Budget 2013 14

  • The government took too long to get its act together: Montek March 5, 2013

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia lauded P Chidambaram's suggested measures during the Budget speech on Thursday and said the Finance Minister cleared up many doubts in the mind of foreign investors that could invite more investments and boost economy. He also said that Chidambaram's efforts will...
  • In the present context, this could be the best possible Budget: Ashutosh March 1, 2013

    Is the Budget 2013-14 drafted, keeping the 2014 general elections in mind? IBN7's Managing Editor Ashutosh shared his perspective in an interaction with IBNLive readers. Q. Isn't this budget is more like "I won't promise and I wont deliver". Asked by: Jack A. I think this is...
  • A pragmatic Budget given the tough economic realities: Meera Sanyal on Budget 2013 March 1, 2013

    Is the Income Tax surcharge on the super-rich the right way? Meera Sanyal, Country Executive India, Royal Bank of Scotland Group (RBS Group), joined IBNLive readers for an interaction on the issue. Q. Can the FM not order RBI to reduce borrowing costs and damn inflation? Asked by: sri ...
  • Budget can only indirectly influence the road to recovery: Sanjay Banerji March 1, 2013

    Is the Union Budget 2013-14 the right thing for India? Professor of Finance at Nottingham University Business School Sanjay Banerji shared his perspective in an interaction with IBNLive readers. Q. Taxing the super-rich is ok but can this type of budget lead the road to recovery? It's good that garments,...
  • Which sport got richer by how much in Budget 2013-14 March 1, 2013

    New Delhi: The increase of Rs 214 cr in the 2013-14 budget allocated to the Ministry of Youth Affairs and Sports has been welcomed with open arms by sportspersons and sports lovers alike. On that note, it's interesting to throw light on which sport has been allotted more to spend...
  • How do India's top politicians respond to Chidambaram's budget? February 28, 2013

    In a special CNN-IBN show 'The Budget Debate', Karan Thapar discusses with a panel if the Union Budget presented by Finance Minister P Chidambaram assures that it can handle the critical economic situation the country is facing. Union Minister Kapil Sibal, CPI-M leader Sitaram Yechury and BJP leader Arun Jaitley...
  • Budget disappoints aviation, hospitality industry experts February 28, 2013

    New Delhi: Aviation and hospitality industry experts on Thursday expressed disappointment at the 2013-14 General Budget, saying contentious issues like high sales tax on jet fuel and taxation on travel trade had not been addressed. While welcoming the concessions granted to the MRO (Maintenance, Repair and Overhaul) sector, they, however,...
  • Govt proposes a whopping increase in agri-credit target February 28, 2013

    New Delhi: In a big boost to farm sector, Finance Minister P Chidambaram on Thursday proposed a whopping Rs 1.25 lakh crore increase in agri-credit target for next fiscal at Rs 7 lakh crore and raised allocation to the ministry by a handsome 22 per cent. Presenting the Union Budget...
  • The Budget does not seem to address the fundamental problems confronting the economy: Surajit Mazumdar February 28, 2013

    Is the Union Budget 2013-14 good for India? Ambedkar University's associate professor of Economics Surajit Mazumdar shared his perspective in an interaction with IBNLive readers. Q. Is the Union Budget 2013-14 good for India? Asked by: Kamya A. The Budget does not seem to address the fundamental problems...
  • If the government reduces its spending, inflation rate should fall: Vivian Fernandes February 28, 2013

    How will Budget 2013 impact you? Senior journalist Vivian Fernandes shared his perspective in an interaction with IBNLive readers. Q. Just seen some points, highlights, from tax benefit perspectives, investment guide lines etc. seems to be that government is directionless and they are just pulling on. What do you think....
  • Budget will not impact India's sovereign ratings: S&P February 28, 2013

    New Delhi: Global rating agency Standard & Poor's on Thursday said the Union Budget for fiscal year 2013-14 will have no impact on the country's sovereign credit rating. "The latest budget details have no rating impact on our sovereign credit rating on India (BBB-/Negative/A-3)," S&P said in a statement. The...
  • 'First time buyers should take home loan after April 1' February 28, 2013

    Tax expert Subhash Lakhotia joined IBNLive readers for an interaction on the impact of Budget 2013 on taxes and investments. Q. My CTC is 12, is there any benefit/loss to me as per new Budget? Asked by: namish A. You will have only one benefit namely of...
  • The previous FM was such a spendthrift that this FM had no scope to do anything growth-oriented: Lata Venkatesh on Budget 2013 February 28, 2013

    CNBC-TV18 Banking Editor Latha Venkatesh joined IBNLive readers for an interaction on the bigger implications of Budget 2013 for the Indian economy. Q. Is the budget good for a citizen whose Annual income is about Rs 5 lakhs p.a and supporting a family of 5? Asked by: ranjit ...
  • Nitish hails PC for promise to revisit special status criteria February 28, 2013

    Patna: Bihar Chief Minister Nitish Kumar on Thursday hailed Finance Minister P Chidambaram for promising to revisit criteria for special category status and said that it was a 'victory in-principle' for Bihar in view of its consistent demand for grant of such a status. "We have been demanding review of...
  • Galvanised steel makers to benefit from Budget 2013 February 28, 2013

    New Delhi: Galvanised steel makers like SAIL and Tata Steel will reap benefits with the Budget 2013-14 bringing down export duty on certain items to nil from 7.5 per cent earlier. Finance Minister P Chidambaram in his Budget has proposed to extend "full exemption from export duty" to galvanised steel...
  • Budget 2013: Luxury homes to cost more February 28, 2013

    New Delhi: Finance Minister P Chidambaram on Thursday announced a Rs 2,000 crore urban housing fund, while making luxury homes costlier by cutting abatement on service tax on a flat with a floor area of over 2,000 sq ft, or prices exceeding Rs 1 crore. The Budget for 2013-14 also...
  • 18 paise out of each rupee to go for interest payment February 28, 2013

    New Delhi: For every rupee the government proposes to spend in 2013-14, as much as 18 paise will go for paying interests. As per Budget 2013-14, presented by Finance Minister P Chidambaram in Parliament on Thursday, Central Plans expense will see a slight decline at 21 paise out of the...
  • Special plans proposed for minorities, women in budget February 28, 2013

    New Delhi: Apart from making allocations for exclusive sub plans for scheduled castes and scheduled tribes, Budget 2013-14 has special plans for minorities, women and children as well as persons with disabilities. While presenting the Annual General Budget, Finance Minister P Chidambaram said the budget had sub plans for welfare...
  • SP, BSP describe Union Budget 2013-14 as 'anti-poor' February 28, 2013

    New Delhi: The Samajwadi Party and the Bahujan Samaj Party, outside supporters of the UPA government, on Thursday slammed the Union Budget, describing it as "anti-farmer, anti-worker and anti-poor" with Mulayam Singh Yadav vowing to oppose it in Parliament. "This budget has completely ignored the farmers. It is only meant...
  • Budget 2013: Speech gets modern on quotes February 28, 2013

    New Delhi: In a marked shift from quoting words of ancient Indian economist Kautilya and Shakespeare by earlier Union Finance Ministers, P Chidambaram chose to quote from the contemporary economist Joseph Stiglitz in his Union Budget proposals on Thursday. Presenting the Union Budget for 2013-14 in Parliament, Chidambaram also quoted...
  • PM hails budget, says it will encourage investment February 28, 2013

    New Delhi: Hailing the budget, Prime Minister Manmohan Singh on Thursday said it would reverse the pessimistic mood and lay the roadmap for investments as he expressed confidence of returning to eight per cent growth within three years. Singh listed fiscal deficit, inflation and current account deficit as three barriers...
  • Union Budget 2013-14: The funniest tweets February 28, 2013

    Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. But with an eye firmly on the Lok Sabha elections which are scheduled for early 2014, Chidambaram also focused on...
  • Budget 2013: Chidambaram has done a commendable job, says PM February 28, 2013

    Prime Minister Manmohan Singh praised Finance Minister P Chidambaram for the budget he presented in Parliament on Thursday. "The Finance Minister has done a commendable job given the challenges faced by economy," he said. ...
  • Govt allows FIs to raise Rs 50,000 cr via tax-free bonds February 28, 2013

    New Delhi: To encourage investment in the infrastructure sector, some financial institutions have been allowed to raise about Rs 50,000 crore from tax-free bonds in 2013-14. "I propose to allow some institutions to issue tax-free bonds in 2013-14 strictly based on the need and capacity to raise money in the...
  • Budget 2013: Respite for foreign investors, norms simplified February 28, 2013

    New Delhi: Looking to attract more foreign investment into the stock market, Finance Minister P Chidambaram on Thursday said procedures for overseas investors would be simplified besides having uniform KYC norms for them. "Sebi will simplify the procedure for the Foreign Portfolio Investors and prescribe uniform registration and other norms...
  • 'Nirbhaya Fund' to be set up for empowerment of women February 28, 2013

    New Delhi: Paying a tribute to the 23-year-old Delhi braveheart, the government on Thursday announced setting up 'Nirbhaya Fund' of Rs 1,000 crore for safety and empowerment of women. Nirbhaya (fearless) was the pseudonym given to the victim to hide her actual identity. The announcement of Rs 1,000 crore fund...
  • Chidambaram proposes 10 per cent surcharge on super-rich February 28, 2013

    New Delhi: The much-debated additional tax for super-rich found favour with the government as Finance Minister P Chidambaram on Thursday proposed a 10 per cent surcharge for a year on income above Rs one crore. The proposal will cover 42,800 individuals and entities. "When I need to raise resources, who...
  • Chidambaram presents his eighth Union Budget February 14, 2014

    New Delhi: Finance Minister P Chidambaram on Wednesday presented his eighth annual budget in Parliament, the second highest by anyone in the country after a record 10 by former prime minister Morarji Desai. Overall, it was 82nd Union Budget in the Indian history, including interim and special-situation budgetary proposals, since...
  • India's first all-women bank to be set up by October February 28, 2013

    New Delhi: The country is all set to get an all-women bank by 2013 with the government announcing an initial capital of Rs 1,000 crore for the purpose. Announcing the Budget proposals for 2013-14, Finance Minister P Chidambaram said the bank is likely to be set by October, 2013. "I...propose to...
  • Highlights: Union Budget 2013-14 February 14, 2014

    New Delhi: The Union Budget for 2013-14 aims at higher growth rate leading to inclusive and sustainable development as 'mool mantra'. Finance Minister P Chidambaram makes three promises: to women, the youth and the poor. - Nirbhaya Fund to empower women and to keep them safe and secure, proposal to...