NDTV Budget: News

Budget impact on oil & gas sector

The Budget has not been so positive for the oil & gas sector. Although, the Budget proposes to reinstate the tax holiday on production of natural gas, the benefit of the same is restricted only for blocks proposed to be offered under the NELP - VIII round.

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Budget falls short of expectations, says India Inc

The budget has failed to meet the expectations of India Inc. The abolition of the FBT was broadly welcomed but the hike in MAT and the extension of the STPI benefits by just one year disappointed many.

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Budget impact on power sector

This year’s budget seems to be focused on increasing expenditure in the various government schemes being undertaken for the improvement of the power sector.

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Govt announces Rs 1,00,000 cr for infrastructure

The government on Monday said IIFCL and banks are equipped to support projects involving investment to the tune of Rs 1,00,000 crore in infrastructure.

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Budget impact: Sectors and stocks

The Budget 2009 is seen to have a positive impact for auto, cement and IT sectors. On the other hand, it is seen to have a negative fallout for the banking sector.

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Indirect tax rates unchanged, exchequer to take a hit

The government today retained the broad rate structure for all indirect taxes, which will dent its kitty under this head by 16.11 per cent this fiscal compared to projections a year ago.

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Interest subsidy, ECGC scheme extended till March 2010

Providing relief to exporters hit by the global meltdown, the government today extended the time period for two per cent interest subsidy and insurance cover up to March 2010, besides raising the market development assistance allocation.

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Sensex nosedives 869 pts on Pranab’s Bharat push

Indian stocks were hammered as investors expressed disappointment after Pranab Mukherjee presented an expansionary budget that did not outline any major reforms. The Sensex fell 869 points to end at 14,043.

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Fiscal deficit to widen to 6.8%

The government's fiscal deficit is estimated to be 6.8 per cent of GDP in 2009-10 against the low of 2.5 per cent projected for the previous fiscal a year ago, as expenditure is expected at over Rs 10 lakh crore and tax collection can take a hit due to stimulus packages.

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Big push for rural development projects in Budget

Giving a push to its rural development projects, the government today announced a 144 per cent jump in the allocation for the flagship job guarantee scheme, NREGA, and 45 per cent hike for the Bharat Nirman programme that seeks to improve infrastructure in villages.

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Budget disappoints, markets tank

The key benchmark indices plunged further in a broad decline in late afternoon trade today. Banking, metals, realty and capital goods counters were under severe selling pressure.

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Govt raises MAT to 15%

The government today raised the Minimum Alternate Tax (MAT) to 15 per cent even as it abolished the Fringe Benefit Tax (FBT) and Commodities Transaction Tax (CTT).

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Govt eyes Rs 1,120 cr via divestment

The government today announced increasing people's holding in public sector undertakings through the disinvestment programme, but said it would retain at least 51 per cent equity in these enterprises.

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Govt scraps Commodity Transaction Tax

The government today abolished the Commodity Transaction Tax (CTT) that was announced in the Budget last year, but was yet to be implemented. The commodity exchanges rejoiced the decision.

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Govt raises I-T exemption limit, scraps FBT

The government on Monday announced a slew of tax sops, including an additional Rs 10,000 personal income tax exemption and scrapping of 10 per cent surcharge.

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