Tag: Budget 2012

Budget 2012 row: Opposition will attack on UPA in Parliament

DINESH TRIVEDI 300x276 Budget 2012 row: Opposition will attack on UPA in ParliamentFinally Dinesh Trivedi took a decision to resign as Railway Minister on Sunday after Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee went to Delhi in the evening to address a meeting.

“I spoke to Mamata to get her confirmation and she said that I should step down, it was the party’s decision. I must thank the TMC, Mamata, the entire cabinet and the captain Manmohan Singh,” Trivedi said on Sunday while speaking to Mamata.

Suddenly Mamata left for Delhi to chair a meeting in which her parliamentary party leaders came, was a move to put pressure on the government to act upon her wrath of leaving out Trivedi from Parliament to schedule wrong Rail Budget 2012 as fares hike. Read more

Budget 2012: Income tax exemption increases to Rs2 lakh

budget 2012 288x300 Budget 2012: Income tax exemption increases to Rs2 lakhBringing “Aam Admi ka Budget”, Finance Minister Pranab Mukherjee on Friday proposed a big relief for small tax payers by raise the tax exemption limit to Rs2 lakh per annum from Rs1.80 lakh.

Presenting his Budgetary report in Lok Sabha, Mukherjee said, “My proposals on direct taxes are estimated to result in a net revenue loss of Rs4,500 crore for the year.”

Something more is in Budget of 2012-13 as raise the limit to Rs10, 000 of interest income from tax along with tax rate.

Now on basis of Budget proposals, tax payers will have to pay 10% tax on income between Rs2 lakh and Rs5 lakh; 20% between Rs5 lakh and Rs10 lakh; and 30% for above Rs10 lakh. Read more

Rail Budget 2012: Will Dinesh Trivedi quit after presenting Rail Budget?

The fate of Railway Minister Dinesh Trivedi whether he would stay in his post or may resign will be decided after Finance Minister Pranab Mukherjee will reveal the budget report today in Parliament.

Dinesh Trivedi who has presented rail budget for 2012-13 proposed around 20 per cent passenger fare hike on all classes and this has been totally refused by his party Trinamool Congress chief Mamata Banerjee who in her ire wrote PM to left out him.

However on Thursday Trivedi had resigned, but Pranabh refused his resignation yet and asked member in Lok Sabha to wait till PM not reviewed Banergee’s sacking letter.

As per source report, if Trivedi may be last after the union budget is presented by Mukherjee, then Prime Minister Manmohan Singh will appoint Mukul Roy, Banerjee’s nominee to the post. Read more

Budget 2012: Tough time ahead for UPA Government

budget 20122 290x300 Budget 2012: Tough time ahead for UPA GovernmentIn National Capital, the time of the Budget session of Parliament starts on Monday in which UPA Government has difficult situation to convince for its bills as Congress defeated with worst performance in the Assembly Elections.

All party leaders now ready to stand their issues before government in Parliamentary session and major issues in the list are like NCTC, FDI in retail, the ISRO controversy, quota politics and the fishermen killing incident involving two Italian naval personnel.

In this session meanwhile, the government is hoping to pass some important bills the most awaited one is the Lokpal Bill and the Right to Education Bill.

Congress always held against the approval of Lokpal Bill, but the time is not as per accordance and it is likely seem that this time it could not stand against Anna’s Core Committee. Read more

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