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Budget to be inflationary, says industry

As Finance minister Pranab Mukherjee resorted to mopping up more taxes, a disappointed India Inc today said his Budget is a "missed opportunity" and would have cascading impact on inflation and consumer demand.

Delhi cops seek bigger fund to pay informers

Crucial leads from an informer helped the Delhi Police crack the murder of IT executive Jigeesha Ghosh three years ago, and in turn of journalist Soumya Vishwanathan, as the same persons were involved.

FM may raise allocation for health and education

Finance minister Pranab Mukherjee is on Friday expected to present a social sector reform budget with higher allocations for health, education and skill development, besides a total sanitation programme.

Airline stocks lose momentum

Shares of three listed airlines, Kingfisher Airlines, Jet Airways and SpiceJet, reversed their early morning gains, after a final decision remained elusive in the Union Budget for allowing foreign carriers invest in domestic players.

Securities tax may face the axe

Finance minister Pranab Mukherjee is likely to slash the securities transaction tax (STT), in a move that is likely to boost investor sentiments. The government is, however, unlikely to impose the commodity transaction tax (CTT) on commodity futures and options. HT reports.

Small enterprises to get a boost

The government is actively considering offering a slew of tax breaks to encourage investment in small enterprises, particularly lower tax rates for venture funds and private equity firms, to woo them to infuse capital in such enterprises.

Budget 2012-13: Rs. 5,000cr rescue plan for Air India

Air India, the ailing public sector airline, may get Rs. 5,000 crore in the next budget to get out of the red while banks will be given Rs. 10,000 crore for recapitalisation as non-performing assets — mainly because of the manufacturing slowdown — have hit them hard.

Diesel carmakers fume over tax policy haze

Forced to hit the snooze button due to a shifting policy environment, the car industry is getting restive over a lack of clarity on fiscal issues. Sumant Banerji reports.

Tax all but 35 services, states ask Centre

States have no objection to the Centre widening its service tax net in the forthcoming Budget, as long as 35 services like ambulance, beauty parlours, marriage halls, interest on bank deposits, leasing of vehicles and machines are kept out of the ambit of the levy.

Auto sales zoom in Feb, ahead of likely price rise after Budget

The domestic car sales grew in February logging the best ever sales in a month as the consumer sentiment registered a turnaround from the scepticism that ruled for much of this fiscal. HT reports. Beating a hike?

Shipping industry seeks creation of modernisation fund

Concerned over the diminishing share of shipping in India's overseas cargo carriage, which fell to 8.3% in 2009-10 from 40.7% in 1987-88, the Indian shipping industry has demanded the creation of a shipping modernisation fund on the lines of the textile industry's technology upgradation fund. Debobrat Ghose reports. Sinking feeling

Let NRIs invest via overseas bodies: SP Hinduja

Pitching for simplification of investment procedures for non-resident Indians (NRIs), the UK-based Hinduja Group's chairman, SP Hinduja, has said that Indians settled abroad should also be allowed to invest in the country through overseas corporate entities.

Corporate America seeks bold Budget

American companies has urged finance minister Pranab Mukherjee to issue a bold Union Budget that would unleash the next generation of economic reforms and help India realise its full growth potential.

Bite the bullet on fuel prices, fix diesel subsidy

Setting the tone for the Budget, the Economic Survey 2011-12 tabled in Parliament on Thursday has strongly advocated raising fuel prices with rise in input costs, mainly due to a rise in global oil prices. HT reports. Bitter pill

End land rows to aid manufacturing sector growth

The Survey has called for specific measures including resolution of  land availability issues and focus on high value-added industries to enhance the contribution of the manufacturing sector in India's GDP.

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What do you expect from Budget 2012?

The Budget 2012-13 will be presented on March 16 by the Union finance minister Pranab Mukherjee. Share with us your views and expectations from the finance minister on this year's budget.