Union Budget 2013-14 of India Highlights Live Rail pdf Income Tax Latest News Images Photos New

Union Budget 2013-14 of India.Union Budget 2013-14 Highlights.Union Budget 2013-14 Live.Union Budget 2013-14 Rail.Union Budget 2013-14 pdf.Union Budget 2013-14 Income Tax.Union Budget 2013-14 Latest News.Union Budget 2013-14 Images.Union Budget 2013-14 Photos.Union Budget 2013-14 New.

Budget 2013: No tax slab revision, new taxes on super rich; SUVs, mobiles costly

The government unveiled new taxes on the rich and large companies on Thursday to fund higher-than-expected spending for the next fiscal year, in a budget that aimed to revive growth amid the country's worst slowdown in a decade ahead of a 2014 election. 

Stocks, bond prices and therupee all fell despite finance minister P Chidambaram's vow to cut next year's fiscal deficit to 4.8% of GDP, which some watchers said counted on ambitious revenue assumptions given hefty spending targets.

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There had been widespread expectation, fuelled in part by comments by finance ministry officials, that Chidambaram would present an austere budget in line with the spending cuts he forced on government ministries in recent months.

But the spending plan appeared to have been drawn up with a looming general election in mind, some economists said.

"With a general election not much than a year away, political pressure from within the Congress Party may well have had an influence on the make-up of the Finance Minister's budget," Credit Suisse said.

Union Budget 2013-14 of India Highlights 

Chidambaram, a three-time finance minister seen as a candidate for prime minister in 2014, has staked his reputation on cutting swollen fiscal and current account deficits that have alarmed credit rating agencies and triggered warnings that India's sovereign bonds could be downgraded to 'junk' status. There was no immediate comment from the agencies.

"Fiscal consolidation cannot be effective only by cutting expenditure," Chidambaram said in his speech, seen as a balancing act to stave off a credit rating downgrade while meeting demands for populist spending heading into an election year.

Hefty revenue growth assumptions

Total budget expenditure will rise by an unexpectedly high 16% in the 2013/14 fiscal year that begins on April 1 to 16.65 trillion rupees.

Next year's fiscal deficit target is in line with expectations but assumes hefty revenue growth, including 558 billion rupees from the sale of government stakes in companies, or more than double the 240 billion rupee target for the current year, which falls short of the initial target.

"From a macro perspective, the budget is disappointing in our opinion as it lacks any expenditure control," Nomura analysts wrote.

The budget also assumes revenue of 408.5 billion rupees from telecoms sector fees, more than double what it will generate this year, with its next auction of mobile airwaves poised to flop after attracting just one bidder.

"The government may fall short of its tax and disinvestment targets and end up cutting spending closer to the end of the year to attain its fiscal deficit target," said A. Prasanna, economist at ICICI Securities Primary Dealership Ltd.

Net market borrowing of 4.84 trillion rupees for the new fiscal year met investor hopes that the figure would not top 5 trillion rupees, but the gross figure exceeded expectations.

The budget included several measures to spur investment both in markets and by corporations, including an incentive on investments in plant and machinery exceeding 1 billion rupees and extending tax breaks for small companies that grow larger, and an expansion of tax-free bonds for infrastructure.

Chidambaram has focused on winning back foreign investors unnerved by proposals of his predecessor, Pranab Mukherjee, to tax merger deals retrospectively and clamp down on tax evasion. Since September, he has implemented a spate of investor-friendly reforms, including allowing entry of foreign supermarkets.

"India, at the present juncture, does not have the choice between welcoming and spurning foreign investment. If I may be frank, foreign investment is an imperative. What we can do is to encourage foreign investment that is consistent with our economic objectives," he said.

Fending off 'junk'

India's fiscal and current account deficits have alarmed investors and ratings agencies, triggering warnings that the country's sovereign bonds could be downgraded to 'junk' status if urgent steps are not taken to rein in spending.

Chidambaram has staked his reputation on hitting a fiscal deficit target of 5.3% of GDP this year and 4.8% in 2013/14.

A no-nonsense, Harvard-educated, lawyer who commands both respect and fear in government, he squelched opposition from cabinet colleagues worried that spending cuts could ignite a backlash among voters.

Chidambaram has focused on winning back foreign investors unnerved by proposals of his predecessor, Pranab Mukherjee, to tax merger deals retrospectively and clamp down on tax evasion. Since September, he has implemented a spate of investor-friendly reforms, including allowing entry of foreign supermarkets.

Dozens of corporate executives, watching a telecast at an industry event, exchanged nervous smiles as Chidambaram introduced the surcharge on the rich.

"In the larger scheme of things, I guess that is one way of reducing his deficit. Am I going to lose sleep over it? No," Ganesh Natarajan, CEO of IT outsourcer Zensar Technologies, told Reuters by phone.

A flagging economy left Chidambaram with little room for big-bang populist measures without raising revenue, with economic growth for the current fiscal year on track to hit just 5%, nearly half of what it was in 2007/08.

"This country must not lose any time - India must get its act together to accelerate the tempo of growth," Prime Minister Manmohan Singh said in a TV interview after the budget speech.

The budget also reflects the realities of a country of 1.2 billion people, many of them poor.

"On the one side is the economic policy, on the other side is economic welfare. We are a developing country. The link between policy and welfare can be expressed in a few words: Opportunities, education, skills, jobs and income," Chidambaram said.

HT Poll: 

Hey, big spender

While the added spending included capital investment that many have said is sorely needed, including a 29% increase in funding for infrastructure and development, it also included a 46 percent jump in funding for development programmes in rural areas, the core voter base of the ruling Congress party.

An added surcharge on local firms with incomes of more than 100 million rupees and a 10% surcharge on individuals with taxable incomes topping 10 million rupees - a level of earnings currently declared by just 42,800 people - will be put in place for one year.

Dozens of corporate executives, watching a telecast at an industry event in New Delhi, exchanged nervous smiles as Chidambaram introduced the surcharge on the rich.

"In the larger scheme of things, I guess that is one way of reducing his deficit. Am I going to lose sleep over it? No," Ganesh Natarajan, CEO of IT outsourcer Zensar Technologies (ZENT.NS), said by phone from Pune, where the company is based.

Indian economic growth for the current fiscal year is on track to hit just 5 percent, nearly half its level in 2007/08.

"This country must not lose any time - India must get its act together to accelerate the tempo of growth," Prime Minister Manmohan Singh said in a TV interview after the budget speech.

The budget also reflects the realities of a country of 1.2 billion people, many of them poor. "On the one side is the economic policy, on the other side is economic welfare. We are a developing country. The link between policy and welfare can be expressed in a few words: Opportunities, education, skills, jobs and income," Chidambaram said.

Budget 2013: What's Cheaper, What's Costlier

 

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Jennifer Lawrence Oscars Winters Latest News Photos Pics Videos 2013 Speech Awards Hollywood Ideas

Jennifer Lawrence Oscars.Jennifer Lawrence Winters.Jennifer Lawrence Latest News.Jennifer Lawrence Photos.Jennifer Lawrence Pics.Jennifer Lawrence Videos.Jennifer Lawrence Oscars 2013.Jennifer Lawrence Speech.Jennifer Lawrence Oscar Awards.Jennifer Lawrence Hollywood.Jennifer Lawrence Ideas.

Jennifer Lawrence apologizes for missing out director in Oscars speech 

Jennifer Lawrence has apologised to her 'Silver Linings Playbook' director David O Russell and producer Harvey Weinstein for forgetting to thank them in her Best Actress Oscar acceptance speech.

Jennifer Lawrence Oscars 

The 22-year-old star was visibly nervous onstage after she tripped on her way to accept the trophy and in the ensuing embarrassment and excitement, she left out these two names.

Lawrence, however, issued a statement to properly thank her director and producer, the Entertainment Weekly reported.

"David O Russell: Thank you for the most incredible experience of my life. Thank you for your genius, for your guidance, for teaching me things about myself and nurturing me to be a better actor," she said in a statement.

Jennifer Lawrence Oscars Award

Addressing Weinstein, co-chairman of The Weinstein Company, she said, "You championed this movie and its story from early days. Your passion and unyielding support gave this film the opportunity to thrive and touch so many people."

"Obviously it was not on purpose, I couldn't remember what I had already said and my mind went completely blank – your brain does funny things during the most overwhelming moment of your life!."

Oscars: Jack Nicholson, Jennifer Lawrence cross paths, charmingly

After a mutual-praise exchange that had Lawrence gushing about loving "all" of Nicholson's movies, he began to take his leave.

"You look like an old girlfriend," Nicholson told her as he walked away.

"Oh, really? Do I look like a new girlfriend?" she joked back.

"I thought about it," he said suavely.

"Oh, my God!" she said after she thought he'd left, face crashing into her hands. "Is he still here?" she asked Stephanopoulos.

"I'll be waiting!," Nicholson said, popping back into the picture with his trademark shades on.

"Oh, my God. I need a rear-view mirror!" she exclaimed.

Jennifer Lawrence 

For all of Lawrence's regular-girl realness over the course of awards-season interviews, this may have been the realest reaction audiences have seen from the 22-year-old actress — or at least the biggest.

"I was going to ask you what are you going to remember about tonight," Stephanopoulos said with a laugh.

"That!" Lawrence pronounced, smiling broadly and gesturing Jack's way with her thumb. "That!"

It was her first time meeting the screen legend, she said.

As if we couldn't tell.

Two Hollywood A-listers both won major Academy Awards on Sunday but had remarkably different nights. One could do no right (Anne Hathaway) and one could do no wrong (Jennifer Lawrence). Peter Scowen explores a tale of two Oscar winners

Memorabilia dealer Nate D. Sanders put the skin-tight white dance pants, winter coat and sports bra Lawrence wore in the film up for sale in the online auction that will end on Thursday.

The items are expected to fetch between $500 and $1,500 following the 22-year-old's Best Actress win on Sunday.

"She's now on the record for having an Academy Award, which definitely gives it (the items) status now," said Laura Yntema, spokeswoman for auction house Nate D. Sanders.

"The Hunger Games" star also won awards from the Golden Globe and Screen Actors Guild in January for her "Silver Linings Playbook" performance.

Five items, either worn by Lawrence or from her wardrobe on the film, are up for auction with starting bids at $100.

Jennifer Lawrence Photos

They include the custom-tailored skin-tight white pants Lawrence wore during the film's climactic ballroom dance scene with co-star Bradley Cooper.

The black, full-length double-breasted Moda International wool coat is a size six. The teal sports bra by Gap Body will be sold together with an extra-small blue Threads 4 Thought long-sleeved shirt.

The auction also has nine clothing items either worn or from the wardrobe of Cooper, and two items from the wardrobe of supporting actor Chris Tucker.

Movie studios often hand off costumes to auction houses, where even small outfits can fetch high prices from fans and collectors.

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Kai po che Movie Complete Review Latest News Songs Photos Pics Videos Cast & Crew Ratings

Kai po che Movie Complete Review.Kai po che Latest News.Kai po che Songs.Kai po che Photos.Kai po che Pics.Kai po che Videos.Kai po che Cast & Crew.Kai po che Movie Ratings.Kai po che Direction.Kai po che Actors.

Kai po che!
Actors: Amit Sadh, Sushant Singh Rajput, Raj Kumar Yadav

Direction: Abhishek Kapoor
Rating: 3.5/5

Kai Po Che! is a moving portrait of friendship, loss, forgiveness. Working from Chetan Bhagat's best-seller The 3 Mistakes of My Life, co-writer 

and director Abhishek Kapoor lovingly constructs camaraderie so deep and abiding that you know it must be splintered. Ishaan, Govind and Omi, three middle-class boys in Ahmedabad, are swept away by currents beyond their control. Great horrors unfold and yet, when the deeds are done, a sense of redemption remains.

Kai po che Movie 

The story begins with the three -Ishaan played by Sushant Singh Rajput, Govind played by Raj Kumar Yadav and Omi, played by Amit Sadh - embarking on their first business venture, a sports shop with coaching facilities. Ishaan was an aspiring cricketer but like thousands of boys in India, his talent was lost in the maze of selectors and politics. He morphs into a hot-tempered but unusually generous coach. Govind, the cautious and brainy one, keeps a strict eye on the finances - the other two call him baniya. And the loutish but unquestioningly loyal Omi, serves as the financer. He manages to routinely extract money from his uncle who is a political leader in a right-wing Hindu party. Ishaan's star pupil is a scrawny Muslim boy. We are a few months away from the Gujarat riots. You know that no good can come out of this.

Kai po che Movie Complete Review

Abhishek Kapoor's biggest accomplishment is that he and his writers have created three-full bodied characters - these boys with their towering ambitions and aching vulnerability, are people you and I know. And then, most critically, he has also found three wonderful actors who inhabit the characters wholly. Sushant, Raj Kumar and Amit become Ishaan, Govind and Omi. Their lack of stardom works in their favour (though I'm fervently hoping that post release, each one becomes a sought-after star). We believe them. We partake in their joys and struggles. Kai Po Che! is beautifully shot by Anay Goswamy but it's not glossy. You can almost feel the sweat and dust of the narrow lanes. And the icing on the cake is the song Manjha by composer Amit Trivedi (who has also sung it) and lyricist Swanand Kirkire. It has a sweet melancholy that reminded me of Kirkire's other gem, Baanwara Mann (from the 2003 film Hazaaron Khwaishein Aisi).

Kai po che Movie Photos 

What doesn't work as well is the screenplay. There are stretches in which the film slows down enough to make you restless. In places, the narrative is jerky and not fully convincing - the boys recover from a big financial blow with little stress. I also found the Gujarati dialogue a little distracting. Kapoor's portrayal of the Gujarat riots doesn't lacerate you like Rahul Dholakia's Parzania or Nandita Das' Firaaq. This version is far more comforting and palatable. But perhaps that is not such a bad thing.

Kai Po Che! is Gujarati for "I've cut". It is used as a cry of victory in kite-flying contests. Here victory is hard-earned and tinged with tears and regret. But it's also deeply satisfying. 

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