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Union budget aimed at fiscal consolidation : Pranab

Union Finance Minister Pranab Mukherjee on Sunday said the 2012-13 Budget was placed with a view of fiscal consolidation, moderation of inflation and bringing back India to a higher trajectory of sustainable growth.

Pranab Mukherjee to reply on Union Budget

Union Finance Minister Pranab Mukherjee will on Monday reply to the debate on the Union Budget 2012 tabled in the Lok Sabha recently.

'Service tax hike to make hotel rooms more expensive'

The government's decision to increase service tax to 12 percent will make hotel tariffs more expensive, and will have an impact on overall occupancy and business for hotel companies, leading hoteliers said on Thursday.

Sensex cold shoulders majority of UPA Budgets

The 2012-13 Budget presented by Pranab Mukherjee too witnessed Sensex dip by 1.19 percent with the stock market terming it as “no body’s” Budget.

Budget proposals to contain inflation: Gokarn

The Reserve Bank today said that Finance Minister Pranab Mukherjee's Budget proposals will help in moderating inflation which is hovering at 6-7 percent.

Jewellers extend strike for 2 more days over gold duty hike

Jewellers across the country, including Delhi and Mumbai, extended their protest for another two days against the budgetary proposals hiking customs duty on gold import and levying of excise on unbranded jewellery.

Budget may weaken government's credit profile: Moody's

India's Budget for 2012-13 lacks new solutions to address the fiscal constraints the government is facing and may weaken its credit profile, global credit rating agency Moody's said Monday.

No backdoor VDIS, says Pranab Mukherjee

There is no "backdroor" Voluntary Disclosure of Income Scheme (VDIS) in the budget, Finance Minister Pranab Mukherjee made it clear on Sunday.

Budget 2012: Ailing MFIs hail move to bring in Central law

The crisis-ridden microfinance sector has welcomed the budgetary announcement to table the new MFI Bill, saying the regulatory clarity will help in the resumption of bank funding.

'Hike in excise duty service tax may not yield desired result'

Hike in excise duty and service tax rates will increase the input cost, fuel inflation and lead to further slowdown in economic growth, corporate leaders said at an interface with Finance Minister Pranab Mukherjee here.

Bond yields set to harden on higher govt borrowing plan

Some other analysts also said that higher supply of government bonds would see hardening of yields in the first quarter of the next fiscal.

Budget 2012: Iron ore industry disappointed

The harried iron ore industry on Saturday said the steps announced in the Budget such as reduction of customs duty on imported plants and machinery for setting up pellet plants are insignificant.

Budget 2012: Travel and tourism sector ignored says TAAI

Even as Budget 2012-12 has addressed the immediate concerns of the aviation sector through external commercial borrowing (ECB), it has ignored the travel and tourism industry as a whole, Travel Agents' Association of India said on Saturday.

Budget 2012: Retailers, consumer goods industry say price hike imminent

Retail and consumer products are likely to be dearer due to the hike in indirect taxes, industry players said on Saturday.

Budget 2012: Cement prices may surge on hike in excise and rail freight

The synergy of increase in Excise duty on delivered cement and a hike in the rail freight rates may result in the commodity getting expensive and also impact the domestic housing and construction sector.

Budget 2012: A boost for aviation and MRO sector, say experts

The Budget is a positive for the civil aviation industry, particularly for the maintenance, repair and overhaul (MRO) sector, say experts.

Budget 2012: Gokarn says hiking indirect taxes a smart move

Finance Minister Pranab Mukherjee's Budget proposal to raise excess revenue from indirect taxes rather than touching the direct taxes is a smart move, as it does not require a Parliamentary approval, Reserve Bank has said.

Budget 2012: MFs seek clarity on new equity scheme announced

The struggling asset management industry has sought a clarity on the proposed Rajiv Gandhi Equity Saving Scheme (RGESS), announced in the Union Budget, saying it is unclear whether the MF industry can participate in it or not.

Committed to the reforms process: Pranab

A day after presenting the Union budget for next fiscal, which mostly got negative reviews from analysts and commoners, Finance Minister Pranab Mukherjee said the government was committed to passage of key reforms.

Corporate America seeks reforms, says Budget not game-changing

Calling the Indian budget "measured but without game-changing reforms", a US-India trade group has expressed the hope that the government would deliver on foreign investor friendly key reforms during the budget session.