ARUN JAITLEY

  • Tax evasion through foreign assets to be a criminal offence 11 hours 51 minutes ago

    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...
  • Muthoot Group welcomes Budget 2015, says government reaching out to poor 14 hours 39 minutes ago

    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 20 hours 25 minutes ago

    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...
  • Top NRI industrialists say budget lays road map for growth Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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: Lighter side of Budget 2015 Yesterday

    CNN-IBN's Sayoni Aiyar takes a look at the funny side of Union Budget 2015. ...
  • Watch: 'The Week That Wasn't' with Cyrus Broacha Yesterday

    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. ...
  • Government targets to collect Rs 1 lakh crore in dividend next fiscal Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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...
  • Imported mobiles, tablets to cost dear as excise duty goes up to benefit domestic producers Yesterday

    New Delhi: In a move to boost local manufacturing of mobile phones and tablets, the government increased duty benefits for domestic producers of these electronic items. Excise duty structure for mobiles handsets, including cellular phones, is being changed to 1 per cent without CENVAT credit or 12.5 per cent with CENVAT...
  • Finance Minister fulfils 3 out of 5 demands put forth by CNN-IBN in Budget 2015 Yesterday

    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 Yesterday

    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 Yesterday

    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 Yesterday

    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' Yesterday

    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 Yesterday

    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 Yesterday

    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,...
  • Gold prices to rise after Budget keeps import duty high Yesterday

    Mumbai: Gold premiums in top consumer India could jump to as much as $5 an ounce over world prices next week, from being almost at par, after Finance Minister Arun Jaitley surprised jewellers by maintaining import duty at a record level in Saturday's budget. The wedding season that extends to May...
  • Those opposing new Land Bill are against rural infrastructure: Arun Jaitley Yesterday

    New Delhi: Dismissing charges of new Land Bill of the BJP-led NDA government being "anti-farmer", Finance Minister Arun Jaitley on Saturday alleged those who are opposing it are against rural infrastructure creation. He said in fact it was the 2013 Land Bill that was "anti-farmer". "According to me, if there is anything...
  • Breaking Toons: Union Budget 2015 2 days ago

    Cartoonist Neelabh takes on the first full-year Budget of the NDA government presented by Finance Minister Arun Jaitley on Saturday in Parliament. ...
  • Union Budget 2015: Corporate tax to be cut by 5 per cent in 4 years; no change for individuals 2 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a 5 per cent reduction in corporate tax over next four years, abolished wealth tax and replaced it with an additional 2 per cent surcharge on super-rich individuals, while increasing service tax that will result in higher cost of variety of...
  • Union Budget proposes schemes to widen social security net 2 days ago

    New Delhi: In order to ensure social security and promote public health, the government on Saturday proposed a slew of schemes like Pradhan Mantri Suraksha Bima Yojna, ATAL Pension Yojana and tax incentives for National Pension System. "A large proportion of India's population is without insurance of any kind - health,...
  • New budget growth oriented, but short of big reforms: US media 2 days ago

    Washington Describing the first full-fledged annual budget of the new Indian government as growth oriented, the American media on Saturday said the announcements made by Finance Minister Arun Jaitley will boost investment and focus on infrastructure. The budget promises to boost growth with a major increase in public spending on infrastructure...