Two crucial constituents of the ruling UPA government &ndash; Trinamool Congress and DMK &ndash; today sought to build pressure on the government to roll back the hike in the price of petroleum products, saying it would hurt the common man already reeling under food inflation. NCP, headed by Agriculture Minister Sharad Pawar and which has nine MPs, is also said to be opposed to budget proposals on petroleum products.

Cong allies urge PM to roll back fuel price hike

Press Trust of India

Domestic airlines are expected to raise economy class fares by Rs 400-480 per ticket after the imposition of 10 per cent service tax on the base fare and restoration of 5 per cent excise duty on aviation turbine fuel (ATF). The impact of the latter, however, will be marginal.

Get ready to pay more for flying

Business Standard

Will the Union Budget for 2010-11 stoke inflation by making transport fuel expensive? Will the government be able to meet its target of raising Rs 40,000 crore from disinvestment? A day after he presented the Budget for the coming financial year, Finance Minister Pranab Mukherjee sat down to discuss a wide range of issues with Jyoti Mukul.

'I do not visualise any problem in disinvestment'

While ruling out a review of the Budget proposals, such as higher minimum alternate tax on corporations, the government today said that it will conduct another round of consultations before finalising the Direct Tax Code. At the same time, it warned that its legislation, and the proposed goods and services tax could take some time.

Pranab favours more debate on Direct Tax Code

Watching the coverage of the Indian Budget is akin to watching an intense game of cricket. There is a buzz in the air, the tension is palpable and everyone is guessing frantically at the final outcome. Like cricket, there is a pre-game prep session, where pundits and experts spar on their views of the likelihood of success and failure.

Budget circus plays out on the idiot box

Bharti Wal-Mart, an Indian joint venture of the world's largest retailer Wal-Mart, has said it is optimistic of India allowing Foreign Direct Investment in the retail sector, given the &quot;progressive&quot; nature of the current government.

Post-Budget, Bharti Wal-Mart hopeful of FDI in retail

Over a dozen non-banking finance companies, including those from industrial houses like Tatas, Birlas, Anil Ambani-led Reliance group and Bajaj Group, are lining up plans to seek banking licences once the Reserve Bank of India (RBI) comes up with relevant guidelines.

Over a dozen firms vying for banking licences

Major central public sector&nbsp;undertakings (PSUs)&nbsp;have earmarked a whopping capital expenditure of Rs 2.78 lakh crore in the next fiscal, with petroleum and power companies lining up Rs 1.20 lakh crore investment.

Major PSUs line up Rs 2.78 lakh cr capex next fiscal

From being termed as an attempt to please the middle class to inflationary in nature, the foreign media has hailed India's Union Budget for 2010-11 as a 'prudent Budget' and aimed at cutting the country's debts.

India's Budget prudent: foreign media

Special Economic Zones (SEZs) may become favourites of the IT firms for new investment as alternative for tax sops, with the government deciding to put curtains on the Software Technology Parks of India (STPI) scheme.

IT firms may move to SEZs with no STPI extension

The government has said the tax proposals introduced by Finance Minister Pranab Mukherjee in his Budget for 2010-11 will marginally fuel inflation but would not put any pressure on interest rates.

'Rise in inflation not to put pressure on interest rates'

The government today reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc.

Duties on life-saving drugs reduced

Making employment generation as the stepping stone towards women's empowerment, the government today increased the corpus of the women's Self Help Groups (SHG) to Rs 500 crore from the existing Rs 100 crore.

Corpus of women's Self Help Groups increased to Rs 500 cr

Days after raising petrol and diesel prices, the government today announced setting up of an expert group on pricing of petroleum products.

Govt sets up expert group on pricing of petroleum products

Despite getting no industry-specific incentives, the 224-million-tonne domestic cement industry has welcomed the Union Budget for 2009-10. The cement makers said that government's clear thrust on infrastructure will ultimately help the industry continue with its growth momentum.

Cement industry hope to benefit from infrastructure spending

Ashok Leyland tumbled over 8% to Rs 29.&nbsp; Apollo Tyres and MRF plunged 6.5% each to Rs 29 and Rs 3,370, respectively.

Auto stocks slip despite excise duty cut

The Delhi Metro Rail Corporation (DMRC), which is implementing a major expansion in and around the national capital, will get an assistance of Rs 1,769.60 crore from the Centre this fiscal, according to the Union Budget presented today by finance minister Pranabh Mukherjee.

Union Budget gives Central assistance to DMRC

The government has decided to allow commercial banks issue zero coupon bonds to raise long-term funds, according to the Finance Bill presented today.

Banks allowed to issue zero coupon bonds

Individual tax payers will save only Rs 1,000 more a year following the government raising the tax exemption threshold by Rs 10,000 to Rs 1,60,000, whereas the benefit for senior citizens (65 years and above) will be higher at Rs 1,500.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Finance Minister Pranab Mukherjee in his Budget speech for 2009-10 raised the tax-exempted income limit by Rs 10,000. Men would now have to pay taxes on income above Rs 1.6 lakh while women have to pay it on income over Rs 1.9

Budget tax sops to help individuals save Rs 1,000/ yr

Finance Minister Pranab Mukherjee presented the broad contours of the government&rsquo;s strategy for banks though it was limited to public sector players. But there were few concrete steps to strengthen the financial sector that he dubbed as the life blood of an economy.

FM has little to offer to financial sector

The government today expressed its commitment to introduce a uniform indirect tax structure across the country, Goods and Service Tax (GST), from the next fiscal after consultation with states.

Govt commits itself to GST next fiscal

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