Budget date may be announced today
New Delhi: The Union Cabinet will meet today and is expected to announce the date for the presentation of the government's first budget. According to a tentative schedule, the budget session will get underway from July 5.

While Railway Minister Lalu Yadav is expected to present his ministry's budget on the sixth, the economic survey is slated to be tabled on the seventh. The likely date for the budget is July 8.

Ten working days are expected to be devoted the debate on the railway and finance bills. The Parliament then could be adjourned from the July 24 to August 15. The session will end on September 3.
Back to News Review index page  

Petrol prices likely to go up
New Delhi: A marginal hike in petrol and diesel prices is expected to be announced today. Petrol prices are expected to go up by Rs1.50 per litre, while diesel costs are likely to go up by 75 paise to a Re 1 per litre.
Back to News Review index page  

CII delegation meets Shinde on job reservation
Mumbai: The Maharashtra Chief Minister, Sushil Kumar Shinde, has assured members of a CII delegation that it was open on the issue of reservation of jobs. The delegation, according to a CII press release, met Shinde regarding the January 29 notification of Maharashtra Act No. VIII of 2004, which introduces 52 per cent job reservation for the backward classes in the private sector.

Expressing satisfaction over the discussions the CII President, Anand Mahindra, said the Government was open on this issue and would see that the Act, basically framed to reserve jobs in the public sector, would not create difficulties to investors and industry. He added that since the rules for implementation of the notification had not been drafted yet, this was a good time for the Government to consult the industry on the notification's nuances.
Back to News Review index page  

Nasscom for exemption of excise duties on computers
New Delhi: The National Association of Software and Services Companies (Nasscom) has called for complete exemption of excise and customs duties on computers in order to increase computer penetration. Sales to educational institutions, gram panchayats and local governments should be exempted from all import and/or excise duties, Nasscom has said in its pre-Budget recommendation.

Second-hand usable computers discarded from the developed countries should be permitted to be freely imported into India on duty-free basis, provided they are given on free-of-cost basis to educational institutions, said Nasscom. The Government has already agreed, in terms of the Information Technology Agreement, that import duties for IT products would be reduced to 10 per cent in 2004 and made zero by 2005. Nasscom recommends advancing these targets by a year.
Back to News Review index page