LIVE
Mon, 28 February 2011
Will the govt achieve fiscal targets?
Timeline Refresh
13:16
At 13:17 hours, the BSE Sensex zoomed 387 points at 18,088.25, a gain of 2.19 per cent. NSE Nift was up 98 points at 5,401.20, a gain of 1.84 per cent.
13:14
"For the year 2011-12 I have kept it (fiscal deficit) at 4.6 per cent of GDP which improve upon my own target of 2011-12 indicated in the fiscal roadmap presented in the last budget," Mukherjee said.
13:14
"During the course of 2010-11, I had the opportunity to bring in improvement in fiscal balance", he said.
13:13
"Due to the higher than anticipated non-tax revenue from 3 G spectrum auction... I have brought down the fiscal deficit from 5.5 per cent to 5.1 per cent of the GDP for 2010-11," Mukherjee said in his 2011-12 Budget speech.
13:13
Mukherjee said the revenues from 3G and Broadband Wireless Access (BWA) spectrum auction (that garnered Rs 1.08 lakh crore) has helped government reduce the fiscal deficit for the current fiscal, from 5.5 per cent estimated earlier.
13:13
Led by higher than expected non-tax revenue like auction of 3G spectrum, Finance Minister Pranab Mukherjee today pegged the fiscal deficit at 5.1 per cent for the current financial year, and further reduced the estimates to 4.6 per cent for 2011-12.
13:01
At 13:02 hours, The BSE Sensex is up 228 points at 17,928.94, a gain of 1.19 per cent. NSE Nifty is up 72 points at 5,375.35, a gain of 1.35 per cent.
12:59
Net revenue loss on account of direct taxes will be Rs 11,500 crore (Rs 115 billion).
Net revenue gain on account of indirect taxes will beRs 11,300 crore (Rs 113 billion).
Net revenue gain on account of indirect taxes will beRs 11,300 crore (Rs 113 billion).
12:56
Some legal services to be brought under service tax net.
Service by an individual to another individual exempted.
Service by an individual to another individual exempted.
12:53
DTC, GST to help moderate taxes says FM
12:52
Finance Minister Pranab Mukherjee today announced a slew of measures to boost investment in the
infrastructure sector with a view to propel the economy on an over 9 per cent growth trajectory in the coming years.
The measures include the issuance of tax-free bonds worth Rs 30,000 crore and extending income tax exemption on
tax-saving infrastructure bonds up to a maximum of Rs 20,000 for one more year.
infrastructure sector with a view to propel the economy on an over 9 per cent growth trajectory in the coming years.
The measures include the issuance of tax-free bonds worth Rs 30,000 crore and extending income tax exemption on
tax-saving infrastructure bonds up to a maximum of Rs 20,000 for one more year.
12:48
Servcie tax on hotel accommodatiobn above Rs 1500 per day
Domestic travel to pay Rs 50 service tax, Rs 250 on international travel
AC hospitals with more than 25 beds under service tax
Domestic travel to pay Rs 50 service tax, Rs 250 on international travel
AC hospitals with more than 25 beds under service tax
12:47
Life insurance services in area of investment now in service tax
No duty on import of equipment for Ultra Mega Power projects
Health check up services now attract service tax
No duty on import of equipment for Ultra Mega Power projects
Health check up services now attract service tax
12:46
Net revenue gain of Rs 7300 crore from excise, customs changes
Service tax to cover more areas - FM
Base rate on excise duty raised from 4% to 5 percent
Duty reduction on LEDs to promote adoption by more automakers
Focus on green vehicles: Duty reduced on hybrid & electric cars along with batteries imported for such vehicles
Service tax to cover more areas - FM
Base rate on excise duty raised from 4% to 5 percent
Duty reduction on LEDs to promote adoption by more automakers
Focus on green vehicles: Duty reduced on hybrid & electric cars along with batteries imported for such vehicles
12:45
Ship owners allowed duty free imports of spare parts
Excise tax on diapers and sanitary napkins reduced trom 10% to 1%
No excise duty on UMPP equipment
Excise tax on diapers and sanitary napkins reduced trom 10% to 1%
No excise duty on UMPP equipment
12:44
At 12:43 hrs, Sensex was up 220.79 points at 17,921.70, and NSE Nifty was up 53.15 points at 5,356.70.
12:43
No excise duty on UMPP equipment
Peak rate of customs duty maintained at 10 per cent in view ofthe global economic situation, the FM said.
Peak rate of customs duty maintained at 10 per cent in view ofthe global economic situation, the FM said.
12:41
Excise on LED cut to 5%
No change in CENVAT rates
Cut customs duty on petcoke, Gypsum by 2.5%
New category of very senior citizens for those above 80 years introduced, exemption limit Rs 5 lakh
Excise duty concession on imported films
No change in CENVAT rates
Cut customs duty on petcoke, Gypsum by 2.5%
New category of very senior citizens for those above 80 years introduced, exemption limit Rs 5 lakh
Excise duty concession on imported films
12:39
Excise duty on cement industry cut
Export duty on all iron ore raised to 20%
Cut in import duties of raw material for mobile phones
Export duty on all iron ore raised to 20%
Cut in import duties of raw material for mobile phones
12:39
20% export duty on iron ore
Stainless steel exempted from excise customs duty
Customs duty on yarn cut to 5%
Customs duty on raw steel cut
Stainless steel exempted from excise customs duty
Customs duty on yarn cut to 5%
Customs duty on raw steel cut
12:38
10% excise duty on branded garments
Basic food, fuel exempted from central excise duty
To cut customs duty on raw steelAC, cold chain equipment exempted from excise duty
Basic food, fuel exempted from central excise duty
To cut customs duty on raw steelAC, cold chain equipment exempted from excise duty
12:37
At 12:37 hrs, Sensex was up 252.52 points at 17,953.43, and NSE Nifty was up 39.40 points at 5,342.95.
12:34
Base rate on excise duty raised to 5% from 4%
12:33
Net tax to Centre will be Rs 6,64,457 cr. Non-tax receipts pegged at Rs 1,25,435 cr.
12:32
Tax sops of Rs 20,000 on infra bonds extended by a year
1% excise duty on 130 new items
1% excise duty on 130 new items
12:30
Standard rate of Central Excise retained at 10%
Service tax retained at 10%
Direct tax sops to result in revenue loss of Rs11,500 cr
Foreign unit dividend tax rate cut to 15% for Indian firms
Rs 5 lakh tax exemption limit for individuals above 80 years of age
Surcharge on domestic firms cut to 5% from 7.5%.
Service tax retained at 10%
Direct tax sops to result in revenue loss of Rs11,500 cr
Foreign unit dividend tax rate cut to 15% for Indian firms
Rs 5 lakh tax exemption limit for individuals above 80 years of age
Surcharge on domestic firms cut to 5% from 7.5%.
12:29
At 12:29 hrs, Sensex was up 73.46 points at 17,774.37, and NSE Nifty was up 42.05 points at 5,345.60.
12:28
There is a need to define the nature of public expenditure: FM
Foreign unit dividend tax rate cut to 15 percent for Indian companies
FY11 Fiscal Deficit at 5.1%, FY12 deficit seen at 4.6%
Revenue deficit is estimated at 3.4%
Plan expenditure at Rs 4.14 lakh crore
Gross Tax Receipts at Rs 9.32 lakh crore, up 25%
Age reduced for BPL pension eligibility
Foreign unit dividend tax rate cut to 15 percent for Indian companies
FY11 Fiscal Deficit at 5.1%, FY12 deficit seen at 4.6%
Revenue deficit is estimated at 3.4%
Plan expenditure at Rs 4.14 lakh crore
Gross Tax Receipts at Rs 9.32 lakh crore, up 25%
Age reduced for BPL pension eligibility
12:27
Special Economic Zones to come under MAT
Fiscal defeicit numbers for FY12 a positive, says Uday Kotak
Fiscal defeicit numbers for FY12 a positive, says Uday Kotak
12:25
At 12:22 hrs, Sensex was up 139.68 points at 17,840.59, and NSE Nifty was up 18.05 points at 5,321.60.
12:25
MAT raised to 18.5% of book profits
Reduce surcharge of 7.5 percent for domestic companies to 5 percent
Age for being classified as senior citizen cut to 60 years from 65 years
Reduce surcharge of 7.5 percent for domestic companies to 5 percent
Age for being classified as senior citizen cut to 60 years from 65 years
12:24
Tax limit raised from Rs 160,000 to Rs 180,000
For senior citizens, tax exemption limit increased to Rs2.5 lakh
For senior citizens, tax exemption limit increased to Rs2.5 lakh
12:20
Services sector growth pegged at 9.3%
Non-tax revenue Rs 1,25000 crore
IMPACT: Nothing new in govt's black money initiatives says Swami
Non-tax revenue Rs 1,25000 crore
IMPACT: Nothing new in govt's black money initiatives says Swami
12:18
At 12:17 hrs, Sensex was up 66 points at 17,767.16 , and NSE Nifty was up 20.75 points at 5,324.30
12:18
Info exchange treaties signed with 13 tax havens
Overall defence allocation pegged at Rs 1.64 lakh cr Rs 3,000 crore to states to modernise their stamp and registraion procedures
Amend the Indian Stamp Act
Allocation to Justice Dept up three times to Rs 3,000 cr
Tax procedures for small businesses to be simplified
Overall defence allocation pegged at Rs 1.64 lakh cr Rs 3,000 crore to states to modernise their stamp and registraion procedures
Amend the Indian Stamp Act
Allocation to Justice Dept up three times to Rs 3,000 cr
Tax procedures for small businesses to be simplified
12:17
GoM to be formed to tackle corruption
CBDT to provide special web facility for salaried persons
Allocation to Justice Dept up three times to Rs 3,000 cr
FY 12 defence capex pegged at Rs 69,199 crore
CBDT to provide special web facility for salaried persons
Allocation to Justice Dept up three times to Rs 3,000 cr
FY 12 defence capex pegged at Rs 69,199 crore
12:12
Workers in hazardous industries, such as mining and slate, will get health benefitsRs 5,000 crore to be provided to National Skill Dev Council
Rs 10-crore grant for Delhi School of Economics
Rs 200 cr for Maulana Azad Education Foundation
Rs 200 cr as one-time grant to IIT-KGP
To allocate Rs 58,000 cr to Bharat Nirman projects
Rs 10-crore grant for Delhi School of Economics
Rs 200 cr for Maulana Azad Education Foundation
Rs 200 cr as one-time grant to IIT-KGP
To allocate Rs 58,000 cr to Bharat Nirman projects
12:10
Banks to cover 20,000 villages for opening accounts in FY12
Pay of anganwadi workers up from Rs 1,500 to Rs 3,000/month
Allocation of Rs 21,000 crore for the literacy mission
For backward regions, allocation increased by 35% about Rs9,000 crore
Pay of anganwadi workers up from Rs 1,500 to Rs 3,000/month
Allocation of Rs 21,000 crore for the literacy mission
For backward regions, allocation increased by 35% about Rs9,000 crore
12:09
Assistance to N-E states will be doubled
To provide Rs 200 cr for clean up of lakes
Rs 200 core for launching environmental programmes
Pension amount to 80 yrs and above increased from Rs 200 to Rs 500
Rs 52,057 cr for education sector
To provide Rs 200 cr for clean up of lakes
Rs 200 core for launching environmental programmes
Pension amount to 80 yrs and above increased from Rs 200 to Rs 500
Rs 52,057 cr for education sector
12:08
For backward regions, allocation increased by 35% about Rs 9,000 crore
Anganwadi teachers' salaries hiked 100%
100% salary hike for Anganwadi teachers
Rs 8,000 cr for developement of J&K
Anganwadi teachers' salaries hiked 100%
100% salary hike for Anganwadi teachers
Rs 8,000 cr for developement of J&K
12:06
The government on Monday said low-cost housing loans of Rs 15 lakh (Rs 1.5 million) will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
In his Budget speech, Finance Minister Pranab Mukherjee said he is liberalising the existing scheme of one per cent interest subvention on housing loans up to Rs 15 lakh, where the cost of house does not exceed Rs 25 lakh (Rs 2.5 million).
The existing interest subsidy is on loans of Rs 10 lakh (Rs 1 million) where the cost of house is Rs 20 lakh (Rs 2 million).
"To further stimulate the growth in housing sector, I am liberalising the existing scheme of interest subvention on 1 per cent on housing loans by extending housing loan up to Rs 15 lakh where the cost of the house does not exceed Rs 25 lakh, from the present limit of Rs 10 lakh and 20 lakh respectively," Mukherjee said.
In his Budget speech, Finance Minister Pranab Mukherjee said he is liberalising the existing scheme of one per cent interest subvention on housing loans up to Rs 15 lakh, where the cost of house does not exceed Rs 25 lakh (Rs 2.5 million).
The existing interest subsidy is on loans of Rs 10 lakh (Rs 1 million) where the cost of house is Rs 20 lakh (Rs 2 million).
"To further stimulate the growth in housing sector, I am liberalising the existing scheme of interest subvention on 1 per cent on housing loans by extending housing loan up to Rs 15 lakh where the cost of the house does not exceed Rs 25 lakh, from the present limit of Rs 10 lakh and 20 lakh respectively," Mukherjee said.
12:03
At 12:04 hrs, Sensex was up 174.98 points at 17,939.75 , and NSE Nifty was up 72.35 points at 5,375.90.
12:02
SC/ST scholarship scheme will benefit about 40 lakh students
Scholarships to SC/ST students in Class IX and X
Social projects spending outlay up 17% to Rs 1.6 lakh crore
Vocational schemes to be introduced for the employment of the youth
Scholarships to SC/ST students in Class IX and X
Social projects spending outlay up 17% to Rs 1.6 lakh crore
Vocational schemes to be introduced for the employment of the youth
11:59
Interest rates on agricutlure loans reduced.
WHAT IT MEANS: The government is wooing the farmers' community in this populist move.
IMPACT: Tax free bonds good for IRB INfra, ITNL, says ICICI Direct
WHAT IT MEANS: The government is wooing the farmers' community in this populist move.
IMPACT: Tax free bonds good for IRB INfra, ITNL, says ICICI Direct
11:58
Vocational schemes to be introduced for the employment of the youth 24% increase in educational provisions
Propose to Increase the Budget group for Primitive tribal group
To promote organic farming to help farmers boost output from their land
Food security bill to be introduced this year
Propose to Increase the Budget group for Primitive tribal group
To promote organic farming to help farmers boost output from their land
Food security bill to be introduced this year
11:58
To allocate Rs 58,000 cr to Bharat Nirman projects
SC/ST scholarship scheme will benefit about 40 lakh students
Scholarships to SC/ST students in Class IX and X
Social projects spending outlay up 17% to Rs 1.6 lakh crore
SC/ST scholarship scheme will benefit about 40 lakh students
Scholarships to SC/ST students in Class IX and X
Social projects spending outlay up 17% to Rs 1.6 lakh crore
11:56
At 11:48 hrs, Sensex was up 238.84 points at 17,939.75 , and NSE Nifty was up 75.90 points at 5,379.45.
11:55
Self Assessment in customs to be intoduced
Money laundering cases to be dealt effectively
Task force will be formed to deal with black money
To propose National Mission for Hybrid Electric Vehicle
Money laundering cases to be dealt effectively
Task force will be formed to deal with black money
To propose National Mission for Hybrid Electric Vehicle
11:54
Black money: govt will start campaign against illicit funds
To create infra debt funds
To allow Rs 30K crore tax free bonds for railways, NHAI
Process of sevice tax refunds will be simplified soon
To create infra debt funds
To allow Rs 30K crore tax free bonds for railways, NHAI
Process of sevice tax refunds will be simplified soon
11:53
Anganwadi workers to get Rs 1,500 instead of Rs 750 now.
Rural broadband connectivity to be provided in 3 yearsAllocation under
Rashtriya Krishi Yojana raised
Hunger and malnutrition: Food security bill will be introduced this year
Comprehensive national policy to control the trafficking of narcotic drugs
Rural broadband connectivity to be provided in 3 yearsAllocation under
Rashtriya Krishi Yojana raised
Hunger and malnutrition: Food security bill will be introduced this year
Comprehensive national policy to control the trafficking of narcotic drugs
11:48
The stock market benchmark Sensex has surged by over 277 points mid-way through Finance Minister Pranab Mukherjee's Budget presentation, in which he proposed to keep up the tempo of the disinvestment process and contain inflation to boost the economy.
11:47
At 11:48 hrs, Sensex was up 240.93 points at 17,941.84 , and NSE Nifty was up 78.35 points at 5,381.90
11:46
Metro projects in key cities will get financial assistance
Farm credit flow raised to Rs 4.75 lakh crore
GoM will consider issues related to environmental conflicts
To give infra status to cold storage chains
Priority home loan limit raised to Rs 25 lakh from Rs 20 lakh
Farm credit flow raised to Rs 4.75 lakh crore
GoM will consider issues related to environmental conflicts
To give infra status to cold storage chains
Priority home loan limit raised to Rs 25 lakh from Rs 20 lakh
11:45
Tax-free bonds worth Rs 30,000 cr proposed to boost infrastructure
To attract foreign funds: Special vehicle to be created
Boost to infra dev: Tax free bonds of Rs 30,000 crore to be introduced
Allocation for farm development raised to Rs 7,860 cr
To attract foreign funds: Special vehicle to be created
Boost to infra dev: Tax free bonds of Rs 30,000 crore to be introduced
Allocation for farm development raised to Rs 7,860 cr
11:44
Storage capacity has been fastracked
15 Mega Food parks to be set upSubvention of 3% to farmers paying loans
before time
Allocation for farm development increased to Rs 7,860 crShort term interest to farmers will continue to be at 7%
15 Mega Food parks to be set upSubvention of 3% to farmers paying loans
before time
Allocation for farm development increased to Rs 7,860 crShort term interest to farmers will continue to be at 7%
11:39
At 1139, the Sensex has pared some gains and is now up 187 points at 17,887.58, a gain of 1.05 per cent.
The NSE Nifty is up 60 points at 5,364, a gain of 1.14 per cent.
The NSE Nifty is up 60 points at 5,364, a gain of 1.14 per cent.
11:36
Agricultural credit limit raised to Rs 4,75,000 crore
Chambal Fert up 3%, Nagarjuna Fert us 1%, Coromandel gains 4.57%
Allocation for farm development increased to Rs 7,860 cr
Rs 300 crore for allocation of fodder
New companies bill to be introducedRs 100 cr equity fund for MFIs
Chambal Fert up 3%, Nagarjuna Fert us 1%, Coromandel gains 4.57%
Allocation for farm development increased to Rs 7,860 cr
Rs 300 crore for allocation of fodder
New companies bill to be introducedRs 100 cr equity fund for MFIs
11:34
Rural housing fund increased by Rs 1,000 cr to Rs 3,000 cr
Rs 3,000 crore earmarked to NABARD for handloom weavers
Rs 3,000 crore earmarked to NABARD for handloom weavers
11:34
PROPOSAL: FY12 Divestment target at Rs 40,000 crore.
WHAT IT MEANS: The Left may think this will mean selling of more family silver as the proposal directly says that the government will sell some of its stake in more public sector units, thus generating funds that can be utilised for infrastructure development, welfare schemes, etc.
WHAT IT MEANS: The Left may think this will mean selling of more family silver as the proposal directly says that the government will sell some of its stake in more public sector units, thus generating funds that can be utilised for infrastructure development, welfare schemes, etc.
11:33
Interest subvention of 1% extended from Rs 5 lakh crore to Rs 20 lakh crore
1% interest subvention on home loans upto Rs 15 lakh
Removal of bottlenecks in the transporation of essential food items
New companies bill to be inroduced in this session
Earmarks Rs 2,000 cr each for warehousing and manufacturing
More banking licenses to be given
To allocate Rs 6,000 cr for some PSU banks to help them maintain Tier-I capital at 8%
To prevent fraud in loan cases: govt has set up Central Electronic Registry
1% interest subvention on home loans upto Rs 15 lakh
Removal of bottlenecks in the transporation of essential food items
New companies bill to be inroduced in this session
Earmarks Rs 2,000 cr each for warehousing and manufacturing
More banking licenses to be given
To allocate Rs 6,000 cr for some PSU banks to help them maintain Tier-I capital at 8%
To prevent fraud in loan cases: govt has set up Central Electronic Registry
11:29
Significant progess on the GST network has been made
Work is underway for states' GST
High gap between wholesale and retail prices unacceptable
Work is underway for states' GST
High gap between wholesale and retail prices unacceptable
11:28
FY12 Divestment target at Rs 40,000 crore
FDI regulations consolidated into one comprehensive document
States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
FDI regulations consolidated into one comprehensive document
States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
11:28
PROPOSAL: FII limit in corporate bonds has been raised by $20 billion.
WHAT IT MEANS: Now FIIs will be able to invest more in corporate bonds providing a boost to not only foreign investment but also help Indian firms to raise more funds.
WHAT IT MEANS: Now FIIs will be able to invest more in corporate bonds providing a boost to not only foreign investment but also help Indian firms to raise more funds.
11:27
PROPOSAL: FIIs allowed to invest in MF schemes.
WHAT IT MEANS: This is a major boost to the capital markets. The Sensex has already shot up by 266 points to 17,967.
WHAT IT MEANS: This is a major boost to the capital markets. The Sensex has already shot up by 266 points to 17,967.
11:25
Self-help group fund to empower women
Task force working on oil subsidy plans
Rs 600 cr to public sector banks to maintain mandatory CRR
Liberalisation of FDI policy
Govt committed to retain 51% holding in PSUs
FII allowed to invest in MF schemes
FII limit in corporate bonds has been raised by $20 billion
Task force working on oil subsidy plans
Rs 600 cr to public sector banks to maintain mandatory CRR
Liberalisation of FDI policy
Govt committed to retain 51% holding in PSUs
FII allowed to invest in MF schemes
FII limit in corporate bonds has been raised by $20 billion
11:23
At 11:23 hours, the BSE Sensex was up 254 points at 17,954.76, a gain of 1.43 per cent, and NSE Nifty was up 80 points at 5,383.45, a gain of 1.51 per cent.
11:21
GST bill in current session
Availablity of fertilisers have improved
Preparations for GST rollout in final stages
Laying down fiscal consolidation map for next five years
Pilot portal to be set up before the roll out of GST in the country
Availablity of fertilisers have improved
Preparations for GST rollout in final stages
Laying down fiscal consolidation map for next five years
Pilot portal to be set up before the roll out of GST in the country
11:21
Auto stocks, led by two-wheeler giant Hero Honda, fell by nearly 4 per cent on the Bombay Stock Exchange today ahead of the Union Budget 2011-12. Shares of Hero Honda fell by 3.7 per cent to an early low of Rs 1,444.20 on the BSE, thus becoming the top loser among the Sensex bluechip firms.
Defying the broader market trend, auto stocks were trading weak in the early part of the session.
Tata Motors was another laggard, shedding 3.35 per cent to a low of Rs 1,068. According to market players, the sector is expecting an excise duty hike of up to 2 per cent in this Budget.
The hike in excise duty will be passed on to consumers, they said. Bajaj Auto, Maruti Suzuki and Mahindra & Mahindra (M&M) were also reeling under pressure.
Profit-booking dragged Bajaj Auto's shares down by 1.93 per cent, while the country's largest car-maker Maruti Suzuki slipped by 1.08 per cent and M&M by 1.68 per cent.
Auto stocks also declined on fuel price hike worries, besides concerns that the government may rollback the fiscal stimulus by hiking excise duty in the Budget, an analyst added.
Defying the broader market trend, auto stocks were trading weak in the early part of the session.
Tata Motors was another laggard, shedding 3.35 per cent to a low of Rs 1,068. According to market players, the sector is expecting an excise duty hike of up to 2 per cent in this Budget.
The hike in excise duty will be passed on to consumers, they said. Bajaj Auto, Maruti Suzuki and Mahindra & Mahindra (M&M) were also reeling under pressure.
Profit-booking dragged Bajaj Auto's shares down by 1.93 per cent, while the country's largest car-maker Maruti Suzuki slipped by 1.08 per cent and M&M by 1.68 per cent.
Auto stocks also declined on fuel price hike worries, besides concerns that the government may rollback the fiscal stimulus by hiking excise duty in the Budget, an analyst added.
11:20
Mulling nutrient based subsidy policy for urea
LPG, kerosene and fertilisers will be transferred directly to BPL beneficiaries
The economy has shown remarkable resilience
To introduce Public Debt Management Bill in 2012
Direct transfer of subsidy to BPL families
LPG, kerosene and fertilisers will be transferred directly to BPL beneficiaries
The economy has shown remarkable resilience
To introduce Public Debt Management Bill in 2012
Direct transfer of subsidy to BPL families
11:17
DTC will moderate rates and ensure better compliance
Next Budget will be more transparent
Introduction of DTC, GST remain a watershed
DTC comes in force in April 2012
Exports up 9.4% in 2010-11
Next Budget will be more transparent
Introduction of DTC, GST remain a watershed
DTC comes in force in April 2012
Exports up 9.4% in 2010-11
11:16
At 11:13 hrs, Sensex was up 147 points at 17,848, and NSE Nifty was up 46 points at 5,349.
11:15
Current account deficit poses a concern
13th Finance Commission has worked out fiscal consolidation roapmap
Agriculture growth at 5.4%, industry at 8.1% in 2010-11
Expect the average inflation to be down next year
13th Finance Commission has worked out fiscal consolidation roapmap
Agriculture growth at 5.4%, industry at 8.1% in 2010-11
Expect the average inflation to be down next year
11:12
At 11:13 hrs, Sensex was up 128 points at 17,829, and NSE Nifty was up 41 points at 5,345.
11:11
Expect the average inflation to be down next year
Indian economy is expected to grow at 9%
Development of external sector has been encouraging
Cutting bureaucratic delays, improving response times
Taxes, tariff procudures will be simplified
To reconcile environment concerns, growth needs
At 11:08 hrs, Sensex was up 141 points at 17,842, and NSE Nifty was up 44 points at 5,348.
Indian economy is expected to grow at 9%
Development of external sector has been encouraging
Cutting bureaucratic delays, improving response times
Taxes, tariff procudures will be simplified
To reconcile environment concerns, growth needs
At 11:08 hrs, Sensex was up 141 points at 17,842, and NSE Nifty was up 44 points at 5,348.
11:07
Need to improve agricultural demand
Food inflation at 20.2% in Feb
Corruption is a problem and we have to fight collectively
FY11 Fiscal consolidation impressive
Stronger fiscal consolidation needed
Resources are not a contrain
Much needs to be done for the rural India
FY11 fiscal consolidation impressive
Services sector continues to grow in double digits
Reaching the end of a remarkable financial year
Food inflation at 20.2% in Feb
Corruption is a problem and we have to fight collectively
FY11 Fiscal consolidation impressive
Stronger fiscal consolidation needed
Resources are not a contrain
Much needs to be done for the rural India
FY11 fiscal consolidation impressive
Services sector continues to grow in double digits
Reaching the end of a remarkable financial year
11:04
The Indian rupee was up by 12 paise to 45.20 against the US dollar in early trade on persistent dollar-selling by exporters amid a rise in the equity market. At the Interbank Foreign Exchange, the domestic unit opened higher at 45.30/31 a dollar as against last weekend's close of 45.32/33 per dollar and shot up further to 45.20 per dollar before quoting at 45.26/27 per dollar at 1030 hours. It moved in a range between 45.20 and 45.35 per dollar during morning deals.
At 11:04 hrs, Sensex was up 138 points at 17,839, and NSE Nifty was up 43 points at 5,346.
At 11:04 hrs, Sensex was up 138 points at 17,839, and NSE Nifty was up 43 points at 5,346.
11:03
Finance Minister said:
FY11 fiscal consolidation impressive
Servics sector continues to grow in double digits
Reaching the end of a remarkable financial year
Reaching the end of a remarkable fiscal era
FY11 fiscal consolidation impressive
Servics sector continues to grow in double digits
Reaching the end of a remarkable financial year
Reaching the end of a remarkable fiscal era
11:02
At the start of the speech, Sensex up 152 points, Nifty up 48 points.
Inflation remains a concern, says the finance minister.
Inflation remains a concern, says the finance minister.
10:57
Cement stocks like ACC and Ambuja Cements could see a decline of 2-2.5% if the Budget is disappointing.In the Budget, focus will be on infrastructure space and I would be positive on largecap infra and capital goods IDFC, RCapital, ONGC, HDFC up.
The government is likely to increase subsidies, a populist move that hurts public finances but promises political dividends for a ruling coalition trying to cool disquiet over high inflation.
Though the govt is moving away from its partly socialised economy after embracing free market reforms in the 1990s, removing subsidies has always been a tough call as they protect millions of poor voters who determine who governs.
The government is likely to increase subsidies, a populist move that hurts public finances but promises political dividends for a ruling coalition trying to cool disquiet over high inflation.
Though the govt is moving away from its partly socialised economy after embracing free market reforms in the 1990s, removing subsidies has always been a tough call as they protect millions of poor voters who determine who governs.
10:50
The finance minister's legacy will be determined by this year's Union budget. That is the challenge before Mukherjee this morning. Will he be businesslike and present a good finance minister's budget, that markets and investors will hail, but historians will forget?
Or, will he rise above the din of Parliament and show the way forward, seeking not just a footnote, but a para, if not a chapter, in history books?
The embattled government faces the daunting task of appeasing voters weary of high inflation while trying to tame its fiscal deficit when it presents its Budget for the next fiscal year on Monday.
At 10:50 hrs, Sensex was up 128 points at 17,828.47, and NSE Nifty was up 39 points at 5,342.95.
Or, will he rise above the din of Parliament and show the way forward, seeking not just a footnote, but a para, if not a chapter, in history books?
The embattled government faces the daunting task of appeasing voters weary of high inflation while trying to tame its fiscal deficit when it presents its Budget for the next fiscal year on Monday.
At 10:50 hrs, Sensex was up 128 points at 17,828.47, and NSE Nifty was up 39 points at 5,342.95.
09:58
The BSE benchmark Sensex opened over 114 points higher in opening trade today on the back of increased buying by foreign funds and retail investors ahead of Budget 2011-2012, which is slated to be announced later in the day. The 30-share index of the Bombay Stock Exchange, which gained 68.50 points in the previous session, rose by another 114.07 points, or 0.64 per cent, to 17,814.98 in the first few minutes of trade today. Similarly, the wide-based National Stock Exchange Nifty index moved up by 33.40 points, or 0.62 per cent, to 5,336.95. Brokers said continued buying by funds and retail investors on expectations of an investor-friendly Budget for the year 2011-12 influenced the trading sentiment. Capital goods, PSU, oil and gas, banking, realty and consumer durables stocks were in keen demand, accounting for most of the gains on the Sensex. Meanwhile, Hong Kong's Hang Seng index was up by 0.39 per cent, while Japan's Nikkei index was down 0.22 per cent in early trade today.
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