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In a boost to firms like  ONGC   and Reliance Industries, the government plans to raise natural  gas price   by about 60% for their undeveloped gas discoveries in difficult areas. While domestically-produced gas is currently priced at an average of rates in gas-surplus countries like the US, Canada and Russia, for deep-sea discoveries yet to be developed, the government plans to price them at an average cost of alternative fuels -- naphtha and fuel oil as well as imported LNG. Show full article

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