News

Photo for representation purposes only. (Source: Reuters)

Updated : Mar 2, 2015

Budget 2015 unlikely to impact India's rating, say credit rating firms

Global ratings agency Standard & Poor's said the Budget highlighted a commitment to keep the deficit low, but lacked structural reform.

Updated : Mar 2, 2015

Budget 2015 is credit positive for corporates, says Moody's

However, Moody's said that the increase in service tax is credit negative for corporates as it would increase their production cost.

Updated : Mar 2, 2015

PM Modi passes Budget test despite lack of reform dazzle

While it was short on the "big bang" reform measures, the Budget won plaudits for moves to cut corporate tax and make India more competitive.

Finance Minister Arun Jaitley outside North Block (Photo: Reuters)

Updated : Feb 28, 2015

Budget 2015: Finance Minister Arun Jaitley scores on social media

It was a close contest between cricket and the Budget. Would a nation of 1.2 billion choose to tune into the Cricket World Cup or watch the presentation of a document that would impact their financial destiny in the year to come?

Updated : Feb 28, 2015

Tax sops likely in Modi govt's first full-year Budget

The Budget, to be presented in the backdrop of the ruling BJP-led NDA losing Delhi elections, is likely to either raise tax slabs or hike investment limit in saving instruments.

Updated : Feb 28, 2015

Will Arun Jaitley's Budget follow Economic Survey road map?

Indicating towards Saturday's Budget, the Economic Survey said the country can balance short-term boosting of public investment for economic growth along with "fiscal discipline".

Updated : Feb 27, 2015

Budget special: Does having more income tax slabs really help you?

With the budget around the corner, the biggest demand is for the rise in the number of income tax slabs. But do they really reduce your tax outgo?

"There is no plan to increase fertiliser prices," one of the sources told Reuters.

Updated : Feb 25, 2015

Union Budget 2015-16: Govt may marginally cut fertiliser subsidy

The government had earmarked a subsidy of Rs 72,970 crore for the current fiscal year ending March 31.

Updated : Feb 25, 2015

SBI arm calls for higher fiscal deficit target to boost investment

A note by SBI Research said the government will cap the subsidy payments at 1.7% of GDP for FY16, which will create additional room to scale up the capex at 1.5% of GDP.

Updated : Feb 24, 2015

Union Budget 2015-16: FM Jaitley may announce policy plans to combat black money menace

While the SIT has suggested over a dozen measures to the government to check "black economy" in the country, some special recommendations and requirements have been raised by various financial investigation agencies which they feel will arm them to effectively deal with the problem.

Last year, the finance minister had raised the personal Income Tax exemption limit by Rs 50,000 to Rs 2.50 lakh (Photo: Associated Press)

Updated : Feb 23, 2015

Budget 2015-16: FM Arun Jaitley may dole out tax sops to win over middle class

Last year, he had raised the personal Income Tax exemption limit by Rs 50,000 to Rs 2.50 lakh.

The global financial services major also expects the government to revise the Goods and Service Tax roadmap with realistic deadlines. (Photo: Reuters)

Updated : Feb 22, 2015

HSBC sees Budget 2015-16 focusing on public investment-led growth

The global financial services major also expects the government to revise the Goods and Service Tax roadmap with realistic deadlines.

Updated : Feb 22, 2015

Govt braces for tough Budget Session, 44 items on agenda

The government's agenda includes 44 items of financial, legislative and non-legislative business.

Finance Minister Arun Jaitley (Photo: Reuters)

Updated : Feb 20, 2015

Govt may cut food subsidy bill by 20 per cent in Budget

The sources said Finance Minister Arun Jaitley was likely to set the total budget for subsidies at about $32 billion, down from $40 billion in the current financial year.

At present, LTA or LTC covers only economy class air travel or first class (AC I Class) rail fare.

Updated : Feb 20, 2015

Union Budget 2015-16: Govt may relax LTC norms to boost tourism

"To boost domestic tourism and also provide some tax relief to the individuals, the Leave Travel Concession benefit should be increased to one visit for every financial year," KPMG (India) Partner Vikas Vasal said.

Finance minister Arun Jaitley attending the 'halwa ceremony' in the North Block office. The Budget, which will be the first full-fledged Budget of the present NDA government, is scheduled to be unveiled in Parliament on February 28.

Updated : Feb 19, 2015

Printing of Budget document begins with 'Halwa' ceremony

It has been a tradition which has continued for long. As part of the ritual, 'halwa' is prepared in a big 'kadhai' (vessel) and served to the entire staff in the ministry.

Updated : Feb 19, 2015

Budget 2015: Income of salaried individuals may increase

Here are five plans that may be announced by the finance minister during his Budget speech on February 28.

Prime Minister Narendra Modi and Finance Minister Arun Jaitley during a function in New Delhi on Feb 17. (Photo: PTI)

Updated : Feb 18, 2015

Tax relief likely for firms investing in Swachh Bharat, Clean Ganga initiatives

India Inc has submitted as part of its wish-list that the funds it allocates under the mandatory corporate social responsibility be allowed as a deduction in computing tax liability.

MAHINDRA AEROSPACE PLANT IN BANGALORE: Arvind Mehra, Global CEO of Mahindra Aerospace, says in the next 12 months, the new Bangalore plant will have enough orders to run at full capacity for five years. (Photos: Nilotpal Baruah/BT Photo)

Updated : Feb 17, 2015

Budget 2015: Outsourced commercial aerospace manufacturing may see a boom in India

According to some estimates, Airbus Group alone sourced over $300 million worth of products and services from India in 2013/14. The figure was $200 million in 2011/2012.

Updated : Feb 16, 2015

FM Arun Jaitley may re-impose customs duty on crude oil imports in Budget

At five per cent basic customs duty, the government will earn over US $3 billion on an annualised basis, which will aid it in meeting its fiscal deficit target.

A statistical twist to the way GDP is measured showed on Monday that India clocked faster growth than China in the third quarter. (Photo: Reuters)

Updated : Feb 10, 2015

Budget 2015 to assume FY16 growth of over 8 per cent

A downward revision in nominal GDP in the current fiscal year would require spending cuts of around $1.5 billion to hit Jaitley's fiscal deficit target of 4.1 per cent of GDP.