Union Budget

February 28, 2013 19:30 (IST)

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.

New Delhi | February 28, 2013 19:09 (IST)

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.

Mumbai | February 28, 2013 18:59 (IST)

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.

New Delhi | February 28, 2013 18:42 (IST)

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.

New Delhi | February 28, 2013 18:41 (IST)

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.

Mumbai | February 28, 2013 18:22 (IST)

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.

New Delhi | February 28, 2013 18:21 (IST)

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.

February 28, 2013 18:08 (IST)

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.

New Delhi | February 28, 2013 18:03 (IST)

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).

February 28, 2013 17:44 (IST)

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.

February 28, 2013 17:42 (IST)

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:

February 28, 2013 17:24 (IST)

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.

Mumbai | February 28, 2013 17:18 (IST)

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).

February 28, 2013 17:11 (IST)

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.

February 28, 2013 17:00 (IST)

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

Patna | February 28, 2013 16:59 (IST)

Chief minister Nitish Kumar on Thursday hailed Finance Minister P Chidambaram for promising to revisit criteria for special category status and said that it was a 'victory in-principle' for Bihar in view of its consistent demand for grant of such a status.

February 28, 2013 16:43 (IST)

New tax proposals including 10 per cent surcharge on super rich and higher duties on mobiles, cigarettes and SUVs will help government garner Rs 18,000 crore in 201 3-14.

New Delhi | February 28, 2013 16:42 (IST)

The government on Thursday said it would set up a road regulatory authority in 2013-14 to address financial stress, construction risk and contract management in the road sector.

New Delhi | February 28, 2013 16:37 (IST)

The Budget, described at best as balanced and pragmatic, and at worst as disappointing and lacking substance, saw the markets slump to a three-month low.

February 28, 2013 16:27 (IST)

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).