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).
New Delhi | February 28, 2013 16:21 (IST)
He said the standing committee on finance has submitted its report on the Bill and the government attaches great weight to its recommendations.
New Delhi | February 28, 2013 16:18 (IST)
Finance Minister P Chidambaram today proposed liberalising the Rajiv Gandhi Equity Savings Scheme to enable first time investors to park funds in MFs and listed shares and extended tax benefits to three successive years.
February 28, 2013 16:15 (IST)
Gold importers in India shied away from placing new deals as the weaker rupee post the Budget kept the downside in prices limited, though importers breathed a sigh of relief as the Finance Minister maintained a status quo on import duties.
New Delhi | February 28, 2013 16:14 (IST)
In a move to boost manufacturing of high tech electronic products in India, government on Thursday announced zero customs duty on equipment required for setting up semiconductor (electronic chips) plant in the country would be free from customs duty.
New Delhi | February 28, 2013 16:06 (IST)
"I believe there is a little bit of the spirit of Mr Azim Premji in every affluent tax payer," Mr Chidambaram said, referring to the chairman of Wipro, one of the richest men in the country and also known for his philanthropy.
New Delhi | February 28, 2013 15:56 (IST)
Finance Minister P Chidambaram on Thursday announced a sharp increase of Rs 1.25 lakh crore in agriculture credit target to Rs 7 lakh crore for next fiscal year and allocated additional Rs 10,000 crore in subsidy for implementing the Food Security Bill.
New Delhi | February 28, 2013 15:54 (IST)
The fiscal deficit for the current financial year has been contained at 5.2 per cent of GDP, lower than 5.3 per cent as was targeted, Finance Minister P Chidambaram said today.
February 28, 2013 15:50 (IST)
The government held its gold import duty unchanged in Thursday's budget, defying industry expectations that the world's biggest bullion buyer would increase rates to curb demand and rein in a record current account deficit (CAD).
New Delhi | February 28, 2013 15:46 (IST)
Hailing the Budget, Prime Minister Manmohan Singh said it would reverse the pessimistic mood and lay the roadmap for investments as he expressed confidence of returning to eight per cent growth within three years.
Mumbai | February 28, 2013 15:39 (IST)
A surprise hike in tax on SUVs in India risked hurting one of the only bright spots in the country's automotive market, sending industry shares falling on Thursday after a Budget that offered little help for the struggling industry.
New Delhi | February 28, 2013 15:28 (IST)
The government today approved construction of a power transmission link between Srinagar and Leh at an investment of Rs 1,840 crore.
New Delhi | February 28, 2013 15:25 (IST)
Total budget expenditure will rise by an unexpectedly high 16 percent in the fiscal year that begins on April 1 to Rs 16.65 trillion, but, Mr Chidambaram said, fiscal deficit for the current year will fall to 5.2 percent of gross domestic product, besting a revised target of 5.3 percent.
February 28, 2013 15:24 (IST)
Shares in public sector banks fell on concerns about liquidity in the banking system after the government set its target for gross market borrowing at Rs 6.29 trillion in 2013/14, above estimates of less than Rs 6 trillion.
New Delhi | February 28, 2013 14:56 (IST)
Finance Minister P Chidambaram on Thursday announced measures to encourage people to make productive investments in financial markets and housing, instead of just putting their money in gold.
New Delhi | February 28, 2013 14:41 (IST)
The country is all set to get an all-women bank by this year with the government announcing an initial capital of Rs 1,000 crore for the purpose. Announcing the Budget proposals for 2013-14, Finance Minister P Chidambaram said the bank is likely to be set by October this year.
February 28, 2013 14:17 (IST)
Walking a tight rope ahead of 2014 elections, Finance Minister P Chidambaram today offered minor sops to income-tax payers while slapping a 10 per cent surcharge on the 'super-rich'. Here are five points telling how the Budget will impact you:
New Delhi | February 28, 2013 14:09 (IST)
Giving small relief to tax payers, Finance Minister P Chidambaram today announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh.
New Delhi | February 28, 2013 13:46 (IST)
The government today said it will infuse Rs 14,000 crore in public sector banks next fiscal year to ensure that they meet the global capital adequacy norms.
February 28, 2013 13:04 (IST)
India must make tough spending choices, Finance Minister P. Chidambaram said on Thursday, even as he unveiled a bigger-than-expected outlay for the coming fiscal year in one of the most highly anticipated Indian budgets of recent years. Here is what experts said.