Zee News : Business Visit Zee News for the latest news on business, sensex, gadgets, technology, automobiles, economy, finance, mutual funds, derivatives, IPO etc. en-us ZeeNews Ltd Business News 7/11/2014 2:51:54 AM GMT Zee News US sues Amazon for kids' charges without parental consent Amazon.com was sued on Thursday by the US government for allowing children to use mobile apps to rack up millions of dollars in charges without getting permission from parents, who were stuck with the bills. mailto:inewsonline@gmail.com Friday, July 11, 2014, 01:12 GMT +5:30 Microsoft CEO signals changes, defers talk on job cuts Microsoft Corp Chief Executive Satya Nadella deferred any comment on widely expected job cuts at the software company on Thursday, after circulating a memo to employees promising to "flatten the organization and develop leaner business processes." mailto:inewsonline@gmail.com Friday, July 11, 2014, 00:59 GMT +5:30 Union Budget 2014-15: Bankers welcome Budget, say it ushers in growth environment Bankers on Thursday hailed Finance Minister Arun Jaitley's maiden budget, saying it would create an enabling environment for future growth. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 23:35 GMT +5:30 Union Budget 2014-15: Govt allows manufacturers to retail on e-commerce platforms Finance Secretary Arvind Mayaram said the move is not about allowing foreign retailers to sell items online, but to encourage domestic manufacturing. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 23:24 GMT +5:30 Union Budget 2014-15: Govt will not rely on retro tax amendment, says Jaitley "Will this government rely on retrospective tax legislation. My answer is no." mailto:inewsonline@gmail.com Thursday, July 10, 2014, 22:56 GMT +5:30 Union Budget 2014-15: Industry hails infra reforms announcements in Budget Earnest & Young's Tax Partner-Infrastructure Practice, Samir Kanabar said Budget 2014 has showered much awaited reforms in infrastructure sector. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 22:25 GMT +5:30 Union Budget 2014-15: Govt, RBI to devise modern monetary policy framework With prices staying at stubbornly high level, the government and the RBI on Thursday agreed to devise a modern monetary policy framework with clear inflation targeting. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 22:14 GMT +5:30 Union Budget 2014-15: Agri industry gives mixed reaction to Budget The Budget's proposals to boost irrigation, agri-research and food processing have been received well by the industry. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 22:05 GMT +5:30 Union Budget 2014-15: Industry captains hail Modi govt's first Budget Industry players said it sets the tone for attaining higher growth trajectory, job creation and attracting investments for an economy grappling with multiple challenges. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 21:54 GMT +5:30 Union Budget 2014-15: Proposals in infra, manufacturing to boost auto sector Given the condition of the economy, the direction given in the budget is a positive one and the call for fiscal prudence is a welcome move. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 21:35 GMT +5:30 Trade and industry welcome the Budget The budget focused on how the growth of the country will be, by covering needs of all the sectors, R R Balasundaram, President, Local Chapter of Indian Chamber of Commerce and Industry. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 20:27 GMT +5:30 Industry captains hail Modi govt's first Budget Industry players said it sets the tone for attaining higher growth trajectory, job creation and attracting investments for an economy grappling with multiple challenges. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 20:18 GMT +5:30 Determined to bring down consumer inflation: Raghuram Rajan Rajan added bringing down inflation was the responsibility of both the government and the central bank, echoing previous ones he has made on the topic. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 20:11 GMT +5:30 Union Budget 2014-15: Healthcare sector welcomes move for more AIIMS in India Arun Jaitley said two key initiatives -- free drug service and free diagnosis service -- would be taken up on priority as part of move towards 'Health for All'. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 20:02 GMT +5:30 Budget 2014-15: Dearer and Cheaper list Following is a list of what will be cheaper and costlier: mailto:inewsonline@gmail.com Thursday, July 10, 2014, 19:09 GMT +5:30 Union Budget 2014-15: Industry welcomes boost to renewable energy in Budget The industry experts said the focus on the solar energy sector will give a deserving boost to solar companies to increase generation capacity . mailto:inewsonline@gmail.com Thursday, July 10, 2014, 19:08 GMT +5:30 Union Budget 2014-15: Rupee logs worst drop in a month, down 44p at 60.19 vs dollar Thuesday's fall of 44 paise, or 0.74 percent, is the worst drop of since the 52 paise plunge on June 13, 2014. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 19:00 GMT +5:30 Budget 2014-15 boost for MSME sector Finance Minister Arun Jaitley Thursday announced measures for the development of micro, small and medium enterprises (MSMEs), while allocating a sum of Rs.10,000 crore for start-up companies in his maiden budget presented to parliament. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:44 GMT +5:30 Union Budget 2014-15: Income tax sops in budget, smokers will pay more In post-budget comments, the minister said there will be no fresh liability but also ruled out refunding taxes collected over the last 30 or 40 years. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:39 GMT +5:30 Budget 2014-15 is directional; aimed at medium term: CII President The maiden Budget presented by the new government contains a comprehensive package for economic revival and creation of jobs, said Ajay Shriram, President, CII. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:28 GMT +5:30 Branded petrol price cut by over Rs 5/litre Branded petrol, which contains special performance enhancing additives, attracted higher duties than normal petrol. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:26 GMT +5:30 Vodafone to continue international arbitration on tax case The minister said the sovereign right of the government to undertake retrospective legislation is unquestionable. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:19 GMT +5:30 NSE, BSE welcome Union Budget 2014-15 BSE MD & CEO Ashishkumar Chauhan said that government's announcement to bring down fiscal deficit to 3.6 per cent in 2015-16 and implementation of GST within a time frame was the biggest positive from the budget. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:13 GMT +5:30 Budget is 'sanjeevani' for moribund economy: PM He said the Budget is in line with making India skilled and digital, guided by the usage of the latest technology. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:09 GMT +5:30 Union Budget 2014: APAs to cover previous 4 yrs deals, to reduce TP disputes With regard to arm's length price for computing tax liability under the transfer pricing rules, he said a new "range concept" would be introduced in line with the international practices. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:03 GMT +5:30 Budget will give impetus to people’s participation: Narendra Modi Prime Minister Narendra Modi on Thursday termed the Budget as one that converts hopes and aspirations of the people into trust. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 18:01 GMT +5:30 Union Budget 2014: Raising of FDI cap in insurance may help pharma industry Finance Minister Arun Jaitley on Thursday proposed raising the FDI cap from 26 percent to 49 percent. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:59 GMT +5:30 Union Budget 2014: Special allocation for J&K, CWG and Asiad-bound in budget The Ministry of Youth Affairs and Sports was on Thursday given a substantial hike of Rs 562 crore, out of which Rs 200 crore have been marked out for development of infrastructure in Jammu and Kashmir, in the 2014-15 budget presented by Finance Minister Arun Jaitley in the Parliament here. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:58 GMT +5:30 Union Budget 2014: Govt to launch Kisan TV this year; sets aside Rs 100 cr The government will launch a dedicated agri-television channel 'Kisan TV' this year to provide real-time information to farmers and earmarked Rs 100 crore in Budget 2014-15 for this purpose. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:56 GMT +5:30 Union Budget 2014: Experts say personal tax sops to boost savings, consumption KPMG India personal taxation partner Vikas Vasal said, "Tax relief provided to individuals is welcome especially when the government faced tough macroeconomic situation." mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:54 GMT +5:30 Union Budget 2014: Govt plans to restructure FCI for improving PDS The government on Thursday said it will give priority to restructuring of state-run Food Corporation of India (FCI) for improving the public distribution system (PDS). mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:48 GMT +5:30 Union Budget 2014: 'Budget credit positive, but implementation is the key' All these measures will result in a revenue loss of Rs 22,300 crore to the government this fiscal, the Minister said, while indirect tax increases will fetch only under Rs 8,000 crore. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:48 GMT +5:30 Union Budget 2014: Budget provides for Rs.100 crore Agriculture Infrastructure Fund Finance Minister Arun Jaitley Thursday announced the setting up of an Agriculture Infrastructure Fund of Rs.100 crore to encourage research and development, saying it was necessary to make farming competitive and give an impetus to investment in agriculture. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:43 GMT +5:30 Union Budget 2014: Brokerage firms shares gain after Budget Shares of brokerage frims gained as much as 4.3 percent after the government on Thursday proposed a slew of measures in order to boost the capital market. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:41 GMT +5:30 Union Budget 2014: Rs 500 cr for creation of 5 tourist circuits With an aim of boosting tourism, government on Thursday announced allocation of Rs 500 crore for creation of five tourist circuits with specific themes in the country. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:37 GMT +5:30 Union Budget 2014: Modi budgets for growth, aims to curb deficit Prime Minister Narendra Modi`s new government on Thursday unveiled a first budget of structural reforms aimed at reviving growth, winning praise from investors despite a lack of clarity over how he would cap the big fiscal deficit. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:33 GMT +5:30 PPP is new mantra for infra in Jaitley's maiden budget Asserting that lack of infrastructure will not be allowed to hit growth, government on Thursday announced a slew of steps to fast-track projects mostly in public-private-partnerships, which finds renewed focus in Finance Minister Arun Jaitley's maiden Budget. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:32 GMT +5:30 Union Budget 2014: Govt aims at total sanitation by 2019 Giving high priority to sanitation, Finance Minister Arun Jaitley on Thursday said the government intends to cover every household by total sanitation by 2019 through the 'Swatchh Bharat Abhiyan' programme. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:28 GMT +5:30 Union Budget 2014: 'Budget will help capital investment in farming' Apart from that the target to form 5 lakh more joint liability groups of farmers will also be very helpful given the fact that the number of landless farmers is increasing. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:26 GMT +5:30 Union Budget 2014: 11% jump in Home Ministry's Budget The Home Ministry was given Rs 59,241 crore in the General Budget for 2013-14. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:21 GMT +5:30 Govt raises foreign investment limit in defence to 49% In order to boost manufacturing and reduce import dependence, the government on Thursday proposed to raise the foreign investment limit to 49 percent in the defence sector. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:13 GMT +5:30 Union Budget 2014: e-Visa to be introduced at nine airports in India Finance Minister Arun Jaitley on Thursday said necessary infrastructure would be put in place within the next six months for this purpose. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:13 GMT +5:30 Union Budget 2014: Govt to clear highways sector from maze of clearances: FM The government Thursday unveiled steps including Rs 38,000 crore investment for fast-tracking highways to augment the nation's arterial network. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:12 GMT +5:30 J-K benefits with Rs 500-cr package for Kashmiri migrants, IIT A Rs 500-crore package for rebuilding the lives of Kashmiri migrants was among the slew of measures announced in this year's Union budget for Jammu and Kashmir. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:11 GMT +5:30 Volatile Sensex closes 72 points down at two-week low after Budget Markets are disappointed on the fiscal consolidation front. The budget didn't speak anything about the rationalization of subsidies which was widely expected by most market players. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:09 GMT +5:30 Union Budget 2014: Govt move to issue eVisas at airports to boost tourism sector Finance Minister Arun Jaitley acknowledged the importance of tourism as a major job creator and announced the government's intention to facilitate visa on arrival facility. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:05 GMT +5:30 FDI in realty, tax sops for REITs to boost housing segment In a slew of measures to boost slowdown hit real estate sector, the government on Thursday relaxed FDI rules, gave incentive on home loans, offered tax sops on investment trusts and provided Rs 7,060 crore for the development of 100 smart cities. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:02 GMT +5:30 Jaitley allocates funds for war memorial, national police memorial The Narendra Modi government on Thursday announced the setting-up of a war memorial at Princess Park, New Delhi. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:01 GMT +5:30 Energy sector gains much needed focus in Budget 2014-15 Unveiling the Union Budget 2014-15, Finance Minister Arun Jaitley on Thursday announced several initiatives for the energy sector. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 17:00 GMT +5:30 Union Budget 2014-15: Govt focus on modernization of police forces The Modi government on Thursday announced to increase the allocation for modernisation of state police forces from the current Rs 1,847 crore to Rs 3,000 crore. mailto:inewsonline@gmail.com Thursday, July 10, 2014, 16:57 GMT +5:30