Economy News

Union Budget 2012-13: Summary

The Union Budget 2012-13 identifies five objectives to be addressed effectively in the ensuing fiscal year. Here is the summary of the general budget.

Mar 16, 2012

Union Budget 2012-2013: Rationalization Measures in Indirect Taxes

Presenting the General Budget for 2012-2013 in Lok Sabha, Friday, the Union Finance Minister Pranab Mukherjee has announced various rationalization measures, including excise duty rationalization for packaged cement.

Mar 16, 2012

Union Budget 2012-2013: Service Tax Rate to be Raised From 10% to 12%

Presenting the Union Budget for 2012-2013 in the Lok Sabha Friday, Finance Minister Pranab Mukherjee announced that service tax rate would be marginally raised from 10 percent to 12 percent.

Mar 16, 2012

Union Budget 2012-2013: Agri Customs Duty to be Reduced to 2.5 Percent

Carrying forward the initiatives taken for agriculture and agro-processing sectors, the government proposed to reduce basic customs duty from 7.5 percent to 2.5 percent on sugarcane planter, root or tuber crop harvesting machine and rotary tiller and weeder and parts for the manufacture of these.

Mar 16, 2012

Union Budget 2012-2013: Fiscal Deficit to Come Down to 5.1% of GDP

The fiscal deficit in the Union Budget 2012-13 has been pegged at Rs 5,13,590 crore which is 5.1% of the GDP.

Mar 16, 2012

Budget 2012-2013: FRBM Act to be Amended

While presenting the Union Budget 2012-13 in the Parliament Friday, Union Finance Minister Pranab Mukherjee announced the introduction of amendments to the Fiscal Responsibility and Budget Management Act, 2003.

Mar 16, 2012

Union Budget 2012-13: Highlights

Finance Minister Pranab Mukherjee Friday presented the budget for 2012-13 in the Parliament. Here are the highlights of the budget.

Mar 16, 2012

Indian Economic Survey 2012-13: Summary

Indian economy is estimated to grow by 6.9% in 2011-12 mainly due to weakening industrial growth. This indicates a slowdown compared not just to the previous two years, when the economy grew by 8.4%, but also from 2003 to 2011, except 2008-9 economic downturn, when the growth rate was 6.7 percent.

Mar 15, 2012

Indian Budget 2012-13: What the Industry Expects from FM

The Government of India is scheduled to present the Union Budget for FY2013 on March 16, which is crucial for the economy and markets.

Mar 15, 2012

Economic Survey 2011-12 Projects 5 Percent Industrial Growth in Current Financial Year

The Economic Survey 2011-12, tabled in the Lok Sabha Thursday by Finance Minister Pranab Mukherjee, has projected the industrial-sector growth during the current financial year to be between 4 to 5%.

Mar 15, 2012

Volatility in Global Financial Markets Likely to Tighten Availability and Cost of Foreign Funding

Given the weak global economic prospects and continuing uncertainties in the international financial markets, the availability and cost of foreign funding for banks and corporate is likely to be negatively impacted, said Indian Finance Minister, Pranab Mukherjee in Lok Sabha Thursday.

Mar 15, 2012

Vijay Amritraj Quits Kingfisher Airlines Board

Former tennis star Vijay Amritraj resigned from the board of Kingfisher Airlines Ltd, effective from March 14.

Mar 14, 2012

RBI's Reference Rate for Dollar Today (Mar 14, 2012)

The Reserve Bank of India (RBI) on Wednesday fixed the reference rate for the US dollar at 49.9030 rupees and the euro 65.0885 rupees.

Mar 14, 2012

Indian Economy Will Soon Be Back to 8-9 Percent Growth Trajectory: President

Stating that the current year has been a difficult one for the world economy, Indian President Pratibha Patil said that the country would back to the high economic growth trajectory of 8 to 9 percent.

Mar 12, 2012

Budget 2012: Budget Session Begins Today, Tough Time Awaits Congress Govt

With the Parliament Budget session starting today (Monday), the Congress-led UPA government is likely to have a hard time. Pressure will be more following the poor shoe of the party at recent assembly elections.

Mar 12, 2012