HindustanTimes Mon,03 Aug 2015

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Chipmaking in India gets a boost

The government is out to boost the making of microchips in India by encouraging high-technology electronic manufacturing in the country.

Vodafone's Rs. 11,000-crore tax avoidance ball in cabinet court

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.

Green Revolution 2.0 to focus on diversification

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

Govt unveils livestock mission plan

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.

Spectrum sale not to yield revenues

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.

To control food inflation, agricultural commodities spared futures tax

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.

'Nutrifarms' to help check malnutrition

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.

From famines to food security

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

Rs. 52,264 crore for internal security

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.

Health allocation not enough to cover everyone, say experts

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) .

Flats in Mumbai will cost more after Budget: experts

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.

Auto industry stays in slump in Feb, budget adds to woes

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

End of SUV dream run?

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

Budget may contain solution for Vodafone row

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. 11,200 crore.

Budget may boost PSU disinvestment target

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 report.
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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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