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Mumbai, February 12  
We have good, strong buyers for Chennai plant: Nokia CEO Suri
Nokia says it has received expressions of interest from multiple entities to acquire its mobile handset manufacturing plant in Sriperumbudur, near Chennai. Speaking to Busines... »
Kolkata, Jan 16  
Closure of Haldia Petrochem impact minimal, says IOC
Indian Oil Corporation today said the impact of closure of Haldia Petrochemicals on its refinery was minimal as the facility had switched to other product mix.“We have switched to other pro... »
Chennai,Jan 9  
Foxconn workers to intensify stir
To intensify their agitation against suspension of production at the Foxconn India facility at Sriperumbudur near here, the employees have decided to stage a protest in front of the Kancheepuram D... »

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Budget 2015 highlights

  • Following are the highlights of the Union Budget 2015-16 presented by Finance Minister Arun Jaitley in Parliament today:
  • No change in personal Income Tax * Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000
  • Transport allowance exemption hiked to Rs 1,600, from Rs 800 per month
  • Additional 2% surcharge on people earning over Rs 1 cr; to fetch Rs 9,000 cr
  • Wealth tax abolished
  • Direct Taxes Code (DTC) dropped
  • Rs 50,000 deduction for contribution to New Pension Scheme
  • To lower Corporate Tax to 25% over next four years
  • GAAR implementation deferred by 2 years to April 2017
  • Service Tax rate hiked to 14%, from 12.36%
  • Tax free bonds for roads, railways, irrigation projects
  • 2015—16 growth between 8—8.5%, double digit growth feasible
  • Retail inflation close to 5% by March, room for monetary policy easing
  • To achieve fiscal deficit of 3% of GDP by 2017—18
  • Fiscal Deficit target 3.9% in 2015—16, 3.5% in 2016—17
  • Revenue Deficit to be 2.8% in 2015—16
  • Current Account Deficit for 2014—15 to be below 1.3% of GDP
  • To introduce comprehensive law to deal with black money
  • Benami property transaction bill to tackle black money transaction in real estate soon
  • 100% deduction for contribution to Swachh Bharat, Clean Ganga projects
  • GST to be put in place by April 1, 2016
  • Internationally competitive direct tax regime to be put in place to incentivise saving
  • Incentivise use of credit, debit cards; disincentivise cash transaction to curb black money.
  • There are those who dread exams. And then there are those who thrive on acing them year after year »


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