Footwear industry says duty cut to help competitiveness
The Budget proposal to reduce the excise duty on footwear with leather uppers and having retail price of over Rs 1,000 has been welcomed by the industry, saying the move will help increase competitiveness.
Feb 28, 2015, 19:40 PM IST
Budget: Delhi Metro gets 22 per cent hike
The allocation of funds for Delhi Metro in the Union Budget has seen a 22 percent jump with it being alloted over Rs 4,200 crore as its network extends deeper into the National Capital Region.
Feb 28, 2015, 18:56 PM IST
Budget 2015 evokes mixed reaction among real estate players
The real estate industry, which had pinned high hopes on the Union Budget for revival of the liquidity-starved sector, welcomed some of the proposals of Finance Minister Arun Jaitley, but said there was no clarity on development of 100 smart cities.
Feb 28, 2015, 18:21 PM IST
Budget 2015: Service tax exemption to mutual fund agents withdrawn
Investment in mutual funds may turn expensive as the government on Saturday withdrew service tax exemption given to MF agents of asset management companies (AMCs).
Feb 28, 2015, 18:21 PM IST
Five mega power projects positive for copper industry
The government's proposal to set up five new 4,000 MW ultra mega power projects, entailing investments of around Rs 1 lakh crore, is a big positive for the copper industry, said International Copper Association of India (ICA).
Feb 28, 2015, 18:05 PM IST
Budget focuses on road network on borders with China, Pak
NDA government has in its infrastructure development initiatives focused on connecting with all weather roads along borders with nearly 100 percent increase in allocation for construction of roads along Sino-India and Indo-Pak boundaries.
Feb 28, 2015, 17:49 PM IST
MEA gets 19% hike in allocation
The foreign ministry has seen a good hike of 19 percent in its fund allocations in the Union Budget 2015-16 as the main thrust remained towards various development assistance projects implemented by India in neighbouring countries including Bhutan and Afghanistan.
Feb 28, 2015, 17:30 PM IST
Jaitley favours procurement law to prevent scams
Union Finance Minister Arun Jaitley Saturday advocated a procurement law to check wrongdoings by officials in public procurement.
Feb 28, 2015, 17:19 PM IST
Budget: SIT on blackmoney gets 10 percent hike
The Special Investigation Team (SIT) on black money has been accorded an about 10 percent hike in the latest budgetary allocation for expanding its infrastructure and procuring logistics to effectively conduct its task of tackling the menace.
Feb 28, 2015, 17:16 PM IST
Budget 2015: Air travel becomes costlier, Ai India to get Rs 2500 crore
First and business class air travellers would find flying costlier from the next fiscal with an almost 2 percent hike in service tax rate proposed in the general budget, which also earmarked Rs 2,500 crore for ailing Air India in 2015-16.
Feb 28, 2015, 17:04 PM IST
MHA gets Rs 62,124.52 cr in budget, a 10.2% jump
Home Ministry was today allocated Rs 62,124.52 crore in the Union Budget, a modest 10.2 percent jump over the outlay in last fiscal, with special focus on safety of women, rehabilitation of Kashmiri Pandits and internal security.
Feb 28, 2015, 16:20 PM IST
Over Rs 208 crore earmarked for training of babus
Over Rs 208 crore has been allocated to the Ministry of Personnel for 2015-16 to augment its training facilities for bureaucrats.
Feb 28, 2015, 15:38 PM IST
Subsidy bill cut by 10% to Rs 2.27 lakh crore for 2015-16
Subsidies on food, fertiliser and petroleum have been reduced by over 10 percent to Rs 2.27 lakh crore for 2015-16, mainly due to a sharp cut in petroleum subsidies.
Feb 28, 2015, 15:35 PM IST
Budget: SIT on blackmoney gets 10 per cent hike
The Special Investigation Team (SIT) on black money has been accorded an about 10 percent hike in the latest budgetary allocation for expanding its infrastructure and procuring logistics to effectively conduct its task of tackling the menace.
Feb 28, 2015, 15:30 PM IST
We will build six crore toilets: Jaitley
The central government will achieve the target of building six crore toilets across the country under the Swachh Bharat Abhiyan, Finance Minister Arun Jaitley said while presenting the Union Budget 2015-16 Saturday.
Feb 28, 2015, 15:21 PM IST
Infrastructure, social spending priority areas: FM
The fiscal deficit of 3 percent will be met in three years instead of two, Finance Minister Arun Jaitley said in a post-Budget interview on Saturday.
Feb 28, 2015, 15:10 PM IST
Budget 2015: Govt gives new tax benefits for REITs, InviTs
In a fillip to investments in realty and infrastructure sectors, Finance Minister Arun Jaitley today rationalised capital gain tax regime for the sponsors of newly-created business structures REITs and INViTs.
Feb 28, 2015, 14:14 PM IST
Govt earmarks Rs 75 crore for electric vehicles in 2015-16
Finance Minister Arun Jaitley today earmarked Rs 75 crore for faster adoption and manufacturing of electric vehicles in 2015-16, a step which electric vehicles makers termed as a good beginning.
Feb 28, 2015, 14:11 PM IST
Govt to allow overseas investments in AIFs
Providing a fresh avenue for foreign investors, the government today announced allowing overseas investments in Alternative Investment Funds (AIFs) -- a new class of pooled-in investment vehicles for real estate, private equity and hedge funds, among others.
Feb 28, 2015, 14:08 PM IST
Coal auction to bring revenue windfall for states: Jaitley
Stating that auction of coal mines is one of the top three achievements of the government in its nine months' period, Finance Minister Arun Jaitley today said the process would bring several lakhs of crores of rupees to the kitty of coal-bearing states.
Feb 28, 2015, 14:03 PM IST
