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Essar Steel, a Ruia owned company, is eyeing a majority stake in Ajmera Group owned company — Shree Precoated Steels (SPSL). This acquisition will help the company emerge as one of the largest players in the cold-rolled segment of steel market. Currently, Essar Steel is the third-largest steelmaker in India. If the stake acquisition goes … Read more Essar Steel eyeing controlling stake in Shree Precoated Steels
There was some disappointment on the fiscal front as the government of India raised the budgeted deficit to 6.8% compared with 5.5% targeted in the interim budget. We believe that the fiscal deficit will be higher than the budget estimate of 6.8% and hence a strain on PSU banks. The finance minister did, however, say … Read more Fiscal Deficit at 6.8%, up from 5.5% given in interim budget
Basic customs duty on life-saving drugs down to 5% from 10%. • Full Customs duty exemption on rough corals. • Customs duty on gold bars up at 200 rupees/10 gms. • Customs duty on life-saving equipment down to 5% from 7.5%. • Customs duty for permanent magnets down to 5% from 7.5%. • 8% excise … Read more Big Indian Budget 2009 – Finance Minister Mukherjee
• Non tax revenue receipts are likely to be better • Total estimated expenditure for 2009-10 is Rs 10 lakh crore • Fiscal deficit seen at 6.8% in FY10 • To eliminate tax distortion • Increasing automation in direct tax collection • Federal Tax/ GDP ratio is 11.5% • TO INTRODUCE GST BY APRIL 1, … Read more Indian Budget – Pranab Mukherjees Transcripts Live
• Govt to set-up expert committee to advise on petro pricing products • Rs 1 lakh crore projects for Infrastructure revival • PSUs to remain under govt control • Govt wants public shareholding in PSUs to go up • 8.5% growth in recent past fueled by pvt sector investment • Income-tax return forms to be … Read more Indian Budget Highlights – Live from Parliament
• Poll result is mandate for inclusive growth. • A single Budget Speech cannot solve all our problems. • Budget an important mean to present the view of the government • Aim: To reduce number of people living below poverty line to less than half of current level by 2014 • Aim to sustain a … Read more Highlights of Indian Budget – Live