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'

Press Trust of India

Air conditioner makers are contemplating raising prices of products next month to pass on the burden of increased excise duty.

Budget: AC players feel the heat, price hike next month

The domestic steel industry's growth would be muted in the short term as concerns over economic slowdown are expected to prevail for a while, according a report by Care Research.

Steel industry growth to be muted in short term

Seeking to assuage concerns over inordinate delays in giving approval to mega projects, Finance Minister Pranab Mukherjee today said the government is making efforts to reduce the time lag in clearing the proposals.

Making efforts to cut time lag in clearing projects: FM

Consumer durables firms, which saw muted sales last summer due to bad weather, stubborn inflation and rise in cost of funds, are a disappointed lot as the Budget has not offered any subsidy for energy-efficient products.

Why energy-efficient products not subsidised, asks industry

Finance Minister Pranab Mukherjee today said the government will take &quot;corrective decision&quot; in consultation with all stakeholders to deal with the impact of rising crude oil prices on public finances and subsidy bill.

Will take corrective steps to deal with oil prices: FM

After the Reserve Bank of India's (RBI) monetary policy and Union Budget failed to enthuse stock markets last week, investors will now look for cues from international events and foreign inflows, experts said.

Investors look for global cues post-Budget, RBI policy

Retrospective amendment on taxing cross-border mergers and acquisitions (M&amp;As), as proposed by the Budget 2012-13, has startled taxation experts who said it is a signal to companies to desist from aggressive tax planning.

Proposed cross-border M&A rules to hit aggressive tax planning

Responding to a query in a post-Budget interaction with industry leaders, he said the DTC legislation would be in place in 2012-13, but &quot;effect would be from the next year onwards&quot;.

DTC likely to become effective from FY14: FM

Dismissing the criticism of government's decision to amend I-T Act with retrospective effect, the Finance Ministry today said the proposed change will not impact foreign investment flows.

Change in I-T Act won't impact FDI: FinMin

Rejecting criticism that the Budget was not bold or reformist, Finance Minister Pranab Mukherjee today asked the critics to be &quot;more realistic&quot; to political ground realities.

Critics should be more realistic, says FM

The government today said the proposed holding company for the PSU banks would help in recapitalising the lenders for meeting their growth needs and global prudential norms.

Holding co for PSU banks to meet growth needs: FinMin

The government is expecting lower interest rates in the coming months as it looks at policy reversal by the Reserve Bank of India (RBI) in the wake of moderation in inflation.

Interest rates expected to fall in coming months: Pranab

The corporate houses and traders in Uttar Pradesh have expressed disappointment with the Union Budget 2013, saying its proposals would neither boost consumer demand nor control inflation.

UP Inc & traders disappointed

Business Standard

When Reserve Bank of India Governor D Subbarao said last week that India&rsquo;s Inc pricing power had declined, he wasn&rsquo;t off the mark. The Budgetary proposal to raise excise duty by two per cent this year will see product prices shooting up, but not substantially.

Consumer firms to be cautious on pricing

In Budget 2012-13, the shipping ministry has got another year to figure out how it can raise Rs 5,000 crore through tax-free bonds.

Shipping ministry gets a year to use bond window

If you could not get a share of Rs 10,000-crore bond issue of the National Highways Authority of India (NHAI) this financial year, you will have to wait for the fourth quarter of 2012-13 for a second chance, as the highways authority plans to again hit the bond market around that time.

NHAI to again float Rs 10,000-cr bonds towards the end of 2012-13

The Budget proposals come at a time when 60 power projects under development face a loan default risk due to fuel shortages. Union power minister Sushilkumar Shinde speaks to Sanjay Jog on the state of the policy.

We've tried to address various power sector issues in this Budget: Sushilkumar Shinde

India's Budget lacks new solutions to address the country's fiscal constraints, global rating agency Moody's Investor Service said on Monday.

Budget fails to address fiscal constraint: Moody's

Reuters 

The CBEC clarified said there is no reason for goldsmiths and artisans to have any apprehensions as the government's proposed 1% excise duty on non-branded gold jewellery will have to be paid by manufacturers.

CBEC allays artisans' fears over excise on jewellery

The Union Budget 2012-13 just made life for companies like Tata Consultancy Services, HCL Group, Wipro, Aegis, Aditya Birla Minacs, Tech Mahindra and others, a bit more difficult.

TCS, Wipro, HCL to be under transfer pricing net

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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