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

Business Standard

Finance Minister Pranab Mukherjee today said inflation will fluctuate for a couple of months and will stabilise after that.

Inflation will fluctuate for couple of months: Pranab

Press Trust of India

Gold and jewellery establishments in many parts of the country remained closed for the third day today as traders are protesting budgetary proposals to double basic customs duty on gold import and imposition of excise duty on unbranded jewellery.

Bullion traders protest gold duty hike, shut shops for 3rd day

The Power Ministry is likely to move its proposal to levy 19% duty on imported electricity equipment for large projects to the Cabinet.

PowerMin to seek 19% duty on imported power gear, again

A good Budget&rsquo;s rating typically depends on how uniformly it makes people unhappy. Finance Minister Pranab Mukherjee has achieved this feat. Just weeks before the FM presented the Budget, shares of Cairn, ONGC and Oil India Limited (OIL) were on the uptick as higher oil prices meant better realisations.

Crude cess to eat into profitability of oil companies

Crisil believes the impact of the Union Budget on corporate India is neutral. It contains various small measures in the right direction for the infrastructure sector. These include improved access to foreign funding in the form of external commercial borrowing, reduction in the withholding tax on foreign funding, and increase in the quantum of tax-free bonds that will reduce the cost of funds for infrastructure projects.

Impact of Budget neutral on India Inc: Roopa Kudva

Due to political compulsions, path-breaking reforms weren&rsquo;t expected. However, some industry captains had hoped for big-bang announcements. In that, it disappoints. Not many had believed the 4.5 per cent fiscal deficit targets last year, while the final number of 5.9 per cent is worse. There is more credibility to the 5.1 per cent number for FY13 and directionally the move to cap subsidies at two per cent of GDP is positive. One expects the government to raise fuel prices.

Not a thriller: Prateek Pant

From individual investors' perspective, the Budget may not be as lacklustre as it is on the macroeconomic front. The direct benefits include higher exemption limit in personal tax, exemption up to Rs 10,000 for interest on savings and 50 per cent exemption on investments of up to Rs 50,000 in equities. There could be a minor impact with the 20 per cent reduction in STT.

More unto the individual: Rajesh Saluja

The allocation for Metro projects has increased by over 12 per cent from Rs 5,166 crore to Rs 5,798.57 crore, in line with finance minister Pranab Mukherjee&rsquo;s push for infrastructure projects through the Budget.

Metros get a push with 12% higher allocation

A mere 3 per cent rise in food subsidy allocation in Budget 2012-13, taking the amount to Rs 75,000 crore, has fuelled talk of an impending delay in the nationwide roll-out of the Centre&rsquo;s ambitious Food Security Act in the coming financial year.

Rollout delay likely for Food Security Act

After raising the customs duty on gold, the government may consider imposing curbs on imports of some other commodities to keep the widening current account deficit (CAD) in check.

CAD pains: Import curbs likely

Despite the difficult political situation, finance minister Pranab Mukherjee today exuded confidence that &ldquo;many&rdquo; economic reform Bills would be passed by the first half of the coming financial year beginning April 1, depending on when the parliamentary committees examining these would give their reports.

Pranab upbeat on key legislation

State-owned aluminium firm Nalco plans to invest Rs 2,343 crore next fiscal, a 76% rise in capital expenditure over FY12, to increase capacity, according to 2012-13 Budget documents.

Nalco to invest Rs 2,300 cr on expansion in FY13 

The Finance Ministry today said it is working on the proposed Rajiv Gandhi Equity Savings Scheme, which is aimed at boosting retail investments in capital market, and the details are expected in a month's time.

Details of Rajiv Gandhi Equity Scheme in a month: Gujral

The broad contours of Budget 2012-13 were centred around increasing taxes, keeping subsidies under control and giving a thrust on kick-starting the investment cycle. The Budget has tried to touch upon everything and may end up being inflationary in nature (bad for interest rate cuts) while not achieving any significant growth prospects. The robust tax revenue growth of 19.5 per cent, which is supported by the 200 basis points increase in excise duty to 12 per cent and measures to increase tax collections from services, gives an impression of fiscal consolidation but is optimistic (looking at the weakening industrial production).

Five mid-cap stocks to watch

It&rsquo;s not Vodafone alone. Many companies in several sectors will bear the brunt of the Budget proposal to amend tax laws with retrospective effect. The information technology industry is learning it the hard way.

Software as 'royalty' set to hit technology companies hard

Luxury car maker Audi has raised prices of its entire range of products in India by up to 14% due to hike in excise and customs duties in the Budget.

Audi hikes prices by up to 14%

The government's decision to increase service tax to 12% will make hotel tariffs more expensive, and will have an impact on overall occupancy and business for hotel companies, leading hoteliers said today.

Service tax hike to make hotel rooms more expensive

Bullion and jewellery traders in various parts of the country went on strike for the sixth straight day today to protest the hike in import duty on gold and excise levy on unbranded jewellery.

Bullion traders on indefinite strike to protest duty hike

The Central Board of Excise and Customs (CBEC) has said it may meet indirect tax collection target for this fiscal, despite indications to the contrary due to faltering industrial activity and the resultant general gloomy corporate sentiment.

CBEC hopeful of meeting indirect tax target for FY12

The government today said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that the I-T Department will not act like a &quot;policeman&quot;.

No large scale re-opening of I-T cases, FM assures industry

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.

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