LIVE
Mon, 29 February 2016
Budget will go a long way in restoring the faith of taxpayers
Timeline Refresh
16:56 Govt keen to simplify tax administration
Daksha Baxi, Executive Director, Khaitan & Co. and Ritu Shaktawat, Principal Associate, Khaitan & Co:
Daksha Baxi: "The FM's announcement that the Tax Simplification Committee's recommendations are being accepted is a very big positive in the Government's commitment to simplifying taxation administration'.
Ritu Shaktawat: "The overall measures to reduce tax litigation such as mandatory stay upon payment of 15% of disputed tax during pendency of first level appeals, position on retrospective laws related proceedings, time limit for disposal of appeals relating to levy of interest and penalty, etc. will go a long way in restoring the faith of taxpayers in the tax administration.
One area which has led to huge litigation on the domestic taxation front has been the disallowance of expenditure incurred on earning exempt income. The Government's move to provide clearer rules for computing this disallowance will greatly reduce litigation on this front'.
Photograph, courtesy: Sudarsan Pattnaik/Twitter
Daksha Baxi: "The FM's announcement that the Tax Simplification Committee's recommendations are being accepted is a very big positive in the Government's commitment to simplifying taxation administration'.
Ritu Shaktawat: "The overall measures to reduce tax litigation such as mandatory stay upon payment of 15% of disputed tax during pendency of first level appeals, position on retrospective laws related proceedings, time limit for disposal of appeals relating to levy of interest and penalty, etc. will go a long way in restoring the faith of taxpayers in the tax administration.
One area which has led to huge litigation on the domestic taxation front has been the disallowance of expenditure incurred on earning exempt income. The Government's move to provide clearer rules for computing this disallowance will greatly reduce litigation on this front'.
Photograph, courtesy: Sudarsan Pattnaik/Twitter
16:08
Prime Minister Narendra Modi said the Budget is keen on bringing about qualitative change in the country and alleviate poverty through a slew of time-bound programmes.
15:37 The many firsts in Budget 2016
Arun Jaitley's Budget 2016 has many firsts to its credit.
For the first time, the Budget speech, that is Part A, was in the national flag colours, with orange and green at the top and bottom.
For the first time, the key documents had icons as a visual aid, you can see them here:
(http://indiabudget.nic.in/ub2016-17/bh/bh1.pdf).
Also for the first time, the webcast of the finance minister's speech was put on the finance ministry's YouTube channel.
For the first time, officials from the Union finance ministry will take to Twitter and Facebook to answer questions online.For the first time, the finance ministry website has been designed with smartphones in mind.
If your device has adequate storage, you can now download the entire budget from this link:
http://indiabudget.nic.in on to any phone, tablet or Kindle in .pdf format.
For the first time the finance minister did not read out either Tamil or Urdu couplets '" as has been the norm -- but quoted one famous Hindi proverb.
Nothing fancy, no claps, just a simple and straight-forward budget presentation, said a senior Union minister.
For the first time, the Budget speech, that is Part A, was in the national flag colours, with orange and green at the top and bottom.
For the first time, the key documents had icons as a visual aid, you can see them here:
(http://indiabudget.nic.in/ub2016-17/bh/bh1.pdf).
Also for the first time, the webcast of the finance minister's speech was put on the finance ministry's YouTube channel.
For the first time, officials from the Union finance ministry will take to Twitter and Facebook to answer questions online.For the first time, the finance ministry website has been designed with smartphones in mind.
If your device has adequate storage, you can now download the entire budget from this link:
http://indiabudget.nic.in on to any phone, tablet or Kindle in .pdf format.
For the first time the finance minister did not read out either Tamil or Urdu couplets '" as has been the norm -- but quoted one famous Hindi proverb.
Nothing fancy, no claps, just a simple and straight-forward budget presentation, said a senior Union minister.
13:41
Sticking to fiscal deficit targets a big boost, says Swaminathan Aiyar
Arvind Subramanian: Commitment on path of growth reflects in this Budget
Govt has painted a very broad picture, we have to look at details: Shashi Tharoor
Arvind Subramanian: Commitment on path of growth reflects in this Budget
Govt has painted a very broad picture, we have to look at details: Shashi Tharoor
13:39
Chief Economic Adviser, Arvind Subramanian says public investment will be kickstarted by this Budget.
There is room for monetary easing, this Budget reinforces this but it is up to the RBI, he added.
Tax to GDP ratio is barely going to budge, fiscal consolidation will have a favourable effect on prices, he said.
'Growth and fiscal anchors have been well balanced in the Budget.'
There is room for monetary easing, this Budget reinforces this but it is up to the RBI, he added.
Tax to GDP ratio is barely going to budge, fiscal consolidation will have a favourable effect on prices, he said.
'Growth and fiscal anchors have been well balanced in the Budget.'
13:38 Yes, FM has passed the test: Yashwant Sinha
Chief Economic Adviser, Arvind Subramanian says public investment will be kickstarted by this Budget.
There is room for monetary easing, this Budget reinforces this but it is up to the RBI, he added.
Tax to GDP ratio is barely going to budge, fiscal consolidation will have a favourable effect on prices, he said.
'Growth and fiscal anchors have been well balanced in the Budget.'
There is room for monetary easing, this Budget reinforces this but it is up to the RBI, he added.
Tax to GDP ratio is barely going to budge, fiscal consolidation will have a favourable effect on prices, he said.
'Growth and fiscal anchors have been well balanced in the Budget.'
13:22
This Budget is mostly for the villagers and not the corporate sector.
Markets have bounced back. Both BSE, NSE are up.
Markets have bounced back. Both BSE, NSE are up.
13:03
Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher capacity vehicles.
Excise 1 pc imposed on articles of jewellery excluding silver.
Excise 1 pc imposed on articles of jewellery excluding silver.
13:02
Sanjiv Goenka: Budget restores confidence in India Inc
This is a budget where BJP is telling India's village voters, we are for you, unfortunately, village voters also want high growth, and lots of jobs: Saubhik Chakrabarti, Deputy Executive Editor, ET
Sunil Alagh: Full marks to FM for such a bold Budget
This is a political budget, an early firing gun for the 2019 elections: Lord Meghnad Desai
This is a budget where BJP is telling India's village voters, we are for you, unfortunately, village voters also want high growth, and lots of jobs: Saubhik Chakrabarti, Deputy Executive Editor, ET
Sunil Alagh: Full marks to FM for such a bold Budget
This is a political budget, an early firing gun for the 2019 elections: Lord Meghnad Desai
12:59
Sensex recovers; down over 80 points after FM Jaitley's speech
CRISIL View: It's a rural- and poor-focussed, redistributive Budget, while adhering to fiscal prudence
CRISIL View: It's a rural- and poor-focussed, redistributive Budget, while adhering to fiscal prudence
12:51
Direct tax proposal to result in revenue loss of Rs 1060 cr;indirect tax proposals to raise Rs 20,670 cr; net gain of Rs 19,610 cr.
12:46
Jewellery Stocks in Focus at 12.30PM
Titan Rs 314.90 (-4.75%),
PC Jewel Rs 307.20 (-5.35%),
Gitanjali Gems Rs 31.40 (-1.26%)
Titan Rs 314.90 (-4.75%),
PC Jewel Rs 307.20 (-5.35%),
Gitanjali Gems Rs 31.40 (-1.26%)
12:44
Net impact of tax propoasls will result in revenue gain of Rs 19,000 crore
Govt will pay interest of 9% in case of delay beyond 90 days in implementing appellate decision
Govt will pay interest of 9% in case of delay beyond 90 days in implementing appellate decision
12:40
E-assessments to be extended to all e-assesees in 7 metros. to eliminate face-to-face meeting with tax official, to be conducted in e-environment.
Baggage allowance for fliers likely to be increased.
Deferred payment of customs duty for importers and exporters with proven track record
Baggage allowance for fliers likely to be increased.
Deferred payment of customs duty for importers and exporters with proven track record
12:40
BSE 22,720.74 -433.56(-1.87%)
NSE 6,903.10 -126.65 (-1.80%)
Propose to provide that on furnishing non-PAN alternative, higher rate of taxation won't apply for TDS
Monetary limit for cases to be decided by 1-member bench up from 15 lakh to 50 lakh rupees: FM
Penalty to be 50% of tax in income under-reporting cases, 200% in misreporting of facts: FM
NSE 6,903.10 -126.65 (-1.80%)
Propose to provide that on furnishing non-PAN alternative, higher rate of taxation won't apply for TDS
Monetary limit for cases to be decided by 1-member bench up from 15 lakh to 50 lakh rupees: FM
Penalty to be 50% of tax in income under-reporting cases, 200% in misreporting of facts: FM
12:38
Sensex off day's low, down 400 points amid Budget 2016 announcements
12:36
Retrospective Tax: High level committee headed by Revenue Secretary to allay fears, says Jaitley
New disposal regime for tax cases
Under new dispute resolution scheme, tax dispute can be resolved by paying 25% of disputed income in some cases
Limited tax compliance window from June 1-Sep 30 for declaring undisclosed income at 45% including surcharge and penalties: Jaitley
Tobacco Stocks in focus:
ITC Rs 286 (-1.67%),
Godfrey Philips Rs 974.30 (-4.72%),
VST Ind Rs 1503 (-1.03%)
New disposal regime for tax cases
Under new dispute resolution scheme, tax dispute can be resolved by paying 25% of disputed income in some cases
Limited tax compliance window from June 1-Sep 30 for declaring undisclosed income at 45% including surcharge and penalties: Jaitley
Tobacco Stocks in focus:
ITC Rs 286 (-1.67%),
Godfrey Philips Rs 974.30 (-4.72%),
VST Ind Rs 1503 (-1.03%)
12:32
About 3 lakh taxe cases pending, worht Rs 5.5. lakh crore
Window open from June 1, 2016, defaulters will pay within two months of reporting undeclared income.
1 year window for tax evaders; can pay up to 45% of undeclared income.
Window open from June 1, 2016, defaulters will pay within two months of reporting undeclared income.
1 year window for tax evaders; can pay up to 45% of undeclared income.
12:31
10% extra DDT on dividend recipients earning above Rs 10 lakh per annum, says FM in Budget 2016
1% tax on luxury goods and cars; Infra cess of 1% on small cars & 2.5% on diesel cars, says FM in Budget 2016
To hike excise duty on tobacco: FM
Boost for startups! 100% tax deductions for new startups for first 3 years: FM
Market Update: Sensex, Nifty slip over 500 points on Budget 2016 announcements
CRISIL View: Growth in plan expenditure at 15.5% too ambitious given the 3.5% fiscal deficit target. It has already slowed by 0.6%
Services provided by EPFO exempted from service tax: FM
CRISIL View: Halving of accelerated depreciation to impact solar power tariffs by 60 paise per unit
Tax proposals to provide relief to small taxpayers through rebates: FM
1% tax on luxury goods and cars; Infra cess of 1% on small cars & 2.5% on diesel cars, says FM in Budget 2016
To hike excise duty on tobacco: FM
Boost for startups! 100% tax deductions for new startups for first 3 years: FM
Market Update: Sensex, Nifty slip over 500 points on Budget 2016 announcements
CRISIL View: Growth in plan expenditure at 15.5% too ambitious given the 3.5% fiscal deficit target. It has already slowed by 0.6%
Services provided by EPFO exempted from service tax: FM
CRISIL View: Halving of accelerated depreciation to impact solar power tariffs by 60 paise per unit
Tax proposals to provide relief to small taxpayers through rebates: FM
12:29
Clean Environment Cess for coal and lignite raised to Rs 400 per tonne
Increase excise duty on tobacco products between 10-15%
0.05% cess called Krishi Kalyan Cess on all taxable services.
Increase excise duty on tobacco products between 10-15%
0.05% cess called Krishi Kalyan Cess on all taxable services.
12:29
Incentives for new manufacturing companies and smaller enterprise companies: FM
Service tax exempted for housing construction of houses less than 60 square metre: FM
In 2016-17, govt eyes Rs 1,80,000 crore credit target through Mudra bank: FM
Government should spend money on small scale irrigation projects, caution activists
Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana: FM
Deduction for rent payers raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses: FM
Service tax exempted for housing construction of houses less than 60 square metre: FM
In 2016-17, govt eyes Rs 1,80,000 crore credit target through Mudra bank: FM
Government should spend money on small scale irrigation projects, caution activists
Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana: FM
Deduction for rent payers raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses: FM
12:27
Infra cess of 1% on all diesel cars of certain capacity, SUVs, some other cars
12:26
DDT to be exempt from REITs
12:26
The finance ministry has issued a press release saying that hard copies of Budget 2016 will not be distributed for the media at Parliament House today as the number of copies have been curtailed as part of its green effort.
12:24
Persons with higher income can bear higher tax cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
12:23
For first homebuyers, addl Rs 50,000 tax exemption for houses under Rs 50 lakh
12:23
BSE 22,818.16 -336.14 -1.45%)
NSE 6,922.85 -106.90 -1.52%)
NSE 6,922.85 -106.90 -1.52%)
12:22
Withdrawal up to 40% of corpus from Pension to be made tax-exempt
12:20
A Special Patent Regime proposed to power innovation and research: FM
Committed to increase investment in asset reconstruction companies: FM
Govt to set up dispute redressal body for infrastructure projects: FM Jaitley
Committed to increase investment in asset reconstruction companies: FM
Govt to set up dispute redressal body for infrastructure projects: FM Jaitley
12:19
LTCG period for unlisted firms reduced to 2 years
Economy, he says, has consolidated because of Govt's commitments to fiscal targets.
He added that govt needs to increase the pace for divestment.
Economy, he says, has consolidated because of Govt's commitments to fiscal targets.
He added that govt needs to increase the pace for divestment.
12:18
Relief to those in rented houses: deduction raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
12:17
Capital gains not to be taxed if invested in select categories
12:16
Lower corp. IT rate for FY17 of relatively small enterpises, with turnover of less than Rs 5 crore limited to 29% plus cess
BSE 22,899.93 -254.37 -1.10%)
NSE 6,944.30 -85.45 -1.22%)
BSE 22,899.93 -254.37 -1.10%)
NSE 6,944.30 -85.45 -1.22%)
12:15
Accelerated depreciation limited to 40% for first year, starting FY18
Corporate tax: Effective rate of tax comes to 24.8%. Accelerated depreciation limited to 40% for first year.
For MSMEs, with revenue not more than Rs 1 crore, turnover limit for scheme raise to Rs 2 crore.
Corporate tax: Effective rate of tax comes to 24.8%. Accelerated depreciation limited to 40% for first year.
For MSMEs, with revenue not more than Rs 1 crore, turnover limit for scheme raise to Rs 2 crore.
12:15
FM acknowledges the role of the taxpayer in nation building
Financial Data Management Centre for integrated data collection and analysis: FM
Massive rollout of ATMs and micro-ATMs in post offices: FM
Financial Data Management Centre for integrated data collection and analysis: FM
Massive rollout of ATMs and micro-ATMs in post offices: FM
12:13
For MSMEs, with revenue not more than Rs 1 crore, turnover limit for scheme raise to Rs 2 crore.
12:11
Not more than Rs 5 lakh, ceiling raised under 87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs 60000 per annum
12:10
Thrust of tax proposals on relief to small taxpayer, tax generation, value addition, moving to pensioned society, affordable housing, addl resources, reducing litigation, simplification and rationalistiaon.
12:10
Revenue deficit estimate for FY 2015-16 down to 2.5% from earlier estimates: FM
Necessary interim provisions made for implementation of 7th Pay Commission recommendations: FM
Public money should reach the poor and deserving without any leakage: FM
Necessary interim provisions made for implementation of 7th Pay Commission recommendations: FM
Public money should reach the poor and deserving without any leakage: FM
12:09
FY2016 revenue deficit target at 2.5%
Non plan expenditure at Rs 14.28 lakh crore.
PLan vs Non-Plan distinction to be erased in FY2017. Every new scheme to have sunset date and outcome review
15.3% increase in Plan Expenditure to Rs 5.5 lakh crore, this is the last year of the 12th Plan.
Non plan expenditure at Rs 14.28 lakh crore.
PLan vs Non-Plan distinction to be erased in FY2017. Every new scheme to have sunset date and outcome review
15.3% increase in Plan Expenditure to Rs 5.5 lakh crore, this is the last year of the 12th Plan.
12:07
160 airports and airstrips can be revived at a cost of Rs 50-100 crore each, says Jaitley.
Total allocation for road and rail in 2016-17 is Rs 2.18 lakh crore: FM
2,000 kilometres of state highways to be converted into national highways.
Total allocation for road and rail in 2016-17 is Rs 2.18 lakh crore: FM
2,000 kilometres of state highways to be converted into national highways.
12:06
15.3% increase in Plan Expenditure to Rs 5.5 lakh crore, this is the last year of the 12th Plan.
12:05
Jaitley starts on fiscal situation
FY17 fiscal deficit target at 3.5% - Jaitley
Fiscal deficit to be retained at 3.9% of GDP
FY17 fiscal deficit target at 3.5% - Jaitley
Fiscal deficit to be retained at 3.9% of GDP
12:04
Tech platform to be developed for procurement across ministries. Bill to amend Companies Act, will provide enabling platform, company registration to be completed in 1 day - Jaitley
12:02
Pilot DBT for fertiliser to be launched this fiscal - FM
Govt to intorduce targeted delivery of subsidies and other financial services using Aadhaar platform. Aadhaar not to confer proof of domicile or citizenship - Jaitley
Govt to intorduce targeted delivery of subsidies and other financial services using Aadhaar platform. Aadhaar not to confer proof of domicile or citizenship - Jaitley
12:02
Govt has option to reduce stake in IDBI below 50%
Govt to intorduce targeted delivery of subsidies and other financial services using Aadhaar platform. Aadhaar not to confer proof of domicile or citizenship - Jaitley
Govt has option to reduce stake in IDBI below 50%
Road for consolidation of banks to be spelt out - Jaitley
Allocation of Rs 25,000 crore for recapitalisation of Public sector banks
RBI Act to be amended for providing framework for Monetary Policy Code
Govt to intorduce targeted delivery of subsidies and other financial services using Aadhaar platform. Aadhaar not to confer proof of domicile or citizenship - Jaitley
Govt has option to reduce stake in IDBI below 50%
Road for consolidation of banks to be spelt out - Jaitley
Allocation of Rs 25,000 crore for recapitalisation of Public sector banks
RBI Act to be amended for providing framework for Monetary Policy Code
12:00
Shekhar Gupta: Subsidy to take LPG to BPL families a brilliant move. It'll do more to cleanse our air than any odd-even Tamasha/tokenism
11:59
Road for consolidation of banks to be spelt out - Jaitley
Allocation of Rs 25,000 crore for recapitalisation of Public sector banks
RBI Act to be amended for providing framework for Monetary Policy Code
Budget 2016: Jaitley proposes listing of PSU general insurance companies
Dept. of Disinvestment to be renamed as Dept. of Investment and Public Asset Management
Allocation of Rs 25,000 crore for recapitalisation of Public sector banks
RBI Act to be amended for providing framework for Monetary Policy Code
Budget 2016: Jaitley proposes listing of PSU general insurance companies
Dept. of Disinvestment to be renamed as Dept. of Investment and Public Asset Management
11:58
BSE 23,030.82 -123.48(-0.53%)
NSE 6,986.35 -43.40 -0.62%)
NSE 6,986.35 -43.40 -0.62%)
11:57
New derivative products to be developed by Sebi
100% FDI to be allowed through FIPB in marketing of food produce manufactured and processed in India - Jaitley.
Financial data management centre to be set up for financial management
Comprehensive code on resolution of financial firms to be introduced in parliament to deal with bankruptcy in banks and insurance companies, will provide comprehensive resolution framework.
100% FDI to be allowed through FIPB in marketing of food produce manufactured and processed in India - Jaitley.
Financial data management centre to be set up for financial management
Comprehensive code on resolution of financial firms to be introduced in parliament to deal with bankruptcy in banks and insurance companies, will provide comprehensive resolution framework.
11:51
Guidelines for PPP contracts to be issued. New credit rating systems for infra sector instead of relying standard perception of risk.
BS View from Viveat Susan Pinto: 'FM lives allocates Rs 2.78 lakh crore for rural economy & welfare. Impact: This will boost rural consumption. A positive for all companies whose sales come from rural areas'
BS View from Viveat Susan Pinto: 'FM lives allocates Rs 2.78 lakh crore for rural economy & welfare. Impact: This will boost rural consumption. A positive for all companies whose sales come from rural areas'
11:51
New pricing based on landed price is being considered - Jaitley
Work of national waterways already being expedited: FM
We will interlink state employment exchanges with national service career platform: FM
Considering to incentivize gas production from deep sea, ultra deep water and high temp. areas: FM
Total outlay for infrastructure Rs 2,21,246 crores in 2016/17: FM
Road transport in passenger segment to be opened up to private sector: FM
Total allocation to road sector including PMGSY: Rs 97,000 crore
Work of national waterways already being expedited: FM
We will interlink state employment exchanges with national service career platform: FM
Considering to incentivize gas production from deep sea, ultra deep water and high temp. areas: FM
Total outlay for infrastructure Rs 2,21,246 crores in 2016/17: FM
Road transport in passenger segment to be opened up to private sector: FM
Total allocation to road sector including PMGSY: Rs 97,000 crore
11:49
Govt to incentivise exploration in high seas.
Oil and gas discovery and exploration has been below our potential - Jaitley
Civil aviation - 160 unused and underused airports. These can be revived at cost of about Rs 150 crore each.
Ports - have added highest ever capacity. SagarMala project rolled out. new greenfield ports to come up on eastern and western seaboards - Jaitley
Oil and gas discovery and exploration has been below our potential - Jaitley
Civil aviation - 160 unused and underused airports. These can be revived at cost of about Rs 150 crore each.
Ports - have added highest ever capacity. SagarMala project rolled out. new greenfield ports to come up on eastern and western seaboards - Jaitley
11:46
BS View by T N Ninan: FM promises electricity,roads in every village,& cooking gas in every household, all in three years. Commendable goals
11:45
Rs 2,21,246 crore for roads and highways and railways.
11:44 Agri stocks in focus
UPL Rs 384.50 (+1.57%),
Rallis India Rs 148.35 (+1.78%),
Monsanto India Rs 1616.00 (+1.52%)GSFC Rs 62.90 (+3.88%)
Rallis India Rs 148.35 (+1.78%),
Monsanto India Rs 1616.00 (+1.52%)GSFC Rs 62.90 (+3.88%)
11:41
BS View by FMCG Editor Viveat Pinto: Govt's rural spending to push rural consumption.Positive for all cos whose sales come from rural areas
Aadhaar to be given statutory backing, says FM Arun Jaitley
To set up higher education financing agency with corpus of Rs 1000 crore
Aadhaar to be given statutory backing, says FM Arun Jaitley
To set up higher education financing agency with corpus of Rs 1000 crore
11:39
Rs 2.87 lakh crore will be given as aid to Gram Panchayats as recommended by Finance Commission It is a quantum jump of 228%
Skill India Mission - want to bring entrepreneurship. To set up 5700 multi-skill schools nationwide. To skill 1 crore youth over next 3 years
Skill India Mission - want to bring entrepreneurship. To set up 5700 multi-skill schools nationwide. To skill 1 crore youth over next 3 years
11:37
National SC/ST hub to be set up in MSME Ministry, to provide professional help to help SC/ST entrepreneurs in govt procurement policy
11:33
Most political budget speech in yrs. Tone echoes a hard Agro-povertarian swing. govt seems losing nerve early, say experts.
11:32
Catastrophic health events single largest cause of out of pocket expenditure, pushes people below BPL. Govt to launch new health protections schemed, health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior citizens
11:31
Rs 2,000 crore to meet initial cost of proving LPG connections for rural areas. Scheme to continue for 5 years to cover BPL households
Women of India have faced the curse of smoke during cooking, time to remedy this - Jaitley
Over Rs 87,000 crore allocated for rural development.
Women of India have faced the curse of smoke during cooking, time to remedy this - Jaitley
Over Rs 87,000 crore allocated for rural development.
11:30 Rewards system for rural areas that eliminate open defecation
Two digital literacy programme will cover 6,000 extra villages
Rs 38,500 crore allocated to MNREGS- Highest ever amount spend in a year
Rs 38,500 crore allocated to MNREGS- Highest ever amount spend in a year
11:29
Rs 38,500 crore allocated for MGNREGA
To provide statutory backing to Aadhar: FM
A unified agriculture platform to be dedicated to the nation on the birth anniversary of BR Ambedkar: FM
To provide statutory backing to Aadhar: FM
A unified agriculture platform to be dedicated to the nation on the birth anniversary of BR Ambedkar: FM
A dedicated irrigation fund worth Rs 20,000 crore to be set up under NABARD
First time plan expenditure has increased which is happening due to record public spending in infrastructure
11:23
FM Jaitley takes Speaker's suggestion, to read out rest of speech sitting down.
Total allocation for agri and farmer welfare is Rs 35,984 crore
Four new projects for dairy farmers, to costs Rs 850 crore
Total allocation for agri and farmer welfare is Rs 35,984 crore
Four new projects for dairy farmers, to costs Rs 850 crore
11:22
Provision of Rs 15,000 crore to ease burden on loan repayment in form on interest subvention for farmers
100 kms road construction per day currently to be stepped up.
Rs 27,000 crore to be spent on roads network
100 kms road construction per day currently to be stepped up.
Rs 27,000 crore to be spent on roads network
11:21
BSE 23,191.93 +37.63 (+0.16%)
NSE 7,037.65 +7.90 (+0.11%)
NSE 7,037.65 +7.90 (+0.11%)
11:20
Markets bounce back as Jaitley presents Budget in Parliament.
11:19
Govt implementing a unified market for agri produce, e-platform to be launched after states amend APMC Act. E-platform to be dedicated on Babasaheb Ambedkar's birth anniversary.
11:19
Rs 500 crore allocated to pulses production.
11:18
Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM
11:17
Global economy has reduced from 3.4% to 3.1% growth. Indian economy has grown to 7.6% while CPI inflation down to 5.4% - Jaitley
Allocation for AIBP at Rs 17,000 crore
Allocation for AIBP at Rs 17,000 crore
11:16
Business Standard Says: FM says public listing of general insurance companies. FY17 could be year of insurance company IPOs. Not even a single domestic insurance company is listed in India yet
11:16
Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM
11:15
Of 141 mn hectares of cultivated area, only 46% covered by irrigation. 28.5 lakh hectares to be brought under new scheme.
Agri and farmers' welfare: Need to think beyond food security to income security. WIll double income of farmers by 2022. Rs 35, 984 crore allocation
Agri and farmers' welfare: Need to think beyond food security to income security. WIll double income of farmers by 2022. Rs 35, 984 crore allocation
11:14
Agri, rural sector, health sector, education skills and job creation, infra and investment, financial sector reforms, governance and ease of business, fiscal discipline, and tax reform to reduce compliance burden
Will provide for PSU bank recapitalisation in this fiscal.
Will provide for PSU bank recapitalisation in this fiscal.
11:13
Farm, rural sector, infra, social sector to have more Government expenditure: FM
FM says that recapitalization of banks will be done during next FY
FM says that recapitalization of banks will be done during next FY
11:12
Govt to focus on passing GST and Bankruptcy laws. Statutory backing for Aadhaar platform
Govt to provide addl resource to rural and vulnerable areas
Increasing outlay on social sector programmes, 3 schemes to be focus: Crop Insurance, health insurance scheme for 1/3rd of India and BPL families to be provided with cooking gas connection helped by govt
7th Pay Commission and OROP to put burden on finances
Govt to provide addl resource to rural and vulnerable areas
Increasing outlay on social sector programmes, 3 schemes to be focus: Crop Insurance, health insurance scheme for 1/3rd of India and BPL families to be provided with cooking gas connection helped by govt
7th Pay Commission and OROP to put burden on finances
11:11
GDP growth accelerated to 7.4%: FM Arun Jaitley
We have bridged the trust deficit created by the previous government
Our forex reserves are at the highest level
CPI inflation has come down to 5.4% under our government, despite two poor monsoons
We have bridged the trust deficit created by the previous government
Our forex reserves are at the highest level
CPI inflation has come down to 5.4% under our government, despite two poor monsoons
11:10
The risk of global slowdown mounting. Must have macro stability and fiscal prudence, Must rely on Indian markets and demand, and must continue with reforms to change lives for better
Increased plan expenditure at RE stage in contrast to usual practice of reducing it
Increased plan expenditure at RE stage in contrast to usual practice of reducing it
11:09
Arun Jaitley: Let us look at our achivements compared to the last three years of the last government
NIFTY Most Active Stocks at 11:00AM
SBI Rs 163.25 (+4.7%),
AXIS Bank Rs 386.20 (-0.04%),
ICICI Bank Rs 189.45 (+2.52%),
RIL Rs 950 (-0.08%),
Maruti Rs 3360.20 (-1.44%)
Jaitley: We inherited an economy with low growth and high inflation
IMF has hailed India as a bright spot
Indian economy has held its ground firmly
Financial markets have been battered
NIFTY Most Active Stocks at 11:00AM
SBI Rs 163.25 (+4.7%),
AXIS Bank Rs 386.20 (-0.04%),
ICICI Bank Rs 189.45 (+2.52%),
RIL Rs 950 (-0.08%),
Maruti Rs 3360.20 (-1.44%)
Jaitley: We inherited an economy with low growth and high inflation
IMF has hailed India as a bright spot
Indian economy has held its ground firmly
Financial markets have been battered
11:07
Forex reserves at $350 bn.
11:06
CAD has declined to $14.4 bn dollars, projected 1.4% of GDP
Growth of GDP has accelerated - Jaitley
Growth of GDP has accelerated - Jaitley
11:05
Have managed this despite inhering weak economy. But have converted these into opportunities - Jaitley
Indian economy has stood its ground
Indian economy has stood its ground
11:03 FM Arun Jaitley takes the floor to present Budget 2016
Market cautious ahead of FM's speech; Sensex trading lower by 43 points, Nifty50 holds 7,000
11:01
Will his proposals ease the fiscal burden of average citizens, notably individual tax payers? Will the corporate sector see tax reforms?
Union Budget: 2016: Complete Coverage
Union Budget: 2016: Complete Coverage
10:38 Will be back if PM Modi carries out promised reforms, says Jim Rogers
Dalal Street veterans say Nifty upside limited, unlikely to top 7,200 after Budget
Increase in rural spending will boost demand; Adrian Mowat
M B Rajesh, CPI: Rosy picture which the Modi govt wants to paint is not reflecting on the ground, there is rural distress that has not been addressed
Acche Din means not only having subsidies for urban sector but also taking in farmers: Rahul Narvekar
Rahul Narvekar, NCP: Modi govt is urban centric, their schemes are not helping poor
Adrian Mowat: Looking for an increase in capital spending in Budget 2016 by govt
Govt should give us a Budget where numbers are honest, stimulate investment & spend wisely: Mohandas Pai
India already in a bear market for the past two years: Shankar Sharma
Increase in rural spending will boost demand; Adrian Mowat
M B Rajesh, CPI: Rosy picture which the Modi govt wants to paint is not reflecting on the ground, there is rural distress that has not been addressed
Acche Din means not only having subsidies for urban sector but also taking in farmers: Rahul Narvekar
Rahul Narvekar, NCP: Modi govt is urban centric, their schemes are not helping poor
Adrian Mowat: Looking for an increase in capital spending in Budget 2016 by govt
Govt should give us a Budget where numbers are honest, stimulate investment & spend wisely: Mohandas Pai
India already in a bear market for the past two years: Shankar Sharma
09:55
Govt needs to keep fiscal deficit in check, says Arvind Mayaram
09:55
Copies of Union Budget 2016 arrive in Parliament
09:54
CEA Arvind Subramanian and Hasmukh Adhia arrive in Parliament
09:51 Big opportunity for investors if markets correct today: S Naren
Nilesh Shah: Need a level playing field between FIIs and domestic investors & domestic capital to be part of domestic growth
Top losers in banking sector ahead of Budget 2016
Dhanlaxmi Bank Ltd.
YES Bank Ltd.
Jammu & Kashmir Bank Ltd.
IndusInd Bank Ltd.
Lakshmi Vilas Bank Ltd.
HDFC Bank Ltd.
Top losers in banking sector ahead of Budget 2016
Dhanlaxmi Bank Ltd.
YES Bank Ltd.
Jammu & Kashmir Bank Ltd.
IndusInd Bank Ltd.
Lakshmi Vilas Bank Ltd.
HDFC Bank Ltd.
09:36
Raamdeo Agrawal: Remain positive on markets with a 1 year time horizon. Markets will be at a higher level by next Budget
Rupee depreciates 10 paise against US dollar
Sensex, Nifty start on a cautious note ahead of Budget 2016
Rupee depreciates 10 paise against US dollar
Sensex, Nifty start on a cautious note ahead of Budget 2016
09:34
Ramesh Damani: Big overhand for markets are LTCG tax and fiscal consolidation, those will be the cues for bourses from Budget 2016
09:32 Budget 2016: Sectoral stocks to watch out
With the Finance Minister all set to table the Union Budget 2016 today, markets will be keenly awaiting the government's stance on fiscal consolidation, revival in investments while investors would watch out for annoucement on capital gains and reduction in corporate taxes.
Here are some of the sectoral stocks to watch out for as the Finance Minister rolls out his Budget proposals:
Focus on Bank recapitalisation will impact: SBI, Bank of Baroda, Bank of India, Canara Bank and Punjab National Bank.
Infra focus; Smart Cities: L&T, IRB Infrastructure, Sadbhav Engineering, Ashoka Buildcon, HCC, ACC, Ambuja Cements and UltraTech Cement.
Higher allocation for Research & development: Lupin, Ranbaxy, Sun Pharma, Dr Reddy's Labs, Glenmark Pharma, Biocon and Syngene
Higher allocation to agriculture will be positive for: Jain Irrigation, EPC Indutrie, Finolex Pipes and KSB Pumps.
Hike in excise duty on cigarettes: ITC, Godfrey Phillips, Golden Tobacco in focus.
Higher deduction on home loans to impact: HDFC, LIC Housing Finance, Indiabulls Housing Finance; Real estate stocks such as DLF, Godrej Properties, Indiabulls Housing, Oberoi Realty, HDIL and Sobha.
Here are some of the sectoral stocks to watch out for as the Finance Minister rolls out his Budget proposals:
Focus on Bank recapitalisation will impact: SBI, Bank of Baroda, Bank of India, Canara Bank and Punjab National Bank.
Infra focus; Smart Cities: L&T, IRB Infrastructure, Sadbhav Engineering, Ashoka Buildcon, HCC, ACC, Ambuja Cements and UltraTech Cement.
Higher allocation for Research & development: Lupin, Ranbaxy, Sun Pharma, Dr Reddy's Labs, Glenmark Pharma, Biocon and Syngene
Higher allocation to agriculture will be positive for: Jain Irrigation, EPC Indutrie, Finolex Pipes and KSB Pumps.
Hike in excise duty on cigarettes: ITC, Godfrey Phillips, Golden Tobacco in focus.
Higher deduction on home loans to impact: HDFC, LIC Housing Finance, Indiabulls Housing Finance; Real estate stocks such as DLF, Godrej Properties, Indiabulls Housing, Oberoi Realty, HDIL and Sobha.
09:27
Maruti hits new 52-week low.
PSU banks lead.
Aswani gujral says: Buy Aurobindo Pharma, DHFL; sell United Spirits
PSU banks lead.
Aswani gujral says: Buy Aurobindo Pharma, DHFL; sell United Spirits
09:24 'Short term outlook for markets remain negative'
Short term out look for the market still remains negative till nifty trades below 7252 levels & expecting targets in the range of 6800-6750 levels in short term. Medium term out look for the market remains still negative till nifty trades below 7600 levels.
08:52 Budget 2016 is likely to be a 'game-changer' from FM
Will Jaitley be able to strike the right balance between fiscal prudence and providing booster shots for growth?
Stocks in focus: Maruti, SBI, ITC, L&T and Hindalco.
Biggest question: Will Jaitley stick to fiscal prudence?
Stocks in focus: Maruti, SBI, ITC, L&T and Hindalco.
Biggest question: Will Jaitley stick to fiscal prudence?
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