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HindustanTimes Mon,14 Jul 2014

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Little money in poll year

Dashing the hopes of chief minister Sheila Dikshit in an election year, finance minister P Chidam­baram allocated only R1,143 for Delhi in 2013-14. The Centre’s assistance has gone up by just Rs. 44 crore from last year’s Rs. 1,099 crore.

Metro gets a Rs. 3,000-crore boost for phase 3 expansion

The Delhi Metro Rail Corporation (DMRC) heaved a sigh of relief after Union finance minister P Chidambaram announced an allocation of Rs. 3,120 crore for the network's phase 3 expansion.

Finance minister leaves service tax alone, no clarity on GST

The finance minister has refrained from tinkering with service tax rates. Service tax generated tax revenue of over Rs. 97,579 crore in the financial year 2011-12, and has emerged as an important source of revenue in the last few years.

NGOs welcome ‘Nirbhaya’ fund for women

Welcoming the allocation of Rs. 1,000 crore for setting up a ‘Nirbhaya’ fund for women, activists have suggested the money be used for emp­owerment of women and gender sensitisation. The special fund comes after the December 16 gang rape in Delhi that sparked nationwide outrage.

Textile, apparel sectors get fiscal bailout

The crisis-ridden domestic textiles and apparel sector got a much-needed fiscal bailout in the budget with the government providing a host of sops to trigger a revival in the labour-intensive sectors that create jobs. HT reports. The good life

Relief for AI, govt set to infuse Rs. 5,000 cr in 2013-14

The government will give Rs. 5,000 crore to Air India (AI) in 2013-14 as part of its bailout package for the national carrier. The aviation ministry had asked for Rs. 8,500 crore. At the same time, the government has moved to encourage aircraft maintenance as an industry in India. HT reports.

Delhi Police gets Rs. 600 cr more to improve working

Delhi Police, which was under heavy fire for its alleged mishandling of the December 16 gang rape and had cited a manpower and infrastructure crunch as a shackle to more efficient functioning, was allocated Rs. 600 crore more in the Union budget.

Oil, gas sector policies change to aid investors

In a move likely to revive investment interest of global energy companies in India's oil and gas sector, finance minister P Chidambaram's budget speech for 2013-14 said the government will review its natural gas pricing and oil exploration policies. HT reports.

Big push for infra bonds, ports and road building

In a big push for infrastructure, the budget for 2013-14 outlined steps to raise Rs. 50,000 crore via tax-free bonds, a plan to set up major ports and a regulator for road-building. HT reports.

Duty axe falls on toys of the rich

There is bad news for the Ferraris, the Lamborghinis, the BMWs and the Audis. The government on Thursday hiked customs duty on imported cars that cost over $40,000 ( Rs. 22 lakh) from 75% to 100%, which will substantially increase the prices of these cars.

Electric vehicle industry gets a shock from FM

High expectations notwithstanding, the electric vehicle industry scored a blank in this year’s budget, with a token two-year extension of existing exemptions on basic customs duty and special additional duty on specific components as the only incentives.

Industry raises two cheers

The UPA II government's last budget before elections next year evoked mixed reactions from the corporate sector, which praised lack of populism in the wake of the Centre's tricky financial health but lamented absence of more concerted steps that could have spurred an economic revival. HT reports. Driven India | Measuring the economic assets | Trivia | Passenger vehicles per 1,000 people

Budget stresses need to cut reliance on coal imports

Finance minister P Chidambaram made a concerted effort to rationalise the price of imported coal by announcing equal duties for imports of both steam and bituminous types of coal.

Painful pinch for smartphones

All those who had been planning to upgrade from a cheap mobile handset to a sleek smartphone may do a re-think: the finance minister has hiked the excise duty hike for handsets priced above Rs. 2,000.

TDS on big property deals, agri transactions exempted

In an attempt to curb tax evasion through under-valuation and concealment of information in property purchase and sales, the budget has proposed a tax deduction at source (TDS) of one per cent on all transfers of immovable properties involving transactions of over Rs. 50 lakh.
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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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