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Industrialists laud focus on agriculture, MSME sectors and its objective to maintain fiscal prudence Uttar Pradesh Inc has welcomed the   Union Budget Of India   for its purported focus on the agricultural and Micro, Small and Medium (MSME) sectors and its objective to maintain fiscal prudence. The general opinion among the industrialists and industry chambers was the Budget had primarily focused on the farm sector, rural population, youth, poor and underprivileged health care, infrastructure, financial sector for stronger institutions, speedy accountability, public services, prudent fiscal management and tax administration. Confederation of Indian Industry (CII) UP State Council chairman and Tasty Dairy Specialties Limited managing director Atul Mehra said the Budget had accorded highest priority to rural and agricultural sectors due to its large employment potential. "The Budget would certainly boost the Indian economy as all the key sectors have been considered ...

All e-tickets booked through the IRCTC website will get cheaper Call it a populist budget or a socialist one, Modi government has put in every effort to cast away gloom that had settled in post demonetisation move. Finance Minister Arun Jaitley on Wednesday presented a historic budget - since this was the first one in 92 years, which merged Railway   Budget 2017   to the Union one. A comprehensive budget from the Finance Minister was anticipated owing to the upcoming Assembly elections in Goa, Punjab, Uttar Pradesh, Manipur and Uttarakhand. commenting on the Budget, Prime Minister Narendra Modi said, "this Budget is yet again devoted to the well-being of the villages, farmers and the poor" While the common man has many reasons to be happy about, Jaitley certainly did wipe the smile off politicians' face across all parties. Here are some goodies handed out by the Finance Minister Arun Jaitley: Income Tax reduction : In a major step, Finance Minister Arun Jait...

Income tax rate cut to 5% for individuals having income between Rs 2.5 lakh-Rs 5 lakh Here are the highlights of Jaitley's   budget 2017   for the 2017/18 fiscal year that begins on April 1. FISCAL DEFICIT * The 2017/18 budget seeks to pursue prudent fiscal management to preserve financial stability. *Fiscal deficit at 3.4% *Revenue deficit stands reduced to 2.1% in Fy18 GROWTH * Jaitley says India seen as an engine of global growth DEMONETISATION * Demonetisation "a bold and decisive measure", will make GDP bigger and lead to higher tax revenues - finance minister * Hit to economy from government decision to outlaw high-denomination notes will be "transient", effects of demonetisation not expected to spill over to next year * Pace of remonetisation has picked up and will soon reach comfortable levels * Surplus money in the banking system will lower borrowing costs, increase credit flow INFLATION *Consumer price index inflation is...

There had been some confusion over presentation of the Budget following the death of MP E Ahamed Budget 2017 India   : Government and Parliament secretariat sources said the Budget speech by Finance Minister Arun Jaitley would be delivered according to schedule on Wednesday. Amid confusion over whether the Parliament would be adjourned following the death of sitting member of Parliament E Ahamed, sources said the Budget presentation would not be postponed. Ahamed, who was an Indian Union Muslim League Lok Sabha member and former Minister of State for External Affairs E Ahamed, passed away early morning on Wednesday.. He had suffered a cardiac arrest at the time of President Pranab Mukherjee's address to the joint sitting of Parliament on Tuesday afternoon. Government sources said there was needless confusion about the issue. Usually, the House proceedings are adjourned if a serving member passes away. But sources said there was no rule to this, and this was only a convent...

09:12 AM FM Arun Jaitley and ministry officials with #Budget2017 09:13 AM Final decision on budget to be taken by speaker, decision expected by 10 a.m. 09:28 AM BUDGET EXPECTATION: Post demonetisation, expectations of measures to boost demand are high – in the form of personal income tax cuts and higher social spending especially targeted at lower income population, says Gautam Chhaochharia, ED & Head of India Research, UBS Securities 09:29 AM Sensex opens marginally higher, Nifty still below 8,600 ahead of the Union Budget.   Also read:   Markets open in green as investors await Budget 2017 09:32 AM SECTORS TO WATCH: Agri-related spending increase would be positive for Fertilisers, Consumer Staples, Tractors and 2Ws. 4) A reduction in personal tax rates could benefit Consumer Discretionary and Autos. 5) Higher infra spending would be positive for Cement, Roads, Railways, Logistics and CVs. 09:34 AM Budget 2017   will be presented, obituary m...

Jewellers, however, say no black money in system post demonetisation; move will only dampen demand In a major blow to the already struggling jewellery sector in India, the government might cut the threshold limit for the requirement of the permanent account number (PAN) or Unique Identity Code (Adhaar Number) in urban, and Kisan Credit Card number in rural areas for jewellery or bullion purchases between Rs 50,000-100,000, post Union   Budget 2017 Date   . The Budget, which will be announced on Wednesday, is likely to further tighten the noose around black money after the demonetisation of Rs 500 and Rs 1000 notes, announced on November 8, 2016. "The government has already proved that it would go all out against black money. Since jewellery trade has been on the government's watch list, we may see a cut in the minimum threshold in know your customer (KYC) requirement to Rs 50,000-100,000," said an industry veteran on condition of anonymity. Rajesh Khosla, Managi...

Ahead of the budget session he urged all political parties will work together for people's benefit Prime Minister Narendra Modi on Tuesday ahead of the   Budget 2017   session hoped that the current session will be "fruitful" and all political parties will work together for people's benefit. "We had discussions with every political party individually and collectively. There should be productive and detailed discussion of the budget during the session," Modi said while addressing the media here. "I urge all parties to help in smooth functioning of the session. I hope for fruitful discussions. We aim at positive and meaningful debates for public interest. "I am hopeful all political parties will work together to move forward," he said. Modi also said: "This is the first time the budget is being presented on February 1." "Everyone would remember that earlier budget used to take place at 5 pm. This practice was chang...

Since the low 2,0148 hit on December 26, the Bankex has risen 12% to settle at 22,566 last week With the Union   Budget 2017   just a sniffing distance away, banking stocks are on a roll. The BSE Bankex, the barometer of banking stocks, has shot up 12% since its December lows in the anticipation of budgetary stimulus to keep demons of demonetisation at bay. Since the low 2,0148 hit on December 26, the Bankex has risen 12% to settle at 22,566 last week. This is against an 8% rise in Sensex during the same period. Bank stocks such as YES Bank (up 27%), Federal Bank (up 26%), Punjab National Bank (up 20%), IndusInd Bank (up 18%) and Bank of Baroda (up 14%) have seen a phenomenal rally in the period mentioned. Others such as Kotak Mahindra Bank, HDFC Bank, ICICI Bank, AXIS Bank and SBI too gained anywhere between 9% and 11%. Below are six concerns that market participants hope FM Arun Jaitley will address in Budget 2017:   Click Here

Govt can offset any negative impact by lowering corporate tax rates, mitigating note ban impact Investors in India are bracing for higher taxes and fewer incentives from the government’s annual   Budget 2017   on February 1, as the focus shifts to wringing out revenues to finance giveaways and higher public investment. While Prime Minister Narendra Modi’s administration is widely seen as being friendly to businesses and investors, it is not expected to announce any dramatic moves at a time when the economy is under pressure from a cash squeeze. Among expected measures are a hike in a transaction tax on stock derivatives trading and a less beneficial approach to long-term capital gains tax exemptions, according to analysts. India is also set to provide guidelines for new rules in April that will crack down on tax havens, while foreign portfolio investors are seeking clarity behind ‘indirect transfer’ rules that could increase tax liabilities for overseas funds. Bu...

FMCG firms have admitted that their sales were impacted due to "adverse liquidity conditions After taking a demonetisation hit, FMCG companies are pinning hopes on a growth oriented   Budget  2017   to see a revival in consumer confidence and create demand both in urban and rural markets. "We are expecting a growth-oriented Budget with various stimuli to revive consumer confidence... Proactive reforms to stimulate demand by increasing the money in the hands of the emerging middle class and rural India, this will help bring FMCG growth back on track," Godrej Consumer Products Ltd Managing Director Vivek Gambhir told PTI. Kolkata-based Emami too is expecting a growth oriented budget "to boost consumption, increase public investment, promote digitisation, broaden tax base and lead higher growth" and improvement of business sentiments. "It (Budget) should aim at clarifying policies particularly with respect to GAAR, POEM, GST etc. As wi...