More support for capital goods industry: MinisterJuly 13th, 2009 MUMBAI - The capital goods industry can expect more supportive measures from the government in the coming months, Heavy Industries Minister Vilasrao Deshmukh said here Monday. Our endeavour is to support the capital goods industry so that it can help Indian manufacturing industry to meet the challenge of global competition and sustain the growth momentum in exports, Deshmukh said at a function organised by the Confederation of Indian Industry (CII).
Andhra industry fears losing KG basin gasJuly 6th, 2009 HYDERABAD - The national gas grid proposed in the union budget by Finance Minister Pranab Mukherjee Monday triggered fears in the Andhra Pradesh industry that the gas found in the Krishna-Godavari (KG) basin might go out of the state, starving the local units. An industry leader urged the state government to ensure the requirements of the local industry were met while building a national gas grid.
Recession-hit Gujarat auto part makers hope for budget concessionsJuly 4th, 2009 RAJKOT - Auto part makers in Rajkot are hoping for concessions in excise duties and taxes in the coming budget. The city, which has with over 5,000 small and medium scale industries, is a hub for making auto parts.
Trinamool workers cheer Mamatas railway budgetJuly 3rd, 2009 KOLKATA - "Its a budget for maa, mati, manush (mother, motherland and people)," is how a jubliant Trinamool Congress worker described party chief and Railways Minister Mamata Banerjee's rail budget presented Friday. Trinamool workers in West Bengal cheered the budget and said it will lead the party to victory in the next assembly polls.
Diamond cutting industry hopes for tax sops in union budgetJune 28th, 2009 SURAT - As the government gears up to present this year's union budget, the recession-hit diamond cutting industry is looking forward to some sops, which could bail it out from the economical rough waters. Traders in Surat, nation's diamond hub, said they are anticipating some tax relief in the budget.
NY budget official predicts end to recession later this year, but doesn't expect major reboundApril 28th, 2009 NY budget official: Recession to end later in yearALBANY, N.Y. — New York state budget officials predict the national recession will end sometime in the third quarter of 2009.
India Inc. says budget not up to expectations, but hails rural spendingFebruary 15th, 2009 NEW DELHI - Hours after External Affairs Minister Pranab Mukherjee presented the interim budget for 2009-10, India Inc. said Monday that the budget failed to live up to expectations, but welcomed the higher spending in social and infrastructure sectors, saying it will become the 'main source of demand generation'.
Government mandate only for interim budget: AhluwaliaFebruary 15th, 2009 NEW DELHI - Reacting to criticisms over lack of measures in the interim budget presented Monday, Planning Commission Deputy Chairman Montek Singh Ahluwalia said in an election year, an incumbent government had the mandate only to present a vote on account. 'I think this is a failure to understand the limitations of an interim budget,' Ahluwalia said, soon after industry and average citizens complained that the interim budget tabled in parliament by External Affairs Minister Pranab Mukherjee had no specific measures on tax rates or to help cushion the impact of global slowdown.
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.
Interim budget fails cheer marketsFebruary 15th, 2009 MUMBAI - Indian equities closed in the red Monday as the interim budget presented by the government failed to offer any sops to investors. A key index ended 3.42 percent lower than its previous close.
Manmohan Singh approves interim budget for presentation MondayFebruary 14th, 2009 NEW DELHI - Prime Minister Manmohan Singh Sunday went through the documents related with the interim budget that will be presented to parliament Monday, and after the approval of the house forwarded to President Pratibha Patil for her assent, as per convention. The prime minister also formally approved the speech of External Affairs Minister Pranab Mukherjee, who will be presenting the interim budget to the Lok Sabha, said official sources.
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.
Kolkata's businessmen not happy with interim rail budgetFebruary 12th, 2009 KOLKATA - The interim railway budget presented by Railways Minister Lalu Prasad in the Lok Sabha Friday could not match the expectations of the business community here, which is reeling under the impact of global economic slowdown. 'Though there are many positive proposals, there was no reduction in trade rates, which could have helped industry and trade in times of economic recession,' Sanjay Budhia, president of Indian Chamber of Commerce and Industry, told IANS.
Industry lauds rail budget, but unhappy with freight ratesFebruary 12th, 2009 NEW DELHI - India Inc lauded the rail budget tabled in parliament Friday, but said Railway Minister Lalu Prasad has not responded to the prevailing slowdown in the country's economy that could have been somewhat cushioned by a cut in freight rates. 'The Railway Minister has presented a mixed budget,' said Harsh Pati Singhania, president of the Federation of Indian Chambers of Commerce and Industry (FICCI).
No more tax breaks before budget: AhluwaliaJanuary 19th, 2009 NEW DELHI - There will be no tax breaks before the budget, the government said here Tuesday. 'I don't expect tax breaks between now and the budget session,' said Planning Commission Deputy Chairman Montek Singh Ahluwalia.