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Retrospective tax not fully addressed in Budget: UK investors

The Indian Budget has received a positive response from the UK-based Indian business community but the issue of retrospective taxation was flagged as a concern by them.

City of London Corporation welcomes Indian Budget

The City of London Corporation has welcomed the maiden budget of the new Indian government, saying that it sends a positive message for international stakeholders for investment in India.

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.

Jewellery sector expresses disappointment with Union Budget

The gems and jewellery industry which had sought reduction in the gold import duty as well as abolition of the stringent "80:20 norms", expressed its disappointment with Union Budget.

Defence firms shares slide amid FDI hike

DI in defence sector raised to 49 percent, Jaitley said while presenting the Budget for 2014-15.

Sensex declines over 300 points as Budget speech begins

After rising to 25,613.72 points at the outset, the Sensex slipped into negative zone by falling sharply 327.81 points, or 1.28 per cent to 25,117.00 at 1145 hrs.

Rail Budget to focus on passenger amenities

Keeping passenger amenities and comfort as its top priorities, railways have proposed a new design coach with improved furnishings and house keeping scheme in coaches in the Rail Budget 2014-15.

Experts pitch for higher farm investment, major market reforms

In a pre-budget meeting with Finance Minister Arun Jaitley, the experts suggested timely implementation of the BJP's election manifesto promises to fix higher support prices. They also favoured a Kissan TV channel, an efficient procurement policy, priority for farm mechanisation and the linking of rivers.

India intends to be friendly to foreign investors: Rajan

India intends to be friendly to foreign investors and continue with the existing policy for them, Chief Economic Advisor Raghuram Rajan said on Wednesday.

Work on DTC in progress, Bill in Budget session: FM

Finance Minister P Chidambaram Thursday said work on the Direct Tax Code (DTC) Bill, which seeks to overhaul income tax laws, is in progress and the amended Bill will be introduced in the ongoing Budget session.

Union Budget: India Inc gives thumbs up

India Inc Thursday gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.

Chidambaram invokes poets, scholars in Budget speech

Unlike the Rail Budget two days ago, Chidambaram's speech in the Lok Sabha was heard with rapt attention and there were only a couple of minor disruptions.

Duty-free import limit of jewellery via passn baggage raised

To prevent harassment to passengers , the government Thursday proposed increasing the limit of duty-free import of jewellery via passenger baggage to Rs 50,000 for males and Rs 1,00,000 for females.

Budget 2013 impact: Clarity on tax issues related to R&D centres in IT soon

The government will soon issue a circular to provide clarity on taxation matters with regard to research and development activities in the IT sector.

Budget 2013-14: Big push to infra with Rs 50k cr tax-free bonds, two new ports

Infrastructure got a major thrust in Budget 2013-14 with Finance Minister P Chidambaram Thursday announcing a slew of measures to boost sector's growth, like raising Rs 50,000 crore through tax-free bonds, setting up of major ports and a road regulator.

Tourism gets Rs 88 cr more than last budget

Tourism sector got a fillip in the Union Budget with the allocation to the tourism ministry hiked by Rs 87.66 crore.

Budget 2013: Token increase for CVC, Lokpal

The government Thursday provided a nominal increase of Rs 26 lakh in the Budget estimates of about Rs 20 crore for Central Vigilance Commission (CVC) to meet its establishment-related expenditure and made a token provision for proposed anti-graft watchdog, Lokpal.

Aircraft maintenance facilities to get concessions

Aircraft maintenance facilities within the country will get concessions, including exemption from basic customs duty on parts and testing equipments for maintenance, repair and overhaul of aircrafts and parts.

Budget 2013: Super rich tax, other proposals to swell exchequer by Rs 18K cr

New tax proposals including 10 percent surcharge on super rich and higher duties on mobiles, cigarettes and SUVs will help government garner Rs 18,000 crore in 2013-14.

Rs 5,000 cr plan outlay for Air India in Budget

Duty concessions on import of spare parts and testing equipment for aircraft MRO industry were granted in the Union budget Thursday, as the government proposed to provide a plan outlay of Rs 5,000 crore in Air India in the next financial year.