Union Budget 2016-17

Budget 2019: Government May Reduce Oil Cess To Boost Production, Says Report

Business | Indo-Asian News Service | Tuesday June 11, 2019

The Finance Ministry had revised the oil cess in the Union Budget 2016-17, shifting it from the specific charge of Rs 4,500 per tonne of crude to an ad valorem rate of 20 per cent.

Union Budget 2017 Gives Infrastructure Sector Status to Affordable Housing

Business | Wednesday February 1, 2017

The decision will help the sector get various benefits of infrastructure sector.

Fiscal Deficit Hits Nearly 84% Of Budget Estimate In First Half Of 2016-17

Business | Press Trust of India | Monday October 31, 2016

The fiscal situation in April-September deteriorated over the year ago as the deficit then stood at 68.1 per cent of the Budget estimate of 2015-16.

Finance Ministry May Finalise PSU Insurers Listing Plan In Two Months: Report

Business | Press Trust of India | Sunday October 9, 2016

There are 52 insurance companies operating in India, of which 24 are life insurance business and 28 in general insurance.

Government Mulls Advancing Union Budget To February 1

Business | Press Trust of India | Tuesday September 20, 2016

Breaking its tradition, the general Budget of the Union government is likely to be presented on February 1 instead of the last day of the month, as part of an overhaul that would also scrap the practice of a separate Railway Budget.

Government May Advance Union Budget By A Month: Report

Business | Press Trust of India | Sunday August 21, 2016

Union Budget has for decades been presented on last day of February, but this could soon change with the government mulling advancing it to January end so as to complete the budget exercise before the beginning of the new fiscal year.

Suresh Prabhu Seeks Merger Of Railway Budget With General Budget: Report

Business | Press Trust of India | Thursday July 14, 2016

Railway Minister Suresh Prabhu has written a letter to Union Finance Minister Arun Jaitley seeking an end to the age-old practice of presenting a separate budget for railways by merging it with the General Budget.

In Relief To Jewellers, Small Scale Industry Exemption Limit Hiked

Business | Press Trust of India | Wednesday July 13, 2016

In a relief to jewellers, the government has increased Small Scale Industry (SSI) exemption limit to Rs 10 crore from Rs 6 crore, waived off the levy on sale of traded goods and relaxed various procedural norms.

Cabinet Note On Listing Of PSU Insurers To Be Issued Soon: Report

Business | Press Trust of India | Sunday July 3, 2016

The Finance Ministry will soon issue a draft Cabinet note on listing of public sector general insurance companies in line with the announcement made in the Budget.

Krishi Kalyan Cess Not Applicable If Invoice Generated Before May 31

Business | Press Trust of India | Sunday June 26, 2016

In a bid to end confusion over retrospective applicability of the new Krishi Kalyan cess, the government has stated that 0.5 per cent tax will not apply on services whose invoice had been issued on or before May 31.

Expect LIC To Shortly Announce Credit Enhancement Fund: Government

Business | Press Trust of India | Wednesday June 22, 2016

Life Insurance Corporation (LIC) will "shortly" announce setting up of a credit enhancement fund to provide guarantees for infrastructure sector companies to help them access funds from domestic and overseas markets at lower cost.

No TCS On Sale Of Cars Exceeding Rs 10 Lakh To Government Departments: Taxman

Business | Press Trust of India | Wednesday June 8, 2016

One per cent tax collection at source (TCS) will not be levied on sale of motor vehicles of over Rs 10 lakh to government departments, distributors and dealers, the Income Tax Department said on Wednesday.

Pay More For Cars, AC Train Tickets, Eating Out, Phone Calls From Today

Business | NDTV Profit Team | Wednesday June 1, 2016

Planning to buy a car priced over Rs 10 lakh? You will have to shell out 1 per cent extra over and above the price of the car as the tax introduced by the Finance Minister Arun Jaitley in Budget this year will become applicable from June 1.

Experts, Industry Flay Tax On Government Services

Business | Press Trust of India | Sunday May 1, 2016

Industry bodies and advisory firms have raised objections to the new service tax on government services, saying the move may lead to a lot of disputes.

Government To Liquidate Some Loss-Making PSUs: Report

Business | Press Trust of India | Sunday April 24, 2016

As it looks to contain public expenditure, the government is considering a proposal to liquidate some loss-making public sector undertakings (PSUs) while protecting the interest of their employees who may be offered "lucrative" payouts.