Finance Minister Pranab Mukherjee was set to present the union budget to parliament on Friday morning, under pressure to trim the country's fiscal deficit amid cooling economic growth and a
Finance ministry proposes to set up firewalls between banks and insurance companies by ending crossing holding to prevent spread of turmoil from one sector to another.
The government also hints
Centre has hinted at putting in place measures to discourage unproductive imports like gold and consumer goods to restore trade balance as country’s trade deficit that has ballooned to $148.
The Reserve Bank of India left interest rates on hold and warned of resurgent inflation risks, putting the onus on the government to trim its fiscal deficit even as a
Finance minister Pranab Mukherjee today said the Economic Survey provides vital inputs for Budget preparation and can also be critical of government policies.
"It (Survey) charts economic development and challenges
Tax payers will be looking forward to some relief from Finance Minister Pranab Mukherjee who is expected to raise the income tax exemption limit to at least Rs 2 lakh
India's businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set
The steel ministry has recommended 10 per cent import duty on the alloy in the forthcoming Budget to protect the interest of the domestic industry, sources said.
"The Steel Ministry
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