Posts Tagged ‘business’
Duty-free baggage allowance increased in the Budget
Presenting the Union Budget 2012-13 in the LokSabha today, the Union Finance Minister Shri Pranab Mukherjee has proposed to increase the duty-free baggage allowance for eligible passengers of Indian origin from Rs0 years from Rs5,000 The baggage allowance was last revised in 2004 The Finance Minister Shri Mukherjee said in his Budget Speech [...]
Concessions and exemptions extended to energy saving devices
Presenting the Budget in the LokSabha today, the Union Finance Minister Shri Pranab Mukherjee has proposed concessions and exemptions for encouraging the consumption of energy-saving devices, plant and equipment needed for solar thermal projects CVD of 6 per cent Shri Mukherjee proposed to increase basic customs duty on import of gold and other [...]
Duty on large cars enhanced from 22 percent to 24 percent
Large cars currently attract excise duty depending on their engine capacity and length2-13 in LokSabha today, the Finance Minister ShriPranab Mukherjee proposed to enhance the duty from 22 per cent to 24 per cent5,000 per vehicle, he proposed to increase the duty and switch over to an ad valorem rate of 27 per cent [subscribe2]
Manufacturing sector provided relief in customs duty
Customs Duties on Imported Plant and Machinery for Iron Ore Plants Reduced to 22-13 has announced to reduce basic customs duties on plant and machinery imported for setting-up of iron ore pellet plants or iron ore beneficiation plants from 7 hydroxide, the duties have been reduced to NIL from 2- per tonne to 30 percent ad [...]
Financial package of Rs. 3884 crore for waiver of Handloom Loans
Financial Package of Rs2-13 here today in LokSabha, Shri Pranab Mukherjee, Finance Minister announced a financial package of Rs 3884 crore for waiver of loans of handloom waiver and their co-operative societies The Finance Minister has also announced setting-up of two mega handloom clusters covering Prakasam and Guntur districts in Andhra [...]
Farmers have reasons to smile: Agriculture credit Iincreased to Rs. 5,75,000 crore
Agriculture credit increased to Rs2-13 to Rs,00,000crore over the target for the current year2-130,000 crore to NABARD for refinancing the Regional Rural Banks RRBs Shri Mukerjee said that a short term RRB credit Refinance Fund is being set up to enhance the capacity of Regional Rural Banks to disburse short term crop loans to the small and [...]
14% Hike in allocation for Road Transport & Highways
14% Hike in Allocation for Road Transport & Highways ECB to be Allowed for Capital Expenditure on O&M of Toll Roads 8,800 Km Target Set For NHDP The allocation for the Ministry of Road Transport & Highways has been enhanced to Rs2-13 which is a 14% hike from the previous allocation2-13 here today2-131-120-111-12, 24 [...]
Delhi-Mumbai Industrial Corridor receives US $ 4.5 Billion from Japan
While presenting the General Budget 2012-13 in LokSabha here today, the Union Finance Minister, Shri Pranab Mukherjee informed that the Japanese Prime Minister has announced US $ 48,500 crore for a period of five years for the project, the Minister added The DMIC is being developed on either side of the Western Dedicated Rail Freight [...]
Union Budget focuses on rationalisation measures in Indirect Taxes
Indirect Taxes Result in Net Revenue Gain of Rs2-13 in LokSabha today, the Union Finance Minister Shri Pranab Mukherjee has announced various rationalization measures like - Excise duty rationalized for packaged cement, whether manufactured by mini-cement plants or others per cent on branded precious metal jewellery to be extended to include [...]
ECB for working capital allowed in Civil Aviation
ECB for Working Capital Allowed in Civil Aviation Direct Import of ATF by Indian Carrierspermitted 49% Participation in Equity by Foreign Airlines Under Consideration Presenting the General Budget 2012-13 in LokSabhatoday, the Union Finance Minister, Shri Pranab Mukherjee proposed permission of External Commercial Borrowings billion [...]
Amendments to be moved to Banking Laws and Insurance Laws
The official amendments to “The Pension Fund Regulatory and Development Authority Bill 2011”, “The Banking Laws 1” and “The Insurance Laws Amendment Bill 2008” will be moved in the current session of the Parliament The Union Finance Minister ShriPranab Mukherjee said during the Budget Speech in the LokSabha today that these [...]
Measures proposed for skill development and augmenting funds for SMEs
Measures proposed for skill development and augmenting funds for SMEs, Turnover limit for compulsory Tax audit raised to Rs2-13 presented in LokSabha here today, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of [...]
Rs 15,888 crore provided for Capitalization of Public Sector Banks/RRBS and other Financial Institutions
Rs 15,888 crore provided for capitalization of public sector banks/RRBS and other Financial Institutions A provision of Rs 15,888 crore has been kept in the Union Budget 2012-13 for Capitalization of Public Sector Banks, Regional Rural Banks RRBs and other Financial Institutions including NABARD Making the announcement during his Budget [...]
The Ministry of Minority Affairs gets Rs. 385 crore more as central plan outlay
Major increase in Provisions for Scholarship Schemes Many New Schemes Provided for in the Budget Over Rs35 crore as Central Plan Outlay in the Union General Budget 2012-13 announced here today1-12 2-13 increases significantly the outlay for scholarship schemes being implemented by the Ministry for the students belonging to the [...]
Rajiv Gandhi equity savings scheme launched
A new scheme called Rajiv Gandhi Equity Savings scheme is proposed in the Union Budget 2012-13 to encourage flow of saving in financial instruments and improve the depths of domestic capital market0 lakhs The scheme will have lock-in period of three years The details will be announced in due course [subscribe2]
One page common return for Central Excise and Service Tax proposed
As a measure of harmonization between Central Excise and Service Tax, the Government has made a number of alignments2-13 in LokSabha today5 pages of the two returns at present [subscribe2]
Full exemption from basic customs duty given to certain Infrastructure Sectors
The Finance Minister Shri Pranab Mukherjee has announced full exemption from basic customs duty and a concessional CVD of 1 per cent to Steam coal for a period of two years till March 31, 20142-13 in LokSabha today Shri Mukherjee also proposed full exemption from basic duty to Natural Gas and Liquified Natural Gas and Uranium concentrate, Sintered [...]
Basic customs duty reduced in Agriculture & related sectors
Carrying forward the initiatives taken for agriculture and agro-processing sectors, the Government proposed to reduce basic customs duty from 72-13 in LokSabha today, 2015 [subscribe2]
Panchayats to be strengthened through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan
Rural Development and Panchayati Raj continues to be major thrust areas for the Government to ensure sustainable and more inclusive growth of the country2-13, the Union Finance Minister ShriPranab Mukherjee announced a major initiative to strengthen Panchayats across the country through RAJIV GANDHI PANCHAYAT SASHAKTIKARAN ABHIYAN 2th plan with [...]
Multisectoral plan to fight malnutrition in 200 high burden Districts
Government is fully prepared to meet the nutritional challenges being faced by the country2-13 in LokSabha today, the Union Finance Minister Shri Pranab Mukherjee announced Multisectoral Nutrition Augmentation Programme to combat malnutrition0,380 crores in 2011-12 to Rupees 11,937 crores in 2012-13 The Finance Minister proposed an allocation of [...]
