HindustanTimes Tue,28 Jul 2015

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FM to sweeten home loans with tax break

Finance minister P Chidambaram may have good news for home loan borrowers in the union budget for the financial year 2013-14. Gaurav Choudhury reports.

State guarantee for private infra bonds on the way

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

Railway stocks under pressure, tank as much as 8%

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.

Cut interest rates to provide cheap credit

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 reports.

Possibility of expenditure cut exists: Rajan

There is a possibility of a cut in expenditure to contain fiscal deficit, chief economic advisor Raghuram Rajan said on Wednesday.

Govt to infuse Rs. 14,000 cr in public banks

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.

Govt allows FIs to raise Rs. 50,000 cr via tax-free bonds

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.

Easier for SMEs to list, grow

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.

Market sings the blues

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.

It’s status quo, things will go on as they were

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.

STT reduction can ease up investment deals

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.

Foreign institutional investors get extra legroom in corporate bonds

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.

Invest now, get tax break

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.

Inflation-index bonds to woo gold investors

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.

Additional Rs. 1 lakh deduction for first-time home buyers

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.

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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


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