The increase in crude oil cess will increase the burden of oil producing companies by over Rs 6,000 crore annually. Being the largest producer of crude oil and gas, the government-owned Oil and Natural Gas Corporation (ONGC) will take the biggest hit of around Rs 4,600 crore, followed by Cairn India (Rs 1,200-1,300 crore) and Oil India (around Rs 800 crore).

Oil producing firms to take a Rs 6,000-cr hit due to cess hike

Business Standard

Manufacturers of two and three-wheelers and commercial vehicles have wasted no time in passing on the excise duty increase to the market.

Auto companies waste no time in raising prices

The Budget may have made everything else expensive, but power consumers will not have much to complain. This is so because imported-coal power generation will become cheaper by about 8-10 paise a unit due to waiver of five per cent customs duty on coal. Since, fuel cost is a pass-through in most of the operating power projects, consumers can expect to reap benefits, provided global coal prices do not rise further.

Power tariffs may come down

Jewellers across the country have shut their shops till Monday, to protest against the increase in customs duty and introduction of excise duty for non-branded jewellery as proposed in the 2012-13 Union Budget. Due to the three-day &ldquo;bandh&rdquo;, the jewellery industry is expected to lose business worth Rs 5,000 crore.

Fuming jewellers shut shops for 3 days

The defence budget for 2012-13, presented in Parliament on Friday, confirms the Indian Army&rsquo;s degeneration into a low technology, manpower-intensive force that spends most of its money on day-to-day running. While the Navy and Air Force are built up into modern, space-age forces.

Army modernisation slow Navy & Air Force push ahead

As the prices of the Indian crude oil basket hover around $122-$125 a barrel, Finance Minister Pranab Mukherjee on Saturday said the UPA government would consult all political parties to build a consensus over petroleum reforms, once the Budget session concluded.

Will try for consensus on oil reforms after Budget session: FM

The most significant aspect of Budget 2012 is not what it did but what it did not do. Coming as it did right after the recent assembly election debacle, one almost expected the government to use the budget platform to dole out huge subsidies and other fiscal prolificacies in a bid to woo back the electorate.

Do you really gain from the Budget?

The next time Amitabh Bachchan hosts Kaun Bangea Crorepati or Sachin Tendulkar hits a ton in an Indian Premier League match, the taxmen may come knocking on their doors.

Reality show hosts, IPL players in tax net

The government, Finance Secretary R S Gujral said, has identified about a dozen companies including like NBCC, RINL, BHEL, HAL and HCL for share sale in the next financial year. &quot;The target is very much achievable. The Cabinet has already approved disinvestment proposal in some companies.

Will follow normal procedures like IPO, FPO: Govt

Press Trust of India

As the Budget has spared diesel vehicles from the much feared additional tax, auto firms such as M&amp;M, Hyundai and Maruti Suzuki are expected to press ahead with plans to expand engine capacities in this segment.

With no tax on diesel vehicles, auto makers mull expansion

The Union Budget has made a quantum jump in allocation for setting up eight new Income Tax overseas offices in countries like the US and the UK in its efforts to combat the problem of black money stashed abroad.

FM sanctions Rs 18 cr for I-T overseas units

The Union Budget is less green as compared to last year with Finance Minister Pranab Mukherjee increasing the allocation for the Environment and Forests ministry by a marginal Rs 130 crore this time.

Pranab's budget not so green this time

Finance Minister Pranab Mukherjee today said he was &quot;extra careful&quot; while formulating his Budget proposals in view of the political situation on the ground.

I was extra careful while formulating Budget: Pranab

Following the hike in excise and customs duties in the Budget for 2012-13, luxury vehicles in are set to become more expensive by up to Rs 3 lakh as auto makers have decided to pass on the additional burden.

Luxury cars get more expensive

Economists at rating agencies and fund houses have described the 5.1% fiscal deficit target for the next fiscal as an uphill task considering&nbsp; the absence of a clear fiscal roadmap and the still uncertain global environment.

'Fiscal deficit target of 5.1% difficult to meet'

The Reserve Bank of India (RBI) has said it is a tall order to manage government's enhanced borrowing next fiscal but it will do its best.

Meeting higher govt borrowing a challenge: RBI

The government aims to tap various assets to raise an estimated Rs 1.52 lakh crore (over $30 billion) in the next fiscal, nearly half of which could come from telecom spectrum sale and disinvestment in PSUs.

Govt aims to garner Rs 1.5 lakh cr via asset sale, dividends

The Budget has left the infotech sector more or less sour, as it has not met most of its expectations.

Budget disappoints infotech sector

The Budget is likely to create demand for senior professionals across sectors as economic activity in the country will get an impetus on the back of increased consumer spending, job search portal HeadHonchos has said.

Budget to create demand for senior professionals

The crisis-ridden microfinance sector has welcomed the budgetary proposal to table the new MFI Bill, saying the regulatory clarity will help in the resumption of bank funding.

Ailing MFIs hail move to bring in central law

Hike in excise duty and service tax rates will increase the input cost, fuel inflation and lead to further slowdown in economic growth, corporate leaders said at an interface with Finance Minister Pranab Mukherjee here.

'Hike in excise duty, service tax may not yield desired result'

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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