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Union Budget 2015-16: Be ready to pay more as Arun Jaitley's budget increases service tax to 14 per cent

Narendra Modi-led NDA government has presented its first Union budget for 2015-16 in parliament today. Finance minister Arun Jaitley's budget has increased service tax from 12.36 per cent to 14 per cent. Against all expectations of the salaried class, there is no change in the existing income tax rates for the individuals. The government has decided to go with the existing tax slab.

Contributed by : Shiv Prakash

Rahul Gandhi's sabbatical, budget session and the opposition's jibe

The Congress vice-president Rahul Gandhi is not attending the crucial budget session of the parliament. The Congress party had to protest against the proposed amendments in the existing Land Acquisition Law, 2013 at Jantar Mantar without Rahul Gandhi. But why Mr. Gandhi was absent?

Contributed by : Bolla Alekhya

Rail Budget 2015-16: Consumer groups appreciate Suresh Prabhu's passenger focused schemes

Indian railway minister Suresh Prabhu presented his maiden rail budget in Lok Sabha on Feb 26. Rail minister tried his best to give his budget a shape of passenger friendly budget while announcing host of schemes that would benefit commuters in future. The biggest relief for the passengers came into the form of no hike in fares.

Contributed by : Bolla Alekhya

Economic Survey indicates govt focused on economic reforms despite political hurdles: Industry Association

BJP-led government presented the Economic Survey 2014-15 in parliament. The survey is hopeful that in financial year 2015-16 Indian economy would grow at the rate of 8.1 - 8.5 per cent. For the present fiscal year the survey has projected a growth rate of 7.4 per cent.

Sukanya Sheoran

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