Even though the corporate entities are enjoying the removal of Fringe Benefit Tax by Union Finance Ministry, this happiness is going to be a short lived one. According to the sources, the finance ministry has plans for imposing tax on the extended perks allowed by the organizations for its people ...

Union Railways Minister, Mamata Banerjee, on Thursday ruled out “corporatisation” of the country's railroad network but said that the private sector's participation can be considered for commercial use of railway land for areas like healthcare and education institutions.
"I'm ...

According to Steel Minister Virbhadra Singh, the steel industry, supported by domestic demand and the government's increased infrastructure spending, will witness a growth this fiscal. 
"The industry will see a major recovery this year and will grow at six-eight percent," Singh ...

Textiles Minister Dayanidhi Maran on Tuesday said that some more announcements on empowerment of weaker sections and facilities for the growth of medium and small-scale enterprises in the sector would be made soon. 
"We are going to converge with certain other announcements, particularly ...

The Union Budget, which was presented on Monday, has reduced the duties on large cars. A leading NGO quoted that this would increase air pollution in a big way.


In his budget speech at parliament Pranab Mukherjee reduced a "component" added to the 24% ad valorem duty on large cars ...

The union budget for 2009-10 presented by Pranab Mukherjee Monday is "positive" and "realistic" and both the business community and the common man would benefit from the budgetary proposals, leading industrialists in the country said. 
"I am reasonably happy with the ...

Tax rates have not been raised in the 2009-10 budget proposals, as economic conditions remaindifficult while tax relief for individuals would help boost consumption, Finance Secretary Ashok Chawla said in New Delhi on Monday.
The finance minister has cut the excise and customs duty due to the ...

The key index of the Indian equities markets displayed the worst perfomance of the recent weeks. The trade on Monday ended nearly with 870 points down from its last closing figure, as investors blamed lack of policy announcements and increase in minimum alternate tax on corporate for the negative ...

You will now be able to register online with any employment exchange from anywhere and at any point of time. The government has plans for modernising the employment exchanges so that job seeking becomes easier.  


“Under the project, a national web portal with common software ...

The tax-paying individuals are entitled to more benefits this fiscal. Pranab Mukherjee has eased the tax burden and has provided relief for specific groups of people like senior citizens, physically handicapped and women.


The Finance Minister, in his union budget for 2009-10 on Monday, has ...

India's defence expenditure during 2009-10 remains unchanged from Rs.141, 703 crore ($28 billion) allocated in the interim budget earlier this year. The interim figures see a hike of 34 percent over the previous year.

Finance Minister Pranab Mukherjee, while presenting the budget in the Lok ...

The National Rural Health Mission (NRHM), whose aim is to provide quality healthcare to villagers, on Monday saw its budget allocation increased by Rs.2,057 crore. 


Describing the NRHM as an "essential instrument for achieving goal of health for all", Pranab Mukherjee in his ...

In the Union Budget 2009-10 which was presented by the finance minister Pranab Mukherjee, more emphasis has been placed on providing better amenities to women and children. Concerns on security related to national food have also been taken care of. 
 
Women And Child Developments


...

These are some more proposals which were put forward by the Union Finance minister, Pranab Mukherjee, today. 


DEPB scheme for print media extended
Stimulus package for print media extended to Dec 31
Hike in allocation for management of Mumbai Floods
New project for ...

Although the banking and insurance sector will be kept as public, the government has some other plans which were put forward during today’s budget session:-


To hike the promoter shareholding in PSUs
To encourage people participation in disinvestment
Banks and insurance to ...

According to the Budget 2009-10, India will have a better infrastructure in the coming years. Following are some of the recommendations put forward by the government of the revival of Indian infrastructure:-


To set up IFFCL for providing financial assistance to infrastructure companies
...

Farmers have now yet another reason for rejoicing. The union Budget presented for this fiscal year has given more priority to the issues related to farmers as well as others who belong to the agricultural sector. 

Some of these agricultural reforms put forward by the union finance minister ...

The union budget for the current fiscal was presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Monday. These are the ponts covered by him in the budget;-

No change in corporate tax rate
Income tax exemption limit for senior citizens increased by Rs.15,000, for women and ...

Even while the Finance Minister Pranab Mukherjee was amidst his budget presentation, the key index of the Indian equities markets dipped by 512 points from its last closing figure.


Around 12.25 p.m., the Bombay Stock Exchange (BSE) index that had opened at 14,962.12 points, was ruling at ...

The Union Minister for Finance, Pranab Mukherjee, presented the budget for the fiscal year 2009-10. The budget has called for various reforms across tax, infrastructure as well as other aspects.

The exemption limit for income tax payers has been increased by Rs. 10,000 across all the slabs. The ...

The Finance Minister Pranab Mukherjee has raised the tax exemption limit for senior citizen from Rs 225,000 to Rs 240,000, for women from Rs 180,000 to Rs 190,000 and for all other Rs 1,50,000 to Rs 1,60,000. 
The Finance Minister has made provisions for abolishing Fringe Benefit tax, ...

The government on Monday called for an enhanced pension scheme for the soldiers and junior commissioned officers which will require an additional expenditure of Rs.2, 100 crores per year.


"The decision will benefit 12 lakh pensioners. The allowances for the war wounded and disabled is ...

The government on Monday increased the allocation for the flagship rural job scheme by 144% to Rs.39, 000 crore.


"NREGA (National Rural Employment Guarantee Act) is a magnificent success. The government is committed to providing a wage of Rs.100 a day to rural households in convergence ...

The government of India has plans to change the method of subsidizing fertiliser prices. This will be done by shifting to a "nutrient based subsidy regime" from the current "product pricing regime". This was put forward by Finance Minister Pranab Mukherjee announced while ...

The following are revival reforms for infrastructure of India as put forward in the Union Budget 2009-10. 


Allocation for Bharat Nirman up 45% 

The budgetary allocation for the flagship Bharat Nirman (Build India) programme has been increased by 45%. This is a program which ...

According the Union Finance Minister, government has plans for simplifying the tax structure during the next four years.


The income tax department has been advised for introducing a simplified version of the tax filing form Saral, which will be known as Saral 2. 


The Union Finance ...

The Union Finance Minister Pranab Mukherjee on Monday revived the government's divestment programme. He has promised to bring equity of the public enterprises in the hands of general public.


He also added that in areas like banking and insurance, specifically, the majority control of the ...

The following are the highlights of Budget 2009-10. 

Highlights
“It is a mandate that we accept with humility and will do all we can for the welfare of the nation”.

Strong mandate for growth
Sensitive to the challenges of a young India
The govt has to sustain ...

Some of the highlights of the Union Budget 2009-10 which is being presented by the Union Finance Minister Pranab Mukherjee in the Lok Sabha on Monday are:-

Will allocate sufficient funds for infrastructure development
Allocation for national highways development stepped up by 23 ...

The Union Finance Minister Pranab Mukherjee started presenting the budget for this fiscal in the Lok Sabha on Monday with a promise that this government will do to ensure inclusive growth and address the growing aspirations of the country's young population.


The 73-year-old politician said UPA ...