Tag: Union Budget

New Delhi: The Union Budget 2018-19 presented in the Lok Sabha on Thursday proposed 15 per cent higher subsidies at Rs 2.64 lakh crore on food, fertilisers and petroleum products. The subsidy for the fiscal 2018-19 on food, petroleum and fertilisers is estimated at Rs 2,64,335.65 crore in the last full budget presented by Finance […]

New Delhi: In a bid to protect domestic smartphone manufacturers, Finance Minister Arun Jaitley on Thursday hiked customs duty on mobile phones to 20 per cent from 15 per cent — a move that will force foreign players to pass on the burden to consumers. “Customs duty on import of mobile phone parts will be […]

New Delhi: Finance Minister Arun Jaitley on Thursday did not provide any relief in the income tax rates for 2018-19, but increased the cess levied on it by 1 per cent to raise Rs 11,000 crore. “The government had made many positive changes in the personal income-tax rate applicable to individuals in the last three […]

New Delhi: Stressing on boosting the safety aspect of Railways and its carrying capacity, Finance Minister Arun Jaitley on Thursday announced the largest-ever allocation of Rs 1.48 lakh crore capital expenditure for the Indian Railways in 2018-19. “Railways capex for 2018-19 has been pegged at Rs 1,48,528 crore,” Jaitley said in his Budget speech. The […]

New Delhi: Terming it as the world’s largest government funded healthcare programme, Finance Minister Arun Jaitley on Thursday announced the National Health Protection Scheme under which Rs 5 lakh cover will be provided a year to 10 crore poor and vulnerable families in the country. “We are now launching a flagship national health protection scheme […]

New Delhi: A “major” initiative to boost research with a budget of Rs 1 lakh crore in four years, Eklayva Model boarding schools in tribal majority areas, and Prime Minister Fellowship for B.Techs, were the highlights in the education sector of the Budget proposals presented by Finance Minister Arun Jaitley on Thursday. “To set-up investment […]

New Delhi: In line with its promise of cutting Indian corporate tax in a phased manner, the government on Thursday announced that it would be reduced to 25 per cent from the coming fiscal for companies which had a turnover up to Rs 250 crore during 2016-17. Presenting Budget 2018-19 in the Lok Sabha, Finance […]

New Delhi: The last full Union Budget to be presented by Finance Minister Arun Jaitley in the forthcoming session of Parliament beginning on Monday will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime effected by implementing the Goods and Services Tax (GST) last year. The Budget, […]

New Delhi: Railways Minister Piyush Goyal on Tuesday said the Railways does not need huge funds in the next Union Budget as it will focus on monetizing its own assets. “Earlier, I had suggested that Railways in the coming days would not require huge money the way in it has been allotted in the last […]

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Wednesday said the Union Budget 2017-18 is “a mixed bag” and falls “short of expectations” on many issues as not much has been done to address the adverse impact of demonetisation. “People at large took the brunt of impact of demonetisation and I was expecting something spectacular for […]

New Delhi: BJP ally and Union minister Ram Vilas Paswan Friday dubbed the budget as the government’s “second surgical strike”, saying the first used bullets against the country’s external enemies while this will use ballots to decimate the ruling NDA’s rivals in the general election. “This is not budget but surgical strike. The first used […]

New Delhi: The Narendra Modi government sought to give a marked thrust to the rural sector in this year’s Union Budget, its last full-year budget before the 2019 Lok Sabha polls, with the central ministries getting an allocation of Rs 14.34 lakh crore for creation of livelihood and infrastructure in rural areas. The thrust, evidently […]

Bhubaneswar: Odisha has been allocated Rs 5,102 crore for development of Railways in the Union Budget for 2017-18 against the state’s demand of Rs 5,870 crore, East Coast Railways (ECoR) general manager Umesh Singh said. Stating that the allocation meets about 87 per cent of the state’s demand, Singh said, “We have passed with distinction.” […]

Bhubaneswar: FICCI affiliated Utkal Chamber of Commerce and Industry (UCCI) today said corporate India s expectations were not “fully met” though the overall Union Budget may benefit the rural economy. “On a scale of 1-10, UCCI will rate this Budget as 6,” said UCCI’s president Ramesh Mahapatra said. While, increased provisions for infrastructure, railways, roads […]

At Rs.246,727 crore ($40 billion), India's defence spend was Saturday hiked a modest 7.74 percent, with Finance minister Arun Jaitley declaring that “defence of every inch of our land is above everything else”