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Times of India
| 1 year ago
The beleaguered UPA government avoided bold reforms in its annual budget on Friday, opting for cautious steps to shore up growth and modest targets to rein in a bloated deficit after a series of political setbacks exposed its vulnerability.
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The Hindu
| 1 year ago
AP Workers at an iron and steel factory on the outskirts of Jammu. File photo Buoying the domestic steel industry, Finance Minister, Pranab Mukherjee has proposed increasing the import duty on flat-rolled steel to 7.5 per cent and reducing duty on...
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Time of India
| 1 year ago
Disappointed over the Budget, industry leaders on Friday said the exercise to mop-up extra Rs 45,940 crore through indirect taxes will lead to further price rise and make it difficult for the RBI to cut interest rates. There were more of negatives...
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International Herald Tribune
| 1 year ago
India's finance minister said Friday that the country would raise taxes and slow growth in spending in an effort to lower its swelling budget deficit, but analysts and investors said they were disappointed that he did not announce measures to bolster...
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Indian Express
| 1 year ago
Following is a list of what will be costlier and which ones will be cheaper following the Budget 2012-13. Costlier: * Two-wheelers, cars, commercial vehicles, * Refrigerators, air-conditioners, washing machines, watches * Soaps, cosmetics, homecare...
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Indian Express
| 1 year ago
Rs 281.75 crore has been given as normal assistance to the city government...In the budget, Finance Minister Pranab Mukherjee has proposed an allocation of Rs 10 crore for building houses for the economically weaker sections under Rajiv Awas Yojna. A...
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Indian Express
| 1 year ago
He, however, said all other subsidies would be funded to the extent that they can be borne by the economy without any adverse implications. Major subsidies are for food, fertilisers and petroleum products, he added. The National Food Security Bill,...
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Indian Express
| 1 year ago
The government has also proposed slapping a tax of 30 per cent on undisclosed money, credits, investments and expenditures, irrespective of the slab of income. Strengthening its efforts to check blackmoney flow in the system, the Budget has proposed...
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Rediff
| 1 year ago
F inance Minister Pranab Mukherjee's agriculture budget pays comprehensive lip service to the UPA's flagship National Food Security Bill, while failing to come to grips with critical issues in the agricultural sector. Public Distribution System to...
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The Hindu
| 1 year ago
Finance Minister Pranab Mukherjee on Friday said the budget was aimed at giving boost to growth with stability and there was a determined effort to regain the path of fiscal consolidation...Stability on the prices front and on macro economic front at...
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The Hindu
| 1 year ago
Gold and platinum will be costlier as the government has proposed doubling the import duty on these metals. I propose to increase basic customs duty on standard gold bars; gold coins of purity exceeding 99.5 per cent and platinum from 2 per cent to 4...
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International Business Times
| 1 year ago
Articles During his budget speech in the Lok Sabha, Friday, the Union Finance Minister Pranab Mukherjee said that "these amendments are based on the recommendation of the Standing Committee on Finance that has gone into details of the above bills."...
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International Business Times
| 1 year ago
Like us on Facebook >Pranab also proposed enhancement of limit of indirect finance under priority sector from Rs...The Finance Minister proposed allowing External Commercial Borrowings (ECB) for low cost affordable housing projects and setting-up of...
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Telegraph India
| 1 year ago
44 AM Sunset : 5:47 PM Today Mainly clear sky...However, confirming fears on the fiscal front, he said the revised estimates for 2011-12 indicate that the fiscal deficit has widened to 5.9 per cent of GDP. The government had been aiming for 4.6 per...
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Asian Wall Street Journal
| 1 year ago
The Indian government proposed legislation Friday that would allow it to retroactively tax overseas mergers in which an underlying Indian asset is transferred, a move that would override the effect of a recent Supreme Court decision in favor of...
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International Business Times
| 1 year ago
Levy of excise duty of 1 percent on branded precious metal jewellery to be extended to include unbranded jewellery. Branded silver jewellery exempted from excise duty. - Chassis for building of commercial vehicle bodies to be charged excise duty at...
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NewKerala
| 1 year ago
Bill, 2011 during the budget session, Finance Minister Pranab Mukherjee said Friday. Presenting the budget for 2012-13, Mukherjee said the government has received the reports of the parliamentary standing committees on finance that looked into these...
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NewKerala
| 1 year ago
He proposed to reduce basic customs duty on soya protein concentrate and isolated soya protein to 10 per cent from the present 30 per cent or 15 per cent respectively. Basic customs duty and excise duty reduced on iodine from 6 per cent to 2.5 per...
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NewKerala
| 1 year ago
In his Budget Speech in Lok Sabha, the Finance Minister proposed to reduce basic customs duty on coating material for manufacturing of electrical steel from 7.5 percent to 5.0 percent. On nickel ore and concentrate and nickel oxide/ hydroxide, the...
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NewKerala
| 1 year ago
The government eyed a net gain of Rs.41,440 crore due to taxation proposals. For people earning up to Rs 2 lakhs per annum, income tax has been exempted. For incomes between Rs 2 to 5 lakhs, tax will be charged at 10 percent while for incomes between...
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NewKerala
| 1 year ago
Delivering his budget speech, Union Finance Minister Pranab Mukherjee on Friday said curbing black money is a priority Concern for the governmet. The Budget proposals envision a multi-pronged strategy to prevent the generation and circulation of...
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NewKerala
| 1 year ago
The allocation for the Ministry of Road Transport and Highways has been enhanced to Rs...This was announced by Union Finance Minister Pranab Mukherjee while presenting the General Budget 2012-13 here on Friday.
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NewKerala
| 1 year ago
The important inclusions in the negative list comprise all services provided by the Government or local authorities, except a few specified services where they compete with private sector. The list also includes pre-school and school education,...
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The Economic Times
| 1 year ago
The Finance Minister has introduced a tax exemption scheme for stock market investments in the Union Budget of 2012-13 to draw new retail investors to equities. The scheme, named Rajiv Gandhi Equity Savings Scheme, will allow 50% tax deduction for...
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Indian Express
| 1 year ago
Currently we are working on the exact amount of the hike," Maruti Suzuki India Managing Executive Officer (Marketing and Sales) Mayank Pareek said. Homegrown auto major Mahindra & Mahindra also said it will increase the prices of its entire range of...
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Daily News & Analysis
| 1 year ago
In a mix of sops and imposts, the General Budget on Friday proposed a marginal raise in income tax exemption limit of Rs20,000 but hiked service tax and standard excise duty by 2% across the board to net an additional Rs41,440 crore a year. The...
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Daily News & Analysis
| 1 year ago
The government on Friday said consultations are on with states to arrive at a broad-based consensus on allowing 51% foreign direct investment in the politically-sensitive multi-brand retail trade. Finance Minister Pranab Mukherjee, while presenting...
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Daily News & Analysis
| 1 year ago
In an interview with a television channel, Pranab Mukherjee said the aim of the Union Budget 2012-2013 was to bring economy back on track. He said the aim of the budget was to enhance purchasing power. There are clear indications of coming back on...
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Daily News & Analysis
| 1 year ago
As Finance Minister Pranab Mukherjee resorted to mopping up more taxes, a disappointed India Inc on Friday said his Budget is a "missed opportunity" and would have cascading impact on inflation and consumer demand. "It is not going to stimulate...
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Daily News & Analysis
| 1 year ago
Left parties today attacked the Union Budget, saying it will increase the financial burden on common people and lead to rise in prices. "The roadmap given by Finance Minister Pranab Mukherjee makes it clear that this budget will increase financial...
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NewKerala
| 1 year ago
I propose to permit external commercial borrowing (ECB) for working capital requirement for the airline industry for a period of one year subject to a ceiling of $1 billion," Mukherjee said while presenting the union budget 2012-13 to the Lok Sabha.
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NewKerala
| 1 year ago
The proposals will give some direct tax relief to individuals, even as eating out, buying luxury cars, air travel, availing some professional services and investing in gold jewellery will become costlier. Presenting his 7th budget in the Lok Sabha...
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NewKerala
| 1 year ago
Service tax raised from 10 percent to 12 percent New Delhi, March 16 : Most services will become costlier as Finance Minister Pranab Mukherjee Friday proposed to raise the service tax to 12 percent from the existing 10 percent. "I propose to raise...
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Rediff
| 1 year ago
G iving some relief to tax payers, Finance Minister Pranab Mukherjee on Friday proposed raising the income tax exemption limit for individuals to Rs 2 lakh per annum from Rs 1.80 lakh. Unveiling the Budget proposals for 2012-13 in the Lok Sabha, he...
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NewKerala
| 1 year ago
Presenting his penultimate Budget, Mr Mukherjee made it clear that FDI in multi-brand retail had not been withdrawn but put on hold as political consensus was being worked out. Bank recapitalisation was high on the agenda of the Government,which...
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Times of India
| 1 year ago
Pranab Mukherjee , while presenting the Union Budget 2012-2013 proposed to increase duty on large cars and refined gold and remove any duty on import of silver...UP : AC, gold jewelery, refrigerator, telephone bills, SUVs and cigarettes, handrolled...
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Taiwan News
| 1 year ago
Travel & Delicacy Beauty never Ends Ecological Environment Associated Press 2012-03-16 03:49 PM India 's government aims to reduce its budget deficit to 5.1 percent of gross domestic product next fiscal year, from 5.9 percent this year, the Finance...
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Indian Express
| 1 year ago
India had targeted a budget deficit of 4.6 per cent for the current fiscal year ending in March and will miss that by a wider margin than many economists had expected. In a mix of sops and imposts, the Budget proposed a marginal raise in income tax...
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Indian Express
| 1 year ago
I don't see any populist schemes, but this not a reformist budget either...I think the political compulsions made them decide that the best way is to play it safe -- neither populist nor reformist. We are disappointed with the budget because it...
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Telegraph India
| 1 year ago
44 AM Sunset : 5:47 PM Today Mainly clear sky...In his speech in the lower house of parliament, the Finance minister said, No IT for income up to Rs 2,00,000, 10 per cent on income between Rs 2-5 lakh; 20 per cent on income between Rs 5-10 lakh and...
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Al Jazeera
| 1 year ago
02 India is under pressure to trim the country's fiscal deficit amid cooling economic growth [Reuters] India's economy is showing signs of a turnaround after months of slowdown, the country's finance minister has said while presenting the federal...
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The Economic Times
| 1 year ago
In an interview with ET Now, Bibek Debroy , consulting editor, ET Now, gives his views on the Budget...It is also a good move since that would reduce the government's borrowing costs...Bibek Debroy: No, I do not think one should read too much into...
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The Economic Times
| 1 year ago
Shares of retail companies gained value as the Finance Minister Pranab Mukherjee said that efforts are on to arrive at a consensus on allowing foreign investment in multi-brand retail business. Shopper's Stop gained 3.3 per cent, Pantaloon Retail was...
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The Economic Times
| 1 year ago
Shares of Jet Airways and SpiceJet corrected sharply on Friday even though the budget highlighted ECB limit to aviation sector which they could use to finance their working capital requirement. Announcing his budget proposals, Finance Minister Pranab...
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The Economic Times
| 1 year ago
Presenting the union budget for 2012-13 in the Lok Sabha, Finance Minister Pranab Mukherjee said the upper limit for the 20 percent tax slab would be increased to Rs.10 lakh. The Finance Minister Pranab Mukherjee announced raising the tax exemption...
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The Hindustan Times
| 1 year ago
Finance Minister Pranab Mukherjee presented a lackluture budget in the Parliament on Monday, which lacked bold initiatives for reform. Apart from increase in service and excise tax the finance minister has not proposed any tough measures which can...
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Times of India
| 1 year ago
Finance minister Pranab Mukherjee said in his Budget speech that the government is actively considering allowing FDI in aviation by global airlines. He added that Indian airlines will be allowed to raise up to $ 1 billion via external commercial...
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NewKerala
| 1 year ago
During April-January 2011-12, export grew by 23 percent to USD 243 billion (Rs.1,093,500 crore)," Mukheree told the Lok Sabha while presenting the budget for 2012-13. "What is heartening is that India has successfully achieved diversification of the...
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Daily News & Analysis
| 1 year ago
Rajiv Gandhi equity scheme - to be introduced Simplifying process of IPOs Mandatory for companies to issue stocks over Rs 10 cr through online system 8 financial amendments bills to be introduced this year Central Know Your Customer repository would...
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The Economic Times
| 1 year ago
The Finance Minister Pranab Mukherjee announced the implementation of the Direct Taxes Code (DTC) at the earliest. The Standing Committee of Parliament that has scrutinised the DTC Bill has already submitted its report to the Lok Sabha Speaker. As a...
