Union Budget 2011 -2012 Highlights PDF uploaded .
The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget has to be passed by the House before it can come into effect on April 1, the start of India’s financial year. Former Finance Minister Morarji Desai presented the budget eight times, the most by any.
Until the year 2000, the Union Budget was announced at 5 pm on the last working day of the month of February. This practice was inherited from the Colonial Era, when the British Parliament would pass the budget in the noon followed by India in the evening of the day.
It was Mr.Yashwant Sinha, the then Finance Minister of India in the NDA government (led by BJP) of Atal Bihari Vajpayee, who changed the ritual by announcing the 2001 Union Budget at 11 am.
Budget 2011-2012 – see it live as it happens through this link.
Will update with the recorded link soon.
We all saw thwe market enjoyed the advance tax payment info and reliable sources say these as the story.
>M&M paid an advance tax Rs 112 crore vs Rs 17.5 crore in the previous quarter.
>TCS it was Rs 220 crore vs Rs 53 crore (QoQ).
>SBI’s advance tax figures stood at Rs 1,832 crore vs Rs 1,068 crore (QoQ).
>RIL’s advance tax figures were Rs 1157 crore vs Rs 314 crore (QoQ).
>Tata Motors paid advance tax of Rs 100 crore in the second installment, much higher than Rs 19 crore last year
>Bank of Baroda paid Rs 412 crore compared to Rs 255 crore
>Yes Bank paid Rs 58 crore as against Rs 33 crore
>BPCL paid 312 crore rs against 40 crore.
>Lupin paid Rs 49.7 crore respectively as against 11.4 crore.
>Ambuja Cements paid an advance tax of Rs 150 crore for the July-September quarter vs Rs 70 crore in the previous quarter.
Advance Tax Payment information was announced yesterday and its not as expected .
> State Bank of India Paid advance tax of Rs 1,810 crore.
> Bank of Baroda paid Rs 280 crore,
> HDFC Bank paid Rs 275 crore,
> Dena Bank paid Rs 75 crore and
> IndusInd Bank paid Rs 26 crore.
> In foruth Qtr Indian Oil Corporation’s (IOC) paid Rs 150 crore,
> Reliance Industries’ at Rs 370 crore
> Larsen and Toubro’s at Rs 245 crore.
> LIC Housing Finance Ltd, paid Rs 245 crore.
Advance Tax info kind of boosted the market today and for everypne it was kind of surprice you can see the numbers below to feel it .
Advance Tax paid by Bluechips
ICICI Bank Paid Rs 470 crore compared to 500 crore previous year.
Reliance Industries Ltd’s paid Rs 440 crore compared to Rs 546 crore previous year
I know this two was kind of less compared to previous.
> State Bank of India paid 1,700 crore rs compared to Rs 1,088 crore previous year.
>HDFC paid 279 crore rs compared to Rs 215 crore in previous year.
When i say previous year its previous year december ending QTR and not the whole year.
Today the global turmoil was not only the reason but also the advance tax info that was out was not really good for every company for example if we see from the info that’s floating around the web .
September 2008 Quarter Advance Tax Details
>Reliance industries paid only 683 crore compared to 650 crore in September 2007.- Disappointing
>ICICI Bank Paid 575 crore compared to 450 in September 2007
>SBI Paid like 50 percent more than September 2007 from 1050 to 1560
> HDFC from 200 to 290 crore in September 2008.
>Ambuja cement infact less than 2007 September from 200 to 175 crore.
> IDBI from 3 to 20 crore in September 2008.
>Videocon from 20 to 25 crore in September 2008.
>Wockhardt was disappointing it paid only 2.5 crore compared to 10 crore in September 2007.