However, it was business as usual on social media, with #Budget2013, #Chidambaram and #NirbhayaFund trending through the day and users taking potshots at the government. We've compiled a list of hilariously sarcastic tweets. Feel free to add in the comments section. ...
02:56 PM, Feb 28, 2013
Delhi Metro on Thursday got a budgetary allocation of Rs 7,701 crore for construction of its ambitious Phase-III project that envisages extending the modern transport system further in the national capital. Finance Minister P Chidambaram announced in his 2013-2014 Budget that the Central Government will infuse Rs 650 crore as its equity, while it will get a pass through assistance of Rs 1750 crore. ...
02:54 PM, Feb 28, 2013
BJP leader Arun Jaitley on Thursday slammed the Budget presented by Finance Minister P Chidambaram. ...
02:50 PM, Feb 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. ...
02:47 PM, Feb 28, 2013
Aiming to bring down the fiscal deficit, Finance Minister P Chidambaram on Thursday sought to reduce major subsidies on fuel, food and fertilisers by 11 per cent to over Rs 2.20 lakh crore in 2013-14 fiscal compared to the revised estimates for the current fiscal. According to the Budget proposals, the government's subsidy bill on food, petroleum and fertilisers is estimated at Rs 2,20,971.50 crore for the 2013-14 fiscal as...
02:42 PM, Feb 28, 2013
In a bid to boost scientific innovations that can improve the life of the common man, the government on Thursday announced setting up of a Rs 2,000-crore fund to help encourage and finance such products. Presenting the General Budget in Lok Sabha, Finance Minister P Chidambaram said that Ministry of Science and Technology, Ministry of Finance and Principal Scientific Advisor to the Government have identified a few amazing science and...
02:38 PM, Feb 28, 2013
The government on Thursday said it would set up a road regulatory authority in 2013-14 to address financial stress, construction risk and contract management in the road sector. "Challenges not envisaged earlier including financial stress, enhanced construction risk and contract management issues are best addressed by an independent authority...hence the government has decided to constitute a regulatory authority for the road sector," Finance Minister P Chidambaram said while announcing the...
02:27 PM, Feb 28, 2013
Sports utility vehicles, imported cars and motorcycles, mobile phones, eating out at air-conditioned restaurants and cigarettes will become costlier with Finance Minister P Chidambaram deciding to impose higher taxes on these items. On the other hand, there is good news for ladies as far as jewellery is concerned as they will be allowed to bring more duty free gold items provided they have stayed out of India for more than...
02:25 PM, Feb 28, 2013
The government on Thursday said that "if required" it will allocate more funds during the next financial year for the development of world class industrial cities proposed under the Delhi-Mumbai Industrial Corridor (DMIC) project. "In order to dispel any doubt about funding, I wish to make it clear that we shall provide, if required, additional funds during 2013-14 within the share of the Government of India in the overall outlay...
02:20 PM, Feb 28, 2013
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. ...
02:18 PM, Feb 28, 2013
We got a word cloud generator to crunch all the words from the Budget speech and came up with the words that the Finance Minister repeated the most in his speech. ...
02:15 PM, Feb 28, 2013
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 by converging the different Know Your Customer (KYC) norms," Chidambaram said while presenting the Union Budget for 2013-14. ...
02:15 PM, Feb 28, 2013
Finance Minister P Chidambaram has doubled the disinvestment target for next fiscal to Rs 55,814 crore, from Rs 24,000 crore estimated in the current fiscal. ...
02:11 PM, Feb 28, 2013
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. ...
02:06 PM, Feb 28, 2013
In the midst of a major modernisation drive, the Defence Ministry on Thursday got a 14 per cent hike in its budget as Finance Minister P Chidambaram gave it Rs 2,03,672 crore for 2013-14 with a promise to provide any additional fund required for national security. ...
02:05 PM, Feb 28, 2013
Nearly 11 lakh poor people have benefitted from the Direct Benefit Transfer Scheme, which began on January 1, 2013 and will be rolled out throughout the country, Finance Minister P Chidambaram said during his Budget speech in the Lok Sabha. ...
02:03 PM, Feb 28, 2013
Finance Minister P Chidambaram on Thursday raised tax deduction limit by Rs 1 lakh for the first time home buyers to promote the housing sector. "...a person taking a loan for his first home from a bank or a housing finance corporation up to Rs 25 lakh during the period April 1, 2013 to March 31, 2014 will be entitled to an additional deduction of interest of up to Rs...
01:55 PM, Feb 28, 2013
The fiscal deficit for the current financial year has been contained at 5.2 per cent of GDP, lower than 5.3 per cent as was targeted, Finance Minister P Chidambaram said today. "The fiscal deficit for 2012-13 has been contained at 5.2 per cent. I propose to bring it down to 4.8 per cent by 2013-14," Chidambaram said while unveiling Budget 2013-14 proposals in the Lok Sabha. ...
01:48 PM, Feb 28, 2013
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. ...
01:47 PM, Feb 28, 2013
Excise duty on sports utility vehicles has been increased to 30 per cent, while all luxury vehicles, including super bikes will attract 100 per cent import duty. "SUVs occupy greater road and parking space and ought to bear a higher tax. I propose to increase the excise duty on SUVs from 27 per cent to 30 per cent. However, the increase will not apply to SUVs registered as taxis," Finance...
01:44 PM, Feb 28, 2013
