Union Budget 2015-16 Latest News Business Today
Prime Minister Narendra Modi

The government has pocketed nearly US $3.5 billion from repeated hikes in tax on fuel on the back of halving of global oil prices since mid-2014.

 
 
The Minister of State for Finance also assured foreign investors that tax issues will be addressed appropriately in the next Budget.
During the session, government will push for passage of Bills on six ordinances promulgated recently, which includes ordinance in Land Acquisition Act.
People can send their budget suggestions at e-mail addresses: budsugg.1516@gov.in and rajat.bhargava@nic.in, the release said.
Some economic advisers argue that the government's capital spending should be increased to help the economy break free of its slowest phase of growth since the 1980s.
 
 
The finance ministry is considering a proposal to liberalise incentives to boost slowing corporate investment in the manufacturing sector.
Credit Suisse said that the government was pocketing a large part of gains from the global slump in oil prices and can spend to generate growth.
The government estimates that the country needs to spend about US $800 billion on infrastructure to grow at 7 per cent per annum.
Commerce Secretary Rajeev Kher says issues related to service tax and simplification of procedures would also be resolved before the new Budget.