Budget News

Updated : Feb 19, 2013

Budget 2012 highlights

Prominent highlights of the Budget for 2012-13 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday:

Updated : Apr 23, 2012

Budget 2012: 'The least we can do is make our tax laws investor-friendly'

The least we can do is make our tax laws investor-friendly and implement them with a sense of certainty, equity and fairness. The world does not need us: Quit India 2012 must not be allowed to happen.

Updated : Mar 29, 2012

Budget 2012: How it impacts six key sectors

The Budget met with mixed response from industry. An analysis of the impact on six key sectors for Business Today by Ernst & Young.

Updated : Mar 29, 2012

Budget 2012: Key observations of the finance minister

Key observations of the finance minister in his Budget speech and thereafter.

Finance Minister Pranab Mukherjee arriving at the Parliament on Friday, March 16, 2012.

Updated : Mar 21, 2012

Budget 2012: Another opportunity lost for UPA

This Budget could have sent out a strong signal to the world that India means business. But without a commitment to much-needed reforms in the Budget, the government missed an opportunity.

Updated : Mar 20, 2012

Rajiv Gandhi Equity Scheme details in a month: FinMin

The Finance Ministry on Wednesday said it is working on the proposed Rajiv Gandhi Equity Savings Scheme, which is aimed at boosting retail investments in capital market, and the details are expected in a month's time.

Updated : Mar 19, 2012

Excise duty hike on non-branded jewellery to be borne by manufacturers: CBEC

Finance Minister Pranab Mukherjee in his Budget proposals for 2012-13 has doubled the basic customs duty on standard gold bars to 4 per cent and non-standard gold to 10 per cent.

Updated : Mar 19, 2012

Budget 2012: Fallout fears held back Pranab from reforms

Mukherjee said that he had to keep in mind the prevailing ground reality that "a decision taken in one House is reversed or changed within 24 hours in the other House."

Updated : Mar 18, 2012

Budget 2012 gives boost to agri extension

The weighted deduction in income tax on agriculture extension expenditure is a welcome signal to the private sector as it could encourage their role in the agri-extension services.

Updated : Mar 17, 2012

Budget 2012: Microfinance Bill to be tabled in Budget session

The Indian microfinance sector heard the only news it was hoping to hear from the finance minister in the Budget that  the government proposes to table the Micro Finance Institutions (Development and Regulation) Bill, 2012 in the Budget Session of the Parliament.

Updated : Mar 16, 2012

Budget 2012: Fair moves for education, employment

The announcement to set up 6,000 new model schools at the block level, with 2500 via Public-Private Partnerships has been reassuring.

Updated : Mar 16, 2012

Govt to retrospectively tax Vodafone deal

In a significant move that will have implications in the Vodafone and other cases involving tax liability of about Rs 40,000 crore, the government on Friday proposed to amend the IT Act with effect from 1962 to bring under net all overseas transactions involving domestic assets.

Updated : Mar 16, 2012

FM introduces new tax exemption equity plan, proposes STT cut

To encourage retail investors to participate more in the capital market, Finance Minister Pranab Mukherjee on Friday proposed a new tax exemption scheme - Rajiv Gandhi Equity Saving Scheme - in the 2012-13 Union Budget.

Updated : Mar 16, 2012

Budget 2012: What becomes costlier and cheaper

Finance Minister Pranab Mukherjee proposed to raise excise duty to 12 per cent from 10 per cent and a similar hike in service tax rate while presenting the Union Budget 2012-13.

Updated : Mar 16, 2012

Budget 2012-13: Air India to get Rs 4,000 crore support

Finance Minister Pranab Mukherjee proposed to pump in Rs 4,000 crore in equity into the ailing national carrier, Air India, in the next fiscal.

Updated : Mar 16, 2012

Budget 2012: Sensex falls 210 pts on tax proposals

Stock markets fell as investors found the Union Budget proposals as tax mopping and inflationary, with the BSE benchmark Sensex falling 210 points to 17,466.20, despite firmness in global equities.

Updated : Mar 16, 2012

Income tax exemption limit hiked, slabs changed

The tax exemption limit for individuals has been hiked to Rs 2 lakh from the current Rs 1.8 lakh, while the tax slabs have been rejigged to provide relief to tax payers.

Updated : Mar 16, 2012

Insurance, pension Bills to be tabled in Budget session

The government will move The Insurance Laws (Amendment) Bill, 2008 and The Pension Fund Regulatory and Development Authority (PFRDA) Bill, 2011 during the Budget session, Finance Minister Pranab Mukherjee said on Friday.

Updated : Mar 16, 2012

Budget 2012 proposes 17% hike in defence spending

To give a further push to its rapid military modernization, India Friday hiked its military spending by over 17 per cent to Rs.1,93,407 crore.

Updated : Mar 16, 2012

Budget aims at faster, inclusive growth: PM

"Finance minister has been able to address the twin tasks of checking inflation and accelarating growth," Manmohan Singh's office said, quoting him, on the microblogging site Twitter.

Updated : Mar 16, 2012

Service tax raised from 10% to 12%

Most services will become costlier as Finance Minister Pranab Mukherjee on Friday proposed to raise the service tax to 12 per cent from the existing 10 per cent.