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 imprint of Modi's idea of development: Suresh Prabhu

Hailing the 2017-18 Union Budget, Union Railway Minister Suresh Prabhu on Wednesday said it was an imprint of Prime Minister Narendra Modi's idea of development and it will bring social equity.

"This budget is the imprint of the ideas of PM Modi," the Railway Minister said after the presentation of the Union Budget by Finance Minister Arun Jaitley in the Lok Sabha.<

'Infra status to affordable housing will help in foreign funds inflow'

Giving infrastructure status to the affordable housing sector, as announced by Finance Minister Arun Jaitley in the Budget 2017-18, will open the door to foreign funds at cheaper cost to developers and attract more investments in the sector, experts said on Wednesday.

Affordable housing developers will also be eligible for government's incentives, tax benefits and institutional fu

Experts hail infrastructure status to affordable housing

Hailing the government's decision to grant infrastructure status to affordable housing segment, experts believe it will provide ample push for the sector as developers will now be able to get access to preferential and lower borrowing rates from banks, reported PTI.

"We must appreciate the fact that the government is very serious on the mission of housing for all and in the s

ASSOCHAM hails announcement about setting up of AIIMS in

ASSOCHAM today complemented the Union Government for announcement regarding setting up of an All India Institute of Medical Sciences (AIIMS) in Jharkhand.

This likely to improve the healthcare scenario by creating a large pool of doctors and providing super-specialty health facilities at primary, secondary and tertiary levels at affordable rates in the state.

"Once esta

Highways allocation stepped up to Rs 64,000 cr: Finance Minister

Finance Minister Arun Jaitley today announced enhancing the outlay for National Highways by 11 per cent to Rs 64,000 crore for 2017-18. Presenting the Budget in Parliament today, Jaitley said, "In the road sector, I have stepped up the budget allocation for the National Highways from Rs 57,676 crore in the BE of 2016-17 to Rs 64,000 crore in 2017-18."

"For transport sec

Union Budget: Insurance agents 5% TDS removed

The Finance Minister Arun Jaitley during the Union Budget presentation in Parliament on Wednesday said that 5 per cent Tax Deducted at Source (TDS) on insurance agents will be removed.

The Minister also said that Life Insurance Corporation of India (LIC) will come up with 8 per cent of the guaranteed scheme for senior citizen of the country.

Arun Jaitley also said that it wi

Government to increase coverage under Fasal Bima Yojana

The government on Wednesday announced the increasing of coverage under Pradhan Mantri Fasal Bima Yojana to Rs 13,240 crore for the next financial year from Rs 5,500 crore now. The scheme will target to cover 40 per cent of the crop area in the next year and 50 per cent in the year after.

According to the current scheme, the government had allotted Rs 5,500 crore under crop insurance f

Budget 2017: Rs 55,000 cr allocated for railways in FY18

Indian Railways is likely to have its highest plan outlay of around Rs 1.35 lakh crore for the next financial year. The total railway capital expenditure for FY18 will be Rs 1.31 lakh crore.

The rail ministry's budgeted plan outlay has gone up drastically it the past two years. It went up to Rs 1,00,011 crore in 2015-16 from Rs 65,000 crore in 2014-15 and Rs 1.21 lakh crore is the

Budget: New rules regarding medical devices will be devised

The Finance Minister Arun Jaitley during the Union Budget presentation in Parliament on Wednesday said that the new rules regarding medical devices will be devised to reduce their cost.

The Minister also said that 1.5 lakh health sub centres likely to be converted to Health Wellness Centres. Jaitley also proposed that mission Antyodaya to bring 1 crore households out of poverty, &

Antodya Scheme: 1 cr households to be brought out of poverty

The Finance Minister Arun Jaitley during the Union Budget presentation in Parliament on Wednesday said that one crore households are expected to be brought out of poverty under Antodya Scheme.

Arun Jaitley also said that mission Antyodaya likely to bring one crore households out of poverty, and it also aimed to make 50,000 Gram Panchayats poverty-free. The Minister also added that, co

Budget 2017: Good news for steel and cement makers

The Finance Minister has announced that 10 million pucca homes to be built for the poor in FY18 which will boost the steel and cement demand.

Earlier in January, to ease EMI burden by ensuring cheap home loans in rural areas, the Centre approved 3 per cent interest subsidy on loans of upto Rs 2 lakh for all households which are not covered under Pradhan Mantri Aawas Yojana (Grameen).<

Defence budget raised by 10% to Rs 2,74,000 cr

Finance Minister Arun Jaitley has increased the defence budget to Rs 2,74,000 crore excluding pensions. Out of this amount, about Rs 86,000 crore is for capital acquisition. Devoid of the pension outlay, the total defence budget for 2016-17 was Rs 2,49,000 crore.

Jaitley also said that a central defence travel system has been developed through which soldiers can book travel tickets on

Budget 2017: LIC`s 8% guaranteed scheme for senior citizen

The Finance Minister Arun Jaitley during the Union Budget presentation in Parliament on Wednesday said that Life Insurance Corporation of India (LIC) will come up with 8 per cent of the guaranteed scheme for senior citizen of the country.

The Minister also said that it will soon launched a senior citizen Adhaar Card Smart card for the medical facility under a pilot program. During the

IRCTC, IRFC, IRCON to be listed in stock exchanges

Finance Minister announced that soon Railway related state-run companies like IRCON, IRFC and IRCTC will be listed on stock exchanges. Moreover, there will be no service tax on railway tickets books via IRCTC now.

Further, he said that at least 25 stations expected to be awarded during 2017-18; 500 stations to be made differently abled friendly by providing lifts & escalators.

Budget: Service charges withdrawn for ticket booking on IRCTC

The Finance Minister Arun Jaitley during the Union Budget presentation in the Parliament on Wednesday said that service charges for ticket booking on IRCTC will be withdrawn.

The Minister also said that the outlay for railways fixed at Rs 1,31,000 crore with Rs 55,000 crore Budget support. During the Budget presentation, the Minister also assured that all coaches of Indian Railways wi

Budget 2017: Government to focus on Swacchh Railways: Finance Minister

The Finance Minister, Arun Jaitley in his budget speech said that the Government’s focus was on Swacchh Railways. The FM fixed the outlay for railways fixed at Rs 1,31,000 crore with Rs 55,000 crore Budget support.

The FM also announced that rail safety fund with corpus of Rs 100,000 crore will be created over a period of five years. Also the FM promised steps to launch dedicate

`Infra status to affordable housing will help in foreign funds inflow`

Giving infrastructure status to the affordable housing sector, as announced by Finance Minister Arun Jaitley in the Budget 2017-18, will open the door to foreign funds at cheaper cost to developers and attract more investments in the sector, experts said on Wednesday.

Affordable housing developers will also be eligible for government's incentives, tax benefits and institutional fu

Indian factory activity returns to modest growth in January - PMI

BENGALURU - Indian factory activity returned to modest growth in January, bouncing from a contraction in December triggered by the government's scrapping of high value banknotes, a business survey showed on Wednesday.

Compiled by IHS Markit, the Nikkei Manufacturing Purchasing Managers' Index rose to 50.4 in January from 49.6. A reading above 50 indicates expa

Government allots Rs 2 lakh cr to develop highways in MP

The Indian Government has said that Rs two lakh crore have been allotted for the development of highways in Madhya Pradesh. As per reports, Gadkari announced conversion of 2021-kilometers long seven different roads in the state into national highways.

Commenting on the issue, Union Minister for Road Transport Nitin Gadkari told the media, "The Centre will provide Rs two lakh cror

Property prices fell due to cash crunch: Survey

The economic survey has said that property prices fell due to cash crunch following demonetisation and could decline further as investing undeclared income in real estate becomes more difficult.

"Demonetisation could have the particularly profound impact on the real estate sector," it said On short-term effect on the sector through December-end, the Economic Survey 2016-17 s

India ranks fourth in wind power installation: Survey

The Economic Survey has said that India has attained the fourth position globally in installed wind power capacity after China, US and Germany as a result of various steps in the "right" direction. With the legal framework in place for the International Solar Alliance (ISA), the brainchild of Prime Minister Narendra Modi and launched during the UN climate summit in Paris, ISA will be

India to attract $15-$20 billion FII inflows in 2018: ICRA

India is expected to attract moderate FII inflows of $15-$20 billion in 2018, with headwinds such as the muted outlook for corporate earnings and continued compression in debt spreads relative to advanced economies, rating agency ICRA said in a report on Tuesday.

"With the muted outlook for corporate earnings and emerging sectoral concerns regarding Indian software and pharmaceut

India's core industries output rises to 5.6% in December

 India's select industrial output rose to 5.6 per cent in December 2016 on the back of higher production of steel, refinery products and electricity, official data showed on Tuesday.

The gauge for select factory output -- Index of Eight Core Industries (ECI) -- had increased by 4.9 per cent in November and risen by 2.9 per cent during the corresponding month of 2015.

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India should reduce dependency on fossil fuels: Survey

Government should take steps to bring down the country's reliance on fossil fuels below the level of other countries and continue to be a good global citizen on climate change, the Economic Survey said today. India, which signed Paris agreement on climate change in December 2015, will now shift its focus to implementing the pacts, it said.

On India's fossil fuel use from long-