The biggest textile cluster in India, Tirupur has reasons to be elated as their prayers have been answered. The government today proposed a one-time grant of Rs 200 crore for setting up effluent treatment plant in Tirupur. Finance Minister Pranab Mukherjee has allocated a one-time grant of Rs 200 crore to the government of Tamil [...]
Of the investments in Section 80C, ULIPs and ELSS (Tax Saving Mutual Funds with 3 years lock-in)could be considered by investors with a long term (above 7 years and 3 years respectively)investment purpose. EPF is unavoidable for the salaried employee, so it becomes an automatic investment. A look at the various tax saving tools available [...]
Finance Minister Pranab Mukherjee’s Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani’s dream of entering the banking sector. In his speech, Mukherjee announced that the RBI was considering to give banking licences to some private sector players and “Non Banking Financial Companies could also be considered, if they meet the RBI’s [...]
Budget 2010 may not go down too well with the oil and gas sector. Finance Minister Pranab Mukherjee says the government will continue with its current practice of paying out oil subsidy in cash. The won’t go well with the industry, which expected a clear subsidy-sharing mechanism of cash subsidy/oil bonds and clarity on tax [...]
Finance Minister Pranab Mukherjee on Friday came out with a Budget that could be described as a fine balancing act. While a lower fiscal deficit in the financial year ahead, resulting in a lower government borrowing, soothed the stock market’s nerves, an overhauled personal tax structure provides relief to individual taxpayers. Not surprisingly, stock markets gave [...]
The benchmark Sensex salutes Union Budget 2010 unveiled by Finance Minister Pranab Mukherjee and rallied over 400 points during the day. Experts say it was a effect of short covering and positive reaction to budget. Technical Analyst, Ashwani Gujral said it’s just a short covering, so those who are long should exit. However, he feels [...]
Expense: Cars Verdict: Costlier Will this one temper the mood of India’s sizzling-hot auto market? Looking at the cars queued up to launch here, it doesn’t look like. Why: Peak excise duty increased. Ad valorem component of excise duty on large cars, multi-utility vehicles is being increased by 2% points to 22%. Expense: Medical equipments [...]
Union Finance Minister Pranab Mukherjee began presenting the Union Budget 2010-11 in the Lok Sabha today at 11 am. Here are the key highlights of the Budget: Business sentiment weak at the time of last Budget Averted crisis, Indian economy far better situation Southwest monsoon undermined kharif crop Short-term global outlook bleak during FY10 Budget [...]
Kalpataru Properties, the flagship firm of the Kalpataru Group of companies and a real estate and construction firm is planning a Rs 1,000-crore initial public offering (IPO). It has been reported that the firm is in discussions with various investment bankers, including JP Morgan and Citibank, to be appointed as the lead managers (BRLM) to [...]
Days after the Reliance-Anil Dhirubhai Ambani Group (R-Adag) opposed Reliance Industries Ltd’s (RIL) trademark application for “Reliance Finance”, the latter has hit back by opposing R-Adag’s application to trademark the similar-sounding “Reliance Financial”. An R-Adag spokesperson said the group would fight RIL’s opposition. An RIL spokesperson declined to comment. The R-Adag spokesperson referred to a [...]
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