Union Budget

Health Ministry Cites Fund Crunch, Tells AIIMS To Prioritise Projects

India News | Press Trust of India | Wednesday September 20, 2017

Citing lack of funds, the Union Health Ministry has asked the AIIMS here to review its projects, both sanctioned and proposed, estimated to cost over Rs 12,000 crore, and prioritise those based on its current needs.

Finance Ministry To Initiate Budget Exercise Next Week

Press Trust of India | Sunday September 10, 2017

With excise duty and service tax being subsumed in GST, the classifications will undergo change, an official said.

New Minimum Wage Norms May Impact Hiring, Say Experts

Press Trust of India | Friday July 28, 2017

The Union Cabinet on July 26 approved the new wage code bill which will ensure a minimum wage across all sectors.

Government Considering To Change Financial Year To January-December

Thomson Reuters | Friday July 21, 2017

Finance Minister Arun Jaitley declined to elaborate whether the budget presentation would be advanced to November or December from February 2018.

Grounded TDP Lawmaker Diwakar Reddy Says 'Sorry' To IndiGo, Can Fly Again

India News | Reported by Sandeep Phukan and Uma Sudhir, Edited by Aloke Tikku | Thursday July 20, 2017

JC Diwakar Reddy, the TDP lawmaker banned last month by domestic airlines for creating a ruckus at Visakhapatnam airport, can fly again. IndiGo, the budget airline that first grounded the 73-year-old lawmaker for misbehaving with its officials, said he had expressed regrets at a meeting today. Senior airline officials had met the lawmaker over a lu...

Union Cabinet Approves Creation Of Directors' Post For 3 New AIIMS

India News | Press Trust of India | Wednesday July 12, 2017

The Union Cabinet today approved the creation of three posts of directors in the new AIIMS that will come up in Mangalagiri in Andhra Pradesh, Kalyani in West Bengal and Nagpur in Maharashtra.

Puducherry Chief Minister V Narayanasamy Presents Rs 6,945-Crore Tax-Free Budget

India News | Press Trust of India | Thursday May 25, 2017

Puducherry Chief Minister V Narayanasamy today presented a Rs 6,945-crore tax-free budget for the Union Territory for fiscal 2018 amid a boycott by the opposition AINRC and AIADMK legislators. The budget comprises Rs 4,445 crore for non-plan head and Rs 2,500 crore under plan.

Union Cabinet Scraps Decades-Old Foreign Investment Regulator

Written by Rahul Shrivastava | Thursday May 25, 2017

The step is in keeping with plans to make India an easier place to do business, Finance Minister Arun Jaitley said.

I Voluntarily Gave Up Rail Budget, Says Suresh Prabhu

Press Trust of India | Wednesday April 26, 2017

During an exclusive interaction with PTI, Mr Prabhu was talking about the vision for making the public transport more efficient and profitable.

Lok Sabha Passes All 4 GST Bills: Highlights

India News | Wednesday March 29, 2017

Four Bills related to the Goods and Services Tax or GST were debated in the Lok Sabha or lower house of Parliament today, as the government pushes to meet a July 1 launch date for the unified tax regime that subsumes a slew of indirect taxes at the Centre and in states. Seven hours were allotted for today's debate, which began at noon, with union m...

For GST Bill, 7-Hour Debate On Wednesday, PM Narendra Modi's Review Today: 10 Facts

India News | Reported by Rahul Shrivastava, Edited by Anindita Sanyal | Tuesday March 28, 2017

Prime Minister Narendra Modi has called a meeting of his council of ministers today to brief them ahead of a seven-hour debate on Wednesday in the Lok Sabha on the government's mega reform, the Goods and Services Tax. Four bills crucial to the implementation of GST will be passed at the end the debate; they were introduced in the lower house yester...

Parliament Budget Session Day 8 Highlights: Next Year Will Be A Year Of Change, Says Arun Jaitley

India News | Wednesday March 22, 2017

The eighth day of the month-long second leg of the budget session of parliament is expected to be a busy one. The Bill scheduled to be considered and passed in the Lok Sabha is The Finance Bill, 2017 and The Constitution (Scheduled Castes) Orders (Amendment) Bill, 2017. In the Rajya Sabha, the bill for consideration and passing is the Employee's...

Parliament Meets, PM Narendra Modi Underscores Star Status Of GST Reform: 10 Facts

India News | Edited by Divyanshu Dutta Roy | Thursday March 9, 2017

As parliament begins its month-long session today, Prime Minister Narendra Modi emphasised the importance of clearing the landmark reform, the national Goods and Services Tax (GST), which the government wants to roll out on July 1. The PM said he seeks the opposition's cooperation and "a breakthrough on GST." This weekend, the Finance Minister said...

Electoral Bonds Cannot Become Parallel Currency, Says Finance Minister Arun Jaitely

India News | Press Trust of India | Wednesday March 8, 2017

Finance Minister Arun Jaitley on Wednesday said the electoral bonds announced in Union Budget 2017-18 to promote legitimate funding of political parties could not treated as parallel currency and would be valid only for a specific duration.

Transfer Allowed From Employees' Provident Fund To NPS: Pension Regulator

Indo-Asian News Service | Wednesday March 8, 2017

As per the rules, a member looking to transfer funds from Employees' Provident Fund or EPF to NPS must have an active NPS Tier-I account, which can be opened either through the employer where NPS is implemented or online through eNPS on the NPS Trust website.

Funds To Be Ready For Government Schemes From April 1: Finance Minister Arun Jaitley

Press Trust of India | Tuesday March 7, 2017

Finance Minister Arun Jaitley on Tuesday asked various central ministries to remain in a state of readiness for implementing schemes and projects as funds would be made available from April 1.

Will Raise 'Politics Of Intolerance' In Parliament: Congress MP

India News | Press Trust of India | Wednesday March 1, 2017

Union Minister Kiren Rijiju's comments on Delhi University student Gurmehar Kaur may be raised in parliament by the Congress when the budget session resumes, a senior lawmaker of the party said today.

Listing Process Of Three Rail PSUs Kick-Started By Finance Ministry

Press Trust of India | Monday February 20, 2017

The Department of Investment and Public Asset Management is scouting for merchant bankers to manage the initial public offering (IPO) of the three PSUs, which is under the administrative control of the Rail Ministry.

Budget Focuses On Enhancing Tax Return Filing Compliance

Saraswathi Kasturirangan | Sunday February 19, 2017

The lowering of tax rate, while ensuring that there is no erosion of existing tax base, is expected to encourage present non-filers to move towards compliance by paying taxes and filing the tax return, says Ms Kasturirangan.

Rural Development Given Priority In Union Budget: Arun Jaitley

Press Trust of India | Monday February 13, 2017

Mr Jaitley said the Centre has made adequate financial allocation in the recent Budget for rural development such as power, irrigation, roads, drinking water, housing and MGNREGA.

Budget Paves Way For Long-Term Boost To Economy

Pinakiranjan Mishra | Sunday February 12, 2017

The Budget appears to aim at providing more structural support to accelerate growth momentum over the long run, says Mr Mishra.

Budget Intended To Improve Compliance, System-Based Administration

Sreenivasulu Reddy | Sunday February 12, 2017

Considering the thrust of stimulating growth, curbing black money and simplification of tax administration, the finance minister laid down the proposals from a tax perspective of today.

Early Withdrawal From NPS Made Tax-Exempt: 10 Things To Know

Thursday February 9, 2017

National Pension Scheme has been given a boost in the Budget with Finance Minister Arun Jaitley offering income tax sops on early withdrawal.

FDI Into India Zooms 60% In November

Press Trust of India | Wednesday February 8, 2017

The finance minister in Budget 2017-18 proposed to abolish the Foreign Investment Promotion Board and further relax FDI policy.

RBI Expected To Cut Interest Rate To 6-Year Low Today: 10 Points

Wednesday February 8, 2017

If RBI cuts its repo rate by 25 basis points to 6 per cent, it will be the lowest since November 2010.

Overall Positive Budget, But Start-Up Sector Hoped For More

Monday February 6, 2017

One of the highlights of the Budget for start-ups is the increase in profit-linked tax exemptions from 5 years to 7 years, says Mr Chowdhry.

Taxman Not To Ask Questions On Deposits Up To Rs 2.5 Lakh

Press Trust of India | Monday February 6, 2017

Using Big Data analytics, the Income Tax Department has segregated different kinds of deposits and large ones like more than Rs 1 crore that do not match with income tax returns filed in previous years will be taken for "layer enforcement".

Banks Can't Escape Responsibility Of Bad Loans: Former RBI Chief

Press Trust of India | Monday February 6, 2017

At a panel discussion on Union Budget-2017, Mr Rangarajan also said that though the adverse impact of demonetisation will wear off as the currency availability improves, some affects will not go away even as sectors like real estate will have to rethink their business models.

Income Tax Slabs: Here Are New Tax Rates Applicable From April 2017

Wednesday February 8, 2017

Bringing some cheers to the individual tax payers, Finance Minister Arun Jaitley halved the income tax rate to 5 per cent for individuals having taxable income between Rs 2.5-Rs 5 lakh compared to 10 per cent earlier.

Arun Jaitley's Disinvestment Programme Raises Capital Market Ambitions

Thomson Reuters | Monday February 6, 2017

In last week's Union Budget, Finance Minister Arun Jaitley set a Rs 72,500 crore target for divestment in the 12 months from April 1, up from a revised Rs 45,500 crore goal in the current fiscal year.