LIVE
Mon, 17 February 2014
140 mn people lifted out of poverty in last 10 years: FM
Timeline Refresh
12:22
Chidambaram told parliament that the country needs to contain the fiscal deficit at 3 per cent of GDP by 2016-17.
FM said he would propose setting up a non-statuary public debt management office that could start from fiscal 2014-15.
Blood banks to be exempt from service tax.
Service tax relief storage for warehousing for rice.
Excise duty on mobile handset to be 6 pc on CENVAT credit to encourage domestic production.
Revenue deficit estimated at 3 pc for current fiscal.
FM said he would propose setting up a non-statuary public debt management office that could start from fiscal 2014-15.
Blood banks to be exempt from service tax.
Service tax relief storage for warehousing for rice.
Excise duty on mobile handset to be 6 pc on CENVAT credit to encourage domestic production.
Revenue deficit estimated at 3 pc for current fiscal.
12:11
Govt has obtained information in 67 cases of illegal offshore accounts of Indians: FM.
12:09
Direct taxes left untouched
Huge excise duty cuts on mobile handsets
Three more industrial corridors under implementation: FM
Huge excise duty cuts on mobile handsets
Three more industrial corridors under implementation: FM
12:08
Budget Estimate 2014-15: Fiscal deficit at 4.6% vs red line of 4.8%
Excise cut to 10% on consumer durables
Excise cut to 10% on consumer durables
12:03
Excise duty for large and mid-segment cars cut to 20%
Service tax exemption on loading, unloading, storage of rice
Excise cut from 12% to 10% for capital goods
Excise cut from 12% to 10% for capital goods
Excise duty cut for small cars to 8%, SUVs to 24% from 30%
Service tax exemption on loading, unloading, storage of rice
Excise cut from 12% to 10% for capital goods
Excise cut from 12% to 10% for capital goods
Excise duty cut for small cars to 8%, SUVs to 24% from 30%
12:02
No change in tax laws, but calls for some intervention
To set up public debt management agency
Appeal to all political parties to pass GST
Excise duty cut for auto sector
Excise duty cut from 12% to 8% small cars, two-wheelers till June 30, 2014
Excise duty cut from 12% to 10% for cap goods and consumer durables
To set up public debt management agency
Appeal to all political parties to pass GST
Excise duty cut for auto sector
Excise duty cut from 12% to 8% small cars, two-wheelers till June 30, 2014
Excise duty cut from 12% to 10% for cap goods and consumer durables
12:00
Disappointed that we have not been able to implement GST
Need modern tax laws - disappointed that GST not introduced yet
Food subsidy shoots up to over Rs 1 lakh crore: Chidambaram
FY15 Fuel subsidy at Rs 65,000 cr
FY15 Urban Housing Fund Allocation at Rs 2,000 cr
Rs 2,600 cr for education loan moratorium
Need modern tax laws - disappointed that GST not introduced yet
Food subsidy shoots up to over Rs 1 lakh crore: Chidambaram
FY15 Fuel subsidy at Rs 65,000 cr
FY15 Urban Housing Fund Allocation at Rs 2,000 cr
Rs 2,600 cr for education loan moratorium
11:54
Average growth under UPA-I was 8.4 per cent and UPA-II 6.6 per cent.
Average growth under UPA's ten year rule was 6.2 per cent against 5.9 during NDA period of 1999-2004.
Propose a moratorium period for all education loans taken prior to 2009 upto 2014
Food, Fuel, Fertilizer subsidy pegged at 2.46 lakh cr
FY15 fertlisier subsidy to be Rs 76,000 cr
500 MW fast breeder nuclear reaction in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction.
Average growth under UPA's ten year rule was 6.2 per cent against 5.9 during NDA period of 1999-2004.
Propose a moratorium period for all education loans taken prior to 2009 upto 2014
Food, Fuel, Fertilizer subsidy pegged at 2.46 lakh cr
FY15 fertlisier subsidy to be Rs 76,000 cr
500 MW fast breeder nuclear reaction in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction.
11:52
Defence Allocation up 10% to Rs 2,24,000 cr for FY15
Propose a moratorium period for all education loans taken prior to 2009 upto 2014
To grant Rs 1,000 cr to the Nirbahya Fund for next year
Food, Fuel, Fertilizer subsidy pegged at 2.46 lakh cr
FY15 fertlisier subsidy to be Rs 76,000 cr
Ministry of Health and Family Welfare gets Rs 33,725 cr
FY15 capital infusion in PSU banks to be Rs 11,200 cr
Banks to surpass Rs 7 lakh cr towards rural credit in FY14, FM allocated Rs 8 lakh cr for FY15
Proposes 11,200 cr for capital infusion in PSU banks
Propose a moratorium period for all education loans taken prior to 2009 upto 2014
To grant Rs 1,000 cr to the Nirbahya Fund for next year
Food, Fuel, Fertilizer subsidy pegged at 2.46 lakh cr
FY15 fertlisier subsidy to be Rs 76,000 cr
Ministry of Health and Family Welfare gets Rs 33,725 cr
FY15 capital infusion in PSU banks to be Rs 11,200 cr
Banks to surpass Rs 7 lakh cr towards rural credit in FY14, FM allocated Rs 8 lakh cr for FY15
Proposes 11,200 cr for capital infusion in PSU banks
11:51
FY15 subsidies at Rs 2.46 lakh crore
Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of hardwork
Coal output grew to 554 mn tonnes against 361 mn tonnes over decade
Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of hardwork
Coal output grew to 554 mn tonnes against 361 mn tonnes over decade
11:42
Budgetary support to Railways has been increased to Rs 29,000 cr in FY15
Panchayati Raj Ministry to get Rs 7,000 cr
FY15 Plan expenditure kept at Rs 5.55 lakh crore
No change in plan expenditure for FY15, sets aside 5,22,000 cr
Plan expenditure at 2014-15 at same level at 2013-14
Panchayati Raj Ministry to get Rs 7,000 cr
FY15 Plan expenditure kept at Rs 5.55 lakh crore
No change in plan expenditure for FY15, sets aside 5,22,000 cr
Plan expenditure at 2014-15 at same level at 2013-14
11:41
No change in plan expenditure for FY15, sets aside 5,22,000 cr
Plan expenditure at 2014-15 at same level at 2013-14
Aadhaar a tool of empowerement
Govt remains fully committed to Aadhaar
Totally 54 lakh transactions completed under direct benefit transfer
1200 cr additional funds allocated to North-East states
Plan expenditure at 2014-15 at same level at 2013-14
Aadhaar a tool of empowerement
Govt remains fully committed to Aadhaar
Totally 54 lakh transactions completed under direct benefit transfer
1200 cr additional funds allocated to North-East states
11:40
So far, two proposals will recieve funds from Nirbhaya fund
After Mars Oribiter Mission, several more missions planned
Proposes Rs 1,200 cr additional assistance to hill states
Rs 100 cr allocated for community radio stations
To start 4 UMPPs in FY15
Rs 200 crore initial capital for a venture capital fund for scheduled castes
I reject the argument of policy paralysis: Chidambaram.
Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of
hardwork: FM.
Power capacity rises to 234,600 MW in 10 years: FM.
Expenditure on education has risen from Rs 10,145 crore 10 years ago to Rs 79,251 crore this year.
After Mars Oribiter Mission, several more missions planned
Proposes Rs 1,200 cr additional assistance to hill states
Rs 100 cr allocated for community radio stations
To start 4 UMPPs in FY15
Rs 200 crore initial capital for a venture capital fund for scheduled castes
I reject the argument of policy paralysis: Chidambaram.
Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of
hardwork: FM.
Power capacity rises to 234,600 MW in 10 years: FM.
Expenditure on education has risen from Rs 10,145 crore 10 years ago to Rs 79,251 crore this year.
11:33
GDP fell to 4.4% from 7.9% in nine quarters
India added fresh power capacity, rural roads, highways in last 3 months
Vote on Account 2014: India not facing a ratings downgrade from agencies
FM: Govt, RBI, SEBI stabilised forex mkts via many steps
India added fresh power capacity, rural roads, highways in last 3 months
Vote on Account 2014: India not facing a ratings downgrade from agencies
FM: Govt, RBI, SEBI stabilised forex mkts via many steps
11:31
Cabinet panel cleared 296 projects by end of January
Let history be the judge of the last 10 years: FM
Merchandise export to grow by 6.8% to $326 billion.
296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014: FM.
Exports are pegged to grow to $326 bn; up 6.4%
Agricultural Credit in FY14 at 7.35 lk cr vs 7 lk cr aim
Govt estimates food pdtn at 263 mn Tn
Govt pegs investment rate at 34.8%; saving rate @ 30.1%
3 more industrial corridors - Chennai-Bangalore, Bangalore-Mumbai, Amritsar-Kolkata - under various stages of
implementation.
Let history be the judge of the last 10 years: FM
Merchandise export to grow by 6.8% to $326 billion.
296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014: FM.
Exports are pegged to grow to $326 bn; up 6.4%
Agricultural Credit in FY14 at 7.35 lk cr vs 7 lk cr aim
Govt estimates food pdtn at 263 mn Tn
Govt pegs investment rate at 34.8%; saving rate @ 30.1%
3 more industrial corridors - Chennai-Bangalore, Bangalore-Mumbai, Amritsar-Kolkata - under various stages of
implementation.
11:25
Food inflation remains a worry; food prices have come down
Foreign exchange reserves up by USD 15 billion: FM.
Foodgrain production estimated at 263 million tons in 2013-14
Agriculture credit will cross $45 billion against $41 billion in 2012-13.
Foreign exchange reserves up by USD 15 billion: FM.
Foodgrain production estimated at 263 million tons in 2013-14
Agriculture credit will cross $45 billion against $41 billion in 2012-13.
11:23
Govt, RBI acted in tandem to curtail inflation
Added $15 bn to foreign reserves this fiscal
FY14 Current Account Deficit seen at $45 bn
India not facing a ratings downgrade from agencies
We shall not do anything that will affect the foundation of India's economy
Added $15 bn to foreign reserves this fiscal
FY14 Current Account Deficit seen at $45 bn
India not facing a ratings downgrade from agencies
We shall not do anything that will affect the foundation of India's economy
11:22
CAD will be USD 45 billion in 2013-14: FM.
11:21
FM: Our objectives were fiscal consolidation, reviving growth cycle, and enhancing manufacturing
FM: India's challenges are common to all emerging economies
Chidambaram's speech disrupted in Parliament
FM: India's challenges are common to all emerging economies
Chidambaram's speech disrupted in Parliament
11:19
Fiscal deficit is at 4.6% of GDP
FM: Our objectives were fiscal consolidation, price stability
FM: I shall give you an account of how we navigated the turbulent waters of the Indian economy
FM: Our objectives were fiscal consolidation, price stability
FM: I shall give you an account of how we navigated the turbulent waters of the Indian economy
11:14
Investors need to have stock-specific approach: Atul Suri.
11:07
He is likely to make the speech outside Parliament. Vote on account speech may move to the Lok Sabha TV studio.
11:02
By tradition, the interim budget does not contain proposals seeking to tinker with direct taxes, nor are there any policy announcements, although there may be some sops for the common man and sectors that need help.
It would be interesting to see if Chidambaram continues with the super-rich tax in 2014-15 as well, but indications are he may choose not to since it would need amendment of the law.
In the last Budget, the government imposed a 10 per cent surcharge for a year (2013-14 fiscal) on people earning income above Rs 1 crore. It covered 42,800 individuals and entities.
It would be interesting to see if Chidambaram continues with the super-rich tax in 2014-15 as well, but indications are he may choose not to since it would need amendment of the law.
In the last Budget, the government imposed a 10 per cent surcharge for a year (2013-14 fiscal) on people earning income above Rs 1 crore. It covered 42,800 individuals and entities.
10:57
Market expects FY14 CAD at $ 40.5-42 bn versus $ 50.5 bn projection.
10:56
Market expects FY14 fiscal deficit at Rs 5-5.5 lakh crore, budget estimate at Rs 5.4 lakh crore.
10:53
Besides, global cues, movement of rupee and investment pattern of foreign institutional investors will also be important for the domestic indices.
Experts said on the macro front, market participants will closely watch the FY'15 fiscal deficit target, which will determine the size of market borrowing for the next fiscal.
Overall, the near-term trend is showing sell on rallies, and till Nifty closes decisively above 6,100, investors may book profit in rallies.
Experts said on the macro front, market participants will closely watch the FY'15 fiscal deficit target, which will determine the size of market borrowing for the next fiscal.
Overall, the near-term trend is showing sell on rallies, and till Nifty closes decisively above 6,100, investors may book profit in rallies.
10:28
Finance Minister Palaniappan Chidambaram will present an unremarkable vote on-account to the Lok Sabha on Monday, deliberately bereft of populist measures or tax concessions, despite the imminence of a general election.
Since Congress is headed for its worst defeat in the coming election, Chidambaram's budget speech will be a swansong, says Swaminathan S Anklesaria Aiyar of Economic Times, adding he will present a stirring account of the great feats of UPA over the past decade while airbrushing the steep fall in growth and rise in inflation in the past three years.
Voters will not be impressed, as he well knows.
Since Congress is headed for its worst defeat in the coming election, Chidambaram's budget speech will be a swansong, says Swaminathan S Anklesaria Aiyar of Economic Times, adding he will present a stirring account of the great feats of UPA over the past decade while airbrushing the steep fall in growth and rise in inflation in the past three years.
Voters will not be impressed, as he well knows.
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