Budget

Union Budget 2010 – Highlights

Finance minister Pranab Mukherjee began presenting the Union budget for 2010-11 in the Lok Sabha today after the Cabinet approved the document. Here are some of the highlights of his budget speech.

The Indian economy was facing grave uncertainty. Growth had started decelerating when the interim [...]

Budget 2010: Pranab cuts surcharge for corporates, ups MAT

With India Inc. posting decent profits and advance tax collection (in December 2009) jumping 44%, the FM has given India Inc a little relief. While he has left the base rate of 30% the same for corporate taxes, he has cut the surcharge from 10% to 7.5%.
However, while he has given with one hand, he [...]

60% tax payers to benefit with new tax slabs: FM

Finance minister Pranab Mukherjee on Friday began the presentation of Union Budget 2010-2011 with a renewed sense of optimism over the country’s growth and clear signals from policymakers to bring deficits back to manageable levels.
Referring to tax slabs, the finance minister said tax on income up to Rs 1.6 lakh would be nil, above Rs [...]

Railway Budget 2010: No whistle, no big bang

No big bang was expected and none came. Mamata Banerjee’s 2010 Railway Budget had a lot of social welfare projects and reiteration of Railwaysthe ministry’s intent to implement a lot of projects that have been in the pipeline over the last few years. Mamata’s budget proposals stretched from small welfare measures such as starting creches [...]