16:51
Another set of decisions and measures will be announced in reply to Budget discussion and Finance Bill in Parliament:FM. #Discuss-Budget-2013 We have not come up with any burden on people or spooked market or investors: FM. #Discuss-Budget-2013Main thrust of Budget is that we are following a...
16:10
India Inc today gave a thumbs-up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a bold and growth-oriented Budget.Hailing the announcements, industry chamber CII said the Budget focuses on growth and attracting more...
15:18
At 1319 hours, BSE down 301 points at 18,851.37, and NSE is down 103 points at 5,693.85.
15:07
Sensex down over 300 points.
14:45
Pantaloon Retail (India) Ltd. has fallen on NSE by more then 14 per cent.
14:42
At 2:40 in the afternoon, on NSE, Anil Ambani Group stocks (ADAG) have fallen by more then 7 per cent on the bourse
14:42
At 1443 hours, BSE is down 165 points to 18,987.19, while NSE is down 59 points at 5,737.45.Budget is quite conservative, says Raghuram Rajan
14:05
S Gopalakrishnan, president designate, CII and chairman of India @ 75 said that he was particularly upbeat about the proposed investments in SMEs.Ajay S Shriram, the vice president of CII, said that the proposals in the Union Budget like allocation of funds to social schemes, as well as...
14:04
At 1402 hours, the Sensex is down 164 points at 18,988.56 and the Nifty down 52 points at 5,749.55
13:51
Adi Godrej, president, Confederation of Indian Industry, added that that there are several good proposals such as investments in technical inputs in agriculture, and investments in science and space. He further said that the step to convert GAAR provisions into law is most welcome.
13:44
At 1342 hours, the Sensex is down 148 points at 19,004.37 and the Nifty down 55 points at 5,742.10.
13:34
At 1332 hours, the Sensex is down 160 points at 18,992.64 and the Nifty down 54 points at 5,742.70.
13:33
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 500,000.The proposal, he said, will benefit 1.8 crore tax payers entailing a revenue sacrifice of Rs 3,600 crore.The other slabs and rates have been kept...
13:23
At 1322 hours, the Sensex is down 39 points at 19,118.32 and the Nifty down 13 points at 5,783.90
13:21
Finance Minister has done a commendable job given the challenges faced by the economy, said Prime Minister Manmohan Singh.
13:14
At 1312 hours, the Sensex is up 48 points at 19,200.05 and the Nifty up 11 points at 5,807.95.
13:13
Finance Minister P Chidambaram today presented his eighth annual budget in Parliament, the second highest by anyone in the country after a record ten by former Prime Minister Morarji Desai.Overall, it was 82nd Union Budget in the Indian history, including interim and special-situation budgetary...
13:06
Committment To Fiscal Prudence Positive For Economy: C Rangarajan. #Discuss-Budget-2013
13:04
Plan expenditure pegged at Rs 555,322 crore. #Discuss-Budget-2013Non plan expenditure pegged at Rs 11,09,975 crore for 2013-14. #Discuss-Budget-2013 Contributions made to central and state government health scheme eligible to tax benefit. #Discuss-Budget-2013Eligibility conditions for life...
12:59
Low interest rate funds to be provided from Clean Energy Fund for green projects for a period of five years, says FM. #Discuss-Budget-2013Generation based incentives to wind energy projects reintroduced, Rs 800 crore provided for the purpose toMinistry of New & Renewable Energy....
12:51
At 1250 hours, the Sensex is down 49 points at 19,103.38 and the Nifty down 19 points at 5,778.30
12:48
Custom duty on imported motor vehicles hiked: FM #Discuss-Budget-2013To up import duty on set-top boxes to 10% from 5%: FM #Discuss-Budget-2013Average annual growth rate of agriculture and allied services estimated at 3.6 per cent in 2012-13 when 250 MTfoodgrains was produced: FM....
12:45
To reduce abatement rates for luxury apartments: FM #Discuss-Budget-2013To include 2 services in negative list of service tax: FM #Discuss-Budget-2013To exempt vocational courses, testing services from Service Tax: FM #Discuss-Budget-2013SED on cigarettes hiked by 18%: FM...
12:42
At 1240 hours, the Sensex is down 59 points at 19,093.74 and the Nifty down 16 points at 5,781.10. #Discuss-Budget-2013
12:41
STT reduced from 0.17% to 0.1%: FM #Discuss-Budget-2013Agri commodities to be exempt from CTT: FM #Discuss-Budget-2013To introduce CTT on non agri futures contracts at 0.1%: FM #Discuss-Budget-2013To reduce STT on equity futures, MF units: FM #Discuss-Budget-2013TDS at 1% of land deals over `50...
12:34
Comprehensive social security package being evolved by convergence of several schemes run by various ministries, saysFM. #Discuss-Budget-2013Investor with stake of 10 per cent or less will be treated as FII; any stake more than 10 per cent will be treated as FDI. #Discuss-Budget-2013 FIIs will be...
12:32
At 1230 hours, the Sensex is down 48 points at 19,104.14 and the Nifty down 24 points at 5,773.00. #Discuss-Budget-2013
12:31
National Housing Bank (NHB) to set up urban housing bank fund and Rs 2,000 crore will be allocated in this regard, saysFM. #Discuss-Budget-2013 KYC in banks sufficient for acquiring insurance policy. #Discuss-Budget-2013Public sector general insurance companies to set up adalts to clear disputes...
12:28
DDT surcharge raised to 10% from 5%: FM #Discuss-Budget-2013Tax holiday for power plants extended to March 2014: FM #Discuss-Budget-2013
12:26
To continue with education cess at 3%: FM #Discuss-Budget-201310% surcharge on companies with income over `10 cr: FM #Discuss-Budget-2013
12:24
Additional surcharge on taxes only for 1 year: FM #Discuss-Budget-2013Super rich tax: 10% surcharge on income above Rs 1 cr: FM #Discuss-Budget-2013
12:24
Tax credit of Rs 2,000 for income up to Rs 5 lakh: FMNo case to revise direct tax rates, slabs: FM
12:22
Surcharge on those earning above Rs 1 crore
12:21
At 1220 hours, the Sensex flat at 19,157.56 and the Nifty flat at 5,798.55.
12:19
Little room to raise taxes. : FM #Discuss-Budget-2013All Regional Rural Banks and cooperative banks to be e-linked by this year-end. #Discuss-Budget-2013Insurance companies will be empowered to open branches in Tier-II cities with approval of IRDA. #Discuss-Budget-2013
12:16
Policy on exploration of shale gas on the anvil; natural gas pricing policy will be reviewed and uncertainty removed: FM #Discuss-Budget-2013Incubators set up by companies in academic institutions will qualify for Corporate Social Responsibility (CSR)activities, says FM. #Discuss-Budget-2013Rs...
12:12
Govt to set up India's first women's bank as a public sector bank by October, says FM. #Discuss-Budget-2013Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17, says FM. #Discuss-Budget-20135 million tons Dabhol LNG import terminal to...
12:10
At 1210 hours, the Sensex is up 48 points at 19,200.62 and the Nifty is up 13 points at 5,809.55. #Discuss-Budget-2013
12:07
Two new major ports to be set up in West Bengal and Andhra Pradesh, says FM. #Discuss-Budget-2013 Oil and gas exploration policy will be reviewed and moved from profit sharing to revenue sharing: FM. #Discuss-Budget-2013
12:06
Education stocks rally as much as 12% in late morning trade.
12:05
Rajiv Gandhi Equity Scheme will be liberalised to allow first time investor to invest in Mutal Fund and equity. #discuss-budget-2013 First housing loan up to Rs 25 lakh would get additional deduction of interest of up to Rs 1 lakh in 2013-14, says FM. #discuss-budget-2013Govt to construct power...
12:00
Government has decided to constitute a regulatory authority for the road sector: FM. #discuss-budget-2013Many manufacturing projects stalled due to regulatory process: FM. #discuss-budget-2013A company investing Rs 100 crore or more in plant and machinery in April 1, 2013 to March 31, 2015 will...
11:59
At 1200 hours, the Sensex is up 54 points at 19,206.73 and the Nifty is up 19 points at 5,815.90.
11:56
Madhavan Narayanan on Twitter: Chidambaram unveils investment allowance to kickstart/revive capital goods industry FM #discuss-budget-2013 Deepak Mohoni on Twitter: There are a lot of specific infrastructure projects being mentioned, this has to be good. #discuss-budget-2013 Sreemoy Talukdar on...
11:53
Rs 10,000 crore set aside for incremental cost for National Food Security Bill over and above food subsidy. #discuss-budget-2013Four Infrastructure debt fund have been registered: FM. #discuss-budget-2013Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 strictly on capacity to...
11:51
At 1150 hours, the Sensex is up 45 points at 19,197.77 and the Nifty is up 8 points at 5,805.40.
11:51
Good news for home loan takers. People taking a home loan in 2013-14 for an amount up to Rs 25 lakh will be allowed an additional deduction of Rs 1 lakh. #discuss-budget-2013RGESS will be liberalised & the investor will be allowed to invest in mutual funds. #discuss-budget-2013The investor...
11:44
Rs 15,260 crore to be allocated to Ministry of Drinking Water and Sanitation. #discuss-budget-2013Rs 80,194 crore allocation for Ministry of Rural Development in 2013-14. About Rs 33,000 crore for MGNREGA,says FM. #discuss-budget-2013States which have completed Pradhan Mantri Gramin Sadak Yojana...
11:42
At 1140 hours, the Sensex is up 62 points at 19,220.06 and the Nifty is up 15 points at 5,811.95.
11:40
All fertiliser stocks are up.
11:39
FM: Focus will continue to be on early childhood care. #discuss-budget-2013FM promises ease of doing business in India. #discuss-budget-2013FM: Infrastructure Debt Funds will be encouraged. #discuss-budget-2013
11:36
Rs 4,727 crore to be allocated for medical education and research. Rs 1,069 crore to be given to Department of Ayush. #discuss-budget-2013Rs. 65,867 crore allocated to Ministry of HRD in 2013-14: FM. #discuss-budget-2013Medical colleges in six more AIIMS-like institutions to start functioning...
11:33
Rs 1069 crore allocated to Department of Aryush: FM. #discuss-budget-2013FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan. #discuss-budget-2013Additional sum of Rs 200 crore to Women and Child Welfare Ministry to address issues of vulnerable women....
11:32
At 1130 hours, the Sensex is up 46 points at 19,198.64 and the Nifty is up 10 points at 5,807.25.
11:31
Shaili Chopra on Twitter: Big worry is current account deficit mainly because of oil imports, coal imports, passion for gold - FM #discuss-budget-2013Murali Jayaraman on Twitter: Food inflation is the most worrisome and we will take all the necessary steps to curb this! ...
11:26
Faced with huge fiscal deficit, I have no choice but to rationalise expenditure: FM. #discuss-budget-2013We have brought down headline WPI inflation to 7 per cent and core inflation to 4.2 per cent. Food inflation isworrying: FM. #discuss-budget-2013Plan expenditure in 12th Five Year Plan revised...
11:21
FM: Single women and widows must be able to live with dignity; WCD has been asked to design schemes. #discuss-budget-2013FM: To allocate Rs 1106 crore for alternative medicine industry. #discuss-budget-2013
11:21
FM: To increase allocation for health, family welfare. #discuss-budget-2013FM: FY14 expenditure seen at Rs 16.65 lakh crore. #discuss-budget-2013Budget 2013: To expand medicare facilities for women, differently abled. #discuss-budget-2013FM: FY14 expenditure seen at Rs 16.65 lakh crore....
11:20
At 1120 hours, the Sensex is up 77 points at 19,229.20 and the Nifty is up 30 points at 5,827.25.
11:19
Budget 2013: FY 14 Total expenditure at Rs 16.65 lakh crores Budget 2013. #discuss-budget-2013FM: Growth rate under UPA was highest. #discuss-budget-2013FM: Plan expenditure seen at Rs 5.53 lakh crore. #discuss-budget-2013FM: My Budget's overarching goal -- to create opportunities for our youth....
11:17
India does not have choice between welcoming and spurning foreign investment; it is an imperative: Chidambaram. #discuss-budget-2013
11:16
Current account deficit continues to be high due to excessive dependence on oil, coal and gold imports and slowdown in exports. #discuss-budget-2013
11:14
Complete coverage: Union Budget 2013-14 #discuss-budget-2013
11:12
At 1110 hours, the Sensex is up 121 points at 19,273.86 and the Nifty is up 34 points at 5,831.30.
11:12
Economic space constrains due to high fiscal deficit, lower savings and investment and tight monetary policy: FM. #discuss-budget-2013
11:11
FM says Budget speech would be simple straightforward and short. #discuss-budget-2013 Average economic growth rate in 11th Plan period is 8 per cent, highest ever in any Plan period: FM. #discuss-budget-2013
11:10
Average economic growth rate in 11th Plan period is 8 per cent, highest ever in any Plan period: FM. #discuss-budget-2013
11:08
There is no reason for gloom or pessimism: FM. #discuss-budget-2013
11:07
India can retain it's high growth path: FM. #discuss-budget-2013
11:06
Indonesia and China growing faster than India: FM. #discuss-budget-2013
11:05
Chidambaram's last Budget was in 2008. #discuss-budget-2013
11:05
Global economy slowed, India not affected, says the FM. #discuss-budget-2013
11:02
The finance minister may consider restricting Rs 1 lakh deduction under section 80C to core investments and allowing separate deduction for expenses incurred for basic needs like education and repayment of housing loan. #discuss-budget-2013
11:02
At 1100 hours, the Sensex is up 132 points at 19,284.88 and the Nifty is up 39 points at 5,835.65. #discuss-budget-2013
10:56
Chidambaram is happy to present his 8th Budgetand he told close friends that he owed this to his Sivaganga voters who reposed confidence in him for 7 times. P Chidambaram is the 7 time MP. #discuss-budget-2013
10:55
Cabinet clears the Budget for 2013-14. #discuss-budget-2013FM may have to raise taxes to meet FY14 fiscal deficit target. #discuss-budget-2013
10:53
Investors will watch closely to see whether the three-times finance minister - seen as a possible candidate for prime minister in 2014 - will fulfil his promise of fiscal prudence or sow the budget with vote-winning, but expensive, welfare handouts.
10:52
At 1050 hours, the Sensex is up 121 points at 19,273.68 and the Nifty is up 35 points at 5,832.15. #discuss-budget-2013
10:43
At 1040 hours, the Sensex is up 116 points at 19,268.02 and the Nifty is up 32 points at 5,828.75.
10:42
Ramesh Srivats on Twitter: The Budget is the noble democratic process through which money is transferred from those who work to those who vote. #discuss-budget-2013
10:37
Some ministries are bracing for funding cuts of up to 20-24% from their original 2012-13 targets. #discuss-budget-2013
10:37
Chidambaram has staked his reputation on hitting a fiscal deficit target of 5.3 percent of GDP this year and 4.8% in 2013-14. A no-nonsense, Harvard-educated, lawyer who commands both respect and fear in government, he has squelched opposition from cabinet colleagues worried that spending cuts...
10:35
Government to release Q3 gross domestic product data at 5 PM. #discuss-budget-2013
10:32
Chetan Bhagat: A poor man's budget, no matter how well presented or analyzed, will still remain a poor man's budget.The nation watches the govt giving budget as if it is daddy setting pocket money rules. Economy and govt shouldn't be so linked. #discuss-budget-2013
10:30
At 1020 hours, the Sensex is up 111 points at 19,263.62 and the Nifty is up 30 points at 5,827.00.
10:29
NDTV: Cabinet under way to give its formal approval to #discuss-budget-2013
10:28
Anand Mahindra: A Big-Bang Budget may be required medicine today,but what we need is small doses of reform administered consistently throughout the year. #discuss-budget-2013
10:26
Subramanian Swamy: This Budget will be a dying croak of a bankrupt tottering government. PC is a crooked lawyer and knows zero economics like Sibal in Telecom. #discuss-budget-2013
10:17
J P Morgan says Budget 2013 is a chance to leave 'policy paralysis' behind. #discuss-budget-2013Petroleum subsidy reduction may make upstream oil majors attractive. #discuss-budget-2013Will Chidambaram opt for prudence over populism. #discuss-budget-2013
10:12
The total deductions that a taxpayer can avail on investments have been restricted to Rs 1 lakh for quite a while now. The section 80C basket even includes expenses such as eduction on children's education and tuition fees under its bandwidth and also repayment of interest loan that has severely...
10:11
Any medical allowance given to an employee, by an employer, is tax-free in the hands of the employee to the tune of Rs 15,000 per annum. Considering the rising cost of medical expenses, the amount is too low and needs to be reconsidered.
10:09
At 1010 hours, the Sensex is up 118 points at 19,270.32 and the Nifty is up 32 points at 5,828.60.
10:09
House Rent AllowanceAccording to Economic Times, the current provisions of the income tax act allow rent paid by the employee as an expense exempt from the income tax subject to a limit of...50% of the annual basic salary (40% for non-metros) orActual HRA received from the employer orRent paid...
10:06
Key focus on Direct Cash Transfer. #discuss-budget-2013
10:06
Experts ask FM to increase taxes to raise revenue.
10:04
Chidambaram reaches Parliament.
10:03
At 1000 hours, the Sensex is up 106 points at 19,258.61 and the Nifty is up 30 points at 5,826.60.
10:03
Higher exemption Limit on Interest on Housing LoanEven as real estate prices are soaring and interest rates continue to remain high the expense on housing loan interest on which there is a tax exemption continues to be pegged at a meagre Rs 150,000 annually, says ET.
09:52
Union Budget 2013-14: Complete coverage
09:51
At 0950 hours, the Sensex is up 120 points at 19,271.95 and the Nifty is up 32 points at 5,828.85.
09:40
At 0940 hours, the Sensex is up 133 points at 19,285.40 and the Nifty is up 35 points at 5,831.85.
09:40
Economists say he may also unveil measures to widen the tax net to boost government revenues, lay the groundwork for a goods and services tax, reduce the government's huge subsidies bill, sell more stakes in state-owned enterprises and raise import duties to dampen demand for gold.
09:39
He is expected to announce plans to keep a lid on government spending in fiscal 2013-14, capping it at roughly the same level as the year ending next month, officials told Reuters, despite fears that lower public expenditure risks deepening India's sharpest economic downturn in a decade.
09:30
Chidambaram will likely spell out plans to narrow fiscal and current account deficits, which have alarmed ratings agencies and triggered warnings that the country's sovereign bonds could lose their investment grade status and be downgraded to 'junk' if urgent steps are not taken to rein in spending.
09:28
The 2013-14 budget caps an intensive seven-month campaign by the energetic Chidambaram, who was appointed last August, to turn around the fortunes of Asia's third-largest economy after years of policy drift and global economic turmoil.
09:23
Flab from social sectors bills may be cut, says CNBC.
09:23
CNBC says, no one in the mood for flashy budgets.No one is interested in more subsidies, either.
09:22
Sources say, enough elbow room for food subsidy Bill.
09:22
Youth-oriented schemes may get a push in the Budget.
09:21
FM may announce all-women bank
09:20
Union Budget 2013-14: Live speech, news, views, and much more
09:19
At 0917 hours, the Sensex is up 142 points at 19,293.99 and the Nifty is up 41 points at 5,837.85.
09:18
The Competition Commission of India is understood to have given its approval to the 111.67 billion rupees deal betweenUnited Spirits Ltd and Diageo Plc, the Hindu Business Line newspaper reported, citing unidentified officialsand lawyers. #discuss-budget-2013
09:17
India's Foreign Investment Promotion Board, a unit of the finance ministry, recommended a planned $1.94 billion investment by Swedish retail giant IKEA for cabinet approval, a government statement said on Wednesday. #discuss-budget-2013
09:09
Mylan Inc said it will buy a unit of Strides Arcolab Ltd for $1.6 billion to expand its presence in the fast-growing injectable drugs market.
09:08
Japanese conglomerate YKK Group is in an advanced stage of negotiations to buy out the aluminium extrusion business ofBhoruka Aluminium, The Economic Times reported, citing two people familiar with the development.
09:05
Finance Minister P. Chidambaram will present one of the most highly anticipated Indian budgets of recent years onThursday, a blueprint for austerity that forms the centrepiece of India's efforts to stave off a damaging credit ratingsdowngrade.Standard Chartered Plc is in talks to buy Morgan...
09:05
India will unveil the budget for 2013-14India'x Oct-Dec GDPIndia's Jan. infrastructure outputExpiry of Feb. derivative contracts.
09:04
Nifty futures on the Singapore Exchange rose 0.9 per cent. The MSCI-Asia Pacific index, excluding Japan rose 1.1 per cent.Asian shares extended gains for a second day on Thursday as sentiment improved after Federal Reserve Chairman BenBernanke reaffirmed his commitment to strong stimulus, while...
08:48
At 1045 hours, Chidambaram will open the 2013 Budget secrets before 34 of his Cabinet colleauges. Of course Prime Minister Dr Manmohan Singh knows the contents of the budgetary proposals. Chidambaram will then walk into the Lok Sabha accompanied by Kamal Nath and other senior ministers to present...
08:45
At 1015 hrs P Chidambaram will enter Gate number one of Parliament, and pose for journalists along with his two Union Ministers of State Namo Narain Meena and S S Palanimanickam.
08:43
Experts at the Federal Aviation Administration are expected to say next week whether they recommend accepting Boeing's plan to fix its troubled 787 Dreamliners so the planes can resume flying, the agency head said.Officials in the FAA office near Seattle that certifies new planes as safe for...
08:40
Finance Minister P Chidambaram as a first official duty shall meet President Pranab Mukherjee to seek permission to present the Union Budget 2013 in Parliament. This is a customary protocol as the President is the authority for consolidated funds and keeper of the economy. President Mukherjee's...
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