New Delhi/Mumbai, Feb 28 – Assurance to roll out the much-awaited Goods and Services Tax (GST), higher export duty on iron ore, foreign investment in equity mutual funds — the budget proposals were welcomed by India Inc Monday though some said the service tax on hospitals and hotels would add to the costs. Some of the reactions to the general budget presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday were: Sanjay Chandra, managing director Unitech Ltd: We welcome the measures announced in the budget to promote the development of affordable housing.
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Shimla, Feb 28 – Himachal Pradesh Chief Minister Prem Kumar Dhumal Monday described the union budget as ‘disappointing’ and ‘prejudiced’ against the hill state as far as promotion of industry is concerned. ‘The central government has discriminated with the state by making no mention in the union budget about the extension of a special industrial package,’ Dhumal told reporters here.
February 28, 2011 | Filed under Business | Read More
New Delhi, Feb 28 – The allocation for the development of the northeast region has been doubled to Rs.8,000 crore (Rs.80 billion/$1.7 billion), Finance Minister Pranab Mukherjee announced Monday while presenting the budget for fiscal for 2011-12. ‘In order to boost development in the northeastern region and special category states, the allocation for special assistance has been almost doubled to Rs.8,000 crore for 2011-12.
February 28, 2011 | Filed under Business | Read More
New Delhi, Feb 28 – Calling education as the tool of empowerment to reap the benefit of India’s demographic dividend of a young population, Finance Minister Pranab Mukherjee Monday announced a hike of 24 percent in the budget allocation for education. ‘For education, I propose an allocation of Rs.52,057 crore, with an increase of 24 percent over the current year,’ Mukherjee said while presenting the budget for 2011-12.
February 28, 2011 | Filed under Business | Read More
Kolkata, Feb 28 – Finance minister Pranab Mukherjee’s proposal to enhance export duty for all types of iron ore got the thumbs up from the industry, but export duty exemption for iron pellets was greeted with concern. Mukherjee Monday announced the enhanced rate of export duty for all types of iron ore at a unified 20 percent in his federal budget speech in parliament.
February 28, 2011 | Filed under Business | Read More
New Delhi, Feb 28 : The Supreme Court on Monday issued notices to Union Carbide Corporation, Dow Chemicals and others on a plea filed by the Centre seeking enhancement of compensation to the victims of the 1984 Bhopal gas tragedy from Rs. 750 crore to 7,700 crore.
February 28, 2011 | Filed under National News | Read More
New Delhi, Feb 28 : Union Minister for Micro, Small and Medium Enterprise (MSME) Virbhadra Singh welcoming the General Budget 2011-12, on Monday said the budget allocation of Rs. 2700 crore for the micro, small and medium enterprises sector will spur growth and development.
February 28, 2011 | Filed under National News | Read More
Jammu, Feb.28 : The Jammu- Srinagar highway, which connects Kashmir with the rest of the country, was reopened today, for vehicular traffic. All the essential supplies to Kashmir are routed through this highway, which had been closed for the past two days following heavy rains and snowfall.
February 28, 2011 | Filed under National News | Read More
Paris, Feb 28 – Dior designer John Galliano faces more allegations of making anti-Semitic remarks after a second woman laid a complaint against the British couturier, a French newspaper reported Monday. The young woman told police Galliano made the remarks in the same bistro in the trendy Marais neighbourhood of central Paris where he allegedly verbally abused a couple last week, Le Parisien reported.
February 28, 2011 | Filed under Life Style / Fashion | Read More
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