For every rupee in government kitty, as much as one-fourth will come from market borrowing in 2014-15, lower than the current fiscal ending March 31.
Opposition on Monday trashed the interim budget, terming it as a "farewell budget" of a government which has "lost" on all counts and has nothing to offer to the people.
The automotive shares gained on Monday after the country's finance minister proposed cutting the factory gate duty on vehicles, a move that could reduce vehicle prices and boost sales.
Presenting the Interim Budget 2014-15, Chidambaram on Monday said democracy acknowledges diversity, respects dissent, encourages debate and decides through a government of elected representatives.
Finance minister P Chidabaram on Monday said that the Direct Taxes Code (DTC) will be put on the website of the ministry for a public discussion without partisanship or acrimony.
Finance minister P Chidambaram on Monday said that 57 crore unique numbers have been issued under the Aadhaar scheme and that the government is fully committed to implementing it.
Chidambaram said Rs.2,600 crore will be transferred to Canara Bank, the nodal bank managing the interest subsidy scheme on educational loans.
Cracking down on alleged wealth stashed by Indians abroad, the government has initiated enquiries in several cases while information has been received in 67 such cases and prosecution for wilful tax evasion has been launched in 17 other cases.
In his interim budget speech, Chidambaram said Rs. 500 crore has been earmarked to kick off the scheme in 2014-15. The defence budget has been raised from Rs. 203,672 crore to Rs. 224, 000 crore, a 10% rise over last fiscal year’s outlay. Rahul Gandhi backs one rank, one pension issue
Finance minister P Chidambaram presented the interim budget for the fiscal year 2014-15 on Monday to cover expenditure until the government's term ends in May.
The govt has failed to promote its accomplishments and they have slipped from public memory. Looking back, neither the Wall Street collapse nor the fraud at Satyam Computers in 2008 could be blamed on the UPA.
The finance minister has used the occasion to present a 10-year report card of the economy, focusing on the constraints the government has had to face, as he walked the talk on fiscal discipline through a set of carefully crafted arguments.
The benchmark Sensex jumped 97 points to end at its highest level this month, led by banking, power and auto shares on hopes tax concession proposals announced today in interim budget will boost economic growth.
The rupee is trading lower at Rs 61.96/97 on Monday from its close of Rs 61.92 on Friday ahead of the interim budget presentation due to start at 11 am.
Finance minister P Chidambaram will present the interim budget for 2014-15 on Monday, but will likely steer clear of making any pre-poll populist announcements.