The Indian equities markets’ benchmark indices advanced over four percent this week as proposals in the federal budget to allow foreign investment in mutual funds and hike overseas investment in corporate bonds boosted investor sentiments. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the week at 18,622.70 points, up 785.54 points [...] Continue reading Sensex surges 785 points on budget proposals
Tag Archive: budget
More budget highlights for 2011-12: * Revenue gain of Rs.11,000 crore from increase in indirect taxes. * Service tax payers with turnover of Rs.60 lakh exempt from government audit. * Electronic filing of TDS returns at source stabilised; simplified forms to be introduced for small taxpayers. * Bill to be introduced to review Indian Stamp [...] Continue reading Budget highlights – 10
Finance Minister Pranab Mukherjee Monday said India’s defence budget for 2011-12 had been hiked to Rs.154,415 crore ($34 billion). This will mark an over four percent increase from the 2010-11 allocation of Rs.147,344 crore. Mukherjee also told the Lok Sabha while presenting the annual budget that the capital expenditure for defence in 2011-12 would be [...] Continue reading Defence budget hiked to Rs.1.54 lakh crore
More highlights of budget for 2011-12: * Expenditure in 2011-12 estimated at Rs.12,57,729 crore, an increase of 13.4 percent. * Tax receipts in 2010-11 at Rs.9,32,440 crore, an increase of 24.9 percent; non-tax receipts at Rs.1,25,435 crore * Tax exemption limit raised from 160,000 to 180,000; for senior citizens qualifying age reduced from 65 to [...] Continue reading Budget highlights – 8
Finance Minister Pranab Mukherjee reached Parliament House here Monday to present the federal budget for the ensuing fiscal and his sixth such exercise in a long political career. Expectations are high from both households and the corporate sector as this budget comes against the backdrop of high inflation, fluctuating industrial growth, erratic exports and the [...] Continue reading Mukherjee set to present his sixth federal budget