Travel and hospitality sector in the country will be hit by the government's&nbsp; decision to increase service tax to 12% as it will result in spike in costs, according to tour operators.

Travel, hospitality to become more expensive

Press Trust of India

The country's over 900 million mobile phone users will have to shell out more money on their bills with the proposed hike in service tax rate to 12% from 10% in the Budget today.

Get ready to pay more higher mobile bills

It is good to see that Hon&rsquo;ble Minister has started paying attention to real estate sector as he proposes some steps towards improvement of affordable housing segment. Tough, at first impression they look beneficial for the segment but on overall basis these are just last minute window dressing.

Not much to cheer about for realty: Credai

Business Standard

The Rs 6.75-trillion mutual fund industry today lauded the STT cut in the Budget as they believe the move will provide a fillip to the struggling sector.

MFs welcome STT cut in Budget

Mobile handset makers today welcomed Budget 2012-13 retaining the excise duty of 1% on cellular phones.

Mobile handset makers welcome Budget

The education sector today got a hike of about 18% in the budgetary allocation for the next fiscal with a plan outlay of 61,427 crore in which 22% increase has been announced for the Sarva Siksha Abhiyan.

18% hike in budgetary allocation for education sector

The Health sector has got a total outlay of Rs 34,488 crore in the budget estimates for 2012-13, which is 13.24% more than the budget estimates of Rs 30,456 for the ongoing fiscal.

Health sector gets Rs 34,488-cr, up by 13.24%

Beleaguered air-carrier Kingfisher Airlines today welcomed the Budget proposal to allow aviation companies to raise capital through External Commercial Borrowings (ECBs) worth $1 billion during the next fiscal.

ECBs in aviation welcome: Mallya

The Union Budget for 2012-13 today reinforced the importance of Uniquie Identification programme, as the Finance Minister Pranab Mukherjee approved an outlay of around Rs 1,450 crore for Aadhaar.

Aadhaar gets govt backing, FY13 outlay at Rs 1,450 cr

In the wake of deceleration in exports growth rate, FIEO demanded continuation of 2% interest subsidy scheme beyond March 31, against the backdrop of demand slowdown in global markets like Europe and the US.

FinMin ignored demands despite global slowdown: exporters

The Minority Affairs Ministry today got an outlay of Rs 3,135 crore in the General Budget 2012-13, an increase of Rs 385 crore over the revised estimates for the current financial year.

Minority Affairs Ministry allocated Rs 3,135 cr

The government today proposed a 10% income tax on remuneration of directors of companies.

Govt plans 10% tax on income of company directors

The overall budget seems to be a balanced one. In view of the economic conditions of the country, it is important to encourage moves for a sustainable growth. Budget 2012 has been a bag of mixed propositions.

It's a mixed bag: Royal Sundaram

After falling short of the disinvestment mop-up targets this financial year as well as in the previous one, the government aims to mobilise 25 per cent less through selling stakes in state-owned companies in the next financial year.

Sell-off target feasible, say players

They have rationalised tax rates to some extent, and this will reduce the tax burden. The limitation of the subsidy pool shows a serious attempt to reduce fiscal deficit. With the GST likely to be introduced from August, it will finally replace various taxes and simplify the indirect tax structure.

My Budget: J J Valaya

There is nothing which is the best in this Budget. This Budget has lost an opportunity to be dynamic in terms of innovative reforms or even just simple individual tax exemptions. This is a status quo Budget with few risks and some tinkering around.

My Budget: Valmik Thapar

The market&rsquo;s expectations from this year&rsquo;s Budget were rather low. After the state election results, the market was hoping that the finance minister would maintain a status quo on populist spending, if nothing else. The other thing it was hoping for was a degree of realism as far as growth and slippage estimates were concerned. The FM seems to have delivered on both fronts.

Diesel price hike is the key

&ldquo;The year 2012 marks the beginning of the centenary year of Indian cinema. From Dada Saheb Phalke&rsquo;s Raja Harishchandra to Ra.One, the industry has played a pivotal role in unifying our country in the wake of her considerable diversity,&rdquo; said Finance Minister Pranab Mukherjee, in his Budget speech, on Friday.

Pranab is star of the entertainment sector show

The Finance Minister has left several demands of the industry in limbo. Yet again, the Budget has emphasised the need for e-governance and the role of Aadhaar in various government programmes, but it left unaddressed the industry&rsquo;s demand to remove the 18.5 per cent minimum alternative tax (MAT) imposed on Special Economic Zones (SEZs) and onsite software services.

Budget ignores IT's tax worries

In a bid to revive crisis-ridden airlines, the Budget proposed a Rs 4,000 crore equity infusion for Air India and permitted airline companies to raise capital through external commercial borrowings (ECBs) with a cap of $1 billion for the industry for a year. Analysts wondered, though, who would lend to the sector.

ECBs may not add tailwind to airlines

&ldquo;Bold, rational and courageous. Can&rsquo;t be applied across the board but certainly in segments like agriculture, infrastructure credit, education and skill development.

India Inc takes tax hikes in its stride

Budget 2026 News: Get latest news and headlines on India budget 2026. Explore more news on railway budget, healthcare budget, defense budget along with latest income tax slab rates on Business Standard.

Budget News: Latest Union Budget 2026-27 News, Budget Headlines Updates | Business Standard

Get latest news and headlines on India budget 2026. Explore more news on railway budget, healthcare budget, defense budget along with latest income tax slab rates on Business Standard.

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