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    • Budget 2013: Set-top boxes to cost more, DTH operators unhappy

      Budget 2013: Set-top boxes to cost more, DTH operators unhappy

      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.

    • Budget 2013: Government pegs FY14 subsidy bill 11% lower than current fiscal

      Budget 2013: Government pegs FY14 subsidy bill 11% lower than current fiscal

      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.

    • Budget 2013 proposes urban housing fund; luxury homes to cost more

      Budget 2013 proposes urban housing fund; luxury homes to cost more

      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.

    • Budget 2013: Bicycle prices set to go up by 4-5 per cent, say manufacturers

      Budget 2013: Bicycle prices set to go up by 4-5 per cent, say manufacturers

      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.

    • Budget 2013: Government proposes compliance scheme for service tax defaulters

      Budget 2013: Government proposes compliance scheme for service tax defaulters

      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.

    • Budget 2013: Government to give more power to Sebi

      Budget 2013: Government to give more power to Sebi

      Promising greater powers to market regulator Securities and Exchange Board of India (Sebi) in its silver jubilee year, Finance Minister P Chidambaram today said a proposal is under consideration to amend the Sebi Act, which governs various activities concerning the capital markets.

    • Union Budget 2013: MSMEs non-tax benefits to continue for 3 years even after maturity

      Union Budget 2013: MSMEs non-tax benefits to continue for 3 years even after maturity

      To encourage Micro, Small and Medium Enterprises (MSME) sector, Finance Minister P Chidambaram today proposed continuing non-tax benefits to these units for three years even after they graduate to a higher category.

    • Budget not to impact Indian ratings, says Fitch

      Budget not to impact Indian ratings, says Fitch

      The Budget 2013-14 will not impact India's sovereign ratings, although the country could find it challenging to meet its fiscal deficit target of 4.8 per cent for the next fiscal year, said Fitch Ratings sovereign analyst Art Woo.

    • Budget 2013: Government to follow global practices to define foreign investments

      Budget 2013: Government to follow global practices to define foreign investments

      Seeking to end ambiguity, the government on Thursday proposed to follow the international practice with regard to defining foreign direct investment and foreign institutional investors.

    • Budget 2013: Home Ministry gets Rs 59,241 crore

      Budget 2013: Home Ministry gets Rs 59,241 crore

      The Home Ministry today got Rs 59,241 crore in the General Budget, an 18 per cent increase over last year, with an emphasis on providing new residential quarters and barracks for central armed police forces personnel.

    • Budget 2013 paves way for lowering twin deficits, says RBI

      Budget 2013 paves way for lowering twin deficits, says RBI

      The Reserve Bank of India (RBI) on Thursday welcomed the Budget, saying it has laid the foundation for lowering fiscal and current account deficits, apart from supporting both domestic and foreign investments.

    • Budget 2013: Big push to infra with Rs 50,000 crore tax-free bonds, two new ports

      Budget 2013: Big push to infra with Rs 50,000 crore tax-free bonds, two new ports

      Infrastructure got a major thrust in Budget 2013-14 with Finance Minister P Chidambaram today announcing a slew of measures to boost sector's growth, like raising Rs 50,000 crore through tax-free bonds, setting up of major ports and a road regulator.

    • Budget 2013: Rs 5,000 crore plan outlay for Air India

      Budget 2013: Rs 5,000 crore plan outlay for Air India

      Duty concessions on import of spare parts and testing equipment for aircraft MRO industry were granted in the Union budget today, as the government proposed to provide a plan outlay of Rs 5,000 crore in Air India in the next financial year.

    • Budget 2013: Tax deduction benefit for CGHS extended

      Budget 2013: Tax deduction benefit for CGHS extended

      Finance Minister P Chidambaram on Thursday proposed to extend the benefit of tax deduction to health schemes offered by the Centre and the states similar to the central government health scheme (CGHS).

    • Budget 2013 will not impact India's sovereign ratings, says S&P

      Budget 2013 will not impact India's sovereign ratings, says S&P

      Standard & Poor's said on Thursday India's budget for the 2013-14 fiscal year would have no impact on the country's sovereign credit ratings, warning there was potential for the government to exceed its budgeted spending.

    • India's sovereign ratings to be unaffected by Budget 2013, says S&P: Full text

      India's sovereign ratings to be unaffected by Budget 2013, says S&P: Full text

      The Union Budget will not have any impact on India's sovereign rating, credit ratings agency Standard & Poor's said on Thursday. The agency had earlier cautioned that India could be the first country among the BRIC (Brazil, Russia, India and China) group to lose its investment grade rating of BBB -. Here is the full text of the release:

    • Budget 2013: Chidambaram wins applause from members by invoking poets, scholars in speech

      Budget 2013: Chidambaram wins applause from members by invoking poets, scholars in speech

      Finance Minister P Chidambaram's low-key budget presentation won applause from members as he seasoned it with a fair sprinkling of quotations from poets and scholars, and highlighted sensitive issues that struck a chord with even those seated on the opposition benches.

    • Budget 2013: Proposed commodities transaction tax to hit MCX volumes

      Budget 2013: Proposed commodities transaction tax to hit MCX volumes

      The government on Thursday proposed imposing a transaction tax on futures contracts of non-agricultural commodities like gold, silver and base metals -- a move that could pull down the turnover of commodity exchanges, and mainly that of market leader Multi Commodity Exchange (MCX).

    • Budget 2013: Infrastructure gets a boost with Rs 50,000 crore tax-free bonds

      Budget 2013: Infrastructure gets a boost with Rs 50,000 crore tax-free bonds

      Infrastructure got a major thrust in Budget 2013-14 with Finance Minister P Chidambaram today announcing a slew of measures to boost sector's growth, like raising Rs 50,000 crore through tax-free bonds, setting up of major ports and a road regulator.

    • Budget 2013: 18 paise out of each rupee will go for interest payment in FY14

      Budget 2013: 18 paise out of each rupee will go for interest payment in FY14

      For every rupee the government proposes to spend in 2013-14, as much as 18 paise will go for paying interests.

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