Union Budget

March 01, 2013 16:42 (IST)

With 2014 elections only a year away, this Budget was expected to be populist. Credit should be given to Finance Minister P Chidambaram to have stuck to his own motto of pursuing a clarity in tax laws, a stable tax regime, a non-adversarial tax administration, and a fair mechanism for dispute resolution.

March 01, 2013 15:40 (IST)

Finance Minister P Chidambarams Budget for 2013-14 reflects intent to tax the super-rich across multiple segments. That is also reflected in the key indirect tax changes proposed in the auto sector, the major impact of which would be on industry players specifically catering to the luxury car segment.

March 01, 2013 15:25 (IST)

Finance Minister P. Chidambaram outlined a strategy to lure small investors away from gold into other savings products.

New Delhi | March 01, 2013 14:08 (IST)

A hike in tax on sport utility vehicles (SUVs) in India has taken automobile companies by surprise.

March 01, 2013 09:13 (IST)

High-earning Indians gave a collective groan when Finance Minister P Chidambaram imposed a 10 per cent surcharge on their income in his Budget 2013 on Thursday.

February 28, 2013 22:12 (IST)

High-earning Indians gave a collective groan on Thursday when the government imposed a 10 per cent surcharge on their income, following a global trend.

New Delhi | February 28, 2013 21:57 (IST)

Many private economists expressed scepticism at the Finance Minister's rosy revenue assumptions and were dismayed by the sizeable increase in public spending in a country facing its sharpest economic downturn in a decade.

New Delhi | February 28, 2013 21:55 (IST)

Finance Minister P Chidambaram has doubled the disinvestment target for next fiscal to Rs 55,814 crore, from Rs 24,000 crore estimated in the current fiscal.

New Delhi | February 28, 2013 21:49 (IST)

To encourage investment in the infrastructure sector, some financial institutions have been allowed to raise about Rs 50,000 crore from tax-free bonds in 2013-14.

New Delhi | February 28, 2013 21:45 (IST)

Terming the 2013-14 Budget as 'responsible and reasonable', IT industry body Nasscom today said the thrust by government on clarifying taxation rules, balanced growth and technology adoption are encouraging steps.

New Delhi | February 28, 2013 21:41 (IST)

Keeping in view the fuel needs of the power sector, the government today said there was no other choice but to import coal and adopt a policy of blending the prices of domestic and imported coal.

New Delhi | February 28, 2013 21:31 (IST)

The government will reduce taxes levied on various transactions in the securities market, a move that will help in bringing down the overall cost for investors.

February 28, 2013 20:51 (IST)

Global rating agencies Standard & Poors and Fitch have both retained their ratings on India, saying the Budget 2013 has had no impact. While Fitch has assigned a 'BBB-' rating with a negative outlook, S&P has a negative rating.

New Delhi | February 28, 2013 20:26 (IST)

Prime Minister's Economic Advisory Council (PMEAC) chairman C Rangarajan today said all the measures proposed in the Budget for 2013-14 taken together will help the country register a growth of 6.5 per cent in the next fiscal year.

Mumbai | February 28, 2013 20:20 (IST)

The Budget for 2013-14 disappointed foreign investors on Thursday by failing to deliver a much anticipated cut in withholding taxes for debt investments and creating confusion with a proposal that appeared to target tax treaties.

New Delhi | February 28, 2013 20:13 (IST)

Watching cable and satellite TV may turn expensive with the government proposing to double import duty on set top boxes (STBs) to 10 per cent but domestic manufacturers have welcomed the move.

New Delhi | February 28, 2013 20:08 (IST)

Aiming to bring down the fiscal deficit, Finance Minister P Chidambaram today sought to reduce major subsidies on fuel, food and fertilisers by 11 per cent to over Rs 2.20 lakh crore in 2013-14 fiscal compared to the revised estimates for the current fiscal.

New Delhi | February 28, 2013 20:01 (IST)

Finance Minister P Chidambaram today announced a Rs 2,000 crore urban housing fund, while making luxury homes costlier by cutting abatement on service tax on a flat with a floor area of over 2,000 sq ft, or prices exceeding Rs 1 crore.

New Delhi | February 28, 2013 19:51 (IST)

Disappointed at not getting incentives like relief on excise duty front in Budget, bicycle manufacturers after the Budget announcement said they have no option but to raise prices by 4-5 per cent within next fortnight due to spiraling input cost.

New Delhi | February 28, 2013 19:51 (IST)

Aiming to "entice" a large number of assessees to return to the tax fold, the government today proposed a one-time scheme called 'Voluntary Compliance Encouragement Scheme' for service tax defaulters.