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Moody's Investors Service today said the Budget for 2016-17 is "credit negative" for  PSU banks  as the capital infusion road map falls short of the required Rs 1.45 lakh crore. "The Budget is  credit negative  for public sector banks because the government has stuck to its capital infusion road map announced in 2015, budgeting Rs 25,000 crore in injection," says Srikanth Vadlamani, Moody's Vice-President and Senior Credit Officer. Show full article

After sharp criticism of a Budget proposal to tax 60 per cent of the amount withdrawn from the Employees' Provident Fund, the Union finance ministry will consider suggestions for partially withdrawing it. Show full article Read more from our special coverage on "EPFO, BUDGET 2016 " EPF tax: Its a healthy proposal

Banking shares mainly public sector undertakings (PSUs) have rallied by up to 13% on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) has allowed banks to beef up its capital adequacy by including certain items such as property value, foreign exchange for calculation of its Tier-I capital.  CLICK HERE TO READ FULL REPORT. ALSO READ: Markets Live

To shed the "anti farmer" and "pro-industrialist" image of the central government, the ruling BJP has decided to reach out to farmers through four rallies to be addressed by Prime Minister Naredra Modi. The " Kisan Mahasammelan " rallies -- in Madhya Pradesh, Odisha, Karnataka and Uttar Pradesh -- will be held before presentation of the General Budget in the upcoming session of parliament. Show full article Read more from our special coverage on " Budget 2016 " Budget 2016 News Exclusive Photos on India Union Budget 2016 Budget Ask The Expert Economic Survey: No great expectations Madhya Pradesh imposes entry tax on online retail trading  

The   Economic Survey   2015-16, presented in the  Lok Sabha  on Thursday by Finance Minister Arun Jaitley, said that there was uneven distribution of subsidies worth Rs 1 lakh crore subsidies going to the better-off and those who did not deserve them.   Show full article Read more from our special coverage on " Union Budget 2016 " Budget 2016 News Exclusive Photos on India Union Budget 2016 Budget Ask The Expert Economic Survey: No great expectations Trade: Avoid protectionism amid global turmoil

After getting relief from capital gains and minimum alternate taxes last year, developers now seek exemption from the dividend distribution tax (DDT) for real estate investment trusts (REITS) in the upcoming Budget to make them attractive for investors. Despite tax concessions last year, REITs have not taken off. Their argument is that after paying almost 20% DDT, rate of return on these units would not be lucrative compared to other investments. At the current times, post-DDT,  Read Full Article Over Here :  Business Standard News Read our full coverage on  Union Budget 2016

The department of  electronics  and information  technology  has sought a 271 per cent increase in the planned  Budget  outlay for 2016-17, at Rs 9,531 crore. For 2015-16, the planned outlay for the department was Rs 2,568 crore and the revised estimate stood at Rs 2,700 crore. Read Full Article Over Here :  Business Standard News Read our full coverage on  Union Budget 2016

Click here -  Photo Gallery - Business Standard.com Ahead of the Union Budget, the  sugar  industry in a series of meetings with  Finance Minister  Arun Jaitley   and  Reserve Bank of India Governor Raghuram Rajan  have demanded that long-term financial viability of the sector should be ensured and a scheme to restructure outstanding loans be announced. Read Full Article Over Here :  Business Standard News

Parliament   reflects the supreme will of the people, President  Pranab Mukherjee   said today in a strong criticism of disruption and obstruction and called upon all MPs to discharge their responsibilities in a spirit of cooperation and mutual accommodation. In his customary address to the joint sitting of both the Houses of Parliament outlining the government's agenda in the coming financial year, he also declared that the government will constantly strive for smooth and construction conduct of Parliamentary business Read Full Article Over Here :  Business Standard News Read our full coverage on   Union Budget 2016

Prime Minister  Narendra Modi   on Tuesday said he hoped the  budget   session of parliament will be fruitful as several opposition parties showed a positive attitude at all party meetings. "I wish that the parliament session will be fruitful and there is constructive criticism as well," Modi told the media outside parliament. Read Full Article Over Here :  Business Standard News Read our full coverage on Union Budget 2016

The finance ministry said today that tax collections stood at Rs 10.66 lakh crore in the first eleven months of the current financial year, which was 73.5% of the Budget target of Rs 14.49 lakh crore. However, direct taxcollections might slightly fall short of the budget target, but it would be offset by robust indirect tax collections, it said.  The revenue department expects additional about Rs 40,000 crore to come from indirect taxes, which will offset shortfall in direct tax mop up. Read Full Article Over Here :  Business Standard News Read our full coverage on Union Budget 2016

Only 16 of 29 states and seven union territories had digitised the leaky ration-card system of the world’s largest programme to distribute subsidised food, the targeted public distribution system (TDPS), by the end of April 2015, according to the latest-available government data. Nearly half of 55.45 million metric tonne foodgrain despatched for sale to more than 99 million families never reaches them, according to this 2015 paper (using 2011 data) by Ashok Gulati and Shweta Saini of the Indian Council for Research on International Economic Relations.  Read Articles

The real estate sector is likely to see improvement in sales and equity deals in 2016 as the economy shows signs of revival on the back of various policy decisions taken by the government, a report said. Budget 2016  - According to a survey jointly conducted by JLL and RICS, nearly 66.7 per cent of respondents foresee improvement in sales over the next 12 months. “Pure equity investments have seen a return and been on the increase and the momentum is expected to continue over the 12 months. This aligns with the recalibration of the investment community’s role as a long term partner with key and select developers,” it added. Union Budget 2016-17  - A majority of respondents, however, feel that equity investments will be restricted to Grade A names and will not be available for developers with limited institutional financing track record over the next 12 months.  Read Full Article Over Here :  Business Standard News  

Budget 2016  - India will be the world’s fastest growing large economy at 7.3 per cent in 2016, improving further to 7.5 per cent in the following year, a United Nations world economy report said on Friday. “India’s economy, which accounts for over 70 per cent of South Asia’s GDP, is projected to grow by 7.3 per cent in 2016 and 7.5 per cent in 2017, slightly up from an estimated 7.2 per cent in 2015.” Union Budget 2016-17  - India will be the fastest-growing large economy in the world, said World Economic Situation and Prospects 2016, which was released by the UN here. The report said South Asia is expected to be the world’s fastest-growing region in 2016 and 2017.  Read Full Article Over Here :  Business Standard News  

The government might change transfer pricing provisions in  Budget 2016-17  to ensure companies with overseas presence and consolidated revenue of more than Rs 5,000 crore comply with extensive data reporting and documentation. Legislative changes in the Income Tax Act would be in line with the Base Erosion and Profit Shifting (BEPS) measures unveiled by the Paris-based think-tank, the Organisation for Economic Co-operation and Development (OECD), in October last year to curb tax evasion by multinational companies.  Read Articles  

The Jammu and Kashmir government will present its annual  budget  on January 22nd in the Legislative Assembly, which will have a 52-day Winter Session beginning from January 18th next year. “Annual financial statement of expenditure for 2016-2017 and presentation of supplementary statement of expenditure for 2015-2016 will be on January 22nd in the state Assembly”, said Kavinder Gupta, Speaker, J&K Legislative Assembly. The Speaker issued a provisional calendar for sittings of the 3rd Session of the 12th Legislative Assembly. “The general discussion on budget will be held on January 25th, 27th and 28th, ending with reply thereto”, he added. As per the Provisional Calendar, starting from January 18th, with the Governor’s address to Legislature, the House sittings will continue till March 9th. It is the longest Budget Session of the state’s Legislative Assembly. According to the calendar, discussion on the motion of thanks on the Governor’s address and the reply thereto wi...