Growth is coming from sectors which are interest rate-sensitive, says D Subbarao.
For developers who came out of a prolonged slowdown of 2008-09, the fund raising spree could be dangerous, say consultants.
The Central Board of Excise and Customs has put in place a comprehensive mechanism for verification and monitoring of exports made under various duty exemption or reward schemes.
The country's largest insurer had been keen to run a bank for a long time to manage the large premium collection and claim settlement work.
The Central Board of Excise and Customs (CBEC) has recommended amending the rules to widen the scope of levying service tax on the entertainment business.
Official sources said such norms form the benchmark of costing, which helps in working out the price of inputs required for manufacturing or producing a certain quantity of output.
The Income Tax Department has decided to scrutinise all returns filed by brokers and market players who seek rebate after paying the securities transaction tax (STT).
This follows a renewed effort by CBDT to seek clarification on the issue.
The Central Board of Excise and Customs (CBEC) has recommended an overhaul of the Special Economic Zone (SEZ) Act 2005 saying it has detected gross violations of duty and tax concessions causing it to suffer a revenue loss of Rs 1,75,000 crore to date.
The Central Board of Direct Taxes has suggested to income tax departments across the country to go slow on refunds for at least a fortnight.
The process has been suspended for the time being as Agriculture, Food & Consumer Affairs Minister Sharad Pawar, a political heavyweight, is opposed to any intrusion into his turf.
The high level coordination committee on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.
With the Reserve Bank of India allowing retired teachers, kirana shop owners and public call office (PCO) operators to be hired as business correspondents, banks are set to hire over 200,000 people over the next few years to push financial inclusion initiatives.
The Income Tax (I-T) Department has decided to put an end to the contentious issue of taxation of deemed dividend or inter-company loans given to common shareholders of unrelated companies. The department proposes to amend the I-T Act in this regard.
Official sources say scrutiny of returns filed by companies, brokers and individuals active in the stock markets and in possession of shares revealed wide use of this mechanism to evade tax.
Vedika Bhandarkar, managing director & head of investment banking, recounts how even in a supposedly bad year, the bank raised about Rs 1,00,000 crore (Rs 1,000 billion).
This follows a renewed effort by CBDT to seek clarification on the issue.
The Ministry of Corporate Affairs (MCA) has worked out new parameters for scrutiny of companies. These are based on reports on the Satyam fraud investigation.
Move aimed at expediting projects undertaken in collaboration with foreign technology providers
The Ministry of Corporate Affairs wants to shed its stern regulatory image and acquire a gentler, corporate-friendly reputation. The new mantra is to be a facilitator in corporate growth instead of just another regulator.
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