Pardon! The Budget is meant for the Haves only. Business friendly hegemony moves to cashless economy claiming a classless society. Palash Biswas

Pardon! The Budget is meant for the Haves only.

Business friendly hegemony moves to cashless economy claiming a classless society.

Palash Biswas

BBC surveyed the economists on budget and every one of them were ga ga glad and marked eight to Nine out of Ten.I wonder why this had not been ten out of ten!For foreign capital,for investors,for FDI,for Private sector,fof builder,promoter mafia raj,the leaked budget inflicted with corporate lobbying,corporate espionage,corporate funding  turned to be all round beautiful.

Mutual fund (MF) investors have something to cheer from the budget. Scheme mergers will no longer be considered as fresh investments, allowing investors to make exits earlier without incurring taxes.

As ET reported today:India Inc may raise a Rs 70,000 cr in total of ` 2015 via QIPs, IPOs, FPOs & rights issues

Indian companies could raise more money as equity this year than in the past five as a benign market environment and a recovering economy raise hopes of a faster turnaround in business fortunes.

Companies plan to raise nearly Rs 52,986 crore through qualified institutional placement (QIPs) in 2015, according to an analysis of corporate announ cements on stock exchanges and conversations with merchant bankers and companies.This will be higher than Rs 31,684 crore raised last year.If one includes rights issues, follow-on offerings and IPOs, the figure for 2015 could rise to over Rs 70,000 crore, the highest after 2010 when about Rs 80,000 crore was raised. These figures don't include government disinvestment and offers for sale of public sector companies where money is not infused into the company.

The Dow  Chemical lawyer Arun Jaitley did not speak anything about the caste,race or class.He might not as Sangh Pariwar speaks only Hindutva> Hindutva though does everything to sustain Caste system and racial Apartheid and hates nay talk on class.Rather the Finance Minister of multinational Capital did everything to present a beautiful budget for the Haves and opened all avenues of mass destruction of the Have Nots,the ninety nine percent.

The Dow Chemical lawyer rather  spoke of moving to a cashless economy in an attempt to clamp down on black money. "One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians have or can have a RuPay debit card, I, therefore, propose to introduce soon several measures that will incentivize credit or debit card transactions, and disincentivize cash transactions," Jaitley said, while presenting Union Budget 2015 on Saturday. The government has already issued over 110 million RuPay cards. A RuPay card is a debit or credit card launched by the National Payments Corporation of India. Most major public sector banks are issuing these cards. But moving to a cashless economy may prove to be a tardy and arduous process. Even though consumers in the metros are increasingly using credit and debit cards for commercial transactions, things outside the metros leave much to be desired. Whether it is the corner shop or a consumer electronics showroom, an apparel store or a hospital, transactions in small town India are still in cash.

While the budget itself ensures free flow of foreign capital and gets the unprecedented support for the FIIs as expressed very well in the Bull Run unprecedented,the talk on Black Money means nothing better than the famous election joke to deposit Rs.Fifteen lac  in the account of every Indian citizen.

I did not write on Railway or the leaked Budget in English this time as I had been.The English media sees nothing wrong to open the floodgates of FDI,Disinvestment or Privatization.Just because the English media does not represent the majority Indian demography which roots in Rural India.Most of learnt English for empowerment and it is well understood that the empowered Haves have everything in the Budget. As everyone belonging to the Haves dream to make money as much as Reliance spins.Rather,it is an unprecedented opportunity for the Haves to enrich and enhance themselves as they know the economics of Money making which Narendra Bahi Modi describes as making

Why should they oppose?

English media as well as media in other languages has to do nothing with Rural India and the Have Nots!

The employees and the professionals know English better than us but they no more identify themselves with rural India as they have become habitual to live in the cemented Jungle and aspire to become the residents of the Super Smart India where only one class may live in with the millionaire billionaire class.

Hence,the English knowing people have not to be worried of the impact of economic reforms or legislation whatsoever.It is the solidarity of the neorich children of neoliberal PPP debvelopment model,on which the Hidnu imperialism banks .

Just read the Business Standard report:

DIRECT TAXES PROVISIONS

The Finance Minister (FM) presented the Budgetproposals with a plethora of initiatives to improve investor sentiment and revive economic growth. This has been reflected in the direct tax proposals presented, with promises for further benefits in the future.

Read our full coverage on Union Budget

Click here for charts & tables

Tax incentive for industrial growth and infrastructure development

• Tax on royalty and fees for technical services(FTS) paid to non-residents brought down to 10% from 25%. This new rate mostly is in line with the rate of the tax treaties. The beneficial rate can be availed of without going through the difficult procedure for obtaining tax treaty benefit. The payee however would require PAN for not attracting the 20% penal rate. In cases where tax is pushed down to Indian payer(s), cost would also reduce. Even where tax is borne by the payee, chances of absorbing tax credit in home country would increase.
• The tax benefit of three years' weighted deduction of 30% for employing new workmen in manufacturing units (section 80JJAA) has been expanded. Going forward, benefit will apply to all taxpayers having manufacturing units. The eligibility threshold is brought down to 50 new workmen (from 100), subject to minimum 10% of workforce. This measure would have multiple benefits. The employer would get additional tax deduction to the extent of 90% of the first years cost and encourage direct employment. The lowering of the threshold would benefit MSME units (see Table).
• Income other than business income of pooled investment vehicles, namely, Category I & II Alternative Investment Funds (AIF) would enjoy pass-through status. AIFs would now be paying tax only on business income. Capital gains and other income would be chargeable to tax in the hands of unitholders in AIFs. This would increase the return of the unitholders. Investee ventures would also benefit economically through availability of more funds. Tax is required to be withheld at 10% from payments to unitholders, though clarity is required for exempt income.
• New investments up to March 31, 2020 in backward areas of Telangana and Andhra Pradesh would be eligible for additional depreciation and investment allowance. Effectively, plant and machinery acquired from April 2015 could get an aggregate deduction of 80% in the first year.

In his speech, FM mentioned about similar sops for eastern States but that hasn't found place in the proposals.

• Listed REITs/InvITs - Offloading of units by the investors would be accorded the same treatment as sale of shares in Special Purpose Vehicle (SPV) used to invest in the project, i.e. would be tax exempt if held long term and taxable at 15% if short term. Rental/leasing income of REITs/InvITs would be pass-through. This should attract investments in housing/infra sector. However, the issue of MAT on swap of SPV shares with REIT/InvIT units remain unaddressed.
• 5% tax on interest on bonds/G-Secs for FIIs and QFIs would continue till June, 2017. This would help in attracting investment in these securities, benefiting the manufacturing/infra sector.

Investment-friendly measures

• General Anti Avoidance Rules (GAAR) is deferred by 2 years. Additionally,GAAR would apply prospectively to investments made from April 1, 2017 onwards. Internationally, GAAR is introduced gently to protect genuine investments. The deferral and grandfathering would bring in certainty and remove the deterrence to investments for the next two years.
• Indirect transfer of shares/interest in companies: Threshold for application of the tax has been set as (i) value of India assets > Rs 10 crore and (ii) India assets being at least 50% of overall value of assets. Assets would be valued at fair market value (without liabilities) as per rules to be prescribed. Income would be proportionately computed as reasonably attributable to Indian assets. The indirect transfer tax would not be attracted if the holder does not have minimum 5% voting power/ right of management/ control in the overseas entity. Subject to conditions, merger/demerger of overseas entities would not trigger the tax. While this provision would bring certainty, one would have to wait for the valuation rules and clarifications on dividend income on the overseas shares. Clarity on cost of acquisition is also required. The amendments are prospective only but given the controversies created by the retrospective amendments on this issue in the past, the beneficial provisions should be retroactive.
• Fund managers operating in India for offshore funds would not trigger Indian business presence for the Fund, subject to specified conditions. The safe-harbour would encourage additional investment in Indian bourses and increased fund management activity in India. While, apparently, the proposal is expected to remove a litigation risk for the funds, some of the conditions like payment of arm's length management fee to the manager can create dispute at the ground level. Further, it may not be practical to impose arm's length remuneration between independent parties as a condition.

Tackling black money

A comprehensive law would be enacted to deal with black money parked outside India. The likely key features are - (a) Taxation at maximum rate without any exemption/deduction (b) Severe consequences of concealment and non-compliance like penalty, imprisonment, without recourse to compounding or settlement. Consequential changes in anti money laundering law and FEMA would be made.

It is also proposed to tackle black money under the Income Tax Act through (a) Prohibition of and penal consequences for acceptance or re-payment of any advance of INR 20,000 or more in cash for purchase of immovable property (b) Disclosure of assets in the tax return.

These proposals show the Government's determination to bring back black money to the country as well as curb its creation. However, toning up the existing law may be required to tackle unaccounted income already generated as the new law can only be prospective.

Corporate tax rates

It is proposed to reduce corporate tax rate progressively from 30% to 25% over the next four years with consequent phasing out of tax incentives. However, for 2015-16 the effective rates have actually gone up.

This has increased the disparity between effective tax rates of domestic and foreign companies - 45.67% and 43.26% respectively.

Personal taxes

There are no changes in the personal tax rates except the increase in surcharge by 2% for the super-rich. However, social investment is the key focus of the proposals -

• Enhancement of ceiling for contribution to annuity plans under section 80CCC increased from Rs 1 lakh to Rs 1.5 lakh within the overall cap.
• Removal / enhancement of ceiling for contribution to NPS under section 80CCD and option to contribute in NPS instead of EPF.
• Increase in deduction for mediclaim contribution by Rs 10,000 for all, including senior citizens. Benefit for medical insurance for non-senior citizen category announced in FM's speech is missing in the Finance Bill - needs to be rectified.
• Deduction for medical expenditure of persons in 80 plus age group up to Rs 30,000 per annum.
• Enhancement of ceiling for benefits to differently abled persons by Rs 25,000.
• Requirement of investment under Sukanya Samriddhi scheme in the name of the girl child only.
• To prevent tax leakage from salaries, employers would have to obtain evidence of expenses/investments before granting deductions / exemptions, while withholding tax [Section 192(2D)]
• Exemption on transport allowance will be doubled to Rs 1,600 p.m.

Swachh Bharat

To mobilise the resources for Swachh Bharat Abhiyan, contribution to Swachh Bharat Kosh and Clean Ganga Fund will be eligible for 100% deduction (section 80G). However, it has been clarified that contribution to such fund under CSR will not be eligible for a deduction. The deductibility of the contribution can be challenged given the requirement of segregation from CSR.

Positive trend

There is a welcome trend accepting Court rulings favourable to taxpayers and overriding rulings favourable Revenue (see table). This is in line with the Government's acceptance of recent Court rulings on transfer pricing (Vodafone and Shell cases) - departing from the consistent policy of overriding rulings through retroactive amendments.

Even for existing litigation - mechanism for foreign tax credit will be notified through Rules.

DTC

DTC is being scrapped after introducing key proposals in the current law. The Finance Bill proposes to incorporate-

• Place of effective management (POEM) - Tax residence of companies will be enlarged to consider foreign companies having POEM in India at any time during the year. POEM means a place where, in substance, key management and commercial decisions of the overall business are taken. This could affect foreign companies holding Board meetings in India and foreign subsidiaries of Indian companies if management decisions are taken in India.
• Revision of orders prejudicial to revenue - Scope of Commissioner's power of revision will be enlarged as in DTC.

Others

• Payment of interest by foreign Bank's India branch to HQ to be income for HQ - clarity required for other payments;
• Penalty provisions regarding MAT income proposed to be rationalised - may result in penalty even without increase in taxable income;
• Domestic Transfer Pricing threshold increased from Rs 5 Crore to 20 Crore - should benefit MSMEs;
• Wealth tax being abolished -safeguarding provisions introduced for income tax.

In summary, the proposals signify a shift towards investment based incentives directing at economic growth and a non-adversarial tax regime.

RELATED NEWS

• Budget Impact: Investment-friendly measures for industry, infra development
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• Budget Impact: Hope and disappointment
• Expect higher economic and earnings growth in FY16: Nirmal Jain
• Budget Impact: Emphasis on tax compliance, GST rollout; pet projects get their dues

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Jan core sector growth falls to a year's low Plummets to 1.8% due to lower production of crude oil & natural gas Manufacturing PMI drops to 5-month low in Feb Coal auction: Eight blocks dropped from 2nd phase News Your pesonal income tax rate won't go down soon Revenue Secretary Shaktikanta Das says: 'The peak rate of 30% is very reasonable rate even in international standard' India-US ties still problematic While merchandise trade grew at a sluggish 0.47% in FY14, Washington remains concerned about India's IPR laws Make in India: Export-oriented plastic cluster proposed in Lucknow Cluster would be set up by Indian Industries Association in collaboration with Central Institute of Plastics Engineering & Technology Bad weather destroys crops in Uttar Pradesh This year, the farmers were expecting a bumper wheat crop until the sudden twist in the weather conditions ruined their chances Use falling global food prices as opportunity: Agri expert Says govts should boost investment in rural and farm infra in order to achieve growth, eradicate poverty and tackle next food price rise Features StatsGuru: Decoding the big changes in this Budget The numbers underlying the Budget reveal some of the big changes this year. Table 1 shows there are only minor differences in where the ... Budget Impact: Hope and disappointment The extra 2% surcharge on dividend distribution will have a mildly negative impact on investor sentiment if corporates decided to rebalance ... No big bang, but budget goes for growth, investment While seeking to spark an investment-led boom, the Budget was short on structural reforms, as the govt left major welfare schemes untouched An optimistic Survey: Nitin Desai The tone and tenor of the Economic Survey has ramped up expectations of an investment & investor-friendly Budget Championing growth without a big bang: Ajit Ranade This Survey breaks from tradition, and is organised into two volumes, with a nod to the style of IMF's World Economic Outlook Editorial Comment Wanted: a time frame Clarity needed on the plan to reduce corporation tax Missing farm focus Budget impact on agriculture blurry Coping under pressure Arun Jaitley had a difficult job to do, and he has coped well. He has met his headline target of restricting the fiscal deficit for the year ... The right track The difference with this Railway Budget Free the clicks Deregulate e-commerce, and see ancillary benefits Columnists Add to My Page Shyam Ponappa:Extractive charges on spectrum and petroleum Shyam Ponappa The author examines whether government levies on these critical inputs are beneficial or detrimental Barun Roy: A sequel to Hong Kong? Barun Roy Recent efforts to promote trade and tourism between China and Taiwan show the latter's risk factor as a flashpoint is no longer acute Arvind Panagariya: India must call the US' bluff on patents Arvind Panagariya The recent US-India friction over trade is being driven by Big Pharma BUSINESS LAW & TAX Taking India back to future The government has provided a long-term vision, avoiding any "big-bang" reforms but the devil will be in the details of the implementation, say ... Governance pain of public banks Dual regulation by the finance ministry and RBI, political influence in lending and appointment of board members have taken a toll on governance ... Budget 2015 would also need reforms in Customs One of the risks is to get swayed by the idea that exemptions bring popularity TDS on payment to foreign consultant A weekly selection of key court orders Bumps ahead for Financial Code future With many sections of the financial market unhappy about certain provisions of the FSLRC report, changes are likely in the modified draft Three approaches to budget-making The law governing manufacturing is replete with obsolescence on multiple counts Quick Links                    Beyond Business                          Current Affairs                          Economy                          Finance                          International                          Management                          Photo Gallery                          Video Gallery                  Go Economic Indicators YoY (In %) Current Qtr Ago Yr Ago Inflation (31/10) 1.77 5.41 7.24 IIP (31/12) 1.70 2.50 -0.20 GDP (31/12) 7.50 5.30 4.70 CPI (31/01) 5.11 5.52 8.79 CRR (29/01) 4.00 4.75 5.50 Bank rate (30/01) 8.75 9.00 8.75 MOST POPULAR Read Shared Commented Sukanya Samriddhi not really helpful in tax saving Three leading brokers arrested in NSEL scam Ola acquires TaxiForSure in $200-mn deal Good time to buy infra-related stocks for the long term: Analysts Coal India turns ex-dividend today

http://www.business-standard.com/budget/article/investment-friendly-measures-for-industry-infra-development-115030100848_1.html

Mar 03 2015 : The Economic Times (Kolkata)

FUND-RAISING TO HIT 5-YEAR HIGH - Cos to Raise Equity Faster Than Chris Gayle's Double

Baiju Kalesh & Reena Zachariah

Mumbai





India Inc may raise a Rs 70,000 cr in total of ` 2015 via QIPs, IPOs, FPOs & rights issues

Indian companies could raise more money as equity this year than in the past five as a benign market environment and a recovering economy raise hopes of a faster turnaround in business fortunes.

Companies plan to raise nearly Rs 52,986 crore through qualified institutional placement (QIPs) in 2015, according to an analysis of corporate announ cements on stock exchanges and conversations with merchant bankers and companies.This will be higher than Rs 31,684 crore raised last year.If one includes rights issues, follow-on offerings and IPOs, the figure for 2015 could rise to over Rs 70,000 crore, the highest after 2010 when about Rs 80,000 crore was raised. These figures don't include government disinvestment and offers for sale of public sector companies where money is not infused into the company.

"The time is perfect as the retail investors market is absolutely conducive," said Sanjay Sharma of Deutsche Bank.

Mar 03 2015 : The Economic Times (Kolkata)

Black Money Law to be Fair to Students, Pros

Deepshikha Sikarwar & Vinay Pandey

New Delhi:





Positive Vibes Revenue Secy Shaktikanta Das says the govt will make sure stringent provisions of proposed law are not used for harassment

India will seek to apply its proposed law on black money held abroad fairly, making sure that its stringent provisions aren't used to harass students, research scholars and professionals going overseas for short stints.

"There will be suitable safeguards," Revenue Secretary Shaktikanta Das told ET in an interview."There are so many Indian students who study abroad or professionals who go on short-term assignments or consultancy. It's not the intention of the government to cause difficulty for these kinds of people."

Under the proposed legislation, non-disclosure of overseas assets will be a criminal offence with sentences of as much as 10 years of rigorous punishment, finance minister Arun Jaitley said in his February 28 budget. It will only of fer a brief window as a last chance for the declaration of assets and payment of tax, with no chance of an amnesty.

The new law will cover all assets, including works of art, which will need to be disclosed to the tax authorities.

India will start receiving information on an automatic basis from the US from 2017 under the US Foreign Account Tax Compliance Act or FATCA besides other nations under global accords. The tax authorities will thus get details on overseas holdings of Indians, making it difficult to hide funds in bank accounts or assets overseas. This information exchange will also cover trusts and other structures that are popular in tax havens as a means of concealing the ultimate beneficiary. "All assets will be covered. If you have declared the asset in your income tax return, paid tax either in this country or the other country, there is no reason to worry," Das said.

Mar 03 2015 : The Economic Times (Kolkata)

RBI to Now Become Accountable for Targeting Inflation

Mumbai Our Bureau





New Approach Inflation targeting to be the primary focus of monetary policy

If Reserve Bank of India Governor Raghuram Rajan fails to rein in inflation, he will now have to write a letter to the government -just as his counterpart in Bank of England does -explaining why he failed.

Chances are it could even be put in the public domain, as is done in other countries, for anyone to figure out whom to blame for rising prices.

The rules of the game have been changed been changed to make the central bank more accountable and usher in `inflation targeting' targeting' through a new agreement on `monetary policy framework' signed by the government and Reserve Bank of India.

The agreement was signed on February 20, a week before Finance Minister Arun Jaitley said in his Budget speech that the Reserve Bank of India Act would be amended to pave the way for a monetary policy committee (as is the practice worldwide).

The agreement released on Monday, however, makes no mention of the proposed committee.

It is understood that there are differences between Reserve Bank of India and the government over the composition of the committee which may be set up only after the Act is amended.



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The report, quoting sources said that this would also enable to tap India's ... How the union Budget 2015-16 impacts the overall Retail scenario? IndianRetailer.com - ‎3 hours ago‎ With positive consumer sentiments and softening inflation, budget announcements on GST, revision of excise/custom duty structure, fund allocations for Skill development and rural markets development would ensure long-term consumption boom for the ... Budget's ten breakouts that could have direct impact on Indian economy Jagran Post - ‎Feb 28, 2015‎ New Delhi: Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Budgetraises tax deduction limit ... Budget 2015 does little to cheer the battered automobile sector Business Today - ‎Feb 28, 2015‎ The Budget has proposed a fourfold hike in customs duty on commercial vehicles to 40 per cent. However, it will not impact Indian players, such as Tata Motors and Ashok Leyland. However, Volvo and Mercedes, manufacturers of the high-end hydraulic ... India Budget 2015: Gold monetisation scheme in the works International Business Times UK - ‎Feb 28, 2015‎ It is imperative to nurture the savings mindset imbedded in households through gold accumulation, and then use it to enhance savings, putting it to work for the economy... "This announcement is set to have a healthy impact on India's gold sector, but this can ... India Budget 2015: Shares trade choppy, Arun Jaitley's proposals seen as rupee ... International Business Times UK - ‎Feb 28, 2015‎ Indian shares were volatile on Saturday, 28 February, as the much-hyped Budget 2015-16 presented by Finance Minister Arun Jaitley failed to live up to expectations of investors in a big way while forex traders see the document as rupee-neutral. The main ... Budget evokes mixed response from global rating agencies Zee News - ‎Mar 2, 2015‎ Besides, Moody's said the credit impact of the Budget will depend on whether its implementation facilitates growth that is primarily driven by government expenditure or growth that sets the stage for higher savings, investment, productivity and profitability. India Budget 2015: Gold monetisation scheme in the works International Business Times UK - ‎Feb 28, 2015‎ It is imperative to nurture the savings mindset imbedded in households through gold accumulation, and then use it to enhance savings, putting it to work for the economy... "This announcement is set to have a healthy impact on India's gold sector, but this can ... India Budget 2015: Shares trade choppy, Arun Jaitley's proposals seen as rupee ... International Business Times UK - ‎Feb 28, 2015‎ Indian shares were volatile on Saturday, 28 February, as the much-hyped Budget 2015-16 presented by Finance Minister Arun Jaitley failed to live up to expectations of investors in a big way while forex traders see the document as rupee-neutral. The main ... Budget 2015 missed a chance to turn India into a nation of job-creators Times of India (blog) - ‎6 hours ago‎ But the collective impact of hundreds of thousands of such micro-entrepreneurs will be huge. So, how does the Budget help stimulate entrepreneurship? A .`100-crore innovation fund, Self-Employment and Talent Utilisation (Setu) and a provision of . Reactions to Union Budget 2015 Livemint - ‎Feb 28, 2015‎ We at Muthoot Pappachan Group have already started to act in this direction with the Muthoot Gold Point initiative at the ground level in a transparent and professional manner that is beneficial to end consumers which in turn also has an impact at the macro ... Budget 2015: Wealth tax out, surcharge on super rich up Livemint - ‎Feb 28, 2015‎ ... to mention PAN," said Vanvari. With so many transactions soon needing PAN, maybe it's time for you to memorize this alpha-numeric series. While the additional surcharge may be applicable for the super-rich, more frequent use of PAN has a wider impact. Delayed Fiscal Consolidation Won't Impact India Rating: Moody's NDTV - ‎Mar 1, 2015‎ While presenting the Budget for 2015-16 Mr Jaitley had said the economic growth would be over 8 per cent next fiscal year and double digit growth rate is feasible soon. Hence, he decided to delay to fiscal consolidation programme by a year to put in more ... Budget 2015 based on 2 risky assumptions; if they fail Jaitley may struggle to ... Firstpost - ‎6 hours ago‎ Finance minister Arun Jaitley has, in his first full-year Budget, done reasonably good work, given the resource constraints he faces and multiple demands from various quarters he was hard-pressed to meet. It would be difficult to envisage what more could the ... Budget 2015: Jaitley proposes increase in service tax, education cess Livemint - ‎Feb 27, 2015‎ New Delhi: Finance minister Arun Jaitley has proposed increasing the service tax rate and education cess to 14% from the current 12.36%, while presenting the government's full-year budget on Saturday. Jaitley said the government plans to introduce direct ... Bonds fall; budget raises doubts about pace of rate cuts Reuters - ‎Mar 2, 2015‎ Credit rating agencies also issued a cautionary note on Monday, saying the budget was unlikely to impact the country's ratings given the absence of meaningful fiscal reforms. Although analysts broadly lauded the budget for seeking to spark an investment-led ... Union Budget 2015: Arun Jaitley allocates Rs 33150 cr for healthcare sector Moneycontrol.com - ‎Feb 27, 2015‎ The only key announcement made by the FM in his first full year Budget speech today was the proposal of AIIMS in five new states, three new National Institute of Pharmaceuticals Education and Research in Maharashtra, Rajasthan and Chattisgarh and one ... Union Budget 2015: What is cheaper and what is dearer IBNLive - ‎Feb 28, 2015‎ New Delhi: Finance Minister Arun Jaitley on Saturday presented the first full-fledged Budget of the Narendra Modi government aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ... The Indian Budget: A Different Perspective Nasdaq - ‎2 hours ago‎ The new budget aggressively addresses things like clean water, sanitation and roads which have a direct impact on the daily lives of citizens. There are currently tens of millions of Indians that live without access to clean drinking water, or for that matter, ... Budget 2015: FM Arun Jaitley proposes to rectify inverted duty structure for ... Economic Times - ‎Feb 28, 2015‎ I propose to reduce the rates of basic customs duty on certain inputs, raw materials, intermediates and components (in all 22 items) so as to minimise the impact of duty inversion and reduce the manufacturing cost in several sectors," said Jaitley. Indian budget aims at high growth path CCTV-America - ‎14 hours ago‎ It was a budget, which was watched closely. There were lots of expectations, especially to create jobs and take India on a high growth path. The Indian finance minister did not let people down by announcing a budget that addressed various concerns. Budget 201516 Auto Industry reacts to the Union Budget Zigwheels.com - ‎Feb 28, 2015‎ Reactions are pouring in from automakers on the proposals made by Finance Minister, Arun Jaitley with respect to automotive industry. Here's a quick glance at these Executive responses –. Rakesh Srivastava, Sr. VP, Sales & Marketing, Hyundai Motor India ... Full text of Budget 2015-16 speech The Hindu - ‎Feb 28, 2015‎ I reiterate what I had said in the last Budget that ordinarily retrospective tax provisions adversely impact the stability and predictability of the taxation regime and resort to such provisions shall be avoided. 115. Further, to reduce the associated hassles to ... Test for reform zeal of PM Modi in make-or-break Budget Deccan Chronicle - ‎Feb 28, 2015‎ New Delhi: "India is over the days of incremental change and is waiting for a quantum jump," Finance Minister Arun Jaitley said at the beginning of his Budget speech on Saturday as he read out the government's first, full economic document that is being seen ... Budget impetus to help start-ups take off Livemint - ‎Feb 28, 2015‎ Mumbai: If the big idea of Budget 2014, announced on 10 July, was clearly start-ups, the Bharatiya Janata Party-led National Democratic Alliance government took it a step further by announcing on Saturday an allocation of Rs.1,000 crore to enable information technology (IT) start-ups create additional funding ... He added, though, that the "emphasis on speedy implementation of NOFN to provide connectivity to all villages would benefit the telecom sector as well as have a cascading impact on the economy". What Budget 2015 means for doing business in India Livemint - ‎Mar 1, 2015‎ In a report, Deutsche Bank AG said on the revenue side, the phased cut in corporate income tax while eliminating exemptions starting from 2016-17 will have no revenue impact in 2015-16. R. Chandrasekaran, executive vice-chairman, Cognizant India, said ... Budget 2015: India to be a manufacturing hub with 'Make in India' programme ... Economic Times - ‎Mar 1, 2015‎ "The impact of this 'unofficial' supply of gold of about 180 tonnes is valued at about $10 billion, leading to a loss in foreign exchange inflow of a similar amount and a loss in revenue of over $ 1 billion on account of customs duty," he said. For more budget ... Union Budget 2015: More stable and sustainable tax regime for corporates Moneycontrol.com - ‎3 hours ago‎ The FM has described this budget as laying down the road map for accelerating growth, enhancing investment and taking the benefit to the common man for improving quality of life through round-the-clock, round-the-year Government. In the first full Union Budget presented under Modi Government, the FM highlighted the ... allowed to approach the Settlement Commission. The offence will also be covered in other laws so as to have a larger impactincluding confiscation of assets. The FM has also proposed to control ... Budget 2015: No MAT for FIIs, says Jaitley Business Standard - ‎Feb 27, 2015‎ Read our full coverage on Union Budget. The MAT provision would have raised their long term capital gains tax from zero under the current regime to around 20 per cent. The net impact of would have run into tax liabilities for thousands of foreign investors. 'Budget a big disappointment for middle class' The Hindu - ‎Feb 28, 2015‎ The Union budget for the financial year 2015-16 presented by Finance Minister Arun Jaitley is a big disappointment for the poor and the middle class people. The budget offers no personal taxation relief to tax payers. There is no announcement regarding the ... Budget attractive, but fails on the fiscal deficit front, says economist Hindu Business Line - ‎22 hours ago‎ Addressing the audience on the impact of the Union Budget 2015 at an event organised here by Madras Management Association on Monday , he said, "Stronger action is required on the fiscal consolidation side." In the last Budget, the government committed ... Budget 2015 reactions: taxation, GST, startups, cashless payments ... MediaNama.com - ‎Mar 2, 2015‎ Several measures announced like leaving the choice of Provident Fund to employees, the Rs. 1,000 crore allotted to start-ups and many such decisions will have a long-term positive impact on the country's economy. However, thebudget has not done ... Market sees budget as neutral to positive; targets left unchanged Livemint - ‎22 hours ago‎ Mumbai: Indian stock indices rose on Monday, as investors digested the contents of finance minister Arun Jaitley'sbudget and concluded that its impact on the market would range from neutral to positive. While Jaitley's budget for 2015-16 didn't do much to ... Union Budget 2015: FM promises visa on arrival to 150 countries to up tourism Moneycontrol.com - ‎Feb 27, 2015‎ Meeting some of the expectations of the hospitality industry, Finance Minister, Arun Jaitley in his full year UnionBudget 2015-16 announced visa on arival to 150 countries from the current 43 countries in stages. This would indeed boost tourism for the country, ... Union Budget 2015: Cigarettes to get costly, Jaitley hikes excise duty by 25% Moneycontrol.com - ‎Feb 27, 2015‎ Finance MInister Arun Jaitley Saturday announced an excise duty hike on tobacco to Rs 70 per kg from Rs 60 per kg. The government also increased excise duty on cigarettes by 25 percent for length not exceeding 65 mm and 15 percent for other cigarette ... Arun Jaitley's budget has given no reason to cheer for the defence forces Scroll.in - ‎16 hours ago‎ Extrapolating from the estimated fiscal deficit (Rs 555,600 crore) as a percentage of GDP for the same period, it may be inferred that India's defence budget in the year that will unfold will be under 1.75% of overall national GDP. This figure corresponds with ... Arun Jaitley's budget has given no reason to cheer for the defence forces Scroll.in - ‎16 hours ago‎ Extrapolating from the estimated fiscal deficit (Rs 555,600 crore) as a percentage of GDP for the same period, it may be inferred that India's defence budget in the year that will unfold will be under 1.75% of overall national GDP. This figure corresponds with ... Union Budget 2015 service tax hike: What got dearer? Your restaurant and ... Financial Express - ‎Feb 28, 2015‎ arun jaitley, union budget 2015, budget 2015, union budget live, live budget Finance Minister Arun Jaitley with MoS Jayan Sinha leaves for Parliament to present the annual budget 2015-16 from his office at North Block in New Delhi. PTI ... Budget 2015: Gold Monetization Scheme proposed to reduce demand for ... Economic Times - ‎Feb 28, 2015‎ NEW DELHI: In an innovative way to reduce demand for overseas gold, Finance Minister Arun Jaitley in his budget speech said, "We propose an Indian gold coin. This gold coin will have an Ashok Chakra." "The Indian gold coin will help recycle local gold and ... Union Budget 2015: Here is how Finance Minister Arun Jaitley fooled 'aam aadmi' India.com - ‎Mar 2, 2015‎ The service tax of 14% will adversely affect everyone, except the rich. The first full-year budget by Central government saw the corporates getting priority in the budget. The increase in various taxes will increase price of essentials and other commodities, ... India Inc cheers corporate tax cut, simpler rules Reuters - ‎Feb 28, 2015‎ Executives said measures announced by Finance Minister Arun Jaitley in the budget for the coming fiscal year should help rekindle growth, though questions remained over the ultimate impact of a raft of tax changes. In his first full-year budget since Prime ... Budget 2015 heralds dawn of fiscal federalism: Tushar Poddar, Goldman Sachs Economic Times - ‎Feb 28, 2015‎ The positive impact on growth could be even higher due to the shift in spending from subsidies to capex, and if the states were to spend some of their increased revenue share on boosting investment demand. With the share of states increasing so rapidly, ... 10 things you should watch out for in Union Budget 2015 Hindustan Times - ‎Feb 27, 2015‎ The stage is set for finance minister Arun Jaitley to present his first full-budget on Saturday amid heightened expectations that he would raise people's spending power by offering tax breaks and would announce measures to make India an investment-friendly ... Here's what India Inc. has to gain from Narendra Modi's budget Quartz - ‎Feb 28, 2015‎ The government, however, has also indicated gradual reduction of incentives and exemptions. General anti-avoidance rules, or GAAR, has been deferred for two years with no retrospective effect. Transfer pricing threshold has been increased from Rs5 crore ... Union Budget 2015-16: No change in income tax rates Business Today - ‎Feb 27, 2015‎ Finance Minister Arun Jaitley announced that there will be no change in the personal income tax regime, while presenting his first full year budget in Parliament on Saturday. The minister, however, said that additional 2 per cent surcharge will be implemented ... Union Budget: An opportunity missed for realty Financial Express - ‎Feb 28, 2015‎ Real estate is an industry that has a positive effect on many other sectors, and growth in this sector has a high correlation with economic growth. In his speech, Jaitley could have taken up issues that would have have benefited the economy through a growth ... Budget 2015 lays emphasis on soft infrastructure in the country: C. Sasidhar Economic Times - ‎Feb 28, 2015‎ The Union Budget 2015-16 presented by the Hon'ble Union Finance Minister could have a high and long lasting impact on society with its emphasis on rural and infrastructure development. The Government's strong intent to boost infrastructure development ... Global rating agencies rule out upgrade for India within a year Business Standard - ‎20 hours ago‎ S&P's Senior Director (Asia-Pacific Sovereign Ratings) Kim Eng Tan said: "In terms of the structural effects of the Budget, we see the improvement has been not as great as it could have been... We don't see the rating going up in the next year or so.". 'Visa on Arrival' to be extended to tourists from 150 countries The Dollar Business - ‎Mar 2, 2015‎ When asked what the larger impact of the budget would be, Sharma said, "This budget is not an immediate treatment. It is for the long term cure of the problems and the long term settlement of issues related to the economic situation of the country. Deficit slippage already here Business Standard - ‎20 hours ago‎ After the finance ministry in the Budget estimated the Centre's fiscal deficit at 4.1 per cent of India's gross domestic product (GDP) for 2014-15, official data issued on Monday showed the deficit had crossed the Budget Estimate (BE) by seven per cent by ... Budget 2015: Finance Minister Arun Jaitley stresses on 'housing for all' by 2022 Economic Times - ‎Feb 28, 2015‎ Savings CentreSavings NewsAnalysisCalculatorsPlan your carTax Impact CalculatorHome Loan Refinance CalculatorRetirement Savings Calculator Loan Tenure & Interest CalculatorLoan Break up Calculator Saving Target CalculatorFinal Worth of ... The Budgets That Shaped India Huffington Post India - ‎Feb 28, 2015‎ Each contained key measures that helped liberalisation. But nothing will ever equal the impact of the July 1991 Budget. It was drafted in crisis. Foreign Exchange reserves covering just 14 days of imports. India had pledged gold to cover external obligations. Budget 2015: Two game-changers that will make India a global financial hub Firstpost - ‎Mar 1, 2015‎ In effect, the IFC disrupts existing regulatory structures and recreates a more cohesive, more accountable financial architecture that oversees nine important moving parts - consumer protection, micro-prudential regulation, resolution, capital controls, systemic ... Bringing tax down while pruning sops may raise corporate burden Financial Express - ‎Mar 1, 2015‎ Union budget, highlights budget, budget, budget 2015, union budget 2015, arun In Budget 2015-16, Finance minister Arun Jaitley has announced reduction in corporate tax rate to 25 per cent over a 4 year period while pruning down exemptions. Reuters ... Budget evokes mixed response The Hindu - ‎Feb 28, 2015‎ Hansa Johny, homemaker, said the Budget would not bring any marked difference in the lives of people like her. "As a single woman, it is of no benefit to me. The decision to increase the service tax from 12.36 per cent to 14 per cent will affect my monthly ... The Indian Budget: Cautious But Resolute Forbes - ‎Mar 1, 2015‎ But the rural skills development focus may have immediate impact, given the training required to get young people coming of workforce age ready for the type of jobs in demand. Yoga got its due in the budget, too—it will be included as a "charitable purpose" ... Budget does not change our views on India's credit profile: Moodys Business Standard - ‎Mar 1, 2015‎ After the Budget deferred fiscal consolidation by a year, it was interesting to gauge the response of rating agencies. Atsi Sheth, senior vice president Moody's Investors Service, tells Indivjal Dhasmana that the Budget has not changed the rating agencies views ... Budget 2015: Growth-Oriented; But Implementation Is Key CXOToday.com - ‎Mar 1, 2015‎ Ashok Chandak, Chairman IESA: "Measures such as encouraging start-ups, addressing disabilities partially, skill development, funds with states, duty benefits for some products etc. will have incremental positive impact on the ESDM sector. This budget will ... Two faced budget by Mr. Jaitley Merinews - ‎11 hours ago‎ Impact of such steps is their element of surprise. For a highly intelligent person like our FM, to miss out on surprise seems strange. Coming to the third missing face ? the middle, neo-middle class, I think this class must be feeling like orphans in this budget ... What India Inc, experts feel about FM Arun Jaitley's Budget Business Today - ‎Mar 2, 2015‎ Also, increase in excise to 12.5 per cent would impact prices of goods sold. But overall, it's a progressive Budget. The assurance to speed up GST implementation is a welcome announcement for the industry as it will boost the country's manufacturing ... India budget brings little joy for shares Financial Times - ‎Mar 2, 2015‎ Taken together, the package will have "a positive impact on growth" which in time should filter through to corporate earnings, says Tushar Poddar, a Mumbai-based economist at Goldman Sachs. There were narrower measures of interest to global investors ... Modi's Budget: Short on Vision Newsweek - ‎22 hours ago‎ The Land Bill is the main current left-right battleground with the BJP trying to reduce the crippling impact of the last government's legislative restrictions on the use of agricultural and other rural land for industrial and infrastructure projects. Several Congress ... Union Budget 2015: Opportunity worth billions of dollars Financial Express - ‎Mar 1, 2015‎ Jaitley has proposed reduction in custom duty on 22 items, including raw materials, intermediates and components, to minimise the impact of duty inversion. There were duty cuts on metal parts used in electrical insulators, magnetron used in manufacturing ... Suzlon shares rise nearly 4% on hopes of Budget measures Business Today - ‎Feb 27, 2015‎ Suzlon Energy shares gained nearly 4 per cent on the domestic bourses on saturday on hopes of positive measures in Finance Minister Arun Jaitley's maiden full-year Budget. Traders cited speculation that government may increase allocations towards ... Budget 2015: Salaried class looks forward to PM Modi with great hopes Hindustan Times - ‎Feb 24, 2015‎ The salaried employee is also looking forward to the budget with great hopes. The salaried class has suffered from low hikes and bonuses since the Global Financial Crisis (GFC) in 2008. This, coupled with high inflation levels under UPA II, eroded their real ... Budget 2015: India's 2015/16 GDP growth seen at 8-8.5% y/y, says FM Arun Jaitley Economic Times - ‎Feb 28, 2015‎ The Economic Survey had yesterday said that growth will receive a boost from the cumulative impact of reforms, lower oil prices, likely monetary policy easing facilitated by lower inflation, and forecasts of a normal monsoon in 2015-16. The government ... India's budget The Economist - ‎Mar 1, 2015‎ Protect jobs, as India's labour laws do, and jobs are not created; it is far better to protect people from the impact of joblessness. If this was intended as a first step on a journey to labour-market reform, why not spell that out? Mr Jaitley used the world "road map" ... Smooth GST rollout crucial for future reforms Economic Times - ‎17 hours ago‎ One of the most awaited announcements in the budget was on the ease of doing business in India. The government has proposed to set up a committee to evaluate if businesses could be setup in India without obtaining prior registration which could be a ... Budget 2015: Mixed Response, but largely fair and balanced Businessinsider India - ‎Feb 28, 2015‎ "It is a balanced budget. For job creation and creators, some relaxations have been made. The budget appears to be encouraging more capital spending. It has also talked about less governance, which I feel, will have a goodimpact in the long run," said Birla. Indian Budget Contained Limited Proof of Progress for India Inc. Wall Street Journal (blog) - ‎Feb 28, 2015‎ While Mr. Jaitley announced that India's corporate tax rate would drop to 25% from 30% over the next four years, some executives were suspicious about what the net effect would be as the finance minister said the lower tax rate would be accompanied by a ... Should Hold Govt Accountable For Budget Promises Huffington Post India - ‎Mar 2, 2015‎ The focus on infrastructure and housing investments is good, as it will kick-start the economy and have a ripple effect across all Industries. The FM understands the need to kick start infrastructure projects through increased investments, the need to revitalize ... Column: Tax balm for foreign investors Financial Express - ‎Mar 1, 2015‎ For past transactions, the only solace is that in last year's Budget, it had been clarified that new cases, if any, will have to be first referred to a Committee which would decide on merits, whether a particular requires detailed examination. One can hope that a ... In respect of any tax changes with retrospective effect in the future, the government has reassured the investors that, ordinarily, retrospective tax provisions that adversely impact the stability and predictability of the taxation regime shall be avoided. After more than ... Union Budget 2015: 12 reform themes lift Jaitley's 2nd budget out of the ordinary Firstpost - ‎Feb 28, 2015‎ Many key changes have been announced to improve the ease of doing business, encourage entrepreneurship, expand tax compliance, and improve the delivery of social security benefits to the poor by reducing leakages, but the real impact of these changes ... Budget 2015 Live: Jaitley lowers corp tax rate, defers GAAR, taxes super rich Moneycontrol.com - ‎Feb 27, 2015‎ 12.50: Vallabh Bhansali says it is a great Budget it balanced between a lot of subjects. 12.42: The best attempt thisBudget has made is to provide detailed roadmap to curb blackmoney. The intent of the government is very clear and people trying to avoid tax ... Budget 2015: A bold attempt at inclusive, rapid growth Hindustan Times - ‎Mar 1, 2015‎ That the budget has not disappointed despite the sky high expectations is in itself creditable. More creditable is that it has not succumbed to populism despite the BJP's loss in the Delhi elections and the forthcoming Bihar elections. The Narendra Modi-Arun ... Global ratings agencies not much convinced with the Budget Mint Market Info - ‎12 hours ago‎ Moody's said the Budget has prioritised growth over fiscal consolidation but it may not have any impact on the country's sovereign rating. Though, it said that Union Budget 2015-16 is credit positive for corporates and a mixed bag for the banks. Budget 2015 – the safe debate: A Budget with no WOW, but hopes are alive exchange4media.com - ‎Mar 1, 2015‎ No motivation for them in this Budget. The fuel hike coinciding with the Budget day hasn't gone down with the common man who is still just around the impact line. Net-net it's a pragmatic Budget, many of the actions outlined need to be closely watched, ... Here's what a two-time Indian finance minister wants from Arun Jaitley's big budget Quartz - ‎Feb 27, 2015‎ The Delhi results have come on (Feb.) 10th, which is already quite late so impact on the budget, but I think the pressure on the finance minister will be to present an even better budget than he was planning. This article is a part of Quartz India. For more, follow ... A creative and intelligent Budget that walks the talk Financial Express - ‎Mar 1, 2015‎ This Budget has crossed of most 't's and dotted most 'i's but what is required now is for the government and industry to connect the dots in order to increase impact. And an excellent example of this is the announcement of launching the National Skills Mission ... Independent India's first federal budget Livemint - ‎Feb 28, 2015‎ In moving towards the direction that it has, the impact of Jaitley's budget will be felt beyond the confines of abudget; he has given the Bharatiya Janata Party (BJP) a distinct economic ideology. So far, bar the trimmings and wrapping, the economic policy of the ... Budget 2015: Govt determined to deliver change that will reignite international ... Economic Times - ‎Feb 28, 2015‎ The Government has sought to curtail the impact on taxation on indirect transfer of assets situated in India. Certain amendments have been proposed in respect of litigious areas that were left open when the provisions were originally introduced by the ... How The Union Budget Affects Property Buying Sentiments Businessworld - ‎Feb 26, 2015‎ Union Budget 2015-'16 is going to be presented this Saturday (28 February) and as always, Indiand are waiting to see what it holds in store for them. The property sector in particular is very sensitive to the annual budget, because it has a direct impact on how ... Union Budget 2015-16: Boost consumer durable manufacturing by reducing ... Business Today - ‎Feb 25, 2015‎ The upcoming Union Budget is very crucial in terms of bringing the Indian economy back on the growth track, curbing the Budget deficit and creating an investment friendly environment. The Budget needs to address issues of simplifying tax regulations, ... A good Budget for most reasons Deccan Herald - ‎Mar 1, 2015‎ The middle class and individual tax payers may have a grouse that they did not benefit. But the overall impact of the budget on the economy should be positive, though, perhaps, only over the medium term. It can strengthen some of the declared themes of the ... Rating firms flay fiscal consolidation delay; rule out upgrade Zee News - ‎Mar 1, 2015‎ ... any immediate upgrade in India's sovereign ratings, global and domestic agencies have red-flagged the country's delayed fiscal consolidation roadmap and have warned against any slippages from the "ambitious" disinvestment plan proposed in Budget. Broadcasters welcome the move to reduce corporate tax exchange4media.com - ‎Mar 1, 2015‎ Eshita Surana, Director, Aakash Aath said, "It is overall a very positive budget and will have good impact on the economy. But only one negative point I felt about the budget though you see the media industry is a very growing sector and has huge potential in ... Budget 2015: Telephone bills to pinch more Financial Express - ‎Feb 28, 2015‎ "This is likely to dilute the positive impact of reduction of tariff charges proposed by TRAI," PwC India Partner (Indirect Tax) Amit Bhagat said. Commenting on the overall budget, Mathews said telecom industry’s issues has not been addressed. "While a ... India Inc Expects Tax Reforms, Financial Balance in Budget NDTV - ‎Feb 26, 2015‎ "The various announcements made by the government over the course of last seven to eight months did have a positive impact on the sentiment of the business community; however in order to sustain this buoyancy, it will be important that the process of ... Overall good Budget, but no measures for the pharmaceutical sector Business Today - ‎Feb 28, 2015‎ The Finance Minster has presented a good Budget that is expected to spur India's economic growth and global competitiveness. The proposal to reduce corporate tax from 30 per cent to 25 per cent over the next four years is a positive move that is expected to ... Kerala has much to worry about budget The Hindu - ‎Feb 28, 2015‎ Even more worrisome for the State could be the implications of the theory and practice of budget-making that Mr. Jaitley has resorted to and the way the Centre's perceptions about planning and resource devolution are likely toimpact the quantum of funds that ... Our View: Arun Jaitley delivers a landmark budget Livemint - ‎Feb 28, 2015‎ The landmark budget presented in 1997 by P. Chidambaram had come after a modest attempt the year before. The same can be said of the second Yashwant Sinha budget in the year 2000. Both had an impact far more than the tax reductions that people ... Budget a bold roadmap to ease doing business in India: USIBC Zee News - ‎Feb 28, 2015‎ The US-India Business Council (USIBC), a business advocacy organisation representing global companies investing in India, said many reforms announced in the budget targeted to encourage infrastructure development, modernise capital markets, reduce ... Budget 2015: What FM had in store for Private Equity players Economic Times - ‎Feb 28, 2015‎ Although intricacies of its impact coupled with withdrawal of exemptions are to be seen, it underlines the Finance Minister's promise to have certainty in the Indian income tax regime. Also, the explicit disposal of the Direct Taxes Code goes hand-in-hand with a ... Union Budget 2015: Win some, lose some Financial Express - ‎Feb 28, 2015‎ This will definitely have an impact on consumer spending and will create pressure on the margins of businesses," says Rakesh Biyani, chief executive of Future Group, adding, "The state governments are yet to announce theirbudgets and they might increase ... Budget 2015: Financial services sector's wish-list partly addressed Economic Times - ‎Feb 28, 2015‎ ... in future, deferral of GAAR, clarity on the indirect transfer provisions, are welcome steps. Certain provisions may need some tweaks to enhance their impact for the industry participants. (Views are personal). For more budget related news click: Budget2015. Budget 2015: Taking wing Livemint - ‎Feb 28, 2015‎ It is also a function of analysts, industry, and the man on the street seeing more in the budget beyond the inflationary impact of the recalibration of indirect taxes. For starters, the budget smacks of realism (like Suresh Prabhu's Railway Budget did two days ago) ... Budget highlights: Jaitley cracks down on black money, delays cut in fiscal deficit Hindustan Times - ‎Feb 28, 2015‎ Finance minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Here are the highlights of Jaitley's budgetfor ... Is it good or bad Budget for market? Experts analyse Moneycontrol.com - ‎Feb 28, 2015‎ Kela: It is a good Budget. It is very well balanced. There is a lot which is being done for the rural economy as well and this reduction of corporate taxation and the clarity, let me repeat the word clarity for the next four years, anyone who is investing in India whether it is a financial investor or whether it is a corporate investor know exactly the road map for .... So if you put all three together for the first time now, we will start to see impact of company valuations and fundamentals coming to the market more than liquidity. Budget 2015: Corporate Winners and Losers NDTV - ‎Feb 28, 2015‎ Excise duties were raised on cement, which could impact demand and sales of companies like UltraTech Cement, Ambuja Cements and Star Ferro and Cement. Public sector banks. India will inject $1.3 billion into state-owned banks in the next fiscal year to ... Budget twenty15: Good news is there's no bad news Mumbai Mirror - ‎Feb 28, 2015‎ On Saturday, in keeping with its annual tradition, Mumbai Mirror invited eight panellists to view Finance Minister Arun Jaitley's UnionBudget and analyse its impact on the sectors that they represented. This year, those at the table included experts each on ... Rating discomfort over deficit lag Calcutta Telegraph - ‎Mar 1, 2015‎ New Delhi, March 1: Rating agencies keeping a close track of India's economic progress have decided not to change the country's credit profile but warned that the relaxed fiscal consolidation plan in the budget was a constraint. Moody's said it remained "credit neutral" on India though the budget delayed the fiscal ... There are potential downsides, which could impact the economy, tax collections, stock markets and ultimately the sovereign rating. These could be account of a rise in crude oil prices, which could make ... Higher fiscal deficit: Rating agencies frown at fine-print Zee News - ‎Mar 1, 2015‎ Mumbai: Rating agencies have not red-flagged the Budget stretching fiscal deficit target by 0.3 percentage points to 3.9 percent in FY16, but cautioned that higher borrowings should be used for only capacity-building in the economy. "This is a deviation from ... BSE Sensex does U-turn, rises 141 pts to close at 29361 on Arun Jaitley's ... Financial Express - ‎Feb 27, 2015‎ The Narendra Modi government's first full-year Budget turned out to be a volatile affair for stocks with the Sensex swinging 700 points, but promise of lower corporate taxes and deferral of GAAR helped the benchmark finally end 141.38 points up — the first rise on a .... In the short term, we can see consolidation till the impact from Realty (would DDT will applicable or not for REIT, no change in individual tax exemption) and Infra (how to move out of stuck projects) is clearly understood since expectation was very high. Budget 2015: Service Tax, Indirect Taxes to mop more money Zee News - ‎Feb 28, 2015‎ New Delhi: The Finance Minister Arun Jaitley on Saturday announced a series of steps to broaden the tax base to garner more receipts. The Service Tax rate is being increased from 12% plus Education Cesses to 14%. The new service tax rate shall subsume ... Budget 2015: Setting up of large projects to become easy Financial Express - ‎Feb 28, 2015‎ As far as extra funds allocated to the Mahatma Gandhi National Rural Employment Guarantee Scheme and infrastructure development is concerned, I don't think that will have an immediate impact on vehicle sales. We would like to see Indian agriculture ... Union Budget 2015: Jaitley proposes to hike service tax rate to 14% Moneycontrol.com - ‎Feb 27, 2015‎ The government was expected to hike service tax rate this time. A two percent service tax rate hike could have yielded over Rs 30,000 crore to the cash-starved government. A service tax rate change would have needed amendment in the Finance Act. Budget 2015: How the Big Bang turned into a Damp Squib Times of India (blog) - ‎Feb 28, 2015‎ So the RBI's wings have been clipped, and we will soon have a so-called 'monetary policy committee' – presumably staffed by finance ministry yes-men, to look at all policies that could impact inflation. Good luck, folks. But why fret over four or seven year ... Experts: Budget 'well-balanced' Times of India - ‎Feb 28, 2015‎ Guwahati: Prime Minister Narendra Modi government's first full general budget 2015-16, presented in Parliament by Union finance minister Arun Jaitley on Saturday, has made a positive impact on the northeast's business circles, economists and policy ... Budget 2015: Well balanced mix of consumption & capital expenditure to assure ... Economic Times - ‎Feb 28, 2015‎ The budget is well balanced towards both consumption and capex. Better balance has also been maintained in both rural and urban spending. Several micro initiatives mean the aggregate positive impact on growth could be decent. While there is some ... Union Budget: Precise & well-designed Financial Express - ‎Feb 28, 2015‎ One area which is perhaps not directly related to the Budget, but where we would like to see some announcement is on labour regulation, which needs to be such that it encourages hiring. It should encourage employment and allow flexibility on training and ... Budget Live: Corporate tax to be cut by 5 pct in 4 years; no change in income tax ... Financial Express - ‎Feb 28, 2015‎ The net impact of all tax proposals would be a revenue gain of Rs 15,068 crore. The education cess of 2 per cent and 1 per cent higher education cess is proposed to be continued in the next year for all tax payers. Jaitley said the Indian Economy has turned ... Be happy budget: Middle class gets saving, investment options Deccan Chronicle - ‎Feb 28, 2015‎ New Delhi: Finance minister Arun Jaitley on Saturday unveiled a Budget that sought to push growth by proposing to cut the corporate tax rate by five per cent over four years to make India competitive with Asean economies and increased public spending. He sought the happiness of people while quoting the Upanishad Om ... The net impact of all direct and indirect tax proposals in the next fiscal will result into a revenue gain of Rs 15,068 crores for the government. While direct tax proposals will lead to a revenue loss, ... Budget has roadmap to propel economic growth Business Today - ‎Feb 28, 2015‎ The incentives and reforms announced in other sectors that majorly include taxation and urban-rural development willimpact the home loan businesses. The fiscal target of 3 per cent as announced by the Finance Minister is practical while at the same time it ... I'm on the side of both the poor and industry: Arun Jaitley Livemint - ‎Mar 1, 2015‎ 'Is it an Amartya Sen budget?' Critics are saying that you have deferred your fiscal consolidation plan and, at the same time, announced an ambitious increase in central plan outlay. What is the central message of your budget? When we inherited the ... This will have its impact. I am now going to allow railways, highways and irrigation projects to raise money from tax-free bonds. And three, we earmarked separate funds, some I have just announced the contributions. PSUs (public-sector units) will also contribute. No achche din, says industry Times of India - ‎Mar 1, 2015‎ The micro, small and medium enterprises (MSMEs), the backbone of Indian economy, have flayed the Modi government's first General Budget citing absence of hike in excise duty exemption, increase in service tax to name a few. City-based ... Corporate India reacts positively to range of Budget 2015 proposals Business Standard - ‎Feb 28, 2015‎ "The FM has taken comprehensive steps in the budget to address the core issues of fostering growth with equity, boosting investments and creating jobs over the medium to long term. The focus on agriculture, infrastructure, health and education will enhance ... India in a sweet spot, says Economic Survey Hindu Business Line - ‎Feb 27, 2015‎ The Survey, which sets the tone for the Budget, sent the stock market surging, with the Sensex closing 473 points up on expectations of a business friendly initiative by Finance Minister Arun Jaitley tomorrow. The Survey, authored by Chief Economic Advisor, ... India Inc cheers corporate tax cut, wealth tax abolition Zee News - ‎Feb 28, 2015‎ "It is a positive and growth-oriented budget and we think it will give a kickstart to the philosophy the Finance Minister laid down of economic growth and job creation. We really appreciate the strong focus on curbing black money in terms of ensuring that wealth ... Budget 2015: In largesse to states, more could actually be less Times of India - ‎Mar 1, 2015‎ Apart from the finance commission, the decline in international oil prices too has had a significant impact on thebudget numbers. Apart from the indirect effects, the direct effect alone has translated into the oil subsidy bill falling to less than half to be pegged at ... 10 things Modi Sarkar should do in Budget 2015 Firstpost - ‎Feb 27, 2015‎ The budget other than being a revenue and expenditure statement of the government is also the time when governments tend to announce their policy stance on various issues. It is also the time around which major economic reforms tend to be announced. .... Therefore, the interactive impact of tax incentives could turn out to be different from the revenue foregone calculated by adding up the estimates and projections for each provision." While there are many assumptions behind the revenue foregone number, it is ... Towards making India an economic superpower mydigitalfc.com - ‎Feb 28, 2015‎ The finance minister in his budget speech spoke about increasing housing stock. At best, it can be viewed as a 'statement of intent', and since there was nothing concrete in the speech as regards how the implementation will take place - we will have to wait for ... Cut in basic corporate tax but exemption list to be pruned The Indian Express - ‎Feb 28, 2015‎ The Union Budget has held out the promise of a cut in the basic corporate tax rate, from the current 30 per cent to 25 per cent over the next four years, accompanied by a pruning of exemptions currently enjoyed by the sector. While industry has broadly cheered the cut in basic rate, for a majority of firms in the manufacturing sector, the proposed cuts in exemptions could mean an increase in overall tax impact, considering that effective tax rate of the manufacturing sector this fiscal is estimated to be at 21.96 per cent ... Tax sops likely in Modi government's first full year Budget on Saturday Economic Times - ‎Feb 27, 2015‎ NEW DELHI: Finance Minister Arun Jaitley will present tomorrow the first full year Budget of the NDA government, which is termed as a 'make or break' fiscal exercise widely expected to unveil pro-common man measures and push forward 'Make In India' ... Union Budget 2015: Corporate tax to be cut by 5 per cent in 4 years; no change ... IBNLive - ‎Feb 28, 2015‎ In the first full-year Budget of the NDA government that shunned populism, he proposed no changes in personal and corporate income-tax rates for 2015-16 but extended benefits to middle-class by increasing the limit of deduction on health insurance premium from Rs 15,000 to Rs 20,000. For senior citizens, it will .... Finance Minister said basic custom duty on certain inputs, raw materials, intermediates and components in 22 items is proposed to be reduced to minimize the impact of duty evasion. All goods except ... Union Budget 2015: Arun Jaitley offers a realistic blueprint for growth, but ... Firstpost - ‎Feb 28, 2015‎ But, one critical area, missing the in the budget speech at least, is the much-needed capital infusion of public sector banks. If the government does not give banks adequate capital support, this can have an adverse impact on India's ailing state-run banks, ... See some merit in Govt choice to stimulate investment, GDP growth: Thomas ... Economic Times - ‎Mar 2, 2015‎ Atal Pension Yojana to be launched: FM; Transport allowance exemption increased to Rs 1600 per month: FM; Investor's Guide:Budget 2015 impact on you – Part 1. Atal Pension Yojana to be launched: FM; Transport allowance exemption increased to Rs ... Is India the Next Big Growth Story Singapore's Investors Should Take Note Of? The Motley Fool Singapore - ‎13 hours ago‎ Investors interested in the growth of India should pay attention to its Budget 2015 delivered last Saturday. In his first ever Budget presentation after his election win, India's Prime Minister Narendra Modi listed out many reforms and proposals which he thinks ... No respite for Vodafone as Arun Jaitley maintains status quo on past offshore ... Economic Times - ‎Feb 28, 2015‎ "The clarification on indirect transfers is fair and reasonable as it will only impact any change in strategic interest, and not minority stakes. Moreover, the ... However, the festering dispute with Vodafone or similar cases will not end with the Budget clarification. Union Budget 2015: It is pro-poor, Opposition has lost it, say NDA ministers IBNLive - ‎Feb 28, 2015‎ New Delhi: Finance Minister Arun Jaitley's Cabinet colleagues have praised him for the Union Budget 2015 calling historical, pro-poor and visionary. Prime Minister Narendra Modi ... no scope of black money left in it. This will have long-term positive impact." ... Union Budget 2015 Live: Jaitley's budget will help India rise to new highs, Modi ... Firstpost - ‎Feb 28, 2015‎ Jaitley has continued to defend not raising income tax exemptions for the salaried class saying that if one considered the lastbudget and this one then no one had ever given the salaried middle class as much tax exemption. He said that the government wanted to encourage people to save more and that too for their future. ... India wants to rise quickly and the law could have animpact on investment, he said. "GAAR raises issues on investment in India...As we proceed on our fiscal thinking we will have to take into ... "There is nothing big for the automotive sector in the Budget 2015" ET Auto - ‎Feb 28, 2015‎ The head of the automotive business at M&M expressed relief over subsidy extension to electric vehicle, but said Rs 75 crore is too little to be spread across the entire eco-system of infrastructure, R&D and product subsidy to have a meaningful impact, he ... Time to start delivering The Hindu - ‎Feb 28, 2015‎ The promise could be put off for a while; Mr. Arun Jaitley used his interim budget largely to replace beneficiaries of the previous regime with favourites of his party. Otherwise ... If it did that, it would not have to worry about the inflationary impact of larger deficits. Giving gold its due and indigenising the lustre Financial Express - ‎Feb 28, 2015‎ WITH Budget 2015-16 unveiling plans to tap over 20,000 tonne of gold stocks in the country, Indian housewives, the world's largest hoarders of the metal, will have reasons to let go of their holdings and show off sovereign gold coins adorned with the Ashok Chakra. The finance minister on Saturday proposed to introduce fresh gold deposit accounts by banks, to launch a sovereign gold bond and to bring in India gold coins — aimed at curbing bullion imports to contain its debilitating impact on trade deficit. However ... Budget Goes for Growth, Delays Cut in Fiscal Deficit NDTV - ‎Feb 28, 2015‎ Mumbai: Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Mr Jaitley set the country's fiscal deficit target for the 2015/16 fiscal year at 3.9 per cent of gross domestic product and said it ... IMPACT ON COMPANIES, TAXATION. NITIN JAIN, CEO OF RETAIL CAPITAL MARKETS AND GLOBAL ASSET MANAGEMENT, EDELWEISS, MUMBAI. "I would rate the ... Budget 2015: Reaction from the tech industry Deccan Chronicle - ‎Feb 28, 2015‎ The increase will however impact our software sales. The lack of infrastructure development was a concern and it is well addressed in this budget with clear road maps and allocation. This will contribute to the overall development of the country. Reduction in ... Rathin Roy: Numbers need to back the politics better Business Standard - ‎Feb 28, 2015‎ Comparing the 2015-16 Budget estimates with the 2014-15 revised estimates, the government has reduced total expenditure by 0.7 per cent while increasing central Plan expenditure by 0.35 per cent. Expenditure reduction has been achieved by reducing ... Union Budget: Certainty in tax regime Financial Express - ‎Feb 28, 2015‎ This will impact other foreign investors and taxation of other income. The intended provisions for use of credit cards for transactions and the stringent provisions for offshore assets hoard are steps in the right direction for expanding the tax base. Jaitley presents budget of promise, inclusion The Shillong Times - ‎Feb 28, 2015‎ New Delhi: Shunning populism, the Union Budget for 2015-16 on Saturday proposed a 5 per cent reduction in corporate tax over the next four years, replacing of wealth tax with an additional 2 per cent surcharge on super-rich and raised excise duty and ... India budget 'a step in the right direction,' but 'no quantum leap' Deutsche Welle - ‎Feb 28, 2015‎ On February 28, Finance Minister Arun Jaitley announced a host of new measures in the government's first fullbudget, including increased spending in infrastructure, a universal social security scheme and an unprecedented corporate tax cut to 25 percent over the next four years. Jaitley said India was "about to take off" and it was .... primarily through off-budget incentives. These make sense, but absent real changes that will liberalize factor markets (land, labor, capital), their impact will be rather limited I am afraid. India's New Budget Aims to Boost Growth New York Times - ‎Feb 28, 2015‎ Mr. Modi's government has submitted an executive ordinance that would eliminate the consent clause and the requirement of a social impact assessment if land is to be used in certain ways — for industrial corridors, and affordable housing, among others ... Defence budget hiked by nearly 11% Daily News & Analysis - ‎Feb 28, 2015‎ On Saturday, the defence budget was increased by 10.95 % to Rs 2.46 lakh crore for the next fiscal as compared to the revised estimates of Rs 2.22 lakh crore for 2014-15 as the government focuses on 'Make in India' to curtail over-dependence on imports. The defence budget accounts for nearly 13.88 % of the total central ... But I think instead of saying we will spend hundred thousand crores, we would like to hear the impact in quantitative growth terms. After all Modi talked of growth. Can the media take the lead in ... Expect growth marked by macroeconomic stability Daily News & Analysis - ‎Feb 28, 2015‎ The Union Budget is intended to take the economy to a higher growth trajectory at a time marked by macroeconomic stability. Currently, CPI inflation is around 5.1%, current account deficit is veering around 1.9% of GDP, and fiscal deficit has been contained ... Budget 2015 has 10 challenges; Jaitley cannot afford to screw up this time Firstpost - ‎Feb 27, 2015‎ The countdown to the NDA government's most important economic statement has begun and this noon Narendra Modi and Finance Minister Arun Jaitley will let us know whether Budget 2015-16 is going to set the Yamuna on fire or will just be more of the same. ... which is sure to recommend a higher level of resource transfers to states; and the report of the Seventh Pay Commission for government employees, which too will recommend pay increases andimpact central and state expenditures from 2016-17 onwards. All said and cut, good days hard to spot in speech Calcutta Telegraph - ‎Feb 28, 2015‎ The budget also proposed a hike in service tax which, along with the hike in freight rates announced in the railbudget, might have an inflationary impact and reduce the purchasing power of the aam aadmi. Given the reality of revenue realisation lagging ... Chanakya's View: Surrogate measures Deccan Chronicle - ‎Mar 1, 2015‎ The Budget should have focused on providing allocations for better seeds, fertilisers and pesticides, improved and wider irrigation techniques, credible credit avenues and effective satellite mapping. ... This will certainly have an all round inflationary impact. Budget 2015: Times guide to corporate tax Times of India - ‎Feb 28, 2015‎ Impact: The effective corporate tax rate for domestic companies having income exceeding Rs 1 crore but not exceeding Rs 10 crore would increase from 32.445% to 33.063% and effective rate of MAT would increase from 20.01% to 20.38%. The effective ... Finance Minister Arun Jaitley scores on social media Business Today - ‎Feb 28, 2015‎ On a springy Saturday, it was a close contest between cricket and the Budget. Would a nation of 1.2 billion choose to tune into the Cricket World Cup or watch the presentation of a document that would impact their financial destiny in the year to come? Government recognises value of start-ups Daily News & Analysis - ‎Feb 28, 2015‎ As expected, 'Make in India' was the flavour and it was heartening to see the government recognise the value of theimpact being created by start-ups like ours. Being mindful of the brain drain happening from India due ... can propel the economy towards a double-digit growth. However, the positive intent of the budget notwithstanding, the government has to ensure the on-ground implementation of these announcements and build in a framework of measurable metrics to continuously monitor and augment the policy. Budget 2015: Arun Jaitley Budget is push for growth The Asian Age - ‎Feb 28, 2015‎ Finance minister Arun Jaitley on Saturday unveiled a Budget that sought to push growth by proposing to cut the corporate tax rate by five per cent over four years to make India competitive with Asean economies, increased public spending and deferred the controversial GAAR by two years. He abolished wealth tax, but introduced an ... The net impact of all direct and indirect tax proposals in the next fiscal will result into a revenue gain of Rs 15,068 crores for the government. While direct tax proposals will lead to a ... Budget 2015-16 Marks the Beginning of Co-Operative Federalism and ... Business Standard - ‎Feb 28, 2015‎ Presenting the General Budget for the year 2015-16 in Lok Sabha today, he said macro-economic stability has been restored and conditions have been created for sustainable poverty elimination, job creation and durable double digit economic growth. ..... in the context of promotion of domestic manufacturing and 'Make in India', the Finance Minister said basic custom duty on certain inputs, raw materials, intermediates and components in 22 items is proposed to be reduced to minimize the impact of duty evasion. Budget 2015: Tax axe falls on Indian start-ups based overseas Times of India - ‎Feb 28, 2015‎ Indian companies, especially startups which are increasingly being incorporated overseas, must watch out. The Budget fine print says these companies will now be treated as Indian for tax purposes as long as their senior management is located in the country ... Fiscal deficit target of 3.9% by FY16 The Hans India - ‎11 hours ago‎ The Budget is expected to have a positive impact on the banking industry. A key growth driver of the Indian banking sector includes financial inclusion which will help the banking sector to achieve its aim of expansion and growth. Key measures announced ... Jaitley avoids 'big bang' to present budget of promise, inclusion (Roundup) Business Standard - ‎Feb 28, 2015‎ ... of Jaitley's budget include universal social security with health insurance coverage for the poor, a new bankruptcy law, a fresh gold monetisation scheme, the deferment of much-criticised General Anti-Avoidance Rule by two years with prospective effect, ... Budget 2015: Market Dances To 'Modinomics' Free press journal - ‎Mar 1, 2015‎ Hike in service tax is likely to impact large segment and some roll back going forward is not ruled out. Private Banking counters and Pharma stocks witnessed value buying as it had some sops from the budget proposals. Hike in excise duty on tobacco ... Budget 2015: Basic customs duty cut, service tax increased Times of India - ‎Feb 28, 2015‎ Presenting the budget for 2015-16 in Parliament, Jaitley said the direct taxation should match the transformation in indirect taxes expected to be brought in by the introduction of Goods and Services Tax (GST) April 1, 2016 onwards. He said the 30 percent corporate tax is higher than the rates prevalent in other major Asian economies ... This would minimise the impact of duty inversion and cut manufacturing cost. Other proposals include: - Excise duty reduction on footwear with leather uppers costing more than ... Union Budget 2015-16: Corporate tax to be cut by 5 per cent in 4 years; no ... India.com - ‎Feb 28, 2015‎ In the first full-year Budget of the NDA government that shunned populism, he proposed no changes in personal and corporate income-tax rates for 2015-16 but extended benefits to middle-class by increasing the limit of deduction on health insurance premium from Rs 15,000 to Rs 20,000. (Read: LIVE Union Budget 2015-16 by Finance Minister Arun Jaitley ... The net impact of all tax proposals would be a revenue gain of Rs 15,068 crore. The education cess of 2 per cent and 1 per cent higher education cess is .. India budget insights (2015-16) Lexology (registration) - ‎Mar 2, 2015‎ Extending the much needed SARFAESI benefits to large NBFCs and introduction of a comprehensive bankruptcy code are measures that will have a significant impact. The Government has also announced various initiatives to facilitate simpler regulatory ... Jaitley avoids 'big bang' to present budget of promise, inclusion (Roundup) Business Standard - ‎Feb 28, 2015‎ ... of Jaitley's budget include universal social security with health insurance coverage for the poor, a new bankruptcy law, a fresh gold monetisation scheme, the deferment of much-criticised General Anti-Avoidance Rule by two years with prospective effect, ... Budget 2015: Market Dances To 'Modinomics' Free press journal - ‎Mar 1, 2015‎ Hike in service tax is likely to impact large segment and some roll back going forward is not ruled out. Private Banking counters and Pharma stocks witnessed value buying as it had some sops from the budget proposals. Hike in excise duty on tobacco ... Budget 2015: Basic customs duty cut, service tax increased Times of India - ‎Feb 28, 2015‎ Presenting the budget for 2015-16 in Parliament, Jaitley said the direct taxation should match the transformation in indirect taxes expected to be brought in by the introduction of Goods and Services Tax (GST) April 1, 2016 onwards. He said the 30 percent corporate tax is higher than the rates prevalent in other major Asian economies ... This would minimise the impact of duty inversion and cut manufacturing cost. Other proposals include: - Excise duty reduction on footwear with leather uppers costing more than ... Union Budget 2015-16: Corporate tax to be cut by 5 per cent in 4 years; no ... India.com - ‎Feb 28, 2015‎ In the first full-year Budget of the NDA government that shunned populism, he proposed no changes in personal and corporate income-tax rates for 2015-16 but extended benefits to middle-class by increasing the limit of deduction on health insurance premium from Rs 15,000 to Rs 20,000. (Read: LIVE Union Budget 2015-16 by Finance Minister Arun Jaitley ... The net impact of all tax proposals would be a revenue gain of Rs 15,068 crore. The education cess of 2 per cent and 1 per cent higher education cess is ... Budget 2015 could be the most significant since Manmohan Singh's 1991 budget Firstpost - ‎Feb 23, 2015‎ Another question which is being hotly discussed is whether the drubbing the Bharatiya Janata Party got at the hands of the Aam Aadmi Party in the recently-concluded Delhi assembly elections will impact Budget 2015, and how. Will the government respond ... Union Budget and Automobile Industry in the last decade Business Standard - ‎Feb 27, 2015‎ Compared to the budget in 2009-2010 fiscal, the budget for 2010-2011 had significant effect on the automobile sector. As per thebudget for that year, 10 per cent tariff was imposed on small cars. Prior to that small cars benefited from 8 per cent excise tariff. Let's give the FM his due The Asian Age - ‎Mar 1, 2015‎ But the expectations of any major changes in how money will be raised and how it will be spent are quite unreal given that a Budgetis pretty well set weighed down by past commitments to programmes — plan allocations, fixed expenses and interest. Interest takes up almost a quarter of any Budget, while ... The other advantage is that this will reduce the incidence and potential for corruption and will hopefully have an overall impact on national character. It will also result in savings, but it is too early to quantify it. India's budget is good for growth The National - ‎Feb 28, 2015‎ The Indian finance minister Arun Jaitley yesterday announced a progressive growth-oriented budget, concentrating on macroeconomic stability and increasing investment into the infrastructure and manufacturing sectors. The positive macroeconomic environment has helped in controlling inflation and the current-account ... A slew of measures have been proposed in this regard, and one would have to see the impact it may create. India is a youthful democracy, still in its building stages. With its geographical size and ... Mixed response to Jaitley's first full year budget New Kerala - ‎Feb 28, 2015‎ Union Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi told ANI on Saturday, "We take this budget as the progress of the nation. The budget is trying to involve everyone in the development process. It will have a positive result and impact." Budget 2015: Expectations from the Industry Deccan Chronicle - ‎Feb 27, 2015‎ This budget should take measures to reduce complex and heavy taxation in terms of both personal and corporate income tax. The economy will benefit with more incentives for the service industry especially tourism. There will be multifold impact of ... Union Budget 2015: Expect RBI to reduce rates by 50-75bps in FY16 - Kotak Sec Moneycontrol.com - ‎Mar 1, 2015‎ The 3.9% FD is tolerable especially in view of the acceptance of the 14thFinance Commission impact and is achievable. We expect RBI to cut interest rates by 50-75bps over FY16. Markets will stay buoyant, if execution matches intent. The FM has targeted ... Union Budget 2015: Tech leaders react to Arun Jaitely's blueprint BGR India - ‎Mar 1, 2015‎ Hyun Chil Hong, President and CEO of Samsung India Electronics said, "As a company with deep investments in India, Samsung sees this as a progressive budget, one which provides an enabling business environment for foreign investment. It further motivates us to take our 'Make in India' story to the next level. ... In that context, the service tax rate going up is a concern, because of the impact it could have of driving people to use pirated software. Especially, because of the dual tax on software – the net tax rate for ... Budget 2015: Reduction in corporate tax rates to ultimately usher in job ... Economic Times - ‎Feb 28, 2015‎ Whilst the law was introduced with retrospective effect starting from tax year 1.04.1962, Memorandum explaining provisions to Fb 2015 makes curative amendment effective prospectively from 1 April 2016 i.e. financial year 2016-17. One would have liked that ... Jaitley cuts corporate tax, rolls out benefits for middle class onmanorama - ‎Feb 28, 2015‎ Finance Minister said basic custom duty on certain inputs, raw materials, intermediates and components in 22 items is proposed to be reduced to minimize the impact of duty evasion. All goods except populated printed circuit boards for use in manufacture of ... The Sholay of All Budgets: Mitrajit Bhattacharya exchange4media.com - ‎Mar 1, 2015‎ Pre-Budget: Now that the Government will achieve its target of 4.1% of GDP as the fiscal deficit, the FM should go ahead with on-course announcement of fiscal deficit of around 3.5 to 3.6% for 2015-16. There can't be any better time than this as the import bill of fuel is at an all-time low. Spectrum auction ... This announcement can have far reaching impact benefitting households as well as the macro economy at large. Pre-Budget: The main concern lies with implementation of GST. Though it's likely to be implemented ... Claude Smadja: Open for business, at last Business Standard - ‎Feb 28, 2015‎ Also very significant for its impact as well as for the message it sends to the domestic and foreign community is the impetus that the Budget means to give to entrepreneurship, the development of start-ups and research and development, and the promotion of ... Budget 2015-2016 : 'Dream Budget'? Moneycontrol.com - ‎Feb 28, 2015‎ "However, much of the reforms process outlined in the budget proposals needs to be realized through tangible steps over the year. It remains to be seen how reforms unfold and take shape in terms of GST implementation and TARC recommendations. Impact ... Budget 2015: Mixed reactions to entreprise-related measures Economy Lead - ‎Feb 28, 2015‎ However, we'll need to review the notifications before any predictions could be made on the impact on the sector," Ohrie said. Startups such as Wegilant, an IIT Bombay incubated cloud-based mobile app security company with flagship product Appvigil, have ... Markets can rally 20-30% if Budget 2015 meets partial expectations: Jim O'Neill Economic Times - ‎Feb 24, 2015‎ As you can see in the past few weeks, the markets are already a worried lot about Greece, but it didn't affect Italian or Spanish bond yields. Hence, Greece didn't have relevance beyond Europe. And for India to get negatively impacted, the markets would need ... 5% cut in corp tax in 4 years, surcharge on super-rich goes up DeshGujarat - ‎Feb 28, 2015‎ Shunning populism, the Union Budget for 2015-16 today proposed a 5 per cent reduction in corporate tax over the next four years, replacing of wealth tax with an additional 2 per cent surcharge on super-rich and raised excise duty and service tax rates that will make a host of articles and services costly. In the first full-year Budget of the NDA government, Finance .... The net impact of all tax proposals would be a revenue gain of Rs 15,068 crore. Jaitley said the Indian Economy has turned around dramatically in the ... Personal tax rates unchanged, wealth tax abolished, corporate tax to come down ... NetIndian - ‎Feb 28, 2015‎ "After taking into account the tax concession given to middle class tax payers in my last Budget and this Budget, today an individual tax payer will get tax benefit of Rs 4,44,200. As and when my fiscal capacity improves, individual taxpayers will have a lot to ... Budget 2015: Decoding Finance Minister's poetry during the budget speech indiatvnews.com (press release) (blog) - ‎Feb 27, 2015‎ There are high expectations among the common man of the upcoming Budget as they want to see some significant policy changes that would make a positive impact on their day-to-day lives. Clearly, the burden of expectations will be enormous for the finance ... Corporate Friendly? Damn Right It Is Outlook - ‎Feb 28, 2015‎ For the Indian corporate sector, the Union Budget has brought in a lot of cheer, even though the juicy benefits of the proposals would not be realised in the coming financial year. That's because while there would be no reduction in corporate income tax in the ... Companies look at lower tax, super-rich at surcharge, others get bigger ... Calcutta Telegraph - ‎Feb 28, 2015‎ Shunning populism in the first full-year budget of the National Democratic Alliance, Jaitley proposed no changes in personal and corporate income-tax rates for 2015-16 (corporation tax will go down to 25 per cent after a year) but extended benefits to middle-class by increasing the limit of deduction on health insurance premium from Rs 15,000 to Rs 20,000. For senior citizens, it will go up from Rs ... The net impact of all tax proposals would be a revenue gain of Rs 15,068 crore. Announcing new insurance schemes, ... Union Budget 2015: GDP growth may move to double digit in coming years: GEPL Moneycontrol.com - ‎Feb 25, 2015‎ 'Make in India' campaign started by prime minister Mr. Narendra Modi will likely to impact positively to the manufacturing and capital goods segment. Higher capital expenditure initiatives from the central government are likely to be expected. In the budgetone ... Budget 2015: Big print promises, small print chips away Times of India - ‎Feb 28, 2015‎ The hike in surcharge will also impact Minimum Alternate Tax with the rate for large companies rising to 21.34% from the current 20.96%. Surcharge hike is also bad news for shareholders, as there is a rise in dividend distribution tax (DDT), which means ... Will Arun Jaitley deliver a historic Budget? Business Today - ‎Feb 25, 2015‎ Will Jaitley come up with a populist Budget? Will he pull back his reform agenda? Will he opt for not cutting down the subsidies? The indications are he might not. In a recent joint press conference with US Treasury Secretary Jacob Lew at the end of 5th ... Budget a let down: Key opposition gulfnews.com - ‎Feb 28, 2015‎ "Prime Minister Narendra Modi had earlier given assurances of bringing down inflation but on the other this budget will impact prices that will go up sharply — of medicines, home loans, mobiles, laptop, internet, cable TV, WiFi, hotel stay, air travel and much ... Exciting voyage Calcutta Telegraph - ‎Feb 26, 2015‎ Indulgent Bharatiya Janata Party workers - themselves equally impatient with the intricacies of economic decision-making - used to smirk over their leader's predictable responses to the budget during the time he was in opposition. Vajpayee's standard responses were that the budget was either "inflationary" or .... It is unlikely that the full impactof the shifts created by the new federal arrangement will be felt in this week's budget. It may be Jaitley's misfortune that his finance bill will be judged within old parameters at a ... Exciting voyage Calcutta Telegraph - ‎Feb 26, 2015‎ Indulgent Bharatiya Janata Party workers - themselves equally impatient with the intricacies of economic decision-making - used to smirk over their leader's predictable responses to the budget during the time he was in opposition. Vajpayee's standard responses were that the budget was either "inflationary" or .... It is unlikely that the full impactof the shifts created by the new federal arrangement will be felt in this week's budget. It may be Jaitley's misfortune that his finance bill will be judged within old parameters at a ... M&E industry reacts to service tax & costlier STBs exchange4media.com - ‎Mar 1, 2015‎ Last year when FM Arun Jaitley announced the first Modi-led government's Budget, M&E industry was hoping for the tides to turn. This year too, print players and broadcasters were looking forward to the Union Budget 2015. Some announcements made with ... Union Budget 2015-16 – Taxation highlights Real Time News, India - ‎Feb 28, 2015‎ Basic Custom duty on certain inputs, raw materials, inter mediates and components in 22 items, reduced to minimise the impact of duty inveRs ion. [] All goods, except populated printed circuit boards for use in manufacture of ITA bound items, exempted from ... Increase in VoA Facility to Boost Tourism Sector The New Indian Express - ‎Feb 28, 2015‎ ALUVA:In the Union Budget presented on Saturday, the government increased the number of countries for which the Visa on Arrival (VoA) facility is available from 43 to 150, in a move to rejuvenate the tourism industry. The facility will be available at nine ... Hike in service tax to help domestic mobile handset manufacturers Deccan Herald - ‎Feb 28, 2015‎ "The service tax impacts consumers and citizens as it will make things more expensive. However ... Finance Minister Arun Jaitley, in his Budget 2015 presentation on Saturday, mentioned that the Service Tax will be increased from 12 per cent to 14 per cent. Industry Welcome Jaitley Budget, term it as Growth Oriented The Indian Awaaz - ‎Feb 28, 2015‎ Chandrajit Banerjee, Director General, CII, said the Budget 2015-16 meets the present requirements of the Indian economy and outlines a comprehensive vision for citizens with strong focus on growth, investment, job creation and social security. PE funds finally get tax pass-through status; high five for GAAR deferment VC Circle - ‎Feb 28, 2015‎ The Finance Minister's Budget speech had all the right notes for the private equity (PE) industry with the government according the much awaited tax pass-through status for the funds. Foreign investors have been seeking clarity on tax pass-through status for ... India slashes corporate tax rate by 5% as Jaitley envisions imminent double-digit ... International Business Times UK - ‎Feb 28, 2015‎ India has slashed corporate tax rate by 5%, as the country looks to become more business friendly under Narendra Modi. While presenting the federal budget for fiscal year 2015-16, Finance Minister Arun Jaitley announced that the country's corporate tax rate ... Not make or break, but visionary mydigitalfc.com - ‎Feb 28, 2015‎ Definite : Time-bound decisions announced having significant impact on our economy. The long pending implementation of GST will finally see light of the day from April 1, 2016, which will give the much-needed stimulus to the economy. In this budget instead ... Setting the agenda for next 4 years Deccan Chronicle - ‎Feb 25, 2015‎ There was widespread expectation that it would be a big-bang Budget — like those of Manmohan Singh (July 1991), which changed the face of India, and P. Chidambaram's 1997 "dream Budget", which was hugely pro-business. However, Mr Jaitley's Budget did not have the drama of those budgets. Nor was it pathbreaking in ... Mr Modi is intensely political and has a keen sense of the political impact of economic decisions. He is, therefore, carefully calibrating reformist measures. So far, he has preferred to bring in ... AP's share in taxes dip by Rs. 2300 cr. The Hindu - ‎Feb 28, 2015‎ Notwithstanding the Union Budget has fallen short of the State's expectations, AP will receive Rs. 2,300 crore less than the projected devolution in the recently released 14{+t}{+h}Finance Commission report. The Finance Commission recommendations ... Investors may see returns in long term Moneycontrol.com - ‎Feb 28, 2015‎ Finance Minister Arun Jaitley in his first full fledged union budget avoided all sorts of populist measures and delivered a balanced budget. Investors may see the impact of this budget only in the long term. Cut in corporate taxation, commitment to fiscal targets ... Expectations Ride High on Jaitley's 2nd Budget The Indian Awaaz - ‎Feb 27, 2015‎ NEW DELHI: Expectations of tax breaks ride high on Finance Minister Arun Jaitley"s 2nd budget under the Modi led BJP led NDA government as the Railway Budget has raised hopes of people's comfort and the Economic Survey has predicted robust growth of 8.1 to 8.5 per cent in the coming year based on projections of reduced fiscal deficit, single digit ... Domestic research agency ICRA also expects upward revision in slabs for personal income tax to offset the impact of inflation and support consumption growth. India Budget 2015: much awaited test of Narendra Modi-led government's ... The American Bazaar - ‎Feb 28, 2015‎ Rajiv-Theodore NEW DELHI: Scores of 'babus' and their henchmen involved in the annual exercise of producing the Indian Budget, must have heaved a sigh of relief when Finance Minister Arun Jaitley finally read out the Budget for 2015-16, on Saturday. Economic Survey 2014-15: Key Highlights Myiris.com - ‎Feb 27, 2015‎ A day ahead of presenting Union Budget 2015-16, Finance Minister Arun Jaitley tabled the Economic Survey in Parliament on Friday which indicates a clear political mandate for reform and a benign external environment now is expected to propel India on to a double digit ... >In the short run, growth will receive a boost from the cumulative impact of reforms, lower oil prices, likely monetary policy easing facilitated by lower inflation and improved inflationary expectations, and forecasts of a normal monsoon in 2015-16. Budget 2015: How telecom will boom Telecom Lead (registration) (blog) - ‎Feb 28, 2015‎ The main negative points that will impact the telecom industry include additional service tax of about Rs 2,500 crore on telecom services impacting consumer and /or operators; excise duty on mobile handsets including cellular phone being increased from 6 ... GST to be implemented by 2016; estimated GDP to be between 8- 8.5% exchange4media.com - ‎Feb 28, 2015‎ Though there will be a bit of a disappointment that there was not much for the individual tax payer, FM Jaitley presented a focusedbudget with incentives for the poor and the industry. ... The net impact of tax proposals is expected to be Rs 15,068 crore. Reading the fine print Pune Mirror - ‎Feb 28, 2015‎ With a quaint retro-look, the Union Budget presented by Arun Jaitley, walked the Keynesian path of propping the economy on public enterprise, beefing up infrastructure, offering more for engineering and medical education, made welfare state promises and charmed the capital markets with a pull back on corporate taxes. Populism took .... MIRROR In manufacturing, there has been talks of simplifying procedures and dispensing with the initial requirement for permissions, how will that impact business? HALAN Market experts applaud Jaitley's Union Budget 2015-16, calls it a 'balanced ... ANINEWS - ‎Feb 28, 2015‎ ... government has started to implement the promises they had made during the general elections. FICCI's Former President Sidharth Birla called it a 'balanced budget'. He added that the budget talked about less governance which will have good impact in the ... India Inc cheers corporate tax reduce, wealth tax abolition Bharat Press - ‎Feb 28, 2015‎ New Delhi: India Inc on Saturday cheered the street map for decreasing corporate taxation, abolition of wealth tax and steps to verify black cash menace, whereas calling the Union Budget a "visionary" doc. "I assume it's a balanced price range. I really feel the ... Jaitley proposes corporate tax, customs duty cuts, service tax hike New Kerala - ‎Feb 28, 2015‎ Finance Minister Arun Jaitley Saturday proposed to cut the corporate tax rate by five percent to 25 percent over next four years while increasing the service plus education cess from 12.36 percent to a consolidated 14 percent. GDP in 2015-16 to be 8-8.5%; double-digit growth soon, says Jaitley Kaumudi Online - ‎Feb 27, 2015‎ Aiming for a double digit rate seems feasible very soon," he said while presenting the Budget for 2015-16 in the Lok Sabha. The Central Statistical Organisation (CSO) has recently revised the base year for ... The Economic Survey had yesterday said that growth will receive a boost from the cumulative impact of reforms, lower oil prices, likely monetary policy easing facilitated by lower inflation, and forecasts of a normal monsoon in 2015-16. The government headed by Prime Minister Narendra Modi, which assumed ... More could have been forked out for coal Hindu Business Line - ‎Feb 28, 2015‎ The expectation was, the Budget would offer incentives to encourage mechanisation in coal mining - especially in environmentally sustainable underground mining - as part of the big-bang agenda to increase fuel production by three times in five years. But the finance minister Arun Jaitley denied looking beyond ... Former CIL Chairman Partha S Bhattacharyya, however, pointed out that the hike in cess may impact the miner's ability for price rationalisation. Traditionally, CIL fetches wafer thin margins on low quality ... Budget 2015: Indian IT industry cheers with caution Infotech Lead (registration) (blog) - ‎Feb 28, 2015‎ However, we'll need to review the notifications before any predictions could be made on the impact on the sector. The economic survey has indicated that a clear political mandate for big bang reforms coupled with a benign external environment can propel ... The focus is clearly on employment creation mydigitalfc.com - ‎Feb 28, 2015‎ The budget retains the focus on financial inclusion, education, health and agriculture. It has increased focus on infrastructure development, housing and manufacturing in India. Overall, budget 2015 is wide in its scope and takes into account the interests of ... Most of the expected big ticket reforms have been put on hold mydigitalfc.com - ‎Feb 28, 2015‎ But beyond it, there was no more sher-shairi, as most Budget speeches in the past have been replete with or political taunting of any kind. This ensured that the entire 90 odd minutes speech of the finance minister could be delivered without the customary ... Budget 2015: What Vendors Want Computerworld India - ‎Feb 26, 2015‎ The impact of the inverted duty structure is such that it effectively makes direct import by end customers or trading of IT hardware and ITA goods far more advantageous in comparison to manufacturing of these products in India, thus making Indian ... Note on Budget NewsHub.org - ‎Mar 2, 2015‎ 10) Although Jaitley tried to present a human face by announcing a slew of low-cost pension and insurance schemes, including the Atal Pension Yojana and the Universal Social Security scheme, the impact of these schemes cannot be assessed for want of ...