India press roundup on budget expectations - Feb 7

Last Updated: Thu, Feb 07, 2013 06:30 hrs

Industry ministry pitches for lower taxes on companies - Times of India

The commerce and industry ministry is pitching for a reduction in corporate taxes, arguing this will generate higher investible surplus with companies. The department of industrial policy and promotion, which is largely responsible for foreign direct investment, has suggested to the finance ministry for a reduction in corporate tax to 25 percent from 30 percent.


Defence budget to shrink in 2013/14 - minister

India's military budget will see a cut in the 2013/14 financial year that begins in April, both in capital and revenue budgets, Defence Minister A.K. Antony said on Wednesday.


Fin Min focuses on containing fiscal deficit - Business Standard

Finance Minister P. Chidambaram said the government was not in a position to borrow beyond a limit and that there was a need to bring down the fiscal deficit. The lack of fiscal space is constraining India's growth, he said.


Commodity transaction tax on govt's agenda - Business Standard

The finance ministry is looking at taxing transactions on commodity exchanges to provide better regulation and monitoring of the market.


Minister says to decide on sugar decontrol before budget - PTI in Business Line

The federal government will take a decision before the budget on Feb. 28 on a proposal to allow sugar producers to freely sell the commodity in the open market, Food Minister K.V. Thomas said on Wednesday.


Food security legislation unlikely in budget session of parliament - Economic Times

The government's ambitious Food Security Bill is unlikely to be tabled in the coming budget session of parliament as the food ministry is in the process of re-drafting the legislation to incorporate changes suggested by a parliamentary panel.


Note: Reuters has not verified these stories and does not vouch for their accuracy. (Compiled by Manoj Kumar in New Delhi; Editing by Ranjit Gangadharan)

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