The 24% hike in the outlay for education announced in the union budget will not help the sector because what is needed is a change in mindset, Human Resource Development Minister Kapil Sibal said on Thursday.
Pranab Mukherjee’s announcements of the Goods and Services Tax (GST), an expanded information highway for colleges and attempts at improving farm sector health critically rely on technological infrastructure that India is desperately trying to put in place. Charu Sudan Kasturi
reports. Must haves
Domestic passenger car and two-wheeler sales surged in February as customers advanced their purchases in anticipation of an increase in excise duties in the Union Budget that could have made cars and bikes costlier. HT reports.
Many real estate developers across India who do not have a presence in the affordable housing segment may foray if the “investment linked deduction” offered by the government on investment in the sector is substantial. Sachin Dave reports.
The BSE auto index rose 5.6% on Tuesday, a day after the government announced no change in central excise duty in the Union budget, contrary to industry expectations. HT reports.
In what may be a costly error in this year's Union budget, a so far seemingly unintentional change in the definition of Complete Knocked Down (CKD) unit or vehicles -- where parts are imported and then assembled -- promises to disrupt production of cars in the country, throwing the industry in disarray. Sumant Banerji reports.
India will spend 1.8 % of its GDP on defence this fiscal, the Union Budget for 2011-12 revealed. Experts, however, said defence spending ought to have been around 3% of the GDP, seen in the backdrop of China’s rising military might.
India's satellite launch programme on Monday received a significant financial boost at a time when the Indian Space Research Organisation (Isro) is recovering from the scars of the controversy involving its commercial arm Antrix.
Finance minister Pranab Mukherjee on Monday made a strong pitch for financial sector reforms promising to push ahead with major legislations including politically contentious insurance and pension legislations.
The Union Budget 2011-12 was a huge disappointment for the IT-BPO sector of India as major demands of the $76 billion industry found no mention in finance minister Pranab Mukherjee’s budget speech. HT reports.
The government is banking heavily on disinvestment proceeds and additional revenue of telecommunications licence and spectrum fee to bolster its balance sheet with nearly 40% of its non-tax revenues expected to come in from these two sources.
Finance minister Pranab Mukherjee on Monday set out a medium-term roadmap to return to fiscal prudence, targeting to reduce the fiscal deficit to 4.6% of gross domestic product (GDP) in 2011-12 and eventually bringing it down to 3.5% in the next two years.
The ministry of youth affairs and sports has been allocated Rs. 1,121 crore in the annual budget for 2011-12, which is nearly one-third of last year's 3,315.67 crore.
Finance minister Pranab Mukherjee on Monday signalled the government’s intent to further liberalise norms to attract foreign capital in key sectors triggering speculation about possible opening politically sensitive sectors such as retail.
Taking cues from each line delivered by the finance minister in his budget speech for 2011-12, the benchmark Sensex of the Bombay Stock Exchange remained volatile but stayed in the positive territory throughout. HT reports.