Sensex down 770 points as budget disappoints (Second Lead)July 6th, 2009 MUMBAI - Investors in Indian equity markets were disappointed with the 2009-10 budget, resulting in a key index plummeting by more than 700 points even as Finance Minister Pranab Mukherjee was presenting the document. Soon after 2 p.m., the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,962.12 points, fell 770.69 points or 5.17 percent to 14,196.01 points.
Provisions for zonal centres in Rs.700 crore culture budgetJuly 6th, 2009 NEW DELHI - The government has earmarked Rs.700 crore for the ministry of culture with more allocations for zonal cultural centres, the Sangeet Natak Akademi, Lalit Kala Akademi, Sahitya Akademi, the National School of Drama, the Asiatic Society, the National Gallery of Modern Art and the Archaeological Survey of India. In the 2009-10 budget presented by Finance Minister Pranab Mukherjee in parliament Monday, Rs.36.1 crore has been earmarked for the building projects of attached and subordinate offices of the ministry of culture.
Congress says budget progressive, opposition calls it 'routine'July 6th, 2009 NEW DELHI - The ruling Congress said Monday the budget presented by Finance Minister Pranab Mukherjee was progressive, but the opposition parties termed it as "routine and inconsequential. "Budget 2009 is progressive, inclusive, growth oriented and balanced.
Life insurers disappointed with budgetJuly 6th, 2009 CHENNAI - The union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday has disappointed the domestic life insurance sector. "There is no major announcement on tax sops.
BJP calls budget 'routine', CPI 'inconsequential'July 6th, 2009 NEW DELHI - The main opposition Bharatiya Janata Party (BJP) Monday described the 2009-10 budget presented by Finance Minister Pranab Mukherjee as routine while the Communist Party of India (CPI) termed it as inconsequential and not addressing the real economic issues. It is a routine budget.
Bengal gains from Mamata-Pranab duetJuly 6th, 2009 KOLKATA - After being showered with goodies in the railway budget, West Bengal Monday got its share of booty from the union budget in terms of grants for the post-Cyclone Aila reconstruction efforts, setting up of an Aligarh Muslim University Campus and announcement of a handloom cluster. Expectations had been high in the run-up to the two budgets, as this was the first time in the last 25 years that both the finance and railways minister were from West Bengal.
Pranab Mukherjee holds pre-budget parleys with Congress leadersJune 16th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee held pre-budget discussions with leaders of Congress party ahead of the budget for full fiscal year 2009/10 (April-March) that would be presented on July 6. "As a party man I have an obligation to listen to the views of my party leaders.
Union budget on July 6, rail budget on July 3June 15th, 2009 NEW DELHI - The union budget for 2009-10 would be presented on July 6 and the railway budget three days earlier on July 3. The dates were decided early Monday before Prime Minister Manmohan Singh's departure for the Russian city of Yekaterinburg, an official said.
Union budget on July 6, rail budget on July 3 (Lead)June 15th, 2009 NEW DELHI - The union budget for 2009-10 would be presented on July 6 and the railways budget three days earlier on July 3. The schedule for the budget session of parliament was decided at a meeting of the union cabinet chaired by Prime Minister Manmohan Singh before his departure for the Russian city of Yekaterinburg to attend the BRIC (Brazil, Russia, India and China) and the SCO (Shanghai Cooperation Organisation) summits.
Budget tops Mukherjee's agenda at meeting with aides (Lead)May 25th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday formally assumed charge of his portfolio and "immediately" convened a meeting with officials to discuss budget issues, which a ministry official said would be finalised before July-end. "There was a closed room meeting with the officials of both the CBDT (Central Board of Direct Taxes) and the finance ministry," the official said requesting anonymity.
China's defence budget to grow 14.9 percent in 2009March 4th, 2009 BEIJING - China plans to increase its defence budget by 14.9 percent in 2009, a parliament spokesman said here Wednesday. The planned defence budget is 480.686 billion yuan ($70 billion), Li Zhaoxing, spokesman for the annual session of the National People's Congress (NPC), told a press conference.
Interim budget fails to cheer realty sectorFebruary 15th, 2009 NEW DELHI - The Indian realty sector, which is reeling under a severe fund crunch, Monday expressed disappointment over the interim budget for 2009-10, saying the government has done nothing to provide relief to the crisis-hit industry. 'The budget has failed to meet the expectations at this time of global downturn,' said Navin M.
Industry body 'disappointed' by railway budgetFebruary 12th, 2009 LUCKNOW - The Indian Industries Association (IIA) Friday expressed disappointment over the interim rail budget presented by railways minister Lalu Prasad. 'We are disappointed that no freight cuts have been announced which would have benefited the industrial sector,' said IIA president Praveen Sadana.
Orissa neglected in interim railway budget: PatnaikFebruary 12th, 2009 BHUBANESWAR - Orissa has been neglected in interim railway budget presented by Railways Minister Lalu Prasad in Parliament Friday, Orissa Chief Minister Naveen Patnaik said here. 'I am disappointed as Orissa has been neglected,' Patnaik told reporters here, adding that only one new express train was proposed to be introduced in the state in 2009-2010.
Antony hopes for hike in 2009-10 defence budgetFebruary 10th, 2009 BANGALORE - Defence Minister A.K. Antony Wednesday hoped that the defence budget for fiscal 2009-10 beginning April 1 would rise despite the recession the Indian economy was going through.
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