Budget focuses on consolidation, better implementation of schemes: Lavasa

The Union Budget 2017-18 may not be high-sounding but it focuses on better consolidation and implementation of government schemes, Finance Secretary Ashok Lavasa said on Tuesday.

"The spirit with which the Budget proposals for 2017-18 were prepared was to ensure better consolidation and smooth implementation of government's developmental and various social schemes though in s

Budget good if it were normal year, says former chief statistician

The Budget 2017-18 presented by Union Finance Minister Arun Jaitley is a good budget had it been a normal year, but unprecedented events like demonetisation and Donald Trump's becoming the US President should have been mentioned, former Chief Statistician of India Pronab Sen said.

"It is a very good Budget, had we been in a normal year. But, we had demonetisation, Trump's

Rs 10,000 cr in Budget to clear fertiliser subsidy dues: Ananth Kumar

 Union Minister of Chemicals and Fertilisers Ananth Kumar on Monday said that to reduce the burden of fertiliser subsidy backlogs, a special banking arrangement of Rs 10,000 crore has been approved in the Budget 2017-18.

"To reduce the burden of fertiliser subsidy backlogs, a special banking arrangement of Rs 10,000 crore has been approved in this Budget," the minister

Budget raises India`s capital market ambitions

By Anuradha Subramanyan and Krishna Merchant

SINGAPORE (IFR) - The Indian government has unveiled its most ambitious target for public share sales so far, looking to capitalise on the robust domestic capital markets to cut its annual deficit.

In last week's federal budget, Finance Minister Arun Jaitley set a 725 billion rupees ($10.76 billion) target for

Budget provides leeway to increase power demand, wanting in tackling stressed assets: Experts

The problem of subdued power demand ailing the thermal as well as renewable energy sectors was addressed by Union Finance Minister Arun Jaitley in his budget proposals for fiscal 2017-18 on February 1, but there is no "direct, head-on tackling of stressed power assets", experts say.


Jaitley said the country was well on its way to achieving 100 per cent village electr

Increased budget will help in socio-economic uplift of minorities: Mukhtar Abbas Naqvi

Union Minister of State for Minority Affairs Mukhtar Abbas Naqvi on Saturday said the increased allocation in the 2017-18 Budget for his ministry will help in the socio-economic and educational uplift of the minorities.

The Ministry of Minority Affairs has been allocated Rs 4,195.48 crore, around 10 per cent more, in the 2017-18 Budget announced by Finance Minister Arun Jaitley on Wed

Himachal Chief Minister to lay budget on March 10

Himachal Pradesh Chief Minister Virbhadra Singh will present the state budget on March 10, an official said on Saturday

The budget session of the Himachal Pradesh legislative assembly will begin on March with Governor Acharya Devvrat's address with 21 sittings, is scheduled to end on April 7, an official told IANS.

This will be Singh's 20th budget in his record six c

Infrastructure and passenger safety prime focus of railway budget: Official

Infrastructural development and passenger safety are the prime focus of the current railway budget presented for the first time as part of the general budget, a senior Railway official said here on Friday.

"This budget is concentrating on the improvement of infrastructure and most importantly safety. The basic focus of this railway budget is on the railway safety features like si

Budget maintains fiscal prudence sans spending cuts: Arun Jaitley

Constrained by the need for fiscal prudence, Budget 2017-18 continues on the path of fiscal consolidation without compromising on India's public expenditure, Finance Minister Arun Jaitley said on Friday.

"In view of the priority to increase government spending so as to help spur growth, an important constraint on our budget preparation was the need for fiscal prudence,"

Budget maintains fiscal prudence sans spending cuts: Arun Jaitley

Constrained by the need for fiscal prudence, Budget 2017-18 continues on the path of fiscal consolidation without compromising on India's public expenditure, Finance Minister Arun Jaitley said on Friday.

"In view of the priority to increase government spending so as to help spur growth, an important constraint on our budget preparation was the need for fiscal prudence,"

Excise duty hike on cigarettes a blow to Indian tobacco growers: Farmers association

The Federation of All India Farmer Associations (FAIFA) on Friday voiced concern at the excise duty hike on cigarettes in the Union Budget, which it termed a blow to Indian tobacco growers.

FAIFA, representing millions of farmers and farm workers of commercial crops across India, said it is extremely concerned that the Union Budget 2017-18 has once again increased the excise duty on c

Tyre, rubber industries saddened with Union Budget

Tyre manufacturers and MSMEs in rubber industry have expressed disappointment over the Union Budget not addressing their demand to remove inverted duty structure on tyre and rubber. While hailing the increased allocation for infrastructure and road sector in the Union Budget, the tyre industry expressed concerns over exclusion of rubber and tyres in the list of items on which duty inversion has

Budget not transformative, focuses on reducing demonetization pain: Ind-Ra

The broad theme of the FY18 budget remains on reducing the pain arising out of demonetization and continuity of focusing on infrastructure and housing, says India Ratings and Research (India Ratings). The fiscal deficit target at 3.2 per cent of GDP in FY18 is lower than expected and positive for money markets, this will ensure transmission of low rates and benefits to the banking sector, said

`Budget failed to address transparency of political parties`

The Association for Democratic Reforms (ADR) on Thursday said the union budget failed to address the issues of transparency, disclosure and penalties of political parties.

It also claimed the proposals on political funding reforms fell short of the recommendations by the Election Commission and the Law Commission. 

Commenting on the budget presented by Finance Minister

Space gets Rs 1,048 cr, atomic power Rs 498 cr more over previous year

India's space sector has got an additional Rs 1,048.43 crore in the Union budget for 2017-18 presented by Finance Minister Arun Jaitley in the Lok Sabha on Wednesday.

The Department of Space (DOS) got a net allocation of Rs 9,093.71 crore for the next fiscal, up from Rs 8,045.28 crore as per the revised budget estimate for 2016-17, the minister said on Wednesday.

Of the

25 bps repo rate cut more likely in April than February: Citigroup

The government's commitment to fiscal consolidation in the Budget will help the Reserve Bank adopt an accommodative monetary stance, but a rate cut is more likely in April than in policy review meet next week, says a report. According to global financial services major Citigroup, the RBI's timing remains uncertain, but the possibility of a 25 bps rate cut is high in the near-term.

Budget 2017: Enhanced allocation for metro projects

The Centre has set aside over Rs 17,810 crore for metro projects across the country in the Union Budget for 2017-18, which is a jump of nearly 14 per cent over last year's allocation.

Presenting the budget, Finance Minister Arun Jaitley said a new metro rail policy will have innovative methods of financing. However, unlike last year, the budget document did not provide break-up fo

Budget provides renewed impetus to manufacturing and Make in India

The Commerce and Industry Minister Nirmala Sitharaman has welcomed the Union Budget 2017-18 which provides renewed impetus to manufacturing and Make in India, export infrastructure and Government e-marketplace, as per the government release.

The Ministry of Commerce & Industry said in a statement that, several measures have been announced in the Budget 2017-18 to provide impetus t

ITC hits 52-week high on budge announcement

Shares of ITC, a multi-business conglomerate, jumped nearly 4 per cent, hitting 52-week high, on the Bombay Stock Exchange as investors increased bet on stock after FM announced lower than expected hike in excise duty on cigarettes in Budget.

Extending previous session rally, shares of cigarettes maker gained as much as 3.78 per cent to hit 52-week high in intra-day trade to Rs 279.90

Tax incentives to corporates to cost Rs 83,492 cr in FY17: Reports

The Indian Government's revenue foregone in the form of incentives to corporates in the current fiscal is estimated to grow nearly 8.63 per cent to over Rs 83,492 crore, said media reports. As per the Budget document 2017-18, the revenue foregone stood at Rs 76,857.70 crore in the 2015-16 fiscal.

As per the budget document, revenue foregone on account of deduction of export profit

Railways to remove all unmanned level crossings: Reports

The Indian Railways has said that it will eliminate all unmanned level crossings on broad gauge lines by 2020 and expert international assistance will be harnessed to improve safety preparedness and maintenance practices as per the Budget 2017-18.

As per reports, Railways will implement end-to-end integrated transport solutions for selected commodities through partnership with logisti

Odisha allocated Rs 5102 cr for development of Railways: Reports

Odisha has been allocated Rs 5,102 crore for development of Railways in the Union Budget for 2017-18 against the state's demand of Rs 5,870 crore, said media reports. Commenting on the issue, East Coast Railways (ECoR) general manager Umesh Singh said, “Stating that the allocation meets about 87 per cent of the state's demand. We have passed with distinction."

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Aviation Ministry receives substantial increase in budgetary allocation

The Civil Aviation Ministry has said that it has received a substantial increase of over 22 per cent in budgetary allocation at Rs 5,167.60 crore for the next financial year. In the Union Budget 2017-18, presented by the Finance Minister Arun Jaitley, out of the ministry's total allocation, a good chunk will be for Air India, which is to get Rs 1,800 crore.

The amount will be exte

Bengal industries hope budget to revive economy, create jobs

In view of reviving sagging economy, Bengal industries are betting big on the budgetary announcements as higher expenditure in infrastructure, focus in rural and small industries are expected to provide a growth impetus along with creating jobs.

"The budget proposals to increase spends in rural areas, infrastructure development, poverty alleviation as well as the agricultural sec

Budget pushed ahead to hide ill-effects of demonetisation: Anand Sharma

Calling the Union Budget 2017-18 "misleading and directionless", senior Congress leader and former Union Minister Anand Sharma on Wednesday said that the government deliberately pushed ahead the budget by a month to hide the ill-effects of demonetisation.

The Union Budget was always presented on the last day of February. This year it has been presented on February 1.