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National budget News

10 Jul 2014

Union Budget 2014: Govt to review DTC bill in its present form :Jaitley

Finance Minister Arun Jaitley Thursday said the government will review the ambitious Direct Taxes Code, which proposed overhaul of the six-decade old Income Tax Act in its present shape and take a view on the whole matter.

10 Jul 2014

Union Budget 2014: Govt announces Rs 1,500 cr for irrigation, checking prices

Faced with a drought-like situation and high food prices, the government today announced a Rs 1,000 crore scheme to boost irrigation and also set up Rs 500 crore price stabilisation fund to rein in food inflation.

10 Jul 2014

Union Budget 2014: Govt to formulate new urea policy

Finance Minister Arun Jaitley in his Budget 2014-15 Thursday announced that a new policy for urea will be formulated.

10 Jul 2014

Union Budget 2014: Expert views: Jaitley sticks to fiscal deficit target of 4.1%

Finance Minister Arun Jaitley said the country will stick to the fiscal deficit target of 4.1 percent of gross domestic product (GDP) set by the previous government for the year ending March 2015.

10 Jul 2014

Union Budget 2014: Govt to take effective steps to revive SEZs: Jaitley

Expressing commitment to revive special economic zones, the government Thursday said it would take "effective steps" to make them instruments of industrial production, economic growth, export promotion and employment generation.

10 Jul 2014

Union Budget 2014: IT rates unchanged; sops to small, marginal assessees in Bud

The Budget for 2014-15 Thursday left income tax rates unchanged but provided sops to small and marginal assesses by raising the threshold exemption limit from Rs 2 lakh to Rs 2.5 lakh and investments under 80C by Rs 50,000 to Rs 1.5 lakh while promising not to bring tax changes with retrospective effect.

10 Jul 2014

Union Budget 2014: Import duty on stainless steel up 7.5%, to help domestic firms

In a major relief to domestic stainless steel industry, reeling under severe under- utilisation of capacity, the government Thursday increased import duty on flat-rolled products from 5 percent to 7.5 percent.

10 Jul 2014

Union Budget 2014: Disinvestment target revised upwards to Rs 58,425 cr

Finance Minister Arun Jaitley Thursday raised the disinvestment target for the current fiscal to Rs 58,425 crore.

10 Jul 2014

Union Budget 2014: Footwear stocks gain up to 10% on excise duty cut

Shares of footwear makers gained as much as 10 percent Thursday after the Finance Minister proposed reduction in excise duty.

10 Jul 2014

Union Budget 2014: Govt announces to launch new TV channel for farmers

The government Thursday announced a new 24-hour TV channel dedicated to agriculture sector with an outlay of Rs 100 crore for providing real-time information to farmers.

10 Jul 2014

PSU banks stock down after Budget announcement

Shares of public sector banks declined by as much as 4.3 percent after Finance Minister Arun Jaitley Thursday said the lenders would require Rs 2.40 lakh crore capital by 2018 to meet global Basel III norms.

10 Jul 2014

Govt allocates Rs 500 cr for Internet connectivity in villages

The government Thursday said it will allocate Rs 500 crore for its 'Digital India' initiative to set up broadband network in villages and promote local manufacturing of hardware and Indian software products.

10 Jul 2014

Modi's first Budget targets growth, curbs deficit

Prime Minister Narendra Modi`s new government on Thursday unveiled a budget it said can revive growth after the longest slowdown in a quarter of a century even while curbing borrowing.

10 Jul 2014

Nifty falls to 2-1/2 week low on profit-taking

The broader Nifty fell more than 1 percent on Thursday to its lowest in nearly 2-1/2 weeks as lenders such as ICICI Bank were hit by profit-taking even as Finance Minister Arun Jaitley stuck to the previous government`s fiscal deficit target.

10 Jul 2014

Expert views: Jaitley sticks to fiscal deficit target of 4.1%

Finance Minister Arun Jaitley said the country will stick to the fiscal deficit target of 4.1 percent of gross domestic product (GDP) set by the previous government for the year ending March 2015.

10 Jul 2014

Retro tax amendment to be undertaken with extreme caution: FM

Assuring investors that retrospective amendments to tax laws will be undertaken with extreme caution, Finance Minister Arun Jaitley today said all fresh cases arising out of the 2012 amendment of I-T Act will be looked into by a high level CBDT committee.

10 Jul 2014

PSU banks to raise Rs 2.40 lakh crore capital by 2018

Proposing to provide greater autonomy to public sector banks, Finance Minister Arun Jaitley Thursday said these lenders would require Rs 2.40 lakh crore capital by 2018 to meet global Basel III norms.

10 Jul 2014

Jaitley's Budget targets 7-8% growth in three years

Finance Minister Arun Jaitley began presenting the first national budget for self and Prime Minister Narendra Modi`s government Thursday expressing concerns over economic slowdown while promising steps to ensure a course correction with bold measures.

10 Jul 2014

Modi's first Budget targets growth, jobs

Prime Minister Narendra Modi`s new government unveiled what it called a budget for growth on Thursday and vowed to curb borrowing after the longest economic slowdown in a quarter of a century.

10 Jul 2014

Union Budget 2014-15: Key Highlights

Income tax exemption limit raised by Rs 50,000 to Rs 2.5 lakh and for senior citizens to Rs 3 lakh.

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