 8 per cent growth next year. "One cannot avoid the feeling that the...
  • India keeps tight rein on public health spending in 2015-16 Budget March 1, 2015

    New Delhi: The Indian government on Saturday kept its healthcare Budget for 2015-16 on a tight leash and asked states to contribute more funds for running the country's flagship health programmes. The government announced 297 billion rupees ($4.81 billion) for its main health department, roughly 2 per cent higher than current...
  • Union Budget 2015: India to inject $1.3 billion to shore up state banks March 1, 2015

    Mumbai: India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending. Successive governments have poured billions into India's bad-debt burdened state banks,...
  • Budget 2015: India vows tough punishments to bring home 'black money' March 1, 2015

    New Delhi: India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. In his Budget address on Saturday, Finance...
  • Budget woos foreign investors with tax incentives March 1, 2015

    Mumbai: India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments. The measures, part of the government's budget for the next fiscal year, come amid growing concerns about foreign investors...
  • FM Arun Jaitley drapes Budget speech documents in tri-colour March 1, 2015

    New Delhi: Ending an age-old convention, the Finance Ministry on Saturday came out with the Budget documents displaying different colours and a photograph of Parliament. The Budget speech, which is usually in plain blue, was this time in tri-colour - saffron, white and green. The other documents - Budget at a Glance,...