HindustanTimes Wed,02 Sep 2015

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Wake up and steer growth

India's economy is on track on to record its worst growth in a decade, and that should serve as a wake-up call to revive reforms and remove obstacles to growth, the Economic Survey for the current fiscal year tabled in Parliament said on Wednesday. HT reports.

Pre-poll budget may put more cash in your hand

Around noon today, you could get some good news from finance minister P Chidambaram, who is expected to raise the income tax exemption limit from the current level of Rs. 2 lakh. Gaurav Choudhury reports.

Reformist finance minister faces budget moment of truth

Finance minister P Chidambaram will present one of the most highly anticipated budgets of recent years on Thursday, a blueprint for austerity that forms the centrepiece of India's efforts to stave off a damaging credit ratings downgrade.

10% surcharge to be levied on Rs. 1-cr-plus incomes for 1 year

The finance minister slapped a tax on the super-rich, a worldwide theme this year, though he did not call it as such. He proposed a 10% surcharge on persons with a taxable income exceeding Rs. 1 crore per year in the budget for 2013-14 and would run for only one year.

Low incomes get tax credit

The budget has left personal income tax slabs unchanged, but finance minister P Chidambaram announced a minor relief for those at the lower end of the taxable bracket — a tax credit of Rs. 2,000 for those with annual incomes of up to Rs. 500,000.

Unsporting gesture? SUVs get a tax sock on the bonnet

If you are in the market for a sports utility vehicle, get ready to dig deep into your pockets. The government on Thursday increased the excise duty on sports utility vehicles from 27% to 30%, which will mean a price rise ranging from Rs. 15,000 for a no-frills Mahindra Bolero, to up to Rs. 75,000 for a Toyota Fortuner. HT reports.

Despite funds crunch, budget boost for research and innovation

India will set up a new fund to support organizations that bring key innovations from the lab to the market, the first such initiative aimed at bridging a major gap that has long limited the Indian research's potential to earn revenue.

Welfare on a slowdown

With one eye on election and other on fiscal management finance minister P Chidambaram struck a delicate balance between "pragmatism" and "populism" in his meager increase in allocations for the social sector for financial year 2013-14 without compromising on priority areas for the UPA government -- inclusive growth. Chetan Chauhan reports.

Corporates hail budget focus on growth, fiscal consolidation

India Inc broadly welcomed the absence of any harsh moves in the budget presented by finance minister P Chidambaram today and termed it as "balanced" and "purposeful" but maintained a lot more could have been done.

Budget 2013: finance minister offers growth tablet

Finance minister P Chidambaram delivered a carefully crafted budget yesterday that sought growth and resisted the temptation to be populist ahead of looming state and LS elections. Gaurav Choudhury reports. What's in it for you | The billionaires' club: ups and downs | Lifestyle inflation | The A, B, C of India's growth journey | UPA's economic story unplugged

Government pacifies investors on tax residency jitters

Moving to assure foreign investors over a budget proposal, the finance ministry said on Friday that it was not targetting investment vehicles based in tax havens by questioning the validity of their tax residency certificates. HT reports. Soothing music on FM channel

Amid budget cuts, India's schools to stay afloat

India's 3.5 crore taxpayers will keep the country's massive schooling system afloat this year despite unprecedented education budget cuts, because of increased collections through the dedicated education cess levied on their income tax.

Less funds may derail govt plans

The Union finance minister, in his budget speech on Thursday, said "health for all and education for all remain our priorities", but when it comes to providing for the various programmes in these sectors, he fell woefully short.

Chidambaram warns tax dodgers, rules out amnesty

In warning to tax dodgers, finance minister P Chidambaram on Sunday said that a huge amount of data is being mined to go after them and ruled out any amnesty scheme for defaulters.
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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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