Watching cable and satellite TV may turn expensive with the government proposing to double import duty on set top boxes (STBs) to 10 per cent but domestic manufacturers have welcomed the move. Reacting to Finance Minister P Chidambaram's announcement to hike import duty on STBs from the existing 5 per cent, DTH Operators Association of India President Harit Nagpal said "the increase seems out of place". ...
08:12 PM, Feb 28, 2013
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan on Thursday said all the measures proposed in the Budget for 2013-14 taken together will help the country register a growth of 6.5 per cent in the next fiscal year. ...
08:03 PM, Feb 28, 2013
With the defence forces planning to finalise major deals such as the one for 126 Rafale combat aircraft, the government has earmarked more than Rs 33,000 crore for acquiring aircraft and aero-engines from the Rs 86,000 crore modernisation budget for the forces. Of this amount, Rs 25,000 crore has been given to the IAF which is close to finalising negotiations for deals such as the 126 Rafale combat aircraft, 22...
07:55 PM, Feb 28, 2013
Lauding the Union Budget as a "pragmatic balance" between fiscal prudence and public welfare, Congress today dismissed criticism from Opposition and some allies that it was "anti-farmer and anti-poor". "The interests of farmers are first and foremost in the mind of the Government and the interests of farmers will, in no way, be compromised. The budget is certainly not anti-farmer. Huge outlays have been made for farming sector," party spokesperson...
07:42 PM, Feb 28, 2013
The Budget presented by Finance Minister P Chidambaram evoked a mixed response amongst the leading industrialists and bankers of Kerala. At least 30 odd industrialists participated in the budget viewing session organised by the Confederation of Indian Industries (CII) here. ...
07:34 PM, Feb 28, 2013
Disappointed at not getting incentives like relief on excise duty front in Budget, bicycle manufacturers here today said they have no option but to raise prices by 4-5 per cent within next fortnight due to spiralling input cost. Bicycle manufacturers had delayed the price hike as they were expecting rollback of two per cent excise duty on bicycle in Union Budget, which was presented by Union Finance Minister P Chidambaram....
07:29 PM, Feb 28, 2013
The Delhi government was on Thursday allotted Rs 1,143 crore in the Union Budget for 2013-14, an increase of Rs 44 crore compared to last year's provision of Rs 1,099 crore. Out of total allocation, the city government has been given Rs 700 crore under JNNURM (Jawaharlal Nehru National Urban Renewal Mission) for infrastructure projects and housing for the urban poor while an outlay of Rs 309.92 crore has been...
07:20 PM, Feb 28, 2013
The government on Thursday unveiled a slew of measures to attract more investors to the stock market and making it easier for foreign entities to make investments. Presenting the Union Budget 2013-14, Finance Minister P Chidambaram proposed to strengthen capital market regulator SEBI and cut the securities transaction tax, which will bring down overall costs for investors. ...
07:12 PM, Feb 28, 2013
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, termed the decision as a "minor correction" for a "small sector right now". ...
07:12 PM, Feb 28, 2013
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. ...
07:09 PM, Feb 28, 2013
Hotels and restaurant owners on Thursday asked Finance Minister P Chidambaram to roll back the service tax proposed on all air-conditioned restaurants. "The Finance Minister should reconsider it. This will have a very bad impact on the hospitality industry," Federation of Hotel & Restaurant Associations of India (FHRAI) Secretary Vijai Pande said. He said the move will mean an additional burden on customers. ...
07:04 PM, Feb 28, 2013
India held its gold import duty unchanged in Thursday's budget, defying industry expectations that the world's biggest bullion buyer would increase rates to curb demand and rein in a record current account deficit. The government could still raise the duty if imports do not ease in response to a January hike to 6 per cent from 4 per cent. ...
06:44 PM, Feb 28, 2013
NATGRID - a pet project of Finance Minister P Chidambaram during his tenure as Home Minister - witnessed a quantum jump in the 2013-14 budget getting a six-fold increase with the allocation pegged at Rs 66.5 crore. ...
06:43 PM, Feb 28, 2013
Indicating that his hands were tied because the economy is "challenged", Finance Minister P Chidambaram on Thursday said more "measures and decisions" will be announced during the Budget passage in Parliament. Addressing a post-Budget press conference, he said Budget is not a one-stop or one-step measure and is a continuing process. ...
06:30 PM, Feb 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. ...
06:27 PM, Feb 28, 2013
How will Budget 2013 impact you? Senior journalist Vivian Fernandes shared his perspective in an interaction with IBNLive readers. ...
06:22 PM, Feb 28, 2013
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. ...
06:17 PM, Feb 28, 2013
Tax expert Subhash Lakhotia joined IBNLive readers for an interaction on the impact of Budget 2013 on taxes and investments. ...
06:10 PM, Feb 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. ...
06:10 PM, Feb 28, 2013
Healthcare and pharmaceutical industries on Thursday welcomed steps announced in the Budget to increase allotment on health and medical education. However, private players expressed concern that Finance Minister P Chidambaram could have provided support in the form of tax incentives as well. ...
06:08 PM, Feb 28, 2013
