Segment-wise, gross tax revenue in 2015-16 is estimated to rise by 15.83 per cent to Rs 14.49 lakh crore, up from Rs 12.51 lakh crore in 2014-15 (as per revised estimate).
AIFs are basically funds established or incorporated in India for the purpose of pooling in capital from Indian investors for investing as per a pre-decided policy.
India's gross borrowing is expected to be 6 trillion rupees ($97.33 billion) for the fiscal year 2015-16.
Companies take advantage of various concessions to reduce tax liability, while individuals park their funds in tax savings scheme to reduce tax burden.
Stating that Budget 2015 comes in the backdrop of a better growth environment than in the past, Jaitley said, "World predicting that it is India's chance to fly."
For the next financial year starting April 1, the government has kept the Budget estimates of Plan expenditure at Rs 4,65,277 crore.
The RBI's net forward outstanding position for up to one year maturities was $31.54 billion as of Jan as compared with $32.81 billion in Dec.
He said the sectors which are already on a 100 per cent automatic route would not be affected. The move would help in attracting foreign investments into the country.
While the government had last year alloted Rs 2.29 lakh crore in the budget, it was revised to Rs 2,22,370 crore.
Fertiliser subsidy has been pegged at Rs 72,968.56 crore for the next fiscal, higher than Rs 70,967.31 crore estimated for this year.
"We will curb benami transactions in property deals. The FEMA Act will be amended to incorporate black money provisions," Jaitley announced.
The disinvestment department has lined up a host of companies including 5 per cent in ONGC, Dredging Corp, and Bharat Heavy Electricals (BHEL).
The government set aside $3.24 billion in net receipts under the market stabilisation scheme in the fiscal 2015/16 year, according to the budget documents. While the government had last year alloted Rs 2.29 lakh crore in the budget, it was revised to Rs 2,22,370 crore.
For every rupee in government coffer, about one-fourth will come from market borrowing in 2015-16, while 20 paise would be spent towards interest payment.
India is expected to provide 1.24 trillion rupees ($20.11 billion) in food subsidies for the fiscal year 2015-16.
India is expected to spend 2.27 trillion rupees ($37 billion) on major subsidies during the fiscal year starting April 1. India's gross borrowing is expected to be 6 trillion rupees ($97.33 billion) for the fiscal year 2015-16. AIFs are basically funds established or incorporated in India for the purpose of pooling in capital from Indian investors for investing as per a pre-decided policy. India plans to spend $40 billion on the defence sector in 2015/16, Finance Minister Arun Jaitley said, when presenting the government's full-year budget.
Subsidies on food, fuel, railway fertiliser and others amount to staggering Rs 3.77 lakh crore but reach only a few of the targeted poor, the Economic Survey said.
The growth registered in 2012-13 stood at 20.8 per cent, while professional, scientific and technical activities including R&D grew by 14 per cent in 2013-14.
The government mopped up over Rs 20,000 crore by raising excise duty on petrol by Rs 7.98 a litre and Rs 6.70 per litre on diesel.
Credit Suisse is expecting a growth-boosting budget on Saturday with increase in public spending and in the personal income tax exemption limits.
Of the total borrowings during the month, $ 1.09 billion was raised through approval route, while $ 1.50 billion came through automatic route.
India as a member of BRICS will be entitled to receive funding from the New Development Bank for infrastructure projects, on application.
National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 302.87 crore for rural infrastructure and warehousing in Odisha.
RBI deputy governor H R Khan said, "It is imperative for EMDEs like India to internalize past crises and take effective steps to safeguard against future shocks."
India must meet its medium-term fiscal deficit target of 3 per cent of GDP. This will provide the fiscal space to insure against future shocks: Economic Survey
“After Silicon Valley, Bangalore has the largest number of people with Hadoop skills. The talent pool is huge,” said Arun Murthy, founder of US-based Hortonworks.
“He has not yet joined, and as of now we are not looking at a chief security officer kind of a role--his expertise is tremendous from products point of view,” the person added.
RBI will conduct an overnight variable rate repo auction for 150 billion rupees ($2.42 billion) on Thursday, it said in a release on Wednesday.
Increase in state's share in central taxes from 32 to 42 per cent would push up the share from Rs 11,328 crore to Rs 28,225 crore.
Despite Apple's late surge on its newly released iPhones, the California giant saw its market share for the year drop slightly to 14.8 per cent.
Haryana Chief Minister Manohar Lal Khattar welcomed in toto acceptance of the 4th Finance Commission recommendations by the Government of India.
In a January call with analysts, Infosys said that it had not seen the desired results with the IPSoft partnership and was looking to build its own capabilities.
With Android and iOS holding some 96 per cent of the market, there has been little progress from alternative platforms, with Windows Phone losing momentum and BlackBerry nearly disappearing, IDC said.
Clonect has raised around $2,50,000 as Angel investment including investments from Balakrishnan and T V Mohandas Pai.
IBM will work with Tech Mahindra to build a platform for the development of cloud-based apps for its clients on Bluemix Dedicated.
According to the report " The state of Internet in India", Mumbai, Chandigarh, Delhi, Chennai and Gurgaon emerged as the top infected cities in 2014.
Hyderabad-based software and services provider to fleet owners Abhibus.com has appointed Kotak Investment Banking for raising USD 40 mn from PE funds.
A little-known Silicon Valley startup was caught in a firestorm of criticism this week for making software that exposed Lenovo laptop users to hackers bent on stealing personal information.
The government should meet its medium-term target of lowering the fiscal deficit to 3 percent of gross domestic product, the economic report said.
The CAD, was 1.7 per cent of GDP ($32.4 billion) in 2013-14. It was at a record high of 4.7 per cent ($88 billion) in 2012-13. “After Silicon Valley, Bangalore has the largest number of people with Hadoop skills. The talent pool is huge,” said Arun Murthy, founder of US-based Hortonworks.
Finance Minister Arun Jaitley yesterday had said the Centre has accepted the recommendations of the Finance Commission and it shows NDA government's commitment to cooperative federalism.