Steel cos hike prices despite excise cut; Paswan angry In the wake of reports of steel companies hiking prices despite a 2 per cent cut in excise duties in the budget...

Aviation sector hits Budget airpockets The Budget 2008-09 has not only avoided providing any significant incentives to the aviation sector, but has also pruned the allocation to the aviation ministry.

Budget move forces ONGC to review plans With finance minister P Chidambaram's proposal to withdraw tax holidays to new refineries and oil and gas ventures, Oil & Natural Gas Corp has decided to review its planned new projects at Kakinada and Mangalore.

Tyre sector disappointed as FM ignores NR duty structure The tyre industry is upset that the Union Budget is set to puncture the sourcing of its chief input natural rubber, while generously stretching the tyre business volumes.

Growth-oriented but falls short on reforms The industry seems to be divided on repercussions of Budget 2008 on the health of Indian economy. FM P Chidambaram’s Budget is being perceived as people-oriented, stressing adequately on inclusive and sustainable growth but falling short on the reform agenda, according to the industry leaders polled by Confederation of Indian Industry.

Big investment needed for healthcare: Gangopadhyay Allocation to the crucial health care needs to hugely augmented and sustained for a long time for improving the health care system in the country, Shubhashis Gangopadhyay, advisor to finance minister P Chidambaram, has said.

No leg-up for long-term investment, NPS’ woes to continue Union Budget 2008-09 has not spelt out any concrete measure, which will boost long-term investment.

Telcos cry foul as 1% duty to make mobile costlier Finance minister P Chidambaram’s Budget didn’t find favour with the telecom service providers who were left high and dry by the absence of any reference to ‘unifying the multiple tax structure’ on their revenues, which amounts to almost 30% of their adjusted gross revenues.

Cenvat cut may not benefit consumer Even as the finance minister P Chidambaram announced an across-the-board reduction of Cenvat from 16% to 14%, both pharmaceutical companies as well as consumer durable manufacturers are not willing to pass on the benefit to the customers.

Tax relief spells bad news for insurance sector While the Budget has cheered up individual taxpayers by hiking the basic exemption limit, it could spell bad news for the insurance sector.