BUDGET 2013

  • Tax proposals in force, many items costly April 1, 2013

    New Delhi: The new tax policy and charges announced in Union Budget and Railway Budget 201314 have become applicable from Monday. Sparing the common man and taxing the superrich both individuals and corporate houses, Union Finance Minister P Chidambaram has increased social spending but stayed away from blatant...
  • Chidambaram expects growth rate to move up to 7 pc in two years March 14, 2013

    New Delhi: Seeking to dispel fears over the state of economy, Finance Minister P Chidambaram on Thursday said the country will return to high growth of 7 per cent in two years and promised adequate public spending to stimulate it. Replying to a debate on the Budget 2013-14 in the...
  • DTC bill will be introduced in Budget session: FM March 9, 2013

    New Delhi: Finance Minister P Chidambaram on Saturday said the government wants to introduce the Direct Tax Code (DTC) bill in the Budget session of Parliament. He also said that Goods and Service Tax (GST) would become a reality within 2013, if all state governments come on board. "We are working...
  • Committee to prepare blueprint for women's bank March 9, 2013

    New Delhi: The government on Friday set up a committee headed by former chairman and managing director of Canara Bank MBN Rao to prepare the blueprint for the country's first women's bank. The six-member committee has been asked to submit its report by April 30, 2013, the finance ministry said in...
  • Budget 2013: CNBC TV18 beats the rest March 8, 2013

    CNBC TV18 has emerged as the clear winner as far as the race for the leadership position for business channels coverage of the Union Budget is concerned. Despite its bevy of competitors, CNBC TV18 has managed to stay ahead and remain the head of the pack. Here's what the share of...
  • 'Nothing can stop India from becoming 3rd largest economy' March 5, 2013

    New Delhi: Finance Minister P Chidambaram answered questions about Budget 2013 using Google Hangout, a multi-person online video chat, on Monday. Chidambaram joined the camp of other personalities like Barack Obama to use Google Hangout to reach out to people. 9:00 pm We don't have the space to do anything...
  • Read transcript of Chidambaram's Google+ Hangout March 5, 2013

    New Delhi: Finance Minister P Chidambaram answered questions about Budget 2013 using Google Hangout, a multi-person online video chat, at 8:00 pm on Monday. Chidambaram joined the camp of other personalities like Barack Obama to use Google Hangout to reach out to people. During the social media chat, the Finance Minister...
  • Watch: P Chidambaram in a Google+ Hangout on Budget 2013 March 4, 2013

    Union Finance Minister P Chidambaram joined a Google+ Hangout to field questions on Budget 2013-14. Joining the Finance Minister in the Hangout were Anand Mahindra, chairman and MD, Mahindra & Mahindra; Jahangir Aziz, senior Asia economist and India chief economist, JP Morgan; Manish Chokhani, MD & CEO, Axis Capital; and...
  • Moody's gives thumbs up to Budget 2013 March 4, 2013

    Mumbai: India's 2013/14 budget unveiled last week offers a "realistic" plan to meet the country's fiscal deficit target, and should be a credit positive for its sovereign ratings, Moody's Investors Service said in a report on Monday. India's fiscal consolidation plans could pave the way for monetary easing, thus helping revive...
  • Chidambaram warns tax dodgers, rules out amnesty March 4, 2013

    New Delhi: In warning to tax dodgers, Finance Minister P Chidambaram on Sunday said that a huge amount of data is being mined to go after them and ruled out any amnesty scheme for defaulters. "No. In income tax there is no case for amnesty. Because now almost all returns...
  • The government took too long to get its act together: Montek March 3, 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...
  • All-women bank to start operations from Nov: Chidambaram March 3, 2013

    New Delhi: India's first all-women bank will start operations from November this year through six branches spread across the length and breadth of the country, Finance Minister P Chidambaram said today. "It will be inaugurated in November. Initially we should start with at least one branch in each major region...
  • More announcements to promote growth: Chidambaram March 3, 2013

    New Delhi: A number of non-legislative decisions covering customs, excise, service tax, insurance and banking to promote growth will be announced in Parliament before the passage of the Finance Bill. Disclosing this here today, Finance Minister P Chidambaram said that the budget presented by him on February 28 focussed on...
  • 'Tax dept to send notices to 35,000 assesses next week' March 3, 2013

    New Delhi: Finance Minister P Chidambaram on Saturday said the revenue department will send tax notices to 35,000 assesses next week, beefing up efforts to reach the collection target for the fiscal. "We have issued notices to 35,000 people saying that on the basis of information we have, you should have...
  • Overdrive: Impact of Budget 2013 on auto enthusiasts March 2, 2013

    The episode also features a review of the Hyosung Aquila Pro. ...
  • Need to review subsidies enjoyed by better-off sections of society, including the middle class: Jairam Ramesh March 2, 2013

    New Delhi: The Ministry of Rural Development was allocated just Rs 5000 crore, more than the Rs 74,000 crore in 2012. However, the big story in the Rural Development Ministry is the inability to spend the allocated amount. Expressing unhappiness over it, Rural Development Minister Jairam Ramesh said, "I accept...
  • Bank for women mere 'tokenism': Justice JS Verma March 2, 2013

    Aligarh: Former Chief Justice of India JS Verma, who headed a panel that examined laws on crimes against women, on Saturday said in the absence of meaningful social change, measures like the proposed special bank for women were merely tokenism in quest for securing gender justice in the country. Delivering the...
  • GST will happen, is in India's interest: Montek March 2, 2013

    New Delhi: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said he is hopeful that the much delayed Goods and Services Tax (GST) will be implemented across the country no later than next year while speaking to Karan Thapar on Devil's Advocate. Below is an excerpt of the interview: Karan...
  • Don't buy so much gold: P Chidambaram March 2, 2013

    New Delhi: Finance Minister P Chidambaram appealed to people not to buy so much gold as a way of reducing hefty imports, speaking on CNBC-TV18 a day after his 2013-14 Budget surprised traders by keeping gold import duty unchanged at 6 per cent. Speaking to CNBC-TV18, Chidambaram said, "Our CAD is...
  • FM seeks to reassure after tax proposal sparks alarm March 2, 2013

    Mumbai: Finance Minister P Chidambaram sought to ease concerns it was targeting double taxation treaties on Friday, saying a proposal that sparked alarm among foreign investors was clumsily worded. Chidambaram's reassurances mark the second day in a row the minister has had to address the confusion sparked by the amendment unveiled...
  • UPA will fight elections on plank of high growth: PC March 1, 2013

    New Delhi: Finance Minister P Chidambaram on Friday said that the UPA will face 2014 General Elections on the plank of high growth and low inflation. Speaking to Shereen Bhan of CNBC TV18 in an exclusive interview, Chidambaram said that there isn't and never was a danger of rating downgrade...
  • 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...
  • Sports Ministry expresses satisfaction with budget March 1, 2013

    New Delhi: The union sports ministry on Thursday expressed satisfaction at a Rs.214 crore increase in its budget allocated by Finance Minister P. Chidambaram in the 2013-14 budget. Chidambaram earmarked Rs.1,219 for the ministry of youth affairs and sports in the budget presented to parliament on Thursday. Last year, the...
  • Snapshot: P Chidambaram with his grand daughter March 1, 2013

    Union Finance Minister P Chidambaram is wished luck by his grand daughter Aditi Nalini as he leaves his residence to present the Annual Budget 2013-14 in Parliament, in New Delhi on February 28. PTI Photo by Manvender Vashist. ...
  • Budget and Bollywood: 'Taxing' times ahead for stars March 1, 2013

    It's that time of the year when the government hikes the taxes and we tax the stars. We're calling the shots on the cuts and increases in B-town's accounts and taking charge of its purse-strings. ...
  • Budget 2013: End the 'chalta hai' attitude, says Narayana Murthy March 1, 2013

    New Delhi: Finance Minister P Chidambaram presented his eighth budget on Thursday, the last before the 2014 elections. Experts have called it a balancing budget aimed at reviving growth amid an economic slowdown. Reacting to the Budget, Infosys co-founder NR Narayana Murthy has questioned the laid back attitude of successive...
  • Budget 2013 gets mixed response, India Inc calls it good, Oppn slams it March 1, 2013

    New Delhi: Finance Minister P Chidambaram's 'safety first' Budget has got a mixed response. While some say he is salvaging a bad situation, the Opposition has called it a missed opportunity. When asked whether the Budget is an adequate response to the challenge that the Indian economy is facing, BJP...