Business

DRT had reserved its order after hearing the submissions made by both parties - bankers and Mallya - on March 4.

The SBI has filed three other applications including one seeking arrest of Mallya and impounding of his passport, as the bank approached DRT seeking action against him for defaulting on loans.

The domestic unit resumed higher at 67.40 per dollar as compared to Wednesday's closing value of 67.54 at the Interbank Foreign Exchange market and kept the momentum going.

The broader NSE Nifty retook the 7,400-mark on Thursday. Finance Minister Arun Jaitley has chosen to maintain fiscal discipline in the Budget by limiting deficit target to 3.5 per cent of GDP for 2016-17.

The 30-share Sensex, after a gap-up opening, rallied further and closed the session higher by 463.63 points, or 1.95 per cent, at 24,242.98 -- its highest closing since February 8.

While speaking at the 'CNBC-TV18 Mint Budget 2016 The Verdict', he said the other areas which needed attention were public investment and infrastructure and the government has done a lot on both these fronts.

The Budget for 'Swachh Bharat Abhiyan’ has earmarked Rs 9,000 crore for rural areas, while Rs 2,300 crore for the urban areas.

The Budget has provisioned for financial support of Rs 428.91 crore for loss making telecom firm MTNL in 2016-17.

Jaitley also announced that abolition of permit law will be our medium-term goal in public transport.

Krishi Kalyan Cess will be levied on all taxable services at the rate of 0.5 per cent with effect from June 1, 2016.

With the party working overtime to shake off opposition's criticism of Modi government over its alleged corporate bias and overlooking of rural India, Shah asserted that this is the first budget since Independence that has focused so much on "villages, fa...

In his budget speech, Finance Minister Arun Jaitley proposed to raise the cess on coal, lignite and peat.

Unveiling the Union Budget in Parliament on Monday, Finance Minister proposed to support exporters in order to boost overseas shipments.

The Delhi HC dismissed petitions of telecom operators seeking quashing of TRAI's regulation making it mandatory for cellular operators to compensate subscribers for call drops.

According to the survey, out of 10.5 million new jobs created between 1989 and 2010, only 3.7 million-about 35 percent – were in the formal sector.