Budget Impact

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Budget 2015: Govt gives new tax benefits for REITs, InviTs

Last Updated: Saturday, February 28, 2015, 18:25

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.

Govt earmarks Rs 75 crore for electric vehicles in 2015-16

Last Updated: Saturday, February 28, 2015, 14:11

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.

Govt to allow overseas investments in AIFs

Last Updated: Saturday, February 28, 2015, 14:08

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.

Coal auction to bring revenue windfall for states: Jaitley

Last Updated: Saturday, February 28, 2015, 14:03

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.

Wealth tax abolished; extra 2% surcharge on super rich

Last Updated: Saturday, February 28, 2015, 13:56

Asking rich and wealthy to pay higher tax, Finance Minister Arun Jaitley today abolished the wealth tax but increased the surcharge to 12 percent on individuals earning Rs 1 crore and above annually and on firms with an annual income of Rs 10 crore or more.

AP becomes first state to execute NOFN on its own

Last Updated: Saturday, February 28, 2015, 13:24

Andhra Pradesh has become the first state to opt for executing the National Optical Fibre Network (NOFN) on its own and the telecom department will reimburse the cost for the same, Finance Minister Arun Jaitley said Saturday.