Budget 2016
India unveiled a budget for the poor on Monday, announcing new rural aid schemes and skimping on a bank bailout, in a strategy shift that seeks to boost Prime Minister Narendra Modi's ruling party in coming state elections.
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Shares in cigarette maker ITC extend falls, down 4.7 percent at 12.36 p.m.; Jaitley raises tax on some tobacco products -
Monetary limit for cases to be decided by 1-member bench up from 15 lakh to 50 lakh rupees: FM #VikasKaBudget #Budget201612:35 PM - 29 Feb 2016- Reply
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FM Arun Jaitley proposes to abolish 13 different levies #Budget2016
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I-T department to expand online mechanism in mismatches of tax returns - Jaitley -
A new grading system of imposing penalties to be introduced on the basis of under reporting or concealment of income: Shri @arunjaitleyRetweeted by FinMinIndia12:34 PM - 29 Feb 2016- Reply
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Scope of e-assessment to be expanded to 7 mega cities, to simplify compliance for taxpayers: FM #VikasKaBudget #Budget201612:39 PM - 29 Feb 2016
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Additional 1 pct tax on sale of luxury cars costing more than 1 mln rs. So much for Indian car buyers wanting to go upmarket! #Budget2016by Aditi Shah via twitter 2/29/2016 7:10:43 AM -
BSE auto index down nearly one percent at 12.39 p.m. after the finance minister announces infrastructure cess on certain vehicles
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#UnionBudget2016 It's official - It's a farmer's budget. And as usual, no cheers for tobacco users :-pby David Lalmalsawma via twitter 2/29/2016 7:11:15 AM -
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No where is the phrase "The Devil is in the Detail" more apt than in India's #Budget2016!by Nita Bhalla via twitter 2/29/2016 7:11:27 AM -
Net revenue gain of 196.10 billion rupees see from tax in 2016-17: Jaitley
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#Budget2016: Finance Minister Arun Jaitley makes no mention of revising gold import duty in speech
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April-January fiscal deficit at 5,322.81 billion rupees - government
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Some taxation announcementsHighlights of #Budget2016 - steps regarding undisclosed income | Click https://t.co/OzkkeyyuJT https://t.co/yJWyTcRdNM
1:12 PM - 29 Feb 2016- Reply
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1:11 PM - 29 Feb 2016- Reply
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#VIkasKaBudget :: Technology to be used in all aspects. Tax, markets, e-Sahyog, Data Mining - FM @arunjaitley12:40 PM - 29 Feb 2016- Reply
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Government to pay interest of 9 per cent, instead of 6 per cent, in case of delay in tax orders. Officers responsible for delay made liable.12:41 PM - 29 Feb 2016- Reply
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#मेरा_बजट
11 new benches of tax tribunals to be established to reduce pendency : .@arunjaitley https://t.co/hAesuC5WNT
12:42 PM - 29 Feb 2016- Reply
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1:08 PM - 29 Feb 2016- Reply
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Former finance minister in the earlier BJP-led government reactsYes FM has passed the test, there is something for everyone in this budget-Yashwant Sinha,Former Finance Minister https://t.co/TJHCLJrog6
1:12 PM - 29 Feb 2016- Reply
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India markets update: Sensex reverses losses to trade 0.6 percent higher at 1.22 p.m.
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#Budget2016 REACTION
Need more funds for education so that ugly protests like that of Jat reservation could be sorted out. Happy that it's a pro-agri budget
Arti Shukla, 34, marketing professional -
#Budget2016 document: Monetary policy committee to decide policy rates to achieve inflation target
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#Budget2016 document: Monetary policy committee decision shall be binding on the Reserve Bank of India
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#Budget2016 Reaction
Double the price of tobacco products if you want people to stop smoking cigarettes, students won't be bothered by a 5 percent hike.
Jatin, 22, student -
Reaction from one of the Leftist parties in IndiaOutside budget they promised a lot to corporate sector. Not evident now. Nothing spectacular in budget: D Raja, CPI https://t.co/YmvSFvk172
2:04 PM - 29 Feb 2016- Reply
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Some #Budget2016 announcements for the health sector. Click here for more highlights https://t.co/M7MnYiz3jc https://t.co/w8YeWaIFOg
2:01 PM - 29 Feb 2016- Reply
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S&P on budget: limited progress on fiscal consolidation only modestly reduces India's vulnerabilities
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#Budget2016 REACTION
Government employees have not benefited. Expected more tax relief. The burden of paying taxes falls on only the service class, its ambit should be widened.
Praveen, 50, government employee -
#Budget2016 document: Government proposes developing electronic platform for repo in corporate bonds in 2016/17
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S&P on #Budget2016
- Limited progress on fiscal consolidation only modestly reduces India's vulnerabilities
- Do not expect to change our India's sovereign rating this year or next
- Government’s debt burden, subsidy spending continue to significantly constrain its fiscal policy options
- Government may have to reduce capital spending again to curb budget deficit if economic growth undershoots government assumptions -
Govts over years have promised exemptions (on corporate tax), if I had withdrawn those exemptions..cntd: FM Arun Jaitley on #UnionBudget20162:48 PM - 29 Feb 2016
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...prior to sunset clause I’d be accused of retrospective change. I have now given notice of 4 reductions that starts next year:FM A Jaitley2:48 PM - 29 Feb 2016- Reply
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So next year I will start getting benefit of exemptions being diluted: Finance Minister Arun Jaitley #UnionBudget20162:49 PM - 29 Feb 2016- Reply
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Jaitley speaks on exemptions on corporate tax in budget. -
Former minister from the Congress-led central government reacts.
Govt has painted a very general picture, have adopted many old policies of UPA-Shashi Tharoor #UnionBudget2016 https://t.co/B0Rc2u5wcM
1:01 PM - 29 Feb 2016- Reply
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What's in it for you: ceiling of tax rebate under Section 87A of I-T Act has been proposed to be raised to 5,000 rupees from 2,000 rupees for individuals with income less than 500,000 rupees
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What's in it for you: limit of deduction of house rent paid under section 80GG has also been raised to 60,000 rupees from the existing 24,000 rupees per annum
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What's in it for you: withdrawal up to 40% of the corpus at the time of retirement tax exempt in the case of National Pension Scheme(NPS).
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What's in it for you: Annuity services provided by the National Pension Scheme (NPS) and services provided by EPFO to employees exempt from service tax
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What's in it for you: service tax on single premium annuity (insurance) policies cut from 3.5% to 1.4% of the premium paid in certain cases
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What's in it for you: for first-time home buyers, deduction for additional interest of 50,000 rupees per annum for loans up to 3500,000 rupees sanctioned during the next financial year, provided the value of the house does not exceed 5000,000 rupees
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Sensex provisionally ends 152.30 points lower with 18 components in the red
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What's in it for you: government proposes to pay 8.33 pct for all new employees for first three years of employment
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Join @Busvine and @rajeshkumarsgh for a #Budget2016 chat at 5 p.m.
Tweet your questions using #Budget2016onReuters https://t.co/kTisWjQ6em
3:32 PM - 29 Feb 2016- Reply
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What's in it for you: cars, ready-made branded garments costing over 1000 rupees, cigarettes and tobacco have become costlier
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Jaitley avoids specifying 17/18 deficit target - says will go for a range and seek advice of experts... -
Markets react to budget –
*Indian shares fall in volatile session - Sensex and Nifty down 0.6 pct
*Energy companies such as ONGC slump after the government unveiled higher-than-expected tax -
by Zeyad Masroor Khan via twitter edited by Reuters_TonyTharakan 2/29/2016 10:50:15 AM
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Tens of thousands expected to rally to demand Hong Kong leader steps down
HONG KONG Tens of thousands are expected to take to the streets in Hong Kong on Sunday to demand the city's leader steps down, a day after she suspended an extradition bill following the most violent protests in decades.