11844 stories by IPA Staff
Budget Makes Equity Market Attractive
By Anjan Roy NEW DELHI: Pranab Mukherjee’s budget has sought to deepen and widen the reach of the financial sector by bringing about several changes for participation in markets. The equity market has been made more attractive to the retail small investor by giving 50% income tax deduction to...
Sensex dips 210 points on higher tax proposals
In highly volatile movements, the BSE benchmark Sensex on Friday plunged nearly 210 points as the government’s budgetary proposals to raise taxes dampened the market sentiment, even as global stock markets were firm. Sensex saw the day’s high of 17,871 but fell as Finance Minister Pranab Mukherjee unveiled the...
Sachin creates history with 100th ton
A long wait for the coveted landmark came to an end as Sachin Tendulkar scored his 100th century on Friday against Bangladesh at Dhaka. Iconic Indian batsman Sachin Tendulkar on Friday scripted history by becoming the first cricketer in the world to score 100 international centuries, a phenomenal feat...
Budget Fails To Cheer Industry; Neither Reformist Nor Populist
By Nantoo Banerjee The Rs. 14.90-trillion crore heavily debt-dependant annual budget for 2012-13 is a road to almost nowhere. From the country’s proverbial Aam Aadmi to the lofty air-conditioned stock exchange tower on Mumbai’sDalal Street, all are confused about the direction of the budget. Stockbrokers, who expected a big-ticket...
A Pragmatic Budget Amidst Political Crisis
By Nitya Chakraborty NEW DELHI: Finance Minister Pranab Mukherjee has done what he was expected to do. In his 2012-13 budget, Pranabbabu has acted as a crisis manager of the second United Progressive Alliance Government and has come out with a policy package which may not be bold or...
Central Budget a Mixed Bag for the Textile Industry: CITI
Friday, March 16, 2012, New Delhi: The Confederation of Indian Textile Industry (CITI) has welcomed some of the announcements included in the Central Budget presented by Shri Pranab Mukherjee, the Honourable Finance Minister of India today. In a statement here, Shri S.V. Arumugam, Chairman, CITI stated that abolition of...
Haryana Chief Minister hails the Union Budget 2012-13
Chandigarh, March 16- Haryana Chief Minister Mr Bhupinder Singh Hooda has hailed the Union Budget 2012-13 presented by Union Finance Minister, Mr Pranab Mukherjee in the Parliament today and described it as a pro-people and progressive budget which would boost economy and benefit all sections of the society, especially...
Haryana Education Minister Welcoms Union Budget
Chandigarh, March 16- Haryana Education and Social Justice and Empowerment Minister, Mrs Geeta Bhukkal has welcomed the Union Budget for the year 2012-13. In a statement issued here today, she appreciated the proposal to have an increase of 18 per cent to Rs.37,113 crore for Scheduled Castes Sub Plan...
Reports on threat of sanctions on India highly speculative:US
WASHINGTON: Amid reports claiming America has threatened India with sanctions if it does not reduce its Iranian oil imports by June end, US officials on Friday said Washington and New Delhi are having “productive conversations” on the issue and termed the reports as “highly speculative”. “Recent headlines on India...
Union Budget 2012-13: What goes up, down
NEW DELHI: Pranab Mukherjee, while presenting the Union Budget 2012-2013 proposed to increase duty on large cars and refined gold and remove any duty on import of silver. Here is a look at what goes up and what goes down. Almost all the manufactured items used in every day...
Defence budget hiked by more than 17 pc
With several defence deals including the one to procure 126 combat aircraft for the IAF expected to be clinched this year, the Defence Budget was today substantially hiked by more than 17% to Rs 1,93,407 crore from last year’s Rs 1,64,415 crore. Of the total outlay, over Rs 79,500...
Sensex moves higher; M&M, ITC, HDFC Bank, DLF gain
MUMBAI: The Bombay Stock Exchange’s Sensex bounced back led by gains in FMCG, auto, banks and realty space as the Finance Minister Pranab Mukherjee tabled Union Budget for FY12-13 in Lok Sabha. The minister expect fiscal deficit to slip to 5.1 per cent in FY13. The minister expects current...
Nifty under pressure; Reliance Industries, ONGC, Cairn India down
MUMBAI: The National Stock Exchange’s Nifty was near day’s lows as profit booking intensified in oil&gas majors Reliance Industries, ONGC and Cairn India after the Finance Minister Pranab Mukherjee announced cess on crude petroleum oil products as he tabled Union Budget for FY13 in Lok Sabha. “Budget looks more...
Pranab Chooses A Politically Safe Budget
By S. Sethuraman The Finance Minister Mr Pranab Mukherjee has preferred to strike a middle path between boldness and populism in order to gain a broad acceptance of his Budget for 2012-13, fashioned on predictable lines — a course warranted by the political challenges for his Government and an...
Three Strategies To Cushion Rupee Against Large Capital Outgo
NEW DELHI: The government may adopt a three-pronged strategy to cushion the rupee against the potential impact of large-scale capital outflows. This includes curbs on imports of unproductive products like gold and consumer items, easier FDI policy, and an enhanced focus on exports. The government’s new thinking is apparently...
Global Majors Eye Suzlon's German Arm, REpower
MUMBAI: Talk of a stake sale in Suzlon’s European business is back. Global power equipment and wind turbine majors Alstom, Siemens and GE are negotiating with Suzlon Energy for a possible buyout of its German subsidiary REpower, said two people familiar with the ongoing negotiations. They said the talks...
Embraer Bullish On Indian Biz Jet Market
HYDERABAD: Brazilian aircraft maker Embraer is bullish about the prospects of the Indian business jet market, the second largest in the Asian region after China. “In Asia after China.. Indiais the second-largest market. We cannot overlook by any means developments of this market,” Embraer...
Can India Ever Militarily Checkmate China?
Going by current trends of the Indian political leadership and the apex national security establishment of investing more on diplomacy than military preparedness to ward off ‘The China Threat’, the analytical answer is a big NO. Strategic analysis would suggest that it should be a pressing strategic imperative for...
