UNION BUDGET

  • Indian road laws to be in line with standards set in US, UK, says Transport Minister Nitin Gadkari November 28, 2014

    New Delhi: The Union Road and Transport Ministry is all set to bring major changes in the country's transport system. Union Minister Nitin Gadkari said that he is aiming at utilising bio-fuels for the running of vehicles, adding that the Centre will formulate new road laws which are in line...
  • 2015-16 Budget to unveil second generation reforms, says Arun Jaitley November 23, 2014

    New Delhi: A "whole set of second generation reforms" will be unveiled in the next Union Budget, Finance Minister Arun Jaitely said on Sunday, promising "a lot of exciting time ahead". The country needs "a larger opening out in more sectors," it requires stability of policy and tax regime besides a...
  • Lok Sabha approves Budget 2014 July 18, 2014

    New Delhi: The Lok Sabha on Friday approved the budget for 201415. Prime Minister Narendra Modi's government last week presented its maiden Budget that sought to revive a flagging economy and mend public finances. During the debate on General Budget in the House on Friday, Finance Minister Arun Jaitley spelt out his...
  • Budget modestly credit positive for India: Moody's July 14, 2014

    New Delhi: Rating agency Moody's on Monday said the budget 201415 has outlined steps to support faster economic growth, but absence of detailed implementation plan makes it modestly credit positive for India. "Unless the budget is followed by a more specific implementation plan, as well as additional measures to address macroeconomic...
  • TWTW: 'Experts' discuss Arun Jaitley's maiden Union Budget July 13, 2014

    Finance Minister Arun Jaitley presented his maiden budget for the Narendra Modi government on July 10. Brushing aside criticism of not having done enough reforms in the Budget, Jaitley said this was the beginning of the journey and he did all he could do under the given circumstances. ...
  • TWTW: The Union Budget in the eyes of the common man July 13, 2014

    Finance Minister Arun Jaitley presented his maiden budget for the Narendra Modi government on July 10. He gave a cautious testament of fiscal prudence combined with steps for encouraging increased investments, for boosting industrial infrastructure through roads, airports, ports and smart cities, and for providing cost breaks to specific industries....
  • US investors welcome Modi government's maiden Budget July 11, 2014

    Washington: The maiden Budget of the Modi government has been hailed by American experts and corporate sector here as a step in the right direction to generate employment and foster growth. They said Union Finance Minister Arun Jaitley has opened the door to a much wider level of US involvement in...
  • Manjhi calls budget 'routine', says nothing special for backward states July 11, 2014

    Bihar Chief Minister Jitan Ram Manjhi and senior JDU leader Nitish Kumar on Thursday said the NDA government's first budget disappointed Bihar as it neglected the needs of the state. They said the budget was routine and there was nothing new or special for a backward state like Bihar. "The budget has...
  • Jaitley's Budget high on rhetoric but low on delivery, says Congress July 11, 2014

    New Delhi: While the Narendra Modi government's maiden Budget is receiving mixed reactions from industry experts, opposition parties are hell bent on criticising it on various parameters. The Congress has accused the new government at the Centre of having no specific roadmap for the country's growth. "This budget has been extremely...
  • Government, RBI to devise modern monetary policy framework July 10, 2014

    New Delhi/Chennai: With prices staying at stubbornly high level, the government and the RBI on Thursday agreed to devise a modern monetary policy framework with clear inflation targeting. The tone for inflation targeting was set by Finance Minister Arun Jaitley in his budget speech when he stressed on a modern monetary...
  • At Rs 6,000crore, Modi government grants 50 pc jump in ISRO budget July 10, 2014

    New Delhi: In a major boost for India's space programme, the Narendra Modi government has earmarked Rs 6,000 crore for ISRO in its maiden budget, which is a whopping 50 per cent jump in the agency's funding over last year. In 201314, although the Department of Space was initially given Rs...
  • Standard & Poor on Budget: Steps in right direction but short on details July 10, 2014

    Mumbai: Global rating agency Standard & Poor's Ratings Services lauded fiscal consolidation steps announced in Budget that will benefit the credit fundamentals, but pointed out that it will have no immediate impact on the sovereign credit rating, as the Budget is short on details. "The Budget has no immediate impact on...
  • Ministry of Minority Affairs gets higher outlay in budget July 10, 2014

    New Delhi: The budget of BJPled NDA government on Thursday announced a higher outlay of Rs 3,734.01 crore for the Ministry of Minority Affairs and announced schemes for skill upgradation of minorities and Rs 100crore for modernisation of madrasas. The outlay of the Ministry of Minority Affairs in the union budget...
  • Industry hails infrastructure reforms announcements in budget July 10, 2014

    New Delhi: Narendra Modi's maiden budget has paved way for infrastructure reforms and has created a sense of confidence among investors, who are awaiting removal of structural bottlenecks in projects, industry analysts and India Inc on Thursday said hailing announcements. "The government has laid special focus on development of critical infrastructure...
  • Government to continue Aadhaar, provides Rs 2,000 Cr for it in 201415 July 10, 2014

    New Delhi: Giving indications that the new government is likely to continue Aadhaar enrollments, a sum of Rs 2,039 crore has been provided in the budget for the Unique Identification Project in the current fiscal. "A sum of Rs 2,039.64 crore has been provided for 201415 to execute the task of...
  • Uttarakhand BJP calls budget developmentoriented; Cong criticises July 10, 2014

    Describing the Narendra Modi government's first budget as historic and development oriented, Uttarakhand BJP on Thursday called it useful for the state. "Through this budget, an effort has been made to turn promises made by Modi in his nearly 5,000 preelection meetings to different sections of society into a reality," state...
  • It is a holistic budget, says Delhi BJP president Satish Upadhyay July 10, 2014

    New Delhi: Delhi BJP on Thursday termed as holistic the general budget presented by Finance Minister Arun Jaitely and said it was a foundation of good days ahead. "This Budget has taken care of the needs of both the urban and the rural areas. The middle class and the poor will...
  • UPA imprint all over, CongressMukt Budget not possible: ExFM July 10, 2014

    New Delhi: Former Minister P Chidambaram on Thursday said imprint of the UPA Government's policy can be seen in the Budget presented by Arun Jaitley, adding it is not possible to come out with a "Congress Mukt Budget". "Welcome to the real world...BJP sought a mandate for Congress Mukt Bharat. My...
  • Union budget hikes allocation for Delhi Police July 10, 2014

    New Delhi: Delhi Police will get Rs 4653.19 crore for the next fiscal under the union budget, an increase of nearly Rs 400 crore from the last budget, aimed at sprucing up training of its personnel and traffic infrastructure. The highlights include an increase of Rs seven crore for the installation...
  • Shares of PSU banks fall on Budget announcements July 10, 2014

    Mumbai: Shares of public sector banks declined as much as two per cent after Finance Minister Arun Jaitley on Thursday said the lenders would require Rs 2.40 lakh crore capital by 2018 to meet global Basel III norms. SBI ended 1.31 per cent lower, Allahabad Bank dropped 1.81 per cent and...
  • Growth, investment dominate Jaitley's Budget speech July 10, 2014

    New Delhi: When it comes to usage of words in budget speech, terms like growth, investment, youth, infrastructure, jobs and skills topped the charts when Finance Minister Arun Jaitley presented his maiden Union Budget on Thursday. During his over twohourlong speech, Jaitley referred to the term 'growth' for at least 31...
  • Arun Jaitley raises exemption limit, introduces Kisan Vikas Patra to boost savings July 10, 2014

    New Delhi: Encouraging household savings, the government today raised tax exemption limit on investments in financial instruments to Rs 1.5 lakh, reintroduced Kisan Vikas Patra and hiked the PPF investment ceiling. In his maiden Budget 201415, Finance Minister Arun Jaitley also proposed higher exemption limit for repayment of interest on loans...
  • Government allocates Rs 100 crore for war memorial in Delhi July 10, 2014

    New Delhi: The government on Thursday allocated Rs 100 crore for construction of a war memorial and a war museum at Princess Park near India Gate. Presenting his first budget, Finance Minister Arun Jaitley said the country is deeply indebted to officers and jawans of the armed forces for having made...
  • Arun Jaitley seeks to bridge gap with North East India July 10, 2014

    New Delhi: With an allocation of Rs 53,706 crore in the ongoing fiscal for the North East, Finance Minister Arun Jaitley on Thursday sought to end the 'sense of isolation' of the region proposing a slew of proposals, including enhanced road and rail connectivity and fostering of organic farming. Underlining the...
  • Government to raise longterm capital gains tax on debt Mutual fund to 20 pc July 10, 2014

    New Delhi: In a move that may come as a blow to the mutual fund industry, the government on Thursday proposed to raise longterm capital gains tax on debtoriented mutual funds to 20 per cent from 10 per cent, to bring parity with banks and other debt instruments. However in the...
  • India Inc welcomes Modi's Budget, says it sets tone for higher growth trajectory July 10, 2014

    New Delhi: India Inc on Thursday welcomed the Narendra Modi government's maiden budget, saying it sets the tone for attaining higher growth trajectory, job creation and attracting muchneeded investments for an economy grappling with multiple challenges. "I think the approach of creating a stable business environment to attract investment and boost...
  • Over Rs 205 crore earmarked for training of babus July 10, 2014

    New Delhi: The Government on Thursday allocated over Rs 205 crore for the Ministry of Personnel for 201415 to augment its training facilities for bureaucrats. In the budget presented by Finance Minister Arun Jaitley, Rs 205.66 crore has been earmarked for the Ministry to meet establishmentrelated expenditure of Institute of Secretariat...
  • For every rupee in government kitty, 24 paise to come from borrowing July 10, 2014

    New Delhi: For every rupee in government kitty, as much as onefourth will come from market borrowing in 201415 while 20 paise would be spent towards interest payment. The government's dependence on debt has come down from 27 paise in the previous Budget to 24 paise in the coming year, reflecting...
  • Union Budget 2014: What's cheaper and what's costlier July 10, 2014

    Finance Minister Arun Jaitley on Thursday spared the common man from price hike by keeping duties on commonly used daytoday items unchanged but made it costlier for smokers and tobacco consumers with a steep increase in excise rate in tax proposals in Budget 201415. Following is a list of what...