Reassuring investors, Finance minister P Chidambaram on Monday reiterated that India would not unilaterally amend the India-Mauritius Double Taxation Avoidance Agreement with Mauritius. HT reports.
Finance minister P Chidambaram on Thursday increased the tax deduction on interest for first-time home buyers taking loans up to Rs. 25 lakh by Rs. 1 lakh. HT reports.
In a bid to check demand for gold and route savings instead to productive assets, the government will launch inflation-indexed bonds, instruments designed to protect investor savings from inflation.
In a bid to boost fresh investments in the making of machinery and reviving industrial growth, the finance minister proposed a 15% deduction for all companies that invest Rs. 100 crore or more on new projects and plans.
In order to make it easier for companies to raise long-term funds in a cost-effective manner, finance minister P Chidambaram on Thursday allowed foreign institutional investors (FIIs) to use their investments in corporate bonds and government securities as collateral to meet their margin requirements.
Finance minister P Chidambaram on Thursday cut the securities transaction tax (STT) from 0.17% to 0.01%. This means that transactions in equities and mutual fund units will now attract a tax of only Rs. 10 for a transaction worth Rs. 1 lakh against Rs. 170 per Rs. 1 lakh earlier.
If the Union Budget were to be judged on some absolute scale, then the savings and investment measures pertaining to individuals would be neither here nor there. Nothing much was done, save some tinkering with the Rajiv Gandhi Equity Savings Scheme (RGESS). Things will pretty much go on as they were.
Mirroring India Inc’s disappointment over finance minister P Chidambaram’s budget, the Bombay Stock Exchange (BSE) sensitive index fell to a three month-low — shedding 291 points, or 1.52% — to close at 18,861.54 on Thursday. HT reports.
Finance minister P Chidambaram proposed in the budget that small and medium enterprises (SMEs), including start-up companies will be permitted to list on the SME Exchange without being required to make an initial public offering (IPO) of shares. HT reports.
To encourage investment in the infrastructure sector, some financial institutions have been allowed to raise about Rs.
50,000 crore from tax-free bonds in 2013-14.
The government today said it will infuse Rs.
14,000 crore in public sector banks next fiscal to ensure that they meet the global capital adequacy norms.
The survey has made a strong pitch to the Reserve Bank of India (RBI) for easing of interest rates to provide affordable and cheaper credit with a view to boosting investment and growth. HT
There is a possibility of a cut in expenditure to contain fiscal deficit, chief economic advisor Raghuram Rajan said on Wednesday.
Share prices of companies that caterto the railway sector were under pressure and tanked as much as 8 per cent on the bourses as railway minister Pawan Kumar Bansal delivered his maiden Rail Budget in the Lok Sabha.
IIFCL likely to set up $500-mn fund to provide guarantees in move to help raise credit rating of infra bonds. The proposal is likely to be announced by finance minister Chidambaram in the budget to be presented next week. Anupama Airy
and Mahua Venkatesh
report. The receipts book