Aluminium makers hail hike in customs duty

Aluminium producers have welcomed the move to hike basic customs duty (BCD) on primary aluminium from five per cent to 7.5 per cent and on aluminium products from 7.5 per cent to 10 per cent in the Union Budget 2016-17. "On behalf of all the primary, secondary and downstream aluminium producers, I thank the Government of India for its proposal to increase the (BCD) on primary aluminium from five per cent to 7.5 per cent and on aluminium products from 7.5 per cent to 10 per cent. This move will help Indian aluminium industry by checking influx of cheap imports," said T K Chand, chairman and managing director, National Aluminium Company (Nalco). Chand was recently appointed the president of the Aluminium Association of India (AAI).The aluminium industry, however, expected a five per cent increase in BCD, Chand said. This Budget is a balanced one with focus on growth, he added. KSS Murthy, general secretary of AAI, said that with the election of Chand as president, AAI will have assertive

Business Standard

Finance Minister Arun Jaitley presenting the Annual Budget 2016-17 in the Lok Sabha

The euphoria over the thrust towards the agriculture in the Union Budget presented by the Union Finance Minister is missing in Punjab and Haryana. The states may not gain much from the announcements made in the budget statement. The projection of doubling the farm income by 2020 cannot be achieved here since the two states have a high yield of 10 -12 tonne per acre. According to the economists, the average yield here is comparable to the yield in the international farming and cannot be increased substantially.Thus raising the income to this extent may not be plausible.Talking to Buisness Standard, Manpreet Badal, and former Finance Minister of Punjab said that doubling the income in six years means to achieve a 15% year-on-year growth in agriculture. This cannot be achieved in a short span of time. There is a need to wean away the people from agriculture to other sectors and arm them with skillsets in Punjab". Punjab has already refused to accept the Crop Insurance Scheme of the Centre

Punjab and Haryana may not gain from the thrust on agriculture in Union Budget

Arun Jaitley

Priorities include the amendments of the Companies Act and the Motor Vehicle Act

10 laws that Jaitley wants to change

Govt mulls raising FDI cap to 100% in DTH, cable networks

The finance minister announced a reduction of 10% customs duty on digital head-ends and set top boxes, which will help lower set top box prices and consequently lower capex

Budget 2016: Custom duty reduction on STBs to help lower customer acquisition cost

Finance Minister Arun Jaitley along with his budget team leave from North Block to meet President before presenting the Union Budget 2016-17, in New Delhi

The government has targeted reducing the fiscal deficit to 3.9% of GDP in the current financial year

India needs to sustain growth amid global slowdown: Arun Jaitley

IANS

Tata Nano AMT

Other car makers such as Maruti, Honda and Toyota to announce details of increase on Wednesday

Budget 2016 impact: Tata Motors hikes prices by up to Rs 35,000

The govt announced in the Budget yesterday that withdrawals from EPF and NPS to have same tax rates

EPF tax: Govt clarifies its stand in 11-point press release

If the govt wanted to incentivise NPS, tax should have been on insurance products, and not EPF

Why Jaitley's EPF tax is godsend for insurance plans and ponzis

Plan to raise capital gains tax period spooks many

From 40%, public provident fund will now be 100% exempt. For EPF,  the withdrawn amount would be totally tax exempt if it is re-invested in annuity pension products

Budget 2016: PPF remains tax exempt; EPF interest post April 1 to be taxed

Press Trust of India

Anil Agarwal

BS Jury: Maintaining balance between fiscal prudence and rural, infra push

Sanjay Nayar

Gautam Adani

Ridham Desai

Kumar Mangalam BirlaChairman, Aditya Birla GroupIt was good to see the finance minister stick to the deficit reduction trajectory, yet deliver a Budget squarely focused on inclusive growth with employment generation. It made a bold financial commitment for the infrastructure sectors, especially transport. There is much-needed focus on the farm sector, with a goal to double incomes in the next six years. The fiscal prudence reflected in the Budget should reassure investors about India's macroeconomic stability in a globally turbulent environment. The move to provide a statutory backing to Aadhaar is welcome. One sees the effort to break down some of the roadblocks that have snagged the economy in the last few years, such as stalled PPP projects, NPAs and pending tax litigations. These should help India overcome legacy issues and take a big leap forwardAdi GodrejChairman, Godrej GroupFinance Minister Arun Jaitley's 2016-17 Union Budget was a balanced one. The good points were containing

Why Arun Jaitley's move to tax EPF withdrawl is morally wrong

Rather than correcting a bad instrument like NPS, Jaitley and his team of experts preferred to make all pension plans equally bad

Why Arun Jaitley's move to tax EPF withdrawal is morally wrong

Defence allocation lowest since 1962

The defence allocation, at Rs 2,49,099 crore, was only marginally higher than last year's Budget Estimates of Rs 2,46,727 crore

Defence allocation down to about 1.65 % of GDP, lowest since the 1962 China war

FM to Rajan: It's your turn now

Budget meets additional spending burdens while staying on the fiscal consolidation path; big push for rural India

FM Arun Jaitley to Raghuram Rajan: It's your turn now

Gold: Jewellery, refining set to lose lustre

Higher duties could squeeze the sector's margins further

Budget 2016: Infra, rural push may boost core sector

Infra, rural push may boost core sector

Also, higher allocations for rural schemes should push demand for consumer goods

Corporate tax: Jaitley's big push for small businesses

Rs 4,300-crore dividend tax blow for promoters

Subsidies: Aadhaar to get legal tag for larger role

Bill for targeted delivery of subsidies to be introduced in Budget session

Tax on pension corpus: Jaitley just shrank your retirement kitty

Withdrawals from EPF and NPS to have same tax ratesTaxpayers would not be too happy at Finance Minister Arun Jaitley's move to tax employees' provident fund (EPF) and other recognised PFs on contributions made on or after April 1.PF schemes hitherto enjoyed the tax status of exempt-exempt-exempt (EEE, meaning no tax on contribution, interest or at withdrawal). The change has been done to put it on a par with the tax rule for the National Pension System (NPS), which is EET or exempt-exempt-tax."The expectation was that the NPS scheme will be brought under the EEE regime, in line with the EPF and PF schemes. This move might help boost investment in NPS," said Homi Mistry, partner, Deloitte Haskins & Sells.EPF would pay 8.8 per cent in 2015-16. NPS (Scheme E Tier-I) had returned 8.78 per cent annualised in the past three years. In the past year, it returned -12.91 per cent. What the Budget proposes is that 60 per cent of what you finally withdraw from EPF will be taxed. In NPS, 60 per

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Budget and impact: Mixed market signals

Nifty fell in post-budget trade but some stocks were up. EY analyses their performance

Jaitley bats for easier tax regime

Finance minister proposes one-time scheme for dispute resolution for past cases under retrospective tax

Budget 2016: With public sector push, Jaitley hopes to boost private investment

Railway, roads in focus; action plan being drawn up to revive unserved and underserved airports

Budget 2022-23 News: Get latest budget 2022 news updates and headlines on India budget 2022, railway budget 2022, healthcare budget of India, defense budget of India along with updates of latest income tax slab rates with business-standard.com.

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