Despite tall claims, only 28.6% houses find occupants under PMAY-U in 4 yrs

While recently presenting the Union Budget- 2019 in Parliament, finance minister Nirmala Sitharaman waxed eloquent about the success of Prim...

Budget: Tax on imported books will not benefit us, say local publishers

Chennai: While the government’s de...

Union Budget: Publishers not delighted over duty hike on imported books

New Delhi: The government's decision...

Budget 2019: Unrealistic projections put promises in doubt

The first budget of the Modi 2.0 government was placed in the backdrop of an economic distress, the most glaring reflection which is the sharp rise in the open unemployment rate, which stood at a four-decade high of 6.1% in 2017-18 as compared to 2.7% in 2011-12. With the growth rate of rural wages and agricultural prices witnessing a sharp decl...

Budget lays down roadmap for India to get back on high growth track: Jaitley

New Delhi: Former finance minister Arun Jaitley on Saturday said the Budget 2019-20 lays down the roadmap for India to get back on the high growth track and is based on the premise that economies which follow prudent fiscal policies eventually get rewarded as against those which indulge in fiscal adventurism. In a Facebook post a day after the Budget prese...

Union Budget: Firmly neo-liberal, with a nod to social welfare

In earlier times, the Union Budget was seen primarily as a statement of estimated annual receipts and expenditures of the government of India. Over the years, the Budget presentation has become a media event, and the finance ministers in their speeches defer more than willingly to this reality, by spending a good part of their speeches on announcem...

Union Budget: 24% defence outlay set for buying modern weapons

In keeping with the trend of the last decade at least, the funds allotted for buying new weapons have continued to decline with the latest union budget allocating 24 percent of the budget for the purchase of modern weapons. Finance minister Nirmala Sitharaman, in her budget presented on Friday (July 5), allocated ₹4.31 lakh crore for 2019-20 of ...

US corporate sector welcomes Indian budget, says it will attract FDIs

The American corporate sector on Friday hailed the maiden Budget of Finance Minister Nirmala Sitharaman, noting that it is not only inclusive but also attractive for foreign investments. President of US India Strategic and Partnership Forum (USISPF) Mukesh Aghi said the budget is inclusive and policy decisions are encouraging for American compan...

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14 deported TN terror suspects wanted to wage war against India

The 14 men from Tamil Nadu who were arrested and deported from the United Arab Emirates, on charges of raising funds to wage war against India had reportedly sent lakhs of rupees to form a terror module in Tamil Nadu.

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Mumbai building collapse claims 12 lives

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Five missions called off by ISRO

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India asks Pakistan to allow 5,000 pilgrims a day in Kartarpur

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Petrol price to rise by ₹ 2.5, diesel by ₹ 2.3 after FM raises tax

New Delhi: Petrol price will be hiked by over ₹ 2.5 per litre and diesel by more than ₹ 2.3 after Finance Minister Nirmala Sitharaman Friday raised taxes on the fuels to part-fund her Budget for 2019-20. Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by ₹ 2 per litre each to raise over ₹ 28,000 crore. Post considering l...

Union Budget: Healthcare industry disappointed with lack of incentives

New Delhi: The healthcare industry on Friday (July 5) expressed disappointment over the Union Budget 2019-20 saying it hardly touched upon the sector and asked the government to consider increasing public spending on healthcare. "There has been no significant announcements pertaining to healthcare in Union Budget. While there was hope that the allocation f...

Around 15% hike in Tribal Affairs Ministry budget, focus on critical infra projects

The budgetary allocation for the Tribal Affairs Ministry for 2019-20 has been hiked by around 15 percent, with the central government focusing on critical infrastructure projects for the welfare of Scheduled Tribes. However, the budgetary allocation for tribal education saw a marginal increment -- from ₹1,953.03 crore in 2018-19 to ₹1,953.50 cro...

NRI bizmen in Gulf welcome India’s Budget, urge job creation

New Delhi: Several Non-Resident Indians and businessmen in the Gulf region on Friday welcomed India's Union Budget for 2019-20 and said that the government should focus more on job creation. The Budget was presented by Finance Minister Nirmala Sitharaman in Parliament on Friday. Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied ...

National Sports Education Board only new aspect of Sports Budget

Widening the scope of its flagship Khelo India program, the Government on Friday announced the setting up of a National Sports Education Board (NSEB) in the first Budget of its second term but did not change the interim allocations set aside for sports. The allocations from the interim Budget presented by the then Finance Minister Piyush Goyal i...

Over ₹235 crore budget for training of bureaucrats abroad and in India

Over ₹235 crore has been allocated to the Personnel Ministry in the Union Budget for domestic and foreign training of bureaucrats and augmenting necessary infrastructure during the ongoing fiscal. The Budget was presented by Finance Minister Nirmala Sitharaman on Friday. Of the total allocation of ₹235.91 crore for 2019-20, which is about 24 ...

Fuel cess, TDS on cash large cash payouts bids to destroy truckers: Industry body

A national truckers body has accused the Modi government of trying to destroy them given the Budget proposals to impose Re 1 cess on diesel and 2 per cent TDS on cash withdrawals of over Rs 1 crore. The All-India Motor Transport Congress also alleged that there is a move to make way for foreign players into the industry through such moves. "T...

Sitharaman delivers marathon Budget speech, Speaker compliments her

New Delhi: It was one of the longest budget speeches, peppered with Urdu, Hindi and Tamil couplets, when the country's first full-time woman Finance Minister Nirmala Sitharaman's addressed the Lok Sabha on Friday. During her 2 hours 17 minutes long maiden budget presentation, Sitharaman did not pause to have a sip of water. The budget proposals were wel...

Budget pitches TV channel for start-ups, experts say govt projects a better option

In a major boost to the start-up ecosystem, finance minister Nirmala Sitharaman who cleared the air on the contentious angel tax issue also announced a host of incentives to encourage entrepreneurship in the country. She said the government plans to start a new TV channel dedicated to start-ups. With the February budget before the elections fail...

BJP says Budget is for ‘New India’, Congress dismisses it

The BJP on Friday (July 5) hailed the Union Budget as one for a "new India" which laid the foundation for an inclusive and progressive nation, while the Congress panned it as "old wine in new bottle". In this year's Budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge...

Budget will empower poor and give youth a better tomorrow: PM

New Delhi: Describing the Union Budget as citizen-friendly, development-friendly and future-oriented, Prime Minister Narendra Modi on Friday said it will empower the poor and provide the youth with a better future. Terming the Budget as one that extends "hope" and boosts "self-confidence", he said the policies of the government will empower the downtrodden...

Budget: Marginal increase in allocation for CBI

New Delhi: The Central Bureau of Investigation (CBI), probing several sensitive, high-profile corruption and banking scam cases, got Rs 781.01 crore in Union Budget for 2019-20, a marginal increase of Rs 2.08 crore from last year. The agency has on its hands several extradition cases where legal battles are being fought in courts abroad, corruption cases s...

Union Budget: Start-up funding to be kept out of I-T scrutiny

While ‘angel tax’ has been a bone of contention for start-ups in the country for long, the Union Budget proposes certain relaxations for start-up owners and investors to take the sting out of the tax. While presenting the Budget in Parliament on Friday (July 4), Union finance minister Nirmala Sitharaman said start-ups and their investors who fil...

Budget: Inspired by Tamil text, FM wants more rice, but ignores elephant in the room

In her maiden Budget speech, finance minister quoted an Urdu couplet, Chanakya sutras and Vivekananda’s sage advice. But, her real message was hidden in a Tamil verse from the Sangam-era work Purnanuru. “Just a few mounds of rice cooked from a small piece of land is enough for the elephant. But if the same elephant enters a paddy field it will end...

Surcharge on super-rich raised to up to 7% over tax in Budget 2019

The Union budget has proposed raising taxes on the super-rich by increasing the surcharge on tax on those earning more than ₹2 crore. Presenting her maiden budget, Finance Minister Nirmala Sitharaman said the surcharge on income tax for those earning between ₹2 crore and ₹5 crore has been raised to 3 per cent and for those earning more than ₹5 c...

Public private partnership to be unleashed to develop rail infra: FM

Finance Minister Nirmala Sitharaman Friday said corporate India is a job creator as well as wealth creator and called for public-private partnership to develop rail infrastructure. Presenting the first Budget of the Modi 2.0 government Sitharaman said, 657 km of metro rail network has become operational across the country while railway infrastru...

Union Budget: Nirmala flirts with inflation to deliver growth

Chennai: The first Union Budget of Modi 2.0 on Friday (July 5) opted to embrace inflation in an attempt to deliver much needed growth to the stagnant Indian economy. Coming at the back of a historical verdict, the Bharatiya Janata Party-led National Democratic Alliance government stood firm in its bid to give stimulus to growth and catalyse employment, i...

Blueprint for national gas grid, water grid will be unveiled: FM

Finance Minister Nirmala Sitharaman on Friday said a blueprint for a national gas grid, water grid, information-ways and airports will be unveiled. Presenting the first Budget of the Modi government in its second term, Sitharaman also said a package for power sector and structural reforms will be unveiled soon. The finance minister said cargo...

Need structural reforms to reach $5 trillion economy: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman Friday said India needs to make structural reforms to achieve USD 5 trillion economy in the next few years. Presenting the first Budget of the Modi government in its second term, she said the Indian economy, which stood at USD 1.85 trillion five years back, has reached USD 2.7 trillion now, and is within capac...

Sitharaman discards briefcase, carries “bahi-khata”

In a departure from the past, India’s first full-time woman finance minister Nirmala Sitharaman carried the Union budget documents in a red bag, reminiscent of the traditional “bahi-khata.” Earlier, finance ministers in different governments used to carry a briefcase to present budget, which was considered as a tradition of colonial past. Sit...