top news »
The government is out to boost the making of microchips in India by encouraging high-technology electronic manufacturing in the country.
Finance minister P Chidambaram said the cabinet would look into the Rs. 11,200 crore Vodafone tax case involving retrospective taxation to take a final decision on its settlement and whether there should be any conciliation.
Finance minister P Chidambaram has kept funds for spurring a "second revolution" in eastern states unchanged at Rs.
1,000 crore, but Budget 2013-14 has pledged additional funds for an urgent need to make farmers grow more diverse crops, rather than just staples. Food Economics
Finance minister P Chidambaram announced the launch of the National Livestock Mission in 2013-14 to support poultry, dairy farming and fisheries, which are critical for small farmers to keep earnings going and in case crops fail. HT reports.
The government's target of raising about Rs. 40,000 crore from the sale of telecom spectrum during the current financial year has fallen flat.
Finance minister P Chidambaram spared agricultural commodities traded in the futures market of a new commodity transaction tax, which could have pushed food inflation levels higher. HT reports.
In its less-than-impressive fight against malnourishment, India is all set to try out a new strategy by investing Rs. 200 crore on nutrifarms to grow super nutritious or 'bio-fortified' crops. HT reports.
In 2009, when India faced its worst drought in three decades, the country managed to produce a million more tonne of foodgrains than it did in 2007, a normal year. That's both an achievement and a failure. Zia Haq
reports. Kitchen economics
The central spending to counter internal security challenges is set to cross the Rs. 50,000 crore-mark over the next one year, twice of what was being spent in 2008 when terrorists struck Mumbai.
The Rs. 37,330 crore budget allocation to the ministry of health and family welfare is making several public health experts question the UPA's commitment to 'health for all', which ambitiously plans to offer universal health coverage for all during 12th five-year plan (2012-2017) .
The real estate incentives announced in Thursday's Budget will not only be of no use to homebuyers in Mumbai, but will also create more problems as the houses will cost more due to 1% tax on transfer of property, say experts. To make matters worse, even the service tax on sale of houses costing above Rs. 1 crore will increase.
Major car manufacturers posted dismal sales in February, indicating that customers were neither lured by temptations of purchasing cars before the budget to beat any possible excise duty hike, nor by the generous discounts on offer. HT
reports. The sales chart: gloomy winter
The 3% excise duty hike on SUVs in India, announced during the union budget on Thursday, may spell the end of the purple patch the segment has been going through, while spelling hope for the beleaguered sedan segment. Sumant Banerji
reports. Cars Vs SUVs: percentage growth
The finance ministry is working towards an amicable resolution of the retrospective tax amendment issue that could provide some relief to British telecom giant Vodafone, which is facing a tax liability of Rs.
Struggling to meet its budgeted disinvestment target of Rs.
30,000 crore for the 2012-13, the government is set to fix an even higher target of over Rs.
40,000 crore for the next fiscal year. Mahua Venkatesh
and Anupama Airy