HindustanTimes Tue,28 Jul 2015

top news »

Controversial GAAR crackdown put off to '16

Its official. Aiming to provide some relief to foreign investors while improving investor sentiment on inflows into India, finance minister P Chidambaram on Thursday said the modified version of the General Anti Avoidance Rules (GAAR) — originally announced in the budget last year — would come into effect only from April 2016.

Govt clearly defines FDI, FII investments

Seeking to remove ambiguity on the distinction between foreign direct investment and foreign institutional investment, the government has proposed to follow international practices for differentiating them.

Govt eyes Rs. 55,814 cr from sale of stakes

The government has set a target of Rs. 55,814 crore that it expects to earn by selling equity in state-owned companies in 2013-14 as the stage appears set to press the accelerator on the disinvestment programme.

Limit for duty-free import of jewellery raised

With gold prices on the rise, the government on Thursday proposed to raise the limit on duty-free import of jewellery via passenger baggage to Rs. 50,000 for men and Rs. 1 lakh for women.

Goods and services tax, DTC enter the final lap

Two of India's biggest tax reform initiatives — the Direct Taxes Code (DTC) and the Goods and Services Tax (GST) — has entered the final leg, finance minister P Chidambaram said on Thursday.

Plan to tackle fiscal deficit

Finance minister P Chidambaram on Thursday unveiled plans to reduce India's fiscal deficit to 3% of GDP in five years demonstrating the government's intent to walk the talk on fiscal discipline.

Economic growth declines to 4.5% in Q3

India's gross domestic product (GDP) grew by 4.5% by the during the October to December quarter in 2012 as the economy appeared on track to record its worst growth in a decade — factories are producing less, exports are shrinking and companies offering fewer jobs.

Urban renewal gets a leg up from FM

The urban poor and middle-class got a little more attention and funding from finance minister P Chidambaram in the 2013-14 Union Budget.

NREGA losing sheen?Allocation unchanged

A scheme flush with funds but a sagging demand seems to have found its rightful allocation in the budget. The UPA’s flagship aam admi scheme MGNREGA is provided Rs. 33, 000 crore for 2013-14 — same as it was in the last year’s budget.

Big banking push for direct cash transfers

Finance minister P Chidambaram’s pledged to stick to the 2014 deadline for a nationwide rollout of direct benefits transfer, pushing the banking sector to move beyond tokenism and cover more than seven crore households over the next 12 months.

In election year, extra funds for Bihar, Bengal, heartland states

Conceding to repeated demands from heartland states for additional financial assistance, finance minister P Chidambaram on Thursday declared his intention of reframing the definition of backward regions, in a way that is likely to help politically critical states like Bihar and areas such as Bundelkhand.


Budget gives Mumbai a miss

The Union Budget for 2013-14 put a dampener on Mumbai's multi-billion dollar makeover plan and the state Congress-led government's hope of getting some sops before the 2014 polls.

Second part of FDI row may play out in budget session

The imbroglio over allowing FDI in multi-brand retail seems set to spill over to the budget session of Parliament, Vikas Pathak reports.

More reforms, no tax shocks in budget: FM

The biggest threat to reforms in India is an unstable government at the Centre after 2014, finance minister P Chidambaram told investors in Singapore today as he defined the economic agenda in the coming months. HT reports.
Chidambaram eyes growth boost

Rs. 75,000 cr for 1,500 backward sub-districts

Budget 2013: Govt surveys have shown underdeveloped pockets in developed cities which need attention. Chetan Chauhan reports.
1 | 2 | 3 | 4


Highlights: Budget 2013  »

  • Expect higher revenue next year: Chidambaram
  • Unclear what the expense on food subsidies be at this stage: Chidambaram
  • Fuel subsidy likely to be lower this year: Chidambaram
  • Immediate goal is to achieve growth rate of 6%: Chidambaram
  • We have to be patient and wait for the economy to pick up: Chidambaram
  • We have not put impossible burdens on people: Chidambaram
  • The only way to contain current account deficit is to increase exports: Chidambaram
  • Confident that RBI will do it's part: Chidambaram
  • Economy is challenged in a number of ways: Chidambaram
  • This is a lollypop election budget: CPI leader Gurudas Dasgupta
  • Budget has ignored SC/ST: Mayawati
  • Budget will only benefit industrialists, not common man: Mayawati
  • Budget will give impetus to Bihar's demand for special status: Nitish Kumar
  • FM has taken important steps to reverse pessimistic mood with regard to our economy: PM
  • There is need to convert challenges into opportunities: PM
  • The Finance Minister has done a commendable job: PM
  • Direct Benefit Transfer scheme to be rolled out
  • Ships and vessels exempted from excise duty
  • Direct tax code to be introduced in budget session of the Parliament
  • Set-top box import duty hiked
  • Gold duty limit raised to Rs. 50,000 for men; Rs. 1 lakh for women
  • 100% customs duty on luxury cars
  • Increase in import duty on high end bikes from 75% to 100%
  • 6% duty on mobile phones worth more than Rs. 2000
  • Excise duty on cigarette, cigar and cheeroot increased by 18%
  • Import duty on raw silk hiked to 15%
  • Luxury imported items to cost more
  • Donations to National Children's fund will be eligible for 100% tax deduction
  • No plans to revise direct taxes
  • No change in customs and excise duty
  • Tax credit of Rs. 2000 for those with income upto Rs. 5 lakh
  • Education cess at 3%
  • donations to be tax free
  • Surcharge of 10% on individuals, companies whose income is above Rs. 1 crore per year
  • No revision in tax slabs
  • Planned expenditure to be 33% of total expenditure
  • Rs. 1,000 crore allocated to women safety fund
  • Defence budget allocation increased to Rs. 2 lakh crore
  • Insurance and pension funds can now directly invest in debt funds
  • Domestic workers, Anganwadi workers, others to get group insurance
  • 13 public sector banks to get Rs. 14,000 crore
  • Propose to provide Rs. 14,000 cr for capital infusion in public sector banks
  • Inflation indexed bonds and NSCs to be introduced
  • JNNURM is being continued in the 12th Plan; Rs. 14,873 cr to be provided to the Mission
  • Rs. 33,000 crore to be allocated to MNREGA
  • Rs. 6000 crore for rural housing fund, Rs. 2000 cr for urban housing fund
  • Two new ports to be built in West Bengal and Andhra Pradesh
  • All towns having population of 10,000 to get LIC office
  • Rashtriya Swasthya Bima Yojna to be extended to rickshaw pullers and rag pickers
  • List of eligible securities will be enlarged: Chidambaram
  • SEBI to simplify procedures for entry of foreign portfolio investors in India: Chidambaram
  • India's first all-women public sector bank to be set up
  • All public sector bank branches to have ATMs
  • Focus on modernisation of powerloom sector
  • Propose to continue with the technology upgradation, funds scheme for textile sector: Chidambaram
  • Rs. 1650 cr allocated for AIIMS like institutes
  • Natural gas pricing policy will be reviewed: Chidambaram
  • Person taking home loan for the first time to get tax cut of Rs. 1 lakh
  • Regulatory authority to be set up for road sector
  • Rs. 17,700 crore to be allocated for Integrated Child Development Scheme
  • Rs. 5000 cr allocated to NABARD
  • Income level of Rajiv Gandhi equity schemes increased by Rs. 2 lakh
  • Rs. 80, 194 crore allocated for rural development: Chidambaram
  • Rs. 25,000 cr to be raised through tax free bonds: Chidambaram
  • Rs. 10,000 crore for food security bill promised by UPA: Chidambaram
  • Infrastructure debt fund to be encouraged: Chidambaram
  • Rs. 37,330 cr allocated to ministry of health and family welfare: Chidambaram
  • Rs. 41,000 allocated for scheduled caste welfare: Chidambaram
  • Rs. 27,49 cr to be allocated to the agriculture ministry: Chidambaram
  • Plan expenditure in 12th Five Year Plan revised to Rs. 14,30,825 cr or 96% of budgeted expenditure
  • Scholarships for students from SC/ST, minority communities: Chidambaram
  • Rs. 110 cr to be allocated to department of disability: Chidambaram
  • Increased allocation for safe drinking water and sanitation: Chidambaram
  • Increased allocation for mid-day meal schemes: Chidambaram
  • Rs. 65,000 cr allocation for education schemes: Chidambaram
  • Rs. 110 cr to be allocated to department of disability: Chidambaram
  • Need $ 75 billion to bridge current account deficit: Chidambaram
  • 2013-14 budget has sub-plans for SC, ST, youth and women: Chidambaram
  • Foreign investment imperative for growth: Chidambaram
  • Our economy has slowed down after 2010: Chidambaram
  • No choice but to cut spendings to control inflation: Chidambaram
  • China and Indonesia are growing faster than India: Chidambaram
  • Getting back to 8% growth is a challenge for country: Chidambaram
  • Our goal is higher growth: Chidambaram
  • Between 2004-2008 and again in 2009-10, 2010-11 the growth rate was over 8%: Chidambaram
  • P Chidambaram begins budget address in Lok Sabha
  • Cabinet endorses Union Budget 2013-14, to be presented in Parliament shortly.
  • Finance minister P Chidambaram reaches North Block.
  • Chidambaram set to present India's 82nd national budget.
  • Today's Union Budget will be Chidambaram's eighth personal exercise.
  • It's two short of the record of 10 set by former PM Morarji Desai.
  • Since Independence, the country has seen a total of 25 ministers hold the finance portfolio.
  • India has also seen budgets - 65 normal annual budgets, 12 interim budgets and four mini-budgets.
  • Morarji Desai presented eight normal and two interim budgets.
  • Thursday will see Chidambaram equal the eight-budget track record of Pranab Mukherjee.
  • Chidambaram will surpass Yashwant Sinha, YB Chavan and CD Deshmukh who all presented seven budgets each.
  • PM Manmohan Singh and TT Krishnamachari have presented six budgets each.
  • Jawaharlal Nehru, Indira Gandhi, Rajiv Gandhi have presented one budget each.
  • Sensex closed up more than half a percent a day before the union budget 2013-14
  • It will be the eighth such personal exercise for him
  • Chidambaram set to present India's 82nd national budget in Lok Sabha


tax calculator  »