Business

Finance Minister Pranab Mukherjee increased excise duty to the pre-crisis level of 12 per cent from 10 per cent.

In the Budget, the government has proposed amending the I-T Act with effect from 1962 to bring under net all overseas transactions involving domestic assets.

Software body Nasscom on Friday expressed its disappointment over the budget.

Pranab is under pressure to trim the country's fiscal deficit amid cooling economic growth.

Pranab's reference was to the rail budget where TMC has asked for a rollback of the hike in passenger tariff.

Budget 2012-13 has been presented against the backdrop of slowing growth and burgeoning fiscal deficit.

The Congress pointed out to her that sacking a minister mid session and swearing in another would not send out a good signal.

The sharp increase in repo and reverse repo rates in the last two years has affected housing demand.

Individually, Mukherjee will present the Union Budget for the seventh time, the second-highest by any Finance Minister.

Former Lok Sabha speaker Somnath Chatterjee said that he admires what Dinesh Trivedi and this is what should be done.

The Railways is expected to fall short of its targeted revenues by as much as Rs 2,322 crore mainly due to lower passenger earnings.

He added that it was for Kingfisher promoter Vijay Mallya to marshal funds to bring the carrier out of the financial crisis.

Fare hike: 3 paise/km for mail/express 2nd class; 5 paise/km for sleeper; 10 paise/km for AC Chair Car, AC 3 tier and First Class.

Railway Minister Dinesh Trivedi is all set to present the Rail Budget in Parliament on Wednesday.

A 60-year-old to be termed a senior citizen. But the age limit is 65 to avail medical insurance benefits.

The economy will recover on the back of strong fundamentals and favourable domestic factors, President Pratibha Patil said.