Business

The Budget proposed to allow aviation companies to raise capital through external borrowings worth $1 billion during the next fiscal.

Many commentators have slammed the budget as pedestrian for numerous petty tax concessions.

Railway Minister Dinesh Trivedi, whose fate hangs in balance, on Friday maintained his decision on the fare hike.

The Government is also examining the possibility of creating a financial holding company which will raise resources to meet the capital requirements of PSBs.

Service tax has been hiked to 12 per cent from the existing 10 per cent except in a few items.

Chief Economic Adviser Kaushik Basu says that the Indian economy has some fundamental strengths, but a few reforms are really needed.

The project, estimated to cost about Rs 77,000 crore, includes interlinking of the two routes at Khurja in Uttar Pradesh.

FICCI said that the Railway Budget for 2012-13 is an attempt to put the Railways finances back on track through revenue mobilisation efforts.

Here is the full text of the speech made by Railway Minister Dinesh Trivedi Minister on Railway Budget 2012-13.

Bihar Chief Minister Nitish Kumar wondered why the Railway Minister needs to be apologetic while increasing fares.

While passenger fares have been increased marginally, 75 new express trains have been announced.

The Government should cut deficit, take decisions without fear of corruption allegations, and push the reform agenda in the Budget.

CNN-IBN's Axe the Tax campaign took your tax wishlist to the Finance Minister - with the six taxes that you want the Government to axe.

Last month the company had informed the authorities that it will be operating 140 flights daily.

The beleaguered carrier has already returned one leased Airbus A330-320 to its lessor in Britain, the airlines said.

The Axe The Tax for financial year 2012-13 include six proposals.