Local consumption of gold and silver jewellery may decrease owing to the increase in excise and customs duty, a top industry official said.

Excise duty hike may hit consumption of gold, silver jewellery

Press Trust of India

The shares of cigarette and tobacco product makers today fell on the BSE, led by sector leader ITC that declined over 6 per cent, after Finance Minister Pranab Mukherjee announced hike in excise duty on cigarettes, cigars and cigarillos in his Budget Speech.

Cigarette stocks go down in flames; ITC plunges 6%

In a development that would hit telecom operators' profits, the government on Friday announced an up to 50 per cent increase in spectrum charges for all GSM and CDMA technology based service providers.

Govt hikes spectrum usage charges for GSM, CDMA operators

Allocations for all paramilitary forces except the NSG and ITBP have been decreased in the budget with cuts ranging from 6 to 16 per cent.

Allocations for all paramilitary forces cut, except NSG, ITBP

The budgetary allocation for the elite Special Protect Group, which guards the Prime Minister, former PMs and their immediate families, has been increased by 20 per cent.

SPG budgetary allocation up by about 20 per cent

Government proposed on Friday a hike of over Rs 400 crore in the Union Budget to set up the prototype Fast Breeder Reactor, while Rs 3,152 crore was proposed for the Department of Atomic Energy.

Rs 400 cr hike in fast breeder nuclear-reactor project

Even as shares of major realty firms rallied on the BSE boosted by Pranab Mukherjee's 'consumer friendly' Budget, city-based realty players expressed their disappointment by calling it 'negative' for the sector.

Realtors dub Budget 2010 as insufficient for the sector

The Ministry of Overseas Indian Affairs got a total allocation of Rs 81 crore for the year 2010-11 in the Union Budget.

Nominal hike in Budget allocation for OIA Ministry

Tax incentives given by the Budget for research and development made the Indian pharmaceutical firms sport a smile but they are left wondering if the hike in excise duty to 10 per cent on all non-petroleum products will be applicable to them.

Pharma industry welcomes tax incentives for R&D

As part of wall-fencing against any possible financial crisis in the country, the government on Friday proposed setting up a high-level panel for maintaining financial stability.

Govt to set up financial stability and development council

Welcoming the Rs 60,000 crore allocation for armed forces' capital expenditure in the Budget, defence analysts and industry captains expressed on Friday doubts whether the ministry would be able to fully spend the amount.

Analysts, industry captains welcome defence allocation

Terming the Union Budget as disappointing, Orissa Chief Minister Naveen Patnaik said it would fuel inflationary trends even as poor and backward regions of the state were denied special development packages announced for some provinces.

Union Budget disappointing: Naveen Patnaik

After staging a walkout from the Lok Sabha in protest against an &quot;inflationary&quot; Union Budget, BJP said its members oppose it when put to vote and would move cut motions.

BJP members to bring cut motions, vote against Budget

The government said the Budget proposals will push up prices marginally by 0.4 - 0.43 per cent in the immediate run.

Budget proposals to push up inflation marginally, says Govt

Hailing the Union Budget 2010-11 as &quot;inclusive&quot; and &quot;growth-oriented&quot; Delhi Chief Minister Sheila Dikshit said she was not unhappy over the steep cut in Central allocation to the city government.

Dikshit hails Union Budget as inclusive, growth-oriented

The aviation industry sought a rollback in the proposal to impose service tax on all classes of air travel in both domestic and international sectors, saying it would act as a &quot;dampener&quot; for the industry, which is yet to come out of the red.

Aviation ind seeks service tax rollback on local, overseas travel

The Reserve Bank of India said that the Budget 20010-11 presented by Finance Minister Pranab Mukherjee is in line with the path of fiscal consolidation and economic revival.

RBI says Budget in line with fiscal consolidation

Government proposed an investment of Rs 4,140.75 crores in the next fiscal for the Delhi Metro Rail Corporation, the second phase of which is nearing completion.

Govt proposes Rs 4000 cr investment for DMRC in Budget

Gold is likely to become costlier by atleast Rs 100 per 10 grams, while silver may become expensive by Rs 500 per kg as the Finance Minister has proposed to raise the customs duty on these precious metals.

Gold may become costlier by Rs 100 on higher import duty

Government's initiative to award scholarships to those opting for science studies got a Rs 240 crore allocation in the Union Budget presented by Finance Minister Pranab Mukherjee.

Science scholarships get Rs 240 crore boost in Budget

Leading bankers welcomed the Union Budget 2010-11, in particular the measures on farm loan repayment, capital infusion into PSBs and interest rate subventions to needy sections, saying that these would make the system healthier.

Bankers give thumbs up to FM; say measures to help industry

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