New Delhi: Ahead of the Union Budget, Defence Minister AK Antony on Monday said his ministry has spent over 70 per cent of the modernisation funds allocated to it for the current fiscal. The Defence Ministry has been sanctioned Rs 69,199 crore for capital expenditure outlay for finalising acquisition of major items such as 10 C-17 heavy-lift aircraft and 145 ultra-light Howitzers. "Already by December 31, we had spent 66...
07:06 PM, Feb 13, 2012
Mumbai, Last week was indeed flat and positive with NIFTY gaining back almost all that it had lost during the first few days. Immense fund flow clubbed with retail participation helped NIFTY to move above 5400, hinting that the markets are entering another bull phase. NIFTY is on a consolidation mode and it is having a base at 5325 and 5250. The resistance for the NIFTY will be at 5450...
02:27 PM, Feb 13, 2012
New Delhi: Stock exchanges on Tuesday pitched for abolition of the Securities Transaction Tax (STT) on equity trades at their meeting with Finance Ministry officials in New Delhi. The issue of removal of STT was raised by representatives of different stock exchanges, including BSE, National Stock Exchange, MCX-SX and USE. Besides, the officials of the market regulator Securities and Exchange Board of India (SEBI) were also present in the meeting....
09:18 PM, Feb 07, 2012
Catch the day's top stories on India at with Rajdeep Sardesai. ...
11:54 PM, Feb 06, 2012
New Delhi: The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets. The possibility of lowering the tax rates, however, is remote in view of the fiscal constraints being faced by the government, sources said, adding that the...
05:10 PM, Feb 06, 2012
New Delhi: With the budget session round the corner, Union Finance minister Pranab Mukherjee has said that India may have to settle for a GDP growth of 7 per cent in the coming year. In an exclusive interview to Network 18, Mukherjee said, "In the first two quarters, our GDP growth is 7.3. I don't think in the remaining two quarters there will be substantial improvement. Perhaps we may have...
10:56 AM, Feb 06, 2012
With the budget session round the corner, Finance minister Pranab Mukherjee has said that India may have to settle for a GDP growth of 7 per cent in the coming year. ...
09:52 AM, Feb 06, 2012
New Delhi: The Finance Ministry will be infusing Rs 18,000 crore in the current fiscal in 12 banks, including SBI, and will be seeking supplementary grants from Parliament in the Budget session. "There are 12 banks in which we will infuse money in 2011-12. The amount will be Rs 18,000 crore. This includes Rs 7,900 crore for State Bank of India (SBI)," sources said. Besides SBI, other lenders that would...
04:58 AM, Feb 03, 2012
Davos: Urging India to move ahead with economic reforms to benefit from the changing global dynamics, top banker Uday Kotak has said it is time for the country to go for a tighter fiscal policy and ease its monetary policy stance. "In the world, what we are seeing is an easing monetary policy and a move toward tighter fiscal policy," Kotak said. "But in India, we had a tighter monetary...
03:06 PM, Feb 01, 2012
Mumbai: After cutting the cash reserve ratio by 50 basis points, the governor of the Reserve Bank of India said that it was now the government's turn to take a step towards fiscal consolidations. Speaking exclusively to CNBC-TV18 for the first time since the RBI policy announcement on January 24, Deputy Chairman of Planning Commission Montek Singh Ahluwalia said that the government will signal fiscal consolidation in the Budget, but...
02:58 PM, Feb 01, 2012
New Delhi: The Union Budget may be presented around the middle of March in view of the ongoing Assembly elections, Finance Minister Pranab Mukherjee indicated on Wednesday. In an informal chat with journalists, he said a meeting of the Cabinet Committee on Parliamentary Affairs will be convened in the first week of February to decide on the date of the Budget Session of Parliament. He said the customary President's address...
02:00 PM, Jan 25, 2012
New Delhi: Concerned over the state of skill development, Prime Minister Manmohan Singh on Thursday asked the ministries to prepare plans for the next year with special focus on skilling needs of minorities, SC, ST and backwards. Chairing a meeting of the National Council on Skill Development, he asked his Cabinet colleagues to focus on sectors like infrastructure, real estate, auto and auto components, textile, healthcare, retail and logistics. Singh...
09:56 PM, Jan 19, 2012
Kolkata: Union Finance Minister Pranab Mukherjee on Saturday said the country required to take lessons from Euro-zone crisis and a prudent fiscal management was the need of the hour. "We need to learn lessons from the Euro-zone crisis where sovereign fiscal deficits of some have surpassed 100 per cent of GDP and for this a prudent fiscal deficit management should be drawn," Mukherjee said after inaugurating the new administrative building...
07:45 PM, Jan 14, 2012
New Delhi: As most of us are busy in the guessing game, Economic Affairs Secretary R Gopalan indicated that Budget is likely to be between March 12 and March 16. In an interview to CNBC-TV18, Gopalan stressed that no final date has been decided but it is safe to assume the Budget to be tabled between March 12 and March 16. There are already alarm bells ringing on the overburdening...
07:51 PM, Jan 06, 2012
The Union Budget could be delayed beyond March 9 due to assembly elections, indicated Pranab Mukherjee. ...
02:50 PM, Jan 04, 2012
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