UNION BUDGET 2007

  • FM may review export duty on iron ore March 16, 2007

    New Delhi: Finance Minister P Chidambaram on Friday hinted that he was open to reviewing the export duty of Rs 300 per tonne on the mineral. "While the steel industry had supported the export duty, iron ore exporters have pleaded for reconsideration of duty. We shall consider all the facts and...
  • Maruti hikes prices of all models March 15, 2007

    New Delhi: Car manufacturer Maruti Udyog Ltd on Thursday increased the price of all its models by up to Rs 1,017. Depending on the model, Swift will become costlier by Rs 656 to Rs 818. The base model of Swift will now cost Rs 4,68,657 compared to Rs 4,68,000 (exshowroom Delhi)...
  • Budget Impact: A political budget? March 4, 2007

    New Delhi: In the programme Budget Impact, opinions and views were brought forth on the Budget 2007 from Delhi and Mumbai. In Mumbai, a panel represented the face of the modern corporate India Aswini Kakkar, a name synonymous with the travel and tourism business, Kishore Biyani, a name synonymous...
  • Left slams Budget, may move cut motions February 28, 2007

    New Delhi: Dubbing the budget as high on rhetoric and low on steps to tame inflation and the agrarian crisis Left parties on Wednesday hinted at moving amendments to the Finance Bill if the UPA Government failed to take corrective measures. Coming down heavily on the budget, CPIM said that the...
  • What more do you want, asks PM February 28, 2007

    New Delhi: P Chidambaram's proposal in the Union Budget 200708 to keep the slabs for individual income tax unchanged may have disheartened the middleclass, but the Prime Minister doesn't think his Finance Minister has been unfair to them. "What more can we give, my friend?" was Prime Minister Manmohan Singh's riposte...
  • Budget 2007 'good' for real estate February 28, 2007

    New Delhi: As the implications of the proposals unveiled in Union Budget 2007 sunk in, there was euphoria in the real estate industry. Industry leaders across the spectrum felt that the Budget has been good for the real estate this year. In his Budget proposals, Finance Minister P Chidambaram retained the...
  • Maruti to hike prices from March 15 February 28, 2007

    New Delhi: Within hours of the unveiling of the Union Budget for the new fiscal year, Maruti announced its decision to hike car prices with effect from March 15. While the largest carmaker of the country didn't specify the exact reasons for such a move, it appears that the government's Budget...
  • In Pics: Tune into budget buzz 2007 February 28, 2007

    As Finance Minister P Chidambaram presented the Union Budget 2007, India waited with bated breath. ...
  • Big cut in tour budget of ministers February 28, 2007

    New Delhi: You may have seen Union Cabinet ministers and UPA MPs thumping their desks in approval of Finance Minister P Chidambaram's union Budget for 200708. But at heart, none of the Union ministers would be happy as the PC has heavily slashed his allocation for their tour expenses during...
  • 'Everyone's Budget' frustrates many February 28, 2007

    New Delhi: Chidambaram has fought quite a few fires with his budget inflation, tax woes, and spurring agricultural growth. But in attempting to please all, the Finance Minister came under fire from many quarters. "If ploughmen keep their hands folded, even sages claiming renounciation cannot find salvation," said Chidambaram. He...
  • It's a rubbish Budget, says BJP February 28, 2007

    New Delhi: Its a budget that lacks zing, lacks concrete steps, fails to address the problem of inflation and does not takes into account any measures either for the industry or the agriculture, is what the opposition had to say as a reaction to Chiadambarams budget for fiscal year 200708....
  • Homemakers give PC thumbs down February 28, 2007

    New Delhi: For the Seth family, watching the Union Budget 2007 was a blowhot, blowcold experience. Family head Deepak Seth, a restaurant owner, had reason to cheer considering the import duty cut on edible oils and no excise duty in readytoeat foods. Expenses on mixes are down. Catering business use this...
  • Isro's space dreams get Budget boost February 28, 2007

    New Delhi: Even when the Union Finance Minister busied himself in addressing the grassroots problems in the Union Budget for 200708 on Wednesday, he also took time off to reach out for the sky. In his general Budget, the Finance Minister has cornered an allocation of Rs 50 crore for India's...
  • Budget creates room for Commonwealth Games February 28, 2007

    New Delhi: Keeping in view a requirement of 20,000 hotel rooms for the 2010 Commonwealth Games, Government on Tuesday proposed a fiveyear holiday from income tax for new two, three or fourstar hotels in Delhi and adjacent districts between April this year and March 2010. This exemption will also apply to...
  • Govt expenses to shoot by Rs 100,000 cr February 28, 2007

    New Delhi: Finance Minister P Chidambaram presenting the Budget 200708 announced stepping up of its expenses by nearly Rs 100,000 crore, thus budgeting for a total expenditure of Rs 680,521 crore to meet social sector commitments as also enhanced defence needs. While nonplan expenditure alone is slated to go up...
  • Costlier set top boxes, cheaper shoes February 28, 2007

    New Delhi: Pet food, biscuit, mouth freshener, footwear, water purifiers and filters and lowvalue cement would become cheaper and cigarettes, bidis, and set top boxes costlier as a result of the new Union Budget. Cell phones would continue to remain cheap, as the Budget has extended the customs duty exemption period...
  • Budget boost for Commonwealth Games February 28, 2007

    New Delhi: The Commonwealth Games to be staged in the Capital in 2010 will get a Rs 500crore boost, Finance Minster P Chidambaram announced while presenting the Union Budget on Wednesday. The Centre will give Rs 350 crore and Rs 150 crore to the Delhi government and the Sports and Youth...
  • Budget speech 200708: Full text February 28, 2007

    Mr Speaker, Sir, it is my privilege to present the Budget for 200708. A MIDTERM REPORT CARD ON THE ECONOMY In November 2006, the UPA Government crossed the midpoint of its term of office. A midterm report card can now be presented. There are many pluses and a few minuses, and I...
  • Mixed political reactions on Budget February 28, 2007

    New Delhi: While the Congress was understandably supportive of Finance Minister P Chidambaram's budget, the Left parties and the Opposition weren't particularly pleased. Congress MP Jyotirditya Scindia, said, "It is a very positive growth oriented Budget that can assist in empowering India into a new economic future." The Finance Minister's son, Kartik...
  • Excise duty on cigarettes, bidis up February 28, 2007

    New Delhi: Finance Minister P Chidambaram seems to be a strong supporter of the "say no to tobacco campaign. Chidambaram while presenting the Union Budget 200708 in Parliament on Wednesday increased excise duty on cigarettes and bidis and gave no relief to pan masala containing tobacco. "I strongly support the campaign...
  • Education, healthcare prime focus: PM February 28, 2007

    New Delhi: Soon after Finance Minister P Chidambaram tabled Budget 2007 in Parliament, Prime Minister Manmohan Singh termed it as "antiinflationary". He added that the prime focus of the Budget was on education and healthcare. While stating that the Centre was committed on increasing the spending on the social infrastructure, the...
  • Defence budget hiked to Rs 96,000 cr February 28, 2007

    New Delhi: Finance Minister P Chidambaram on Tuesday proposed a hike in the defence budget for 200708 to Rs 96,000 crore, an increase of 7.8 per cent over the current fiscal's outlay. The increase was Rs 10,000 crore more in actual terms, as the defence ministry spent Rs 86,000 crore as...
  • Work out on tax structure: FM to DoT February 28, 2007

    New Delhi: Finance Minister P Chidambaram while presenting the Union Budget 200708 to Parliament on Wednesday asked the Department of Telecom to commission a study for working out a unified tax structure for the sector. Total levies in the telecom sector, including the annual revenue share, that the companies pay to...
  • India Inc disappointed with Budget February 28, 2007

    New Delhi: Indian industry on Wednesday expressed disappointment over Finance Minister P Chidambaram's Budget for 200708, raising concerns on lack of measures to increase productivity and for losing an opportunity to provide relief to the corporate sector. "This Budget is disappointing as there has been no steps announced to increase productivity...
  • Chidambaram's take on Budget 2007 February 28, 2007

    New Delhi: Soon after he rolled out Union Budget for 20078 in Parliament, Finance Minister P Chidambaram spoke on its various provisions. He said that in view of the cooperation shown by tax payers to the revenue department, he's increased the exemption limit for all assesses. "In the current year, there...
  • PostBudget, no cut in fuel price February 28, 2007

    New Delhi: The new budget has proposed an excise duty cut on auto fuels, but this is not going to translate into good news for the common man, for this excise cut will not mean that petrol and diesel prices will go down. The Finance Minister has reduced the excise duty...
  • Impact: Goodies for senior citizens February 28, 2007

    New Delhi: Finance Minister P Chidambaram reacted to CNNIBN 's Axe the Tax campaign on Wednesday while presenting Union Budget 200708 in Parliament and increased the threshold limit for income tax to Rs 1.95 lakh by Rs 10,000. Chidambaram accepted the petition from hundreds of people to reexamine five personal tax...
  • On Budget day, Sensex closes lowest since Dec '06 February 28, 2007

    Mumbai: It was disastrous day for the markets on the Budget day wherein it opened on extremely bearish note on the back of negative cues from global markets. Markets were already on its downtrend for last two weak on account of hike in interest rates and untolerable inflationary pressure....
  • Brokers' reaction mixed preBudget February 28, 2007

    Mumbai: In what some consider a slightly alarming trend, the markets have not had a positive outlook, ending in red just a day before the budget. All the BSE sector indices closed in red and the downward swing has been attributed to selling pressure in stocks across sectors. Heavy selling was...
  • Budget '07 rolls out, income tax rates unchanged February 28, 2007

    New Delhi: Under pressure to control inflation, Finance Minister P Chidambaram on Wednesday presented a Union Budget that does not change Income Tax rates, promises help to farmers and hikes funds for health and education. In his 100minute speech in the Lok Sabha, Chidambaram sought to cut import tariff on crude...