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Govt to set up committee on climate change

New Delhi, Feb 28 (UNI) The Finance Minister, Mr P Chidambaram, while presenting the Budget proposals in the Lok Sabha today, informed the House that the Government has proposed to appoint an expert committee to study the impact of climate change on India and identify the measures which might have to be taken in the future.

Mr chidambaram said this as the country has taken steps to mitigate the Green House Gas (GHG) emissions and adapt to climate chnage impact as India is not a significant contributor to GHG emissions, nor would it be so in the foreseeable future.

The Minister further stated that India has also strongly promoted the clean development mechanism under the Kyoto Protocol and has the world's larges number of CDM projects. However, India is among the countries more vulnerable to climate change, he said.

UNI

Defence allocation enhanced to Rs 96,000 crore

New Delhi, Feb 28 (UNI) Finance Minister P Chidambaram today increased the allocation for defence to Rs 96,000 crore. While presenting the Budget proposals for 2007-08 in the Lok Sabha, the Minister stated that this would include Rs 41,922 crore for capital expenditure. He said any additional requirement for the security of the nation would be provided. UNI.....

How Rupee comes and goes

New Delhi, Feb 28 (UNI) Of the every rupee that comes from the government exchequer, Corporation Tax accounts for the maximum with 21 paise, followed by Borrowings and Other Liabilities (19 paise, Excise (17 paise), Income Tax (12 paise) and Customs (12 paise). Non-tax revenue contributes 10 paise, Servive Tax and Other taxes 7 paise and Non-debt Capital Receipts 1 paise. In other words, receipts account for 81 paise and borrowings 19 paise for the every rupee that comes from the.....

Cigarettes to cost more: mouth fresheners less

New Delhi, Feb 28 (UNI) Specific rates of excise duty on cigarettes are proposed to be increased by about 5 percent in the 20007-08 budget. Presenting the General Budget 2007-08 in the Lok Sabha today, Finance Minister P Chidambaram also proposed a raise in excise duty on bidis from Rs 7 to Rs 11 per thousand for non-machine made bidis and frs Rs 17 to Rs 24 per thousand for machine made bidis. Mr Chidambaram has reduced the excise duty from.....
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