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'Excise cut may not rev up auto sales; neutral for cap goods'

The government's decision to slash the excise duty on cars and SUVs may not lead to a spike in sales, while the impact of the same on the capital goods sector would be neutral, a research report says.

Funding body will promote scientific research in India:Nasscom

Welcoming government's proposal to form a research funding body, IT-BPM industry body Nasscom today said the move will promote scientific research and help India gain leadership position globally in areas like engineering and R&D.

Will look into curbs on gold imports: Chidambaram

Stressing that goal is to ensure safe financing of Current Account Deficit (CAD), the government today said it will look into relaxing restrictions on gold imports only after weighing all pros and cons.

Interim budget an 'election budget': Analysts

Analysts on Monday termed the interim budget as an "election budget", and cautioned the pre -polls "sweeteners", especially excise duty cuts, will make it difficult to achieve the deficit target.

41% hike in Labour Ministry budget

The Labour and Employment Ministry was today allocated Rs 2,398 crore in the 2014-15 Interim Budget, a hike of around 41 per cent over the last fiscal, with the government focusing on skill development.

Railways to get Rs 29,000 crore as budgetary support in 2014-15

The interim budget presented today announced an increase of budgetary allocation for railways from Rs 26,000 crore in 2013-14 to Rs 29,000 crore in 2014-15.

Air India to get equity infusion of Rs 5,500 crore

Air India will get an equity infusion of Rs 5,500 crore in 2014-15, as per the interim budget presented in Parliament on Monday.

16% hike in Home Ministry's budget

Home Ministry has received a 16 per cent jump in the 2014-15 Interim Budget over its allocation last year with the focus this time on, among others, schemes for safety of women in Delhi and creation of special infrastructure in Naxal-affected states.

Govt raises funding under state Plans to Rs 3.38 lakh crore

P Chidambaram has provided Rs 3,38,562 crore for 2014-15 under the states Plans, which is higher than revised estimates of Rs 1,19,039 crore for the current fiscal.

Aadhaar is a tool of empowerment for the poor: Chidambaram

Finance Minister P Chidambaram today said the unique identification number Aadhaar issued to residents is a tool of empowerment, especially for migrant workers, the homeless and the oppressed.

Govt to set up scientific research funding agency

To promote scientific research, Finance Minister P Chidambaram in his interim budget for 2014-15 today said a research funding body will be set up and contributions made towards the organisation will attract tax benefits.

CBI gets modest increase of 17% in budgetary allocation

CBI has received Rs 520.56 crore in the interim budgetary allocation for the next fiscal, which is a modest increase of approximately 17 percent over 2013-14.

Interim Budget 'very balanced': Industry

Terming the interim budget for 2014-15 fiscal as "very balanced", the industry on Monday said that it was 'absolutely' up to the expectations.

Budget 2014: India will become 3rd largest economy, says FM

Chidambaram said that there are some examples which show that the country has made progress, notwithstanding what people say.

India's power generation capacity doubles to 2.34 lakh MW

India's power generation capacity more than doubled to 2.34 lakh MW over the past decade, Finance Minister P Chidambaram said on Monday.

Infra focus area, CCI paved way for Rs 6.6 lakh crore projects: FM

Infrastructure remained a thrust area for the UPA government and its efforts paved the way for rolling out of projects worth Rs 6,60,000 crore, Finance Minister P Chidambaram on Monday said.

Govt cuts Plan spending by Rs 79K cr for current fiscal

The government on Monday cut Rs 79,790 crore from the budgeted Plan expenditure of Rs 5,55,532 crore for the current financial year against the backdrop of a burgeoning fiscal deficit.

Swift action taken to stop NSEL crisis spillover: Chidambaram

Finance Minister P Chidambaram on Monday said the government has taken "swift action" to ensure that the Rs 5,600 crore payment crisis at NSEL does not spill over to other regulated segments of the financial market.

Govt eyes higher Securities Transaction Tax for next fiscal

The government has also lowered its STT target to Rs 5,497 crore from Rs 6,720 crore for the current fiscal.

Union Budget 2014: Full Text

Here is the full text of the Interim Budget 2014 presented by Finance Minister P Chidambaram.