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The Prime Minister Narendra Modi-led government will present the union budget for 2016-17 on February 29. 
 
The pre-budget consultations are being also held in a bid to formulate policies. 
 
Meanwhile, the National Association for Software and Services Companies (NASSCOM) says direct and indirect taxes hurt startups and the industry body has asked for tax exemptions for startups. 
 
NASSCOM, in pre-budget recommendations, has asked the finance ministry to weed out taxes, including minimum alternative tax, angel tax as these hurt startups. 
 
"Policy regulations like ease of compliance, reliance on self-certification instead of audits, tax exemptions for startups will allow entrepreneurs to devote their time, energy and resources to build upon their innovative ideas," said R Chandrashekhar, president of NASSCOM. 
 
The industry body also wants exemption from capital gain tax on income from sales of startups.

India to present Union Budget on Feb 29

The <keyword id="6358021" type="ORGANIZATION" weightage="20" keywordseo="budget">Budget</keyword> session of <keyword id="6354721" type="ORGANIZATION" weightage="20" keywordseo="parliament">Parliament</keyword> will commence from January 29, with Union Finance Minister Nirmala Sitharaman set to present the <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> on February 1. The session will be held in two parts -- from January 29 to February 15 and March 8 to April 8. The 5th session of the 17th Lok Sabha will have 35 sittings -- 11 in the first part and 24 in the second part. President Ram Nath Kovind will address both Houses of Parliament -- the Rajya Sabha and the Lok Sabha -- at 11 am on January 29. Sitharaman will present the Union Budget at 11 am on February 1. Parliament will adjourn on February 15 to enable various Standing Committees to consider the Demands for Grants of Ministries/Departments and prepare their reports, and reconvene on March 8.

Budget session of Parliament to start on January 29 – Finance Minister Nirmala Sitharaman to present the Union Budget on February 1

Finance Minister Arun Jaitley left industrialists, economists and commentators on a high note as they cheered the Budget 2016-17. 
 
They lauded the finance minister for a pro-farmer budget, also leaving a multiplier effect on the economy. Many experts said the budget was in line to what they expected and importance to fiscal discipline was also welcomed. 
 
Even the startup founders were excited about no tax for first three years. 
 
Here’s what the experts have to say: 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Prompt words for businessmen to use today for <a href="https://twitter.com/hashtag/Budget2016?src=hash">#</a><a href="https://twitter.com/hashtag/Budget2016?src=hash">Budget2016</a>-great, fantastic, all-round impetus, path-breaking, boosting economy, balanced, 👏.
	— Harsh Goenka (@hvgoenka) <a href="https://twitter.com/hvgoenka/status/704220915349848064">February 29, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		All major CII recommendations have been covered in <a href="https://twitter.com/hashtag/Budget2016?src=hash">#Budget2016</a>.~Sunil Munjal, Chair, Hero Corporate Service Limited <a href="https://t.co/dRnKw5QXaR">pic.twitter.com/dRnKw5QXaR</a>
	— CII (@FollowCII) <a href="https://twitter.com/FollowCII/status/704208144566595584">February 29, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		In summary, despite our disappointment on the tax on cars, I see no reason for the mayhem in the market.
	— anand mahindra (@anandmahindra) <a href="https://twitter.com/anandmahindra/status/704206242928074752">February 29, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		The need of the hour, both to revive consumption &amp; to preserve the social fabric of the country, was to focus on the farm ecosystem
	— anand mahindra (@anandmahindra) <a href="https://twitter.com/anandmahindra/status/704206350121897984">February 29, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Big effort to one time clean up past tax issues and one time amnesty <a href="https://twitter.com/hashtag/Budget2016?src=hash">#Budget2016</a> <a href="https://twitter.com/hashtag/UnionBudget2016?src=hash">#UnionBudget2016</a>
	— Sumant Sinha (@sumant_sinha) <a href="https://twitter.com/sumant_sinha/status/704201417804742656">February 29, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		FM sticks to fiscal deficit target of 3.5%! Exactly my views and glad to see the fiscal prudence <a href="https://twitter.com/hashtag/Budget2016?src=hash">#Budget2016</a>
	— Sumant Sinha (@sumant_sinha) <a href="https://twitter.com/sumant_sinha/status/704193439592640512">February 29, 2016</a></blockquote>
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Incredible and necessary win for Aadhar in today's budget ! Cheers &amp; Kudos to <a href="https://twitter.com/India_Stack">@India_Stack</a> and <a href="https://twitter.com/NandanNilekani">@NandanNilekani</a>
	— Vijay Shekhar (@vijayshekhar) <a href="https://twitter.com/vijayshekhar/status/704235493169299456">February 29, 2016</a></blockquote>
(Image: Indiatimes)

Industrialists, economists laud FM, positive that India will take a leap forward

<keyword id="2783177" type="UNKNOWN" weightage="100" keywordseo="Budget-2016">Budget 2016</keyword> is less than a month away, and for Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, the road ahead, to redefine India's infrastructure, has become tougher. 
 "There are businesses that we have been in and the investments we are talking about are strategic investments. Idea for example will launch even more aggressively its 4G service. Our retail business will continue to aggressively expand so it is not so dependent on what is happening in the global economy. I think that the government needs to focus on infrastructure and I am hoping that coming Budget will accelerate very significantly the allocation for urban infrastructure," <keyword id="423824" type="UNKNOWN" weightage="100" keywordseo="KM-Birla">KM Birla</keyword>, chairman of <keyword id="44373" type="CITY" weightage="100" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, told ET. 
 
While the Railway Budget comes out on February 25, the Eco Survey would be presented on February 26 and Union Budget on February 29.

KM Birla thinks budget 2016 needs to reboot infrastructure

The grand spectacle of the business world is upon us this February. We're just two weeks away from <keyword id="6355261" type="POSITION" weightage="100" keywordseo="Finance-minister">Finance Minister</keyword> Arun Jaitley launching the <keyword id="3206186" type="UNKNOWN" weightage="100" keywordseo="Union-Budget-2016">Union Budget 2016</keyword> on February 29. 
 
A lot of hopes and expectations are pinned on this year's budget with it being hailed as a momentous one that will set the ball rolling for the path towards India attaining great heights! 
 
But, there's also another side to it- that is the dull and difficult to understand jargons that accompany the Budget season. 
 
But, fret not. That is a thing of the past for now. 
 
In a bid to simplify the happenings of the Budget, we at Business Insider made an exclusive video to help demystify the meaning behind five jargons that are bound to be used in plenty on February 29 from the newspapers, social media to TV. 
 
Watch our guide and stop feeling like you understand nothing anymore!

WATCH: Ahead of Budget 2016, we decode the top 5 jargons for you!

India’s national carrier, <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword>, has asked for Rs 4,270 crore in upcoming <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword>, Rs 970 crore extra due to depreciating rupee value. The <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword> will be announced on February 29. 
 
The government also plans to put in Rs 30,231 crore till 2020-21. 
 
As part of its turnaround plan, Air India will hire 1500 employees, including 500 pilots.

Air India wants Rs 4,270 crore sanctioned in Budget 2016 as growth plan

New Delhi [India], July 24 (ANI): A <keyword id="4261957" type="General" weightage="20" keywordseo="general-discussion" source="Orion">general discussion</keyword> on the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> and the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be held in the <keyword id="19895369" type="General" weightage="100" keywordseo="Rajya-Sabha" source="keywords">Rajya Sabha</keyword> later on Wednesday. <keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented both the Union Budget and the <keyword id="22525621" type="General" weightage="20" keywordseo="Jammu-and-Kashmir-Budget" source="keywords">Jammu and Kashmir Budget</keyword> in the House on July 23. The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively. The Union Budget outlines the government's revenue and expenditure plans for the upcoming fiscal year, while the budget for the Union Territory of Jammu and Kashmir is a significant event considering the developmental needs. As per the list of businesses of the Rajya Sabha, the discussion on these two budgets will be convened later in the day. The discussion over these two budgets is expected to start in the second half of the day. According to the list of business of the Rajya Sabha, the ministers that are set to lay the papers on the table are Jayant Chaudhary for the Ministry of Education; Pankaj Chaudhary for the Ministry of Finance; Nityanand Rai for the Ministry of Home Affairs; and Sukanta Majumdar for the Ministry of Education. Besides, Rajya Sabha Secretary General PC Mody will lay on the table the Public Accounts Committee reports. This includes the 124th Report on Construction of Toilets in Schools by CPSEs; the 125th Report on Rejuvenation of the Ganga (Namami Gange); the 126th Report on Avoidable Payment due to Non-Charging of Service Tax/GST from the Passengers; and the 127th Report on Action Taken by the Government on the Observations and Recommendations of the Committee contained in their 46th Report (16th Lok Sabha) on Implementation of the Public-Private Partnership Project at Chhatrpati Shivaji International Airport, Mumbai, among others. The reports were presented to the Speaker on February 23 and April 29, 2024, and to the Chairman, Rajya Sabha, on February 28 and May 13, 2024, before the dissolution of the 17th Lok Sabha. The Speaker had ordered the printing, publication and circulation of the reports. As per the business list of the Rajya Sabha, Union Minister for Parliamentary Affairs Kiren Rijiju will move the motion for election to the committee on the welfare of other backward classes. Kiren Rijiju will also move the motion for nomination to the committee on the welfare of scheduled castes and scheduled tribes. The motion for nomination to the committee on public accounts will also be moved by Union Minister Rijiju in the House today. Moreover, Kiren Rijiju will move the motion for nomination to the committee on public undertakings. Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on Tuesday during the Monsoon Session of <keyword id="19895397" type="General" weightage="20" keywordseo="Parliament" source="keywords">Parliament</keyword>. Nirmala Sitharaman became the first finance minister to present seven consecutive budget speeches, surpassing former prime minister Morarji Desai's record of six consecutive budgets as finance minister between 1959 and 1964. In her seventh budget, Nirmala Sitharaman outlined key priorities aimed at fostering economic growth and creating ample opportunities. These included productivity and resilience in agriculture, employment, and skilling and services. Prime Minister Narendra Modi on Tuesday hailed the Union <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> presented by Finance Minister Nirmala Sitharaman. "This budget strengthens every section of society. It takes the country's poor, village and farmers on the path of prosperity," the prime minister said in a video message. The Prime Minister praised the budget, emphasising its potential for job generation by incentivizing the top 500 companies to recruit more youth and also induct interns. The PM said the budget would help India achieve its objective of becoming the third largest economy, besides laying a strong foundation for Viksit Bharat. Union Home Minister Amit Shah on Tuesday also said the Union Budget 2024-25 is game-changing and will go down in history for coupling Bharat's economic growth with the torque of its youth power. He also lauded the government's decision to provide training and internship programmes to youth. The Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, welcomed the Union Budget 2024 laid before Parliament on Tuesday. Calling the Union Budget 2024 a 'visionary document', Sonowal said, "The Union Budget, 2024 lays the roadmap for renewed and holistic growth towards Viksit Bharat. This visionary budget is aimed at empowering the 'Garib' (poor), 'Mahilayen' (women), 'Yuva' (youth), and Annadata' (farmers) so that the process of development reaches every citizen of the country." Assam Chief Minister Himanta Biswa Sarma said on Tuesday that Union Budget 2024 stands out for its unprecedented push towards employment generation and powering small businesses.

Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget today

In order to protect the domestic steel industry, which is facing tough times, the <keyword id="109322" type="ORGANIZATION" weightage="100" keywordseo="steel-ministry">Steel Ministry</keyword> of India has pitched for addressing the inverted duty structure in the upcoming Budget. Not only this, they have also asked the Finance Ministry to raise the peak duty rate by 10%, which means that they want the present 15% duty to be raised to 25%. 
 
Finance Minister Arun Jaitley will present the Union Budget for the 2016-17 fiscal in Parliament on 29th February. 
 
If this proposal is accepted, it will be the second consecutive increase in the peak rate in two budget sessions, as the last budget had raised the peak customs duty from 10 to 15%. 
 
Earlier this month, the government had done a small bit to protect the steel industry when it had imposed a minimum import price (MIP) on 173 steel products ranging between USD 341 to USD 752 per tonne. 
 
Besides this, the government had also imposed provisional Safeguard Duty in July 2015 and had increased import duty on certain steel products to keep a check on steel imports. 
 
<a href="http://economictimes.indiatimes.com/photo/47175355.cms">Image source</a>

Budget 2016: Steel Ministry demands another rise in peek customs duty

New Delhi, The Modi government has called an all-party meeting on January 30 to hold discussions ahead of the presentation of the Union <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> in <keyword id="6354721" type="COMPANY" weightage="20" keywordseo="parliament">Parliament</keyword> on February 1. The Centre has invited leaders of all political parties in both the Houses to the proposed meeting slated to begin at 11.30 am through videoconference. Sources said the <keyword id="105903" type="COMPANY" weightage="20" keywordseo="National-Democratic-Alliance">National Democratic Alliance</keyword> parties too will meet on the same day. Parliament's Budget session will be held in two phseses amid all precautions against coronavirus -- from January 29 to February 15, and from March 8 to April 8. The all-party meeting will be chaired by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> and attended by Defence Minister Rajnath Singh, Home Minister <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword>, BJP's Rajya Sabha leader Thawarchand Gehlot, Deputy Leader Piyush Goyal, Parliamentary Affairs Minister Prahlad Joshi, Arjun Ram Meghwal and V Muralitharan. The one-hour Question Hour has been restored in the Budget session, which was suspended during the Monsoon session in September 2020 during corona pandemic. Lok Sabha Speaker Om Birla said on Tuesday that corona tests for members attending the Parliament session will be mandatory. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zoom-dropbox-backer-salesforce-ventures-makes-its-first-investment-in-india-in-hr-tech-startup-darwinbox-which-claims-to-have-grown-by-200-during-lockdown/articleshow/80341562.cms">Zoom, Dropbox backer Salesforce Ventures makes its first investment in India in HR tech startup Darwinbox, which claims to have grown by 200% during lockdown</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finance-company-hffc-is-set-to-launch-its-1153-crore-ipo-on-january-21/articleshow/80341439.cms?upcache=2">Warburg Pincus-backed Home First Finance Company to launch ₹1,153 crore IPO on January 21</a> <a href="https://www.businessinsider.in/international/news/top-ten-likely-global-risks-in-2021-according-to-the-world-economic-forum/slidelist/80346013.cms">From climate action failure to monopoly in the tech world — the world needs to wake up to these global risks in 2021, says the World Economic Forum</a>

Centre to hold an all-party meeting on January 30 ahead of Union Budget

As the Indian government wants to scale up PM Narendra Modi’s ambitious ‘<keyword id="2517872" type="UNKNOWN" weightage="20" keywordseo="Swachh-Bharat-Abhiyan">Swachh Bharat Abhiyan</keyword>’ and invest around Rs 2.23 lakh crore by October 2019, it may levy cess from the common man even to provide basic sanitation. 
 
The government is mulling over levying 0.5% cess on petrol, diesel and telecom services, a 1% cess on accumulated waste produced by mineral generation plants and a 0.5 percentage point increase in service tax. 
 If everything falls in place, this could be announced during <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword> on February 29. 
 
This recommendation was given by a sub-group of chief ministers on Swachh Bharat set up by Niti Aayog. 
 
"The sharing pattern of funds for this programme between the Centre and states may be in the ratio of 75:25, while for hilly states it may be kept at 90:10," said the sub-group. 
 Under the <keyword id="63500" type="UNKNOWN" weightage="20" keywordseo="Cleanliness-Drive">cleanliness drive</keyword>, the government wants to construct household toilets, community and public toilets and scientific waste management. 
 
(Image: Thinkstock)

Tax Alert! You could soon be paying cess for the Swachh Bharat Abhiyan!

Several members in a parliamentary panel have pitched for quick implementation of the Centre's proposed move to double salary and allowances of MPs and insisted that report of any government-constituted committee on the matter must be channelled through it. 
 

	At a meeting of the Joint Committee on Salaries and Allowances of Members of Parliament yesterday, a number of MPs favoured routing of report of any independent mechanism, being set up to review salary and allowances of MPs, through the panel, which draws its power from Parliament, sources said. 
 

	They said before the report is handed over to the government it should be vetted by the committee.
 

	The members also insisted their pay and perks should be equal to that of the Cabinet Secretary, they said. 
 

	The Centre had in September last proposed to constitute a three-member Emoluments Commission to determine salary and allowances of Members of Parliament and it was endorsed at the two-day All India Whips Conference on September 29 and 30.
 

	The proposal had come in the backdrop of a controversy over a parliamentary panel's recommendations in June last to double the pay and perks of lawmakers.
 The Joint Committee, headed by BJP MP <keyword id="43254" type="PERSON" weightage="20" keywordseo="Yogi-Adityanath">Yogi Adityanath</keyword>, in its meetings in May and July last year had opined that there was need for an independent system/mechanism for review of salary and allowances of MPs. The committee suggested that while considering enhancement of salary, parameters like <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword> and hike in the salary of government officials should be taken into consideration. The panel also asked the <keyword id="1352011" type="ORGANIZATION" weightage="20" keywordseo="Parliamentary-Affairs-Ministry">Parliamentary Affairs Ministry</keyword> to place before it the proposal. 

	The Ministry representatives yesterday told the panel that a cabinet note has been prepared for doubling salary and allowances of MPs.
 To this, the panel members asked them to place the note before the Union Cabinet soon for its early approval so the proposals become a reality in this <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword>. The Budget session of Parliament begins on February 23 and the Union Budget will be presented on Feb 29. 

	An MP gets a salary of Rs 50,000 per month. In addition, Rs 2,000 per day is paid as daily allowance when an MP signs the register while attending Parliament sessions or House committee meetings. An MP is also entitled to Rs 45,000 constituency allowance every month -- Rs 15,000 for stationery and Rs 30,000 to employ secretarial assistance staff.
 

	In their sitting on October 20 last year, the committee decided to enhance the amount of Constituency Allowance from the present Rs 45,000 to Rs 75,000, which required an amendment in rules.
 

	MPs are also entitled for government accommodation, air travel and train travel facilities, besides three landline telephone connections and two mobile phones. They also get a loan of Rs 4 lakh to buy a vehicle.

Double MPs' salary, allowances soon: Parliamentary panel members to government

Governor of Reserve Bank of India (RBI) Raghuram Rajan kept the repo rate and <keyword id="3228880" type="UNKNOWN" weightage="20" keywordseo="CRR-unchanged">CRR unchanged</keyword>. 
 Announcing the sixth bi-monthly monetary policy, Rajan said the central bank was still ‘accommodative’ and also looked forward to <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword> on February 29. 
 
Rajan said the budget needed to support growth and check spending. 
 "The Reserve Bank continues to be accommodative even as it leaves the policy rate unchanged in this review, while awaiting further data on the development of <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword>. Structural reforms in the forthcoming Union Budget that boost growth while controlling spending will create more space for monetary policy to support growth,” said Rajan. 
 
Rajan said the growth had also slowed due to several reasons including stalled projects and dampened exports. He also said the growth would gain momentum by the end of FY17. 
 
The central bank did not factor in the recommendations of the pay panel. 
 
Here are reasons why the RBI maintained status quo 
 
1. Economic activity: On the domestic front, Indian economic activity lost momentum in Q3 of 2015-16, pulled down by dampened agricultural and industrial growth. In the first two months of Q3 of 2015-16, industrial activity slowed due to weak investment. 
 
2. Weak monsoons: The north-east monsoon season ended in December with a deficiency of 23 per cent relative to the long period average (LPA). Rajan stated that rural incomes would continue to be supported by allied activities such as dairy and horticulture, which now contribute as much to <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> as food grains. “A good monsoon next year could pull the inflation down,” said Rajan. 
 
3. CPI inflation: The CPI inflation rose for the fifth month in December. The CPI inflation, excluding food and fuel, rose for the fourth successive month. 
 
4. Liquidity: The liquidity conditions tightened with advance tax outflows. Rajan said will use all liquidity instruments to ensure sufficient liquidity supply. 
 
5. Exports: Indian exports were in contraction mode for the 13th successive month in December. 
 
6. Global growth: The global growth had slowed. World trade has remained subdued and there were new lows in commodity prices and currency realignments. In the US, an improving labour market continues to support a consumption-led recovery. In the Euro area, core inflation and wage growth were subdued. In China, growth in Q4 of 2015 was the slowest since 2009, pulled down by manufacturing, residential investment and exports. EME commodity exporters confront recessionary conditions, falling currencies, sluggish exports and still high inflation relative to their recent histories.

6 reasons why RBI Raghuram Rajan maintained status quo

Ahead of <keyword id="6360189" type="COMPANY" weightage="100" keywordseo="Union-Budget">Union Budget</keyword> 2016 which Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> will announce on February 29, Indian power producers have proposed to the government a slew of tax benefits to incentivise investments in the sector. 
 
In a letter to the ministries of finance, coal and power Independent Power Producers Association of India (IPPAI) asked the government to extend a 10-year tax holiday to companies that start power generation by March 31, 2020. 
 
“Industry players have called for the extension of the sunset tax clause for power companies to include plants that provide power till March 2020 as opposed to 2017 earlier,” said the letter. 
 
The association has also asked for minimum alternate tax to be reduced to 10 per cent. With regards to coking coal, IPPAI has asked for reduction in customs duty on it. 
 
“Import duty of coking coal had been increased to 2.5 per cent in the Budget for 2014-15.” It said a negligible quantity of coking coal was available domestically, and therefore called for duty on it to be exempt. 
 
IPPAI has also contested the clean energy cess levied on thermal power producers asking that it should be restricted to only those power producers who do not adopt clean technologies / modernise their plants. 
 
Image credit: Indiatimes

Budget 2016: IPPAI bats in favour of tax incentives for power sector

New Delhi, Jan 22 () Stock markets will be open for normal trading on February 1, Saturday, when the Union Budget will be presented, according to a circular.
The stock markets are generally closed on Saturdays and Sundays, except for special circumstances.
Finance Minister Nirmala Sitharaman is to present the Budget on February 1. 
In a circular, BSE said the stock markets would open for trading on February 1, Saturday, on account of Union Budget for the financial year 2020-21.
Trading would be conducted during normal hours from 9 am to 3.30 pm.
According to markets sources, the decision has been taken following requests made in this regard by market participants as Budget contains several market-moving announcements.
In 2015, stock exchanges were open for trading on February 28, Saturday, when then Finance Minister Arun Jaitley had presented the Budget. 
Stock markets have always been open on normal timings since budget presentation timings were changed from 5 pm to 11 am in 2001. 
 
 
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India to present Union Budget on Feb 29

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Budget session of Parliament to start on January 29 – Finance Minister Nirmala Sitharaman to present the Union Budget on February 1

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Industrialists, economists laud FM, positive that India will take a leap forward

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KM Birla thinks budget 2016 needs to reboot infrastructure

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WATCH: Ahead of Budget 2016, we decode the top 5 jargons for you!

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Air India wants Rs 4,270 crore sanctioned in Budget 2016 as growth plan

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Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget today

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Budget 2016: Steel Ministry demands another rise in peek customs duty

Centre to hold an all-party meeting on January 30 ahead of Union Budget

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Tax Alert! You could soon be paying cess for the Swachh Bharat Abhiyan!

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Double MPs' salary, allowances soon: Parliamentary panel members to government

6 reasons why RBI Raghuram Rajan maintained status quo

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Budget 2016: IPPAI bats in favour of tax incentives for power sector

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Stock markets to be open on Budget day: BSE

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