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India News

Northeast gets Rs.2,362 crore, promise to mainstream the region

New Delhi : Finance Minister Arun Jaitley Saturday announced a budget allocation of Rs.2,362.74 crore for the Northeast and promised to bring the region into the mainstream.

Jaitley makes fashion statement with Nehru jacket

New Delhi : Finance Minister Arun Jaitley Saturday looked dapper in a striking deep blue Nehru jacket as he presented the union budget.

Jaitley, 62, wore a soothing light blue shirt which he teamed with the striking deeper blue bandhgala and black pants.

The look was smart, suave and well-accessorised with a sleek and chic tan briefcase. Overall, it was a departure from the yellow Nehru jacket he wore to announce his maiden budget.

Over the years, several ministers have made various fashion statements on budget day.

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Budget to pave way for double-digit growth, expand demand: India Inc

New Delhi : Feeling upbeat about Union Budget 2015-16, India Inc expressed the confidence that the proposals have laid down the roadmap for taking India to double-digit growth and the steps to add money in the hands of the consumers would add a lot of comfort to them and help expand demand for goods and services.

Budget 2015-16: What is costlier, what is cheaper

The national budget presented by Finance Minister Arun Jaitley Saturday has the potential to increase what you pay for some commodities while also reducing it for certain categories.

Like in the past the levy on tobacco products has been hiked, making it more expensive
for smokers and other tobacco product users.

Excise duty on cigarettes has been increased by 25 percent for cigarettes of length not exceeding 65 mm and by 15 percent for cigarettes of other lengths.

Delhi Police get Rs. 5,372 crore for upgrading force

New Delhi : Delhi Police have been allocated Rs. 5,372.88 crore for upgrading the force during the 2015-16 financial year, according to the interim budget proposals presented in the Lok Sabha Saturday.

Of the total amount, Rs. 390 crore was earmarked for plan and Rs.4,979.48 for non-plan expenditure.

An amount of Rs. 7 crore has been allocated for developing the traffic and communications network in the National Capital Region (NCR) mega cities and a model traffic system while Rs. 8 crore has been earmarked for installing traffic signals.

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Jaitley postpones fiscal deficit control target deadline by a year

New Year : Finance Minister Arun Jaitley Saturday extended the target deadline for controlling fiscal deficit to three percent reasoning that insistence on a pre-set timetable to contain the deficit would harm growth prospects.

"I will complete the journey to a fiscal deficit of three percent in three years, rather than the two years envisaged previously," Jaitley told the Lok Sabha while presenting the NDA government's first full budget.

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Jaitley favours procurement law to prevent scams

New Delhi : Union Finance Minister Arun Jaitley Saturday advocated a procurement law to check wrongdoings by officials in public procurement.

"I believe parliament needs to take a view soon on whether we need a procurement law and, if so, what shape it should take," Jaitley said in the Lok Sabha, presenting the union budget for the fiscal 2015-16.

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Rs.150 crore for research under Atal Innovation Mission

New Delhi : Finance Minister Arun Jaitley Saturday announced the Atal Innovation Mission (AIM), an innovation promotion platform in the NITI Aayog, with an initial fund of Rs.150 crore for research and development.

Named after former prime minister Atal Bihari Vajpayee, AIM will be an innovation promotion platform involving academics, entrepreneurs and researchers.

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UN climate panel prepares for new leadership post-Pachauri

United Nations : After the sudden departure of environmentalist Rajendra K. Pachauri as chairperson of the UN Intergovernmental Panel on Climate Change (IPCC), the UN climate panel is preparing for a new leadership and plans on another assessment of climate science.

Pachauri is under investigation following allegations that he sexually harassed a colleague at The Energy and Resources Institute (TERI) in New Delhi. Pachauri has denied the allegations against him, but proceeded on leave from TERI, where he was director general.

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MGNREGS given boost in budget

New Delhi : Putting to rest doubts about the continuation of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS), Finance Minister Arun Jaitley Saturday announced an initial allocation of Rs.34,699 crore for the programme.

In addition, the minister said he would allocate an additional Rs.5,000 crore to MGNREGS if he gets more revenue due to tax buoyancy.

The MGNREGS was allocated Rs 32,464 crore last financial year.

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