Union budget highlights News

The budget is not likely to "fire" the market or the mood, Citigroup said in a research report, maintaining a positive view on India with an year-end Sensex target of 27,200.

Revenue Secretary Hasmukh Adhia on Tuesday said that Public Provident Fund (PPF) contributions will continue to be tax exempt.

FM Jaitley's Budget announcement certainly has some good news for people earning less than or equal to Rs 5 lakh.

American companies, either having a foothold or planning to set foot in India, are bullish on the latest budget presented by the Modi government, business advocacy group USIBC has said.

For every rupee in the government coffer, 21 paise will come from market borrowing in 2016-17, while 19 paise would be spent towards interest payment.

Praising the Indian Budget, NRI industrialist Lord Swraj Paul on Monday said that it had got its priorities right by focussing on the rural sector and those less well-off.

Currently, capital gains tax is levied on consolidation or merger of multiple plans within a mutual fund (MF) scheme.

The government on Monday allocated about Rs 7,296 crore for two central schemes -- Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and 'Smart Cities' Mission.

Here are the highlights of the Union Budget for 2016-17 (Apr-Mar), presented by Finance Minister Arun Jaitley in the Lok Sabha.

Finance Minister Arun Jaitley's proposed removal of dividend distribution tax has received a thumbs-up from the real estate sector which has been looking for a clarity to launch Real Estate Investment Trusts (REITs) for raising funds.

Aiming to boost demand in realty sector, the government on Monday proposed an additional Rs 50,000 deduction on interest on loans for first home buyers and tax incentives on development of affordable housing, besides exempting REITs from dividend distribution tax.

In a bid to popularise the ambitious Sovereign Gold Bond scheme, Finance Minister Arun Jaitley on Monday proposed exempting such bonds from capital gains tax on redemption.

The Centre will launch a new health protection scheme under which a cover up to Rs one lakh per family will be provided bedsides opening around 3,000 medical stores across the country to provide quality medicines at affordable prices.

The government on Monday said foreign entities would be allowed to own up to 15 percent stake in domestic stock exchanges, a move that would help boost their global competitiveness.

Rating agency Standard & Poor's while welcoming the Budget in general has said the proposals on the fiscal side shows only limited progress and has ruled out any changes in its rating outlook on the country in next 2 years.

Prime Minister Narendra Modi on Monday hailed his Finance Minister Arun Jaitley for the poor-friendly general budget that will also fulfil their dream of owning a house.

Prime Minister Narendra Modi on Monday said the Budget is pro-village, poor and farmers with focus on bringing about qualitative change in the country and alleviate poverty through a slew of time-bound programmes.