Govt to encourage corporatisation of public sector ports

Last Updated: Saturday, February 28, 2015, 14:01

In order to ensure social security and promote public health, the government Saturday proposed a slew of schemes like Pradhan Mantri Suraksha Bima Yojna, ATAL Pension Yojana and tax incentives for National Pension System.

Corp tax to be cut by 5 % in 4 yrs; no change for individuals

Last Updated: Saturday, February 28, 2015, 13:59

Finance Minister Arun Jaitley today announced a 5 percent reduction in corporate tax over next four years, abolished wealth tax and replaced it with an additional 2 percent surcharge on super-rich individuals, while increasing service tax that will result in higher cost of variety of services.

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.

Budget high on 'Investment','Ease of Doing Business' literally

Last Updated: Saturday, February 28, 2015, 13:50

India may rank poorly on 'ease of doing business', but it emerged as a high-focus area in Finance Minister Arun Jaitley's first full-fledged Budget today, literally, with as many as ten mentions.

India to introduce gold deposit accounts, no mention of import duty

Last Updated: Saturday, February 28, 2015, 13:48

India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign bond as an alternative to buying the metal, moves that are likely to cut imports into the biggest gold consumer.

India to raise import tax on steel to counter China threat

Last Updated: Saturday, February 28, 2015, 13:45

India will raise the import duty on steel by 5 percentage points from April 1, Finance Minister Arun Jaitley said on Saturday, to stem a flow of cheap supplies from China and Russia.

Union Budget: 'No relief for middle class, low income groups, says Congress

Last Updated: Saturday, February 28, 2015, 13:43

The Congress on Saturday dubbed the Union Budget presented by Finance Minister Arun Jaitley in the Lok Sabha as `jugglery of words`, and said that there has been no relief for the middle class and the lower income groups.

Sensex trades flat after budget presentation

Last Updated: Saturday, February 28, 2015, 13:16

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), Saturday traded flat in the afternoon trade session after Finance Minister Arun Jaitley presented budget 2015-16 in the Lok Sabha.

AP becomes first state to execute NOFN on its own

Last Updated: Saturday, February 28, 2015, 13:12

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 today.

FM proposes setting up of autonomous banks board bureau

Last Updated: Saturday, February 28, 2015, 13:10

In order to improve governance of public sector banks, Finance Minister Arun Jaitley today proposed setting up autonomous banks board bureau for helping lenders raise capital for meeting expansion needs.

Expert views: India budget goes for growth, delays cut in fiscal deficit

Last Updated: Saturday, February 28, 2015, 13:08

Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.