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Last updated: Wednesday, September 02, 2015 3:18:03 PM

Mumbai attacks trigger 34 percent hike in defence allocation
New Delhi, Feb 16 (IANS) Holding a 'threshold has been crossed' with the Mumbai terror attacks, the Indian government hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 External Affairs Minister Pranab Mukherjee presented in the Lok Sabha Monday.

Monday, February 16, 2009 4:27:50 PM

Interim budget fails cheer markets
Mumbai, Feb 16 (IANS) Indian equities closed in the red Monday as the interim budget presented by the government failed to offer any sops to investors. A key index ended 3.42 percent lower than its previous close.

Monday, February 16, 2009 4:17:41 PM

Service tax budgeted at Rs.689 bn for 2009-10
New Delhi, Feb 16 (IANS) The government hopes to earn around Rs.689 billion (Rs.68,900 crore) under the head service tax in 2009-10.

Monday, February 16, 2009 4:14:23 PM

New Companies Act to adopt global best practices norms
New Delhi, Feb 16 (IANS) The revision of the Companies Act of 1956 would enable adoption of internationally accepted best practices, said External Affairs Minister Pranab Mukherjee while presenting the interim budget on behalf of Prime Minister Manmohan Singh Monday.

Monday, February 16, 2009 4:12:47 PM

Government to overshoot expenditure estimate
New Delhi, Feb 16 (IANS) The government Monday revised the total expenditure estimate in the current fiscal to a little over Rs.9 trillion (Rs.900,953 crore), an increase of Rs.1.5 trillion (Rs.150,069 crore) on account of increased assistance to states, greater sectoral investments and a higher subsidy burden.

Monday, February 16, 2009 3:52:47 PM

Chidambaram hails interim budget, given the difficult times
New Delhi, Feb 16 (IANS) Home Minister P. Chidambaram Monday praised the interim budget tabled in parliament, saying Minister for External Affairs Pranab Mukherjee had done a commendable job given the difficult times facing the Indian economy.

Monday, February 16, 2009 3:47:18 PM

China concerned over trade protectionism: Official
Beijing, Feb 16 (Xinhua) China was 'deeply concerned' about trade protectionism, amid fears that such action would aggravate the economic downturn, an official said Monday.

Monday, February 16, 2009 3:46:55 PM

Plan allocation for agriculture up 300 percent in five years
New Delhi, Feb 16 (IANS) Claiming that the United Progressive Alliance government has given 'focussed attention' to farmers, Minister for External Affairs Pranab Mukherjee Monday said the plan outlay for the agriculture sector was hiked 300 percent between 2003-04 and 2008-09.

Monday, February 16, 2009 3:43:00 PM

Where the Rupee comes from, and goes
New Delhi, Feb 16 (IANS) The major part of the government's revenue comes from borrowings. Consequently, the biggest chunk of expenditure is on interest payments.

Monday, February 16, 2009 3:42:37 PM

Status quo on tax rates in India's high-deficit mini-budget
New Delhi, Feb 16 (IANS) In an exercise that has disappointed India Inc and the average citizen alike, External Affairs Minister Pranab Mukherjee Monday tabled a Rs.953,231-crore (Rs.9.53 trillion/$190.6 billion) interim budget for 2009-10 that keeps tax rates unaltered and steps up social sector spending, while giving a skip to fiscal prudence in times of 'extraordinary' circumstances.

Monday, February 16, 2009 3:35:49 PM

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