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After sharp criticism of a Budget proposal to tax 60 per cent of the amount withdrawn from the Employees' Provident Fund, the Union finance ministry will consider suggestions for partially withdrawing it.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

Finance Minister Arun Jaitley's third Budget performed a delicate task of prioritisation: meeting additional spending burdens while staying on the previously announced path of fiscal consolidation. Jaitley kept infrastructure spending elevated while also addressing the slowdown in the rural economy; yet his estimates of increases in tax revenue were generally agreed to be reasonable, with the additional revenue coming from non-tax sources including disinvestment and spectrum auction receipts. This fiscal discipline will have increased pressure on the Reserve Bank of India to cut rates and spark an investment and growth recovery. ALSO READ:  Budget in 2 minutes                          Budget Nuts & Bolts THE KEY ISSUES CORPORATION TAX Option for New manufacturing firms to be taxed at 25%; one-time dispute resolution for retro tax PROVIDENT FUND Future deposits to be taxable in part when withdrawn Show ...

KEY HIGHLIGHTS -- GDP growth at 7.6% despite slowdown in global economy from 3.4% to 3.1%. CPI inflation down to 5.4% -- CAD from $18.4 billion in first half of last year to $14.4 billion this year -- To double income of farmers by 2022, sets aside Rs 35,984 crore for the purpose; to bring 28.5 lakh hectare under irrigation at a cost of Rs 17,000 crore -- Only 46% of 141 hectares of net cultivable area is irrigated, target to bring 28.5 lakh ha under irrgation, at Rs 17,000 cr next year Show full article Read more from our special coverage on "  Union Budget 2016 " Live Blog: FM Jaitley to present Union Budget 2016 Live: Union Budget to set the tone for markets Exclusive Photos on India Union Budget 2016

Finance Minister Arun Jaitley unveiled a Budget for the poor on Monday, announcing new rural aid and health programmes in a strategy shift that could boost his ruling Bharatiya Janata Party (BJP) in coming state elections. Presenting his third Budget, Jaitley described Asia's third-largest economy as a bright spot in a gloomy global landscape but said the government wanted to ensure that the benefits of growth are more widely shared among India's 1.3 billion people. Show full article Read more from our special coverage on "  Union Budget 2016 " Live Blog: FM Jaitley to present Union Budget 2016 Live: Union Budget to set the tone for markets Exclusive Photos on India Union Budget 2016

Finance Minister Arun Jaitley is set to present India's national budget for the next fiscal on Monday amid worries over the country's stagnating growth rate, government finances and direction of reforms. Will his proposals ease the fiscal burden of average citizens, notably individual tax payers, as also of the corporate sector is the question that comes to the forefront. Show full article Read more from our special coverage on " Budget 2016 " Budget 2016 News Live Blog: FM Jaitley to present Union Budget 2016 Live: Union Budget to set the tone for markets Exclusive Photos on India Union Budget 2016

Budget  2016 countdown has begun and all eyes are yet again on Finance Minister Arun Jaitley with many more expectations. One of the major announcements to lookout for will be a possible revision of the  tax  slabs whereby tax exemption limits will be raised from Rs 2.5 lakhs currently to Rs 3 lakhs. The Economic Survey 2016 released on Friday has already suggested that tax exemption thresholds should not be raised but more measures should be taken to widen the tax net and end subsidies for the well-off. Below is the list of 5 expectations from the common man.  Show full article Read more from our special coverage on " Budget 2016 " Budget 2016 News Live Blog: FM Jaitley to present Union Budget 2016 Live: Union Budget to set the tone for markets Exclusive Photos on India Union Budget 2016 Business Standard News

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 next financial year will be a tightrope walk for Finance Minister Arun Jaitley, with the mounted challenge of narrowing the fiscal deficit and enhancing tax revenue collections to compensate for higher salaries and pensions and capital spending. Besides raising tax revenue, Jaitley will have to deliver on the promise of a fair, transparent and non-adversarial tax regime in light of multinational companies such as Vodafone receiving fresh notices for payment of tax dues based on retrospective provisions. Though the government has been assuring investors that it will not invoke the retrospective tax clause, there has been no attempt to remove it from the statute. Read Full Article Over Here :  Business Standard News Read our full coverage on  Union Budget 2016

With issues like President’s Rule in Arunachal Pradesh, Pathankot terror terror attack and Jawaharlal Nehru University  row set to generate heat in Parliament, Prime Minister  Narendra Modi   has reached out to the Opposition by convening a meeting of leaders of major political parties on Tuesday. ALSO READ:  Budget 2016: Solar industry seeks tax sops, financial support The exercise is aimed at seeking cooperation for the smooth functioning of the  Budget  session, in the backdrop of virtual washout of proceedings in the last two sessions due to a host of issues. Read Full Article Over Here :  Business Standard News Read our full coverage on Union Budget 2016