Continuing its focus on social security, the Union Budget announced an assured pension scheme for senior citizens.
That capital gains tax on equities remained unchanged was a big relief for equity investors as was the fact that none of the existing income tax exemptions were extinguished.
Government’s move to enhance rural spending through welfare schemes like MGNREGA and reduction in tax rate on basic income slab would help drive demand for products, say leading FMCG firms.
Apex body of chartered accountants ICAI today said the stringent and bold measures proposed in the Union Budget would ensure transparency in electoral funding.
The government today announced extension of tax exemption on contributions to Chief Minister’s Relief Fund and Lieutenant Governor’s Relief Fund.
Gadkari also expressed hope that tax exemption on Masala Bonds will help mobilise more investments.
Neighbouring states like Andhra Pradesh and Chhattishgarh have been allocated Rs 3,406 crore and 3,676 crore respectively, sources said.
Real estate developers, who have been badly affected by the demonetisation move, today said it’s a “good Budget” for the sector
The Environment Ministry got an increase of nearly 19 per cent in its budgetary allocation for the next fiscal even as environmental bodies said that Union Budget has failed to acknowledge the problem of pollution.
In a bid to promote gas-based economy, Finance Minister Arun Jaitley today halved the import duty on liquefied natural gas (LNG) to 2.5 per cent.
Union Budget 2017: for the year to March 2018 offers hikes in government spending and cuts in taxes as Prime Minister Narendra Modi promises to help the poor and to win back the votes of those hit by his crackdown on “black money”.
Party president Yogendra Yadav in a Kisan Sansad held at Jantar Mantar said farmers had been hoping for relief in the Budget as they were hit by notes ban but failed to derive anything from it.
Seeking to assuage concerns of overseas investors, the government today announced relief for well-regulated FPIs from tax liability arising out of sale of assets or shares in a foreign company
In the Budget for 2017-18, the government has sought to lower the tax burden on small tax payers with income in the lowest slab of Rs 2.5-5 lakh by halving their tax rate to 5 per cent.
Former Prime Minister Manmohan Singh today took a dig at Finance Minister Arun Jaitley over his remark on demonetisation, saying there is no indication as to what makes him convinced that its effect will be temporary and not affect the growth of the economy.
As with the presentation of the Union Budget 2017, Finance Minister Arun Jaitley made it easier for the small tax payers, the budget has however proposed a fee for delayed filing of income tax return.
Tamil Nadu Chief Minister O Panneerselvam today dubbed the budget as a “difficult balancing task” welcoming several of its features
He said that over 90 per cent of the total FDI is coming through automatic route and only 10 per cent has to go through the Foreign Investment Promotion Board (FIPB).
In the Union Budget 2017-18, Jaitley said Chief Minister’s Relief Fund (CMRF) and Lieutenant Governor’s Relief Fund LGRF are of the same nature as the Prime Minister’s National Relief Fund at the level of state or the union territory.
Hailing the Union Budget’s focus on rural and infrastructure sectors, the Indian Broadcasting Foundation said it would provide impetus to the broadcasting sector
Vice Admiral Girish Luthra, Flag Officer Commanding-in-Chief Western Naval Command inaugurated the Indian Naval Air Enclave in suburban Santacruz here today.
The general insurance industry today hailed the Union Budget and welcomed the government’s decision to increase the coverage under the Pradhan Mantri Fasal Bima Yojana from 30 per cent to 40 per cent in 2017-18 and 50 per cent in 2018-19.
Stating that the union budget presented today is not growth oriented, Karnataka Chief Minister Siddaramaiah has called it an “incremental budget ” and not growth oriented.
The allocation for Nepal has been increased from Rs 300 crore to Rs 375 crore in the Budget, presented by Finance Minister Arun Jaitley in Parliament today.
According to this year’s budget, mobile phone buyers will have to spent 1-2 per cent more following the levy of a special additional duty (SAD) on the circuit boards of mobile phones.
To promote ebergy efficient lighting, the government today cut excise as well as import duties on input materials used to produce LED lamps, which has been hailed by the industry.
The Centre today allocated Rs 758 crore to Delhi for financial year 2017-18 while the share in central taxes and duties for the national capital remained unchanged despite the AAP government’s continuous demand for an increase.