Tag: Pranab Mukherjee

Budget 2012: Income tax exemption increases to Rs2 lakh

Mar. 16 Business Comments Off

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

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

Mar. 16 General News, India News Comments Off

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

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General VK Singh Age Issue: SC to hear plea today

Feb. 03 General News, India News Comments Off

V K Singh Army cheif 272x300 General VK Singh Age Issue: SC to hear plea todayThe army chief General VK Singh’s age row petition will hear by the Supreme Court today and the court will hear the over all matter from both sides.

The major steps has been taken to solve the age row issue and the finance minister Pranab Mukherjee also met with General in a day before hearing for reaching on any stage of ending the issue, but in his half an hour meeting at Mukherjee’s South Block office late in the evening, Pranab was not asked for compromising, only asked for updates of issue and know the date of hearing on apex’s court.

General’s major step to come the govt. into the Supreme Court is came out after the defence ministry in December rejected his statutory complaint, requesting a change of his year of birth in official records to 1951 from 1950. Read more

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India will not decrease imports from Iran: Pranab Mukherjee

Jan. 30 Business Comments Off

pranabmukher 300x248 India will not decrease imports from Iran: Pranab MukherjeeIt is expected that Iran is in a great force to make the nuclear missiles for challenging American troops. Several nuclear reactant centers have also been identified in Iran and while asking Tehran says its nuclear program is for peaceful means.

The US and European Union banned oil imports from Iran earlier this month and they wants from India to do same for pressuring on Tehran to ruin its nuclear projects.

But by rejecting the sanction against Tehran, the Finance Minister of India, Pranabh Mukherjee clearly said that it would not possible for India to cut petroleum oil imports from Iran. Read more

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