Arun Jaitley Finance Minister of India

Govt earmarks Rs 75 crore for electric vehicles in 2015-16

Finance Minister Arun Jaitley today earmarked Rs 75 crore for faster adoption and manufacturing of electric vehicles in 2015-16, a step which electric vehicles makers termed as a good beginning.

Feb 28, 2015, 14:11 PM IST

Govt to allow overseas investments in AIFs

Providing a fresh avenue for foreign investors, the government today announced allowing overseas investments in Alternative Investment Funds (AIFs) -- a new class of pooled-in investment vehicles for real estate, private equity and hedge funds, among others.

Feb 28, 2015, 14:08 PM IST

Coal auction to bring revenue windfall for states: Jaitley

Stating that auction of coal mines is one of the top three achievements of the government in its nine months' period, Finance Minister Arun Jaitley today said the process would bring several lakhs of crores of rupees to the kitty of coal-bearing states.

Feb 28, 2015, 14:03 PM IST

Govt to encourage corporatisation of public sector ports

In order to ensure social security and promote public health, the government Saturday proposed a slew of schemes like Pradhan Mantri Suraksha Bima Yojna, ATAL Pension Yojana and tax incentives for National Pension System.

Feb 28, 2015, 14:01 PM IST

Corp tax to be cut by 5 % in 4 yrs; no change for individuals

Finance Minister Arun Jaitley today announced a 5 percent reduction in corporate tax over next four years, abolished wealth tax and replaced it with an additional 2 percent surcharge on super-rich individuals, while increasing service tax that will result in higher cost of variety of services.

Feb 28, 2015, 13:59 PM IST

Wealth tax abolished; extra 2% surcharge on super rich

Asking rich and wealthy to pay higher tax, Finance Minister Arun Jaitley today abolished the wealth tax but increased the surcharge to 12 percent on individuals earning Rs 1 crore and above annually and on firms with an annual income of Rs 10 crore or more.

Feb 28, 2015, 13:56 PM IST

Budget high on 'Investment','Ease of Doing Business' literally

India may rank poorly on 'ease of doing business', but it emerged as a high-focus area in Finance Minister Arun Jaitley's first full-fledged Budget today, literally, with as many as ten mentions.

Feb 28, 2015, 13:50 PM IST

India to introduce gold deposit accounts, no mention of import duty

India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign bond as an alternative to buying the metal, moves that are likely to cut imports into the biggest gold consumer.

Feb 28, 2015, 13:48 PM IST

India to raise import tax on steel to counter China threat

India will raise the import duty on steel by 5 percentage points from April 1, Finance Minister Arun Jaitley said on Saturday, to stem a flow of cheap supplies from China and Russia.

Feb 28, 2015, 13:45 PM IST

Union Budget: 'No relief for middle class, low income groups, says Congress

The Congress on Saturday dubbed the Union Budget presented by Finance Minister Arun Jaitley in the Lok Sabha as `jugglery of words`, and said that there has been no relief for the middle class and the lower income groups.

Feb 28, 2015, 13:43 PM IST

Sensex trades flat after budget presentation

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), Saturday traded flat in the afternoon trade session after Finance Minister Arun Jaitley presented budget 2015-16 in the Lok Sabha.

Feb 28, 2015, 13:16 PM IST

AP becomes first state to execute NOFN on its own

Andhra Pradesh has become the first state to opt for executing the National Optical Fibre Network (NOFN) on its own and the telecom department will reimburse the cost for the same, Finance Minister Arun Jaitley said today.

Feb 28, 2015, 13:12 PM IST

FM proposes setting up of autonomous banks board bureau

In order to improve governance of public sector banks, Finance Minister Arun Jaitley today proposed setting up autonomous banks board bureau for helping lenders raise capital for meeting expansion needs.

Feb 28, 2015, 13:10 PM IST

Expert views: India budget goes for growth, delays cut in fiscal deficit

Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

Feb 28, 2015, 13:08 PM IST

Nirbhaya fund doubled: Jaitley

Finance Minister Arun Jaitley Saturday doubled the budget of the Nirbhaya fund to Rs. 2,000 crore from Rs. 1,000 crore.

Feb 28, 2015, 13:01 PM IST

India to cut corporate tax to 25% over four years

India will reduce tax on businesses to 25 percent over four years from a current 30 percent, with a view to boosting spending and job creation, Finance Minister Arun Jaitley said on Saturday, when presenting the government`s full-year budget.

Feb 28, 2015, 12:55 PM IST

Roof for each family by 2022: Jaitley

Every family in India will have a roof over its head by 2022, India`s 75th year of independence, Finance Minister Arun Jaitley said Saturday.

Feb 28, 2015, 12:53 PM IST

Six more AIIMS like institutes: Jaitley

Six more AIIMS like institutions will be set up in the country, Finance Minister Arun Jaitley said Saturday.

Feb 28, 2015, 12:52 PM IST

Northeast region to get film production centre: Jaitley

A centre for film production will be set up in the northeast region of the country, Finance Minister Arun Jaitley said Saturday.

Feb 28, 2015, 12:49 PM IST

Jaitley proposes law to promote ease of doing business

Aiming to improve the ease of doing business in the country, Finance Minister Arun Jaitley today proposed appointing an expert committee to prepare a draft legislation for obtaining regulatory clearances expeditiously.

Feb 28, 2015, 12:44 PM IST