-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...
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Economic Survey 2012-13 highlights
-IANS Highlights of the Economic Survey 2012-13 tabled in parliament by Finance Minister P. Chidambaram Wednesday. * GDP growth to remain between 6.1 percent to 6.7 percent in 2013-14 * WPI inflation to moderate in the range of 6.2 percent to 6.6 percent * Economy estimated to grow at 5 percent in 2012-13 after growing by 6.2 percent in previous year * Poor show of services sector contributed significantly to slowdown * Global as well as...
More »Budget 2013: Rs 80,194 crore to Ministry of Rural Development
-The Economic Times Finance Minister P Chidambaram has allocated Rs 80,194 crore to Ministry of Rural Development in Budget 2013. Giving the emphasis on education, Chidambaram said Budget 2013 will allocate Rs 65,867 crore to the HRD ministry. My budget's overarching goal is to create opportunities for our youth, he said. More than the fiscal deficit, Chidambaram said his greater worry is the current account deficit. In his Budget speech, he said the 'passion...
More »Sibal takes on judges, says let the court allocate spectrum, explain its orders -Maneesh Chhibber
-The Indian Express On a day when the UPA government’s renewed effort to attract bids from telecom companies for the ensuing auction of 1,800 Mhz and 900 Mhz spectrum drew a blank, Union Minister for Communications and Information Technology Kapil Sibal said that “if the court were to take upon itself the responsibility of allocating spectrum in the public interest, in whichever manner it deems fit, it may serve us better”. With...
More »FDI in retail will touch only 13.3% of population, Centre tells SC -Dhananjay Mahapatra
-The Times of India The Union government downplayed the opposition's concern over allowing foreign direct investment in multi-brand retail and informed the Supreme Court on Friday that the policy, when fully implemented, would touch the lives of only 13.3% of the country's population living in 53 cities. The government said its policy on FDI in multi-brand retail stipulated that retail sales outlets could be set up only in cities with a population...
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