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

Business Standard

Smart sarkar plans giant leap from illiteracy to digital literacy

Bill for targeted delivery of subsidies using Aadhaar to be introduced in the current session

Brave new world: Promises of 3-year tax holiday, one-day registration delivered

With Standup India, govt introduces unique affirmative action in start-ups for backward castes

Bond market cheers as government stays course on fiscal discipline

Currency, bonds: Rupee beats global storm

Yield on Government of India bonds falls by 15 basis points, rupee strengthens at 68.41 against the dollar

Tight-fisted Jaitley offers only promises to debt-ridden banks

Rs 25,000 crore may be too little too less for sick PSBs; consolidation, privatisation of IDBI soon

Budget 2016: Allocation doubled to give farmers a sense of security

A farmer sprays a mixture of fertilizer and pesticide onto his wheat crop on the outskirts of Ahmedabad

Two consecutive droughts force govt to raise allocation for agriculture and farmers' welfare by 94%

Market players get mixed bag

STT up on options, 10% tax on dividends for super-rich; FDI cap in bourses trebled to 15%

As Budget fails to lift stocks, it's back to global cues

Like any Budget Day, the stock prices gyrated, and the Sensex swung 850 points, touching a low of 22,495 and a high of 23,343

No big bang measures

Focus on rural economy, infra, affordable housing should help; but fiscal deficit goal challenging

Finance Minister Arun Jaitley arrives at the parliament to present the budget for the 2016/17 fiscal year, in New Delhi (pic: Reuters)

Govt eyes re-election in its tilt to farms

Promises gas connection to below poverty line families, power and road connectivity to all villages by 2018-19

FM bets on disinvestment, spectrum and strategic sales revenue

Union Minister for Finance, Arun Jaitley giving final touches to the Union Budget as MoS Finance Jayant Sinha and his full budget team look on at North Block in New Delhi

Govt to adopt a comprehensive approach for efficient management of its investment in CPSEs

Belt tightening: Jaitley sticks to fiscal prudence

To set up committee to re-assess statutory targets

Foreign Direct Investment: Rules eased for insurance, pension, securities and NBFCs

Instead of FIPB, Irdai can now approve increase in FDI in insurance

Wardrobe

Cess introduced on several goods, services to add to tax revenue kittyPlanning to buy a car, jewellery or branded clothes? Do it now. From April 1, the prices of these goods might see an increase.Similarly, aerated drinks, mineral water, travel packages, coaching classes and beauty parlour services might also cost more, as the Budget has proposed increasing service tax and cess on such items."There is an estimated net rise in tax revenue by almost Rs 20,000 crore," said Rajeev Dimri, leader-indirect tax, BMR & Associates LLP. "This will come from the multiple cesses and will add to the cost of transaction for consumers."A new cess called the Krishi Kalyan Cess (KKC) has been introduced on all taxable services at 0.5 per cent. This will effectively increase the service tax rate to 15 per cent. "But, this is not uniform and one has to see what the exemptions are," said M S Mani, senior director, Deloitte in India.For instance, in case of tour operators, the abatement on service tax w

Household budget: Cars, branded clothes, air travel to cost more

NHAI to raise Rs 15,000 crore through bondsNational Highways Authority of India (NHAI) will raise Rs 15,000 crore through bonds in 2016-17. This will add to the government's efforts to boost roads and highways capacity in line with the rapid rise in road construction. India's highest-ever kilometerage of new highways were awarded in 2015.Total infrastructure outlay stands at Rs 2.2 lakh croreThe outlay for the infrastructure sector in 2016-17 is  Rs 221,000 crore. This includes Rs 218,000 crore of outlay for the roads and the railways sectors put together. More than 10,000 km of new highways will be awarded in 2016-17. Also, more than 50,000 km of state highways will be taken up for upgradation.Rural jobs scheme gets Rs 38,500 croreA sum of Rs 38,500 crore has been allocated for Mahatma Gandhi National Rural Employment Guarantee Scheme in 2016-17. Under the scheme, cluster facilitation teams will be set up to ensure water conservation and natural resource management, to tackle issues o

Budget Nuts & Bolts

Arun Jaitley

Interview with Finance Minister Arun Jaitley on Budget 2016

I would rather be conservative in my targets and improve: Arun Jaitley

BS Reporter

A road map for lowering of corporate tax rateAs part of the plan to reduce corporate tax from 30 per cent to 25 per cent: Accelerated depreciation will be limited to 40 per cent from April 1, 2017; deductions for research to 100 per cent from April 1, 2020; Section 10AA for new SEZ units will be available to units that start activity by March 31, 2020.Reduced corporate tax for new manufacturersNew manufacturing companies incorporated on or after March 1, 2016, are to be given an option to be taxed at 25 per cent plus surcharge and cess, provided they do not claim profit-linked or investment-linked deductions and do not avail of investment allowance and accelerated depreciation.Incentives for setting up of start-upsTo encourage start-ups, 100 per cent deduction of profits for three out of five years will be allowed for units set up over April 2016-March 2019. But, MAT will apply. Capital gains will not be taxed if invested in notified 'fund of funds' and by individuals in start-ups in w

Budget in 2 minutes

Corporation tax: FY17 might see 1-1.5% cut

Professionals can do away with the need to maintain account books and audits

Presumptive taxation: Compliance route eased for small biz

Finance Minister Arun Jaitley addressed a post-Budget press conference, along with Minister of State for Finance Jayant Sinha, all secretaries in the finance ministry and Chief Economic Advisor Arvind Subramanian. Later, he also had a separate interaction with reporters. Excerpts from both events:On consolidation of state-owned banksJaitley: The first and immediate agenda is to strengthen the banks. We will strengthen them by recapitalising the banks. Thereafter, we are willing to look at consolidation among subsidiaries, consolidation of subsidiaries with the principal bank, consolidation of a weak bank with a strong bank subject to an overall 52 per cent discipline that we have laid down for ourselves.On further capitalisation of banksJaitley: What I have announced today (Monday) is not the last word or last amount as far as recapitalisation is concerned. Therefore, something more will happen.On tax rebatesRevenue Secretary Hasmukh Adhia: Tax rebate has been increased from Rs 2,000 t

'Budget is not the last word on PSU banks' recapitalisation'

Image via Shutterstock

Higher fund allocation towards roads, electrification, coupled with revised dispute mechanism system, augur well for the sector

Budget gets a thumbs up from infrastructure companies

Budget 2016: Little cheer for upstream industry

The much-awaited demand from exploration & production industry to reduce Oil Industry Development Board cess from Rs 4,500 per tonne to ad valorem has been met this Budget

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.

Page 135 - Budget 2022 News