Time not right to raise taxes, says finance secretaryNEW DELHI - Tax rates were not raised in the 2009-10 budget proposals as economic conditions remained difficult while tax relief for individuals would help boost consumption, Finance Secretary Ashok Chawla said here Monday. Space programme gets boost with 40 percent more fundsNEW DELHI - India’s space research programme will get a boost as the union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday has given a 40 percent hike in fund allocation for the Indian Space Research Organisation (ISRO). India to aid Sri Lanka’s displaced, Karunanidhi thanks PranabNEW DELHI/CHENNAI - Concerned over the plight of the displaced in Sri Lanka’s northeast, Finance Minister Pranab Mukherjee Monday announced Rs.500 crore ($100 million) for the rehabilitation and relief of the island nation’s internally displaced persons (IDPs). Government to set up another panel on oil pricingNEW DELHI - The government will set up another expert group on oil pricing, barely a year after the B.K. Chaturvedi committee had submitted its report that linked domestic prices of petroleum products to international rates. Excise duties for big cars reducedNEW DELHI - The government Monday reduced duties on large cars while unveiling the 2009-10 budget proposals. A leading NGO said this would increase air pollution in a big way. Sensex slips 870 points as budget disappoints (Roundup)MUMBAI - In its worst performance in recent weeks, a key index of the Indian equities markets ended trade Monday nearly 870 points down from its last closing figure, as investors blamed lack of policy announcements and increase in minimum alternate tax on corporates for the negative reaction. AAI gets Rs.99 crore for developing airportsNEW DELHI - Out of a total plan outlay of Rs.12,165 crore for the civil aviation ministry, a sum of Rs.190 crore will be provided as budgetary support to various organisations under the ministry, the government said Monday after Finance Minister Pranab Mukherjee presented the annual budget in Parliament. Bangalore’s poor give thumbs up to Pranab’s budgetBANGALORE - Bangalores urban poor, who reside mostly in slums, have hailed Finance Minister Pranab Mukherjees budget as pro-poor. Economic revival, ‘aam admi’ focus of India’s budget (Second Lead)NEW DELHI - Seeking to address what he described as triple challenges, Finance Minister Pranab Mukherjee Monday presented a revival-oriented budget with more funds for welfare schemes and infrastructure, a promise to restore India’s high economic growth and better delivery mechanisms to reach the fruits of development to the poorest. Budget a fair effort to achieve 9 percent growth: Moody’sNEW DELHI - The union budget may not be a “please all” budget, but it is a fair effort by the government to achieve 9 percent growth while coping with the challenge of 6.8 percent fiscal deficit, says the research arm of Moody’s. Budget gives fillip to R&D in scienceNEW DELHI - Research and development (R&D) programmes in science and technology were in focus in the union budget presented Monday, with special emphasis on nano technology and earth and atmospheric sciences. Higher education gets Rs.40 bn more than last yearNEW DELHI - Keeping its promise to boost higher education in India, the union budget 2009-10 Monday allocated the sector over Rs.40 billion more than the last fiscal, including a package of over Rs.10 billion for the implementation of quota for other backward castes (OBCs). Budgetary support for developing export market hikedNEW DELHI - With the exports dipping for the second consecutive month in May, the allocation for the market development scheme for exporters has been increased 148 percent to Rs.124 crore, Finance Minister Pranab Mukherjee said while presenting the union budget for 2009-10 in the Lok Sabha Monday. West Bengal welcomes Aila grant, but says money ‘insufficient’KOLKATA - The allocation of Rs.1,000 crore in the union budget Monday for rebuilding the infrastructure damaged by Cyclone Aila in West Bengal was welcomed by the state government and NGOs working there, but they said the money was insufficient. Budget has many schemes for common manNEW DELHI - In keeping with the United Progressive Alliance (UPA) government’s inclusive growth mantra, Finance Minister Pranab Mukherjee Monday announced a slew of schemes for the aam aadmi (common man). Andhra industry fears losing KG basin gasHYDERABAD - The national gas grid proposed in the union budget by Finance Minister Pranab Mukherjee Monday triggered fears in the Andhra Pradesh industry that the gas found in the Krishna-Godavari (KG) basin might go out of the state, starving the local units. Rs. 500 crore allocated for rehabilitation of internally displaced persons of Sri LankaNEW DELHI - Finance Minister Pranab Mukherjee has proposed to allocate Rs. 500 crore for the rehabilitation of the internally displaced persons and reconstruction of the Northern and Eastern areas of Sri Lanka. Mukherjee presents budget for continuityNEW DELHI - Presenting a budget for continuity that met some of the expectations of the common man, Union Finance Minister Pranab Mukherjee on Monday kept his focus firmly on infrastructure, skills development and promotion of inclusive growth, while dampening the mood by announcing that fiscal deficit would close to seven percent in 2009-10. Extension of stimulus package for print media till December 31NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the stimulus package given to the print media in February 2009 has been further extended for another six months from June 30 to December 31. Outlays for Commonwealth Games stepped up to Rs. 3,472 croreNEW DELHI - Finance Minister Pranab Mukherjee has proposed to substantially enhance the allocations for the Commonwealth Games 2010 from Rs. 2,112 crore in the interim budget to Rs. 3,472 crore. Provisions for zonal centres in Rs.700 crore culture budgetNEW DELHI - The government has earmarked Rs.700 crore for the ministry of culture with more allocations for zonal cultural centres, the Sangeet Natak Akademi, Lalit Kala Akademi, Sahitya Akademi, the National School of Drama, the Asiatic Society, the National Gallery of Modern Art and the Archaeological Survey of India. IT professionals of Bangalore have mixed feelings on budgetBANGALORE - Youngsters in India’s IT hub Bangalore, who have been hugely affected by the global economic recession due to large scale job losses and lack of newer employment opportunities, have expressed mixed feelings over Monday’s union budget. Donations to electoral trusts to get tax exemptionNEW DELHI - Donations to electoral trusts will be allowed a 100 percent deduction from the income of the donor for income tax purposes, Finance Minister Pranab Mukherjee announced here Monday in the union budget for 2009-10. Life insurers disappointed with budgetCHENNAI - The union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday has disappointed the domestic life insurance sector. Police modernization gets Rs.430 crore budgetary boostNEW DELHI - Finance Minister Pranab Mukherjee Monday proposed an additional sum of Rs.430 crore (Rs.4.3 billion), over and above the provisions in the interim budget, for the modernization of state police forces and also earmarked Rs.2,284 crore (Rs.22.84 billion) for construction of fences, roads and flood lights along the international borders. Mega textile and carpet clusters to be set upNEW DELHI - The government will set up mega industrial clusters in five states to boost the traditional textile and carpet industries and generate “thousands of jobs”, Finance Minister Pranab Mukherjee said Monday. Budget to recapture rhythm of growth: PMNEW DELHI - Prime Minister Manmohan Singh Monday emphasised that the overall strategy of the budget was to ensure that India recaptures the rhythm of accelerated growth despite the recessionary tendencies in the world economy. Nothing in budget for Kerala diaspora: MinisterTHIRUVANANTHAPURAM - The union budget for 2009-10 presented in the Lok Sabha Monday offered nothing to the non-resident Keralites (NRKs), who were hit hard by the slowdown in the Middle East and other countries, Kerala Finance Minister Thomas Isaac said. Budget evokes mixed reactions in OrissaBHUBANESWAR - The budget has evoked a mixed response in Orissa with some praising Finance Minister Pranab Mukherjee for taking care of the common man and others alleging that he has not given due attention to this impoverished state. Full marks to Pranab: Swraj PaulLONDON - Caparo Group chairman Swraj Paul Monday gave a hefty endorsement to Finance Minister Pranab Mukherjee’s budget, saying it would help India’s rural poor at a time of global recession. |
Topics
Poll Loading ...Latest TweetsBudget
Latest Friend FeedsBudget
|
