No service tax on metered taxis, amusement facilities, rail travel

As per the budget proposal, metered taxis, entry to amusement facilities, second-class rail travel, and betting, gambling and lottery will not attract the 12 per cent Service Tax. The negative list of services, on which the increased Service Tax of 12 per cent will not be levied, include admission t...

Indian Budget lacks game changing reforms: US industry

The US industry has said, India's Budget for 2012-13 lacks the much-needed game changing reforms and called for a transparent taxation policy to attract more foreign investment. The US India Business Council, USIBC in an unusual short reaction, called Union Finance Minister Pranab Mukherjee...

No reference in Budget for unorganized sector workers: CITU

FICCI says Budget not going to stimulate economic growth

The Federation of Indian Chamber of Commerce and Industry, FICCI, has said that the Budget is not going to stimulate economic growth. Speaking to media, FICCI President Mr. R V Kanoria said that the budget seeks to raise additional 40 thousands crores revenue through taxation, but there is no mentio...

Ensuring faster, inclusive growth a challenge: PM

Prime Minister, Dr. Manmohan Singh said that the biggest achievement of UPA Government in the last three years is protecting the growth rate of economy much better than other countries in the world, in the backdrop of global economic crisis.Speaking to Prasar Bharati he said even though the growth r...

Union Budget seeks fiscal consolidation measures: Finance Secy<br/>

Finance Secretary R S Gujral has said that the Union Budget presented in Parliament seeks fiscal consolidation measures and also on the need to control deficit. Addressing a post budget Press conference in New Delhi, he said, measures have been taken to increase revenue and control expenditure. He s...

Sensex slips 210 points as budget fails to enthuse markets<br/>

Erasing early gains, the Sensex at the Bombay Stock Exchange closed with a loss of 210 points, or 1.2 percent, at 17,466 on Friday after the Union budget failed to enthuse the markets. The Nifty at the National Stock Exchange fell 63 points, or 1.2 percent, to 5,318.

Sensex slips 210 points as budget fails to enthuse markets

Erasing early gains, the Sensex at the Bombay Stock Exchange closed with a loss of 210 points, or 1.2 percent, at 17,466 on Friday after the Union budget failed to enthuse the markets. The Nifty at the National Stock Exchange fell 63 points, or 1.2 percent, to 5,318.

Gold shoots up 450 rupees on proposal of import duty hike

Gold jumped 450 rupees, to 28,140 rupees per ten grams at Delhi&apos;s bullion market on Friday as stockists created fresh positions, following the budget proposal to hike import duty. Silver rose 300 rupees, to 56,500 rupees per kilo, as industrial units purchased more on fears of price rise in...

Crude surges amid anticipation of increase in demand<br/>