After getting periodic extensions, the 14-year-old tax-refund scheme is finally coming to an end in June.
The victory of the Congress and its allies in three out of five states may make it easier for the United Progressive Alliance government to move forward on the Goods and Services Tax.
Analysts believe engineering exports would soon dominate the country's foreign trade, thanks to a conscious policy shift towards building strength and capitalising on critical industries such as engineering and chemicals.
To better track generation of black money in the system, the finance ministry is planning to streamline third-party information provided on high-value transactions.
The finance ministry is also collating the data on entire food supply chain to identify the bottlenecks in the process.
While Pakistan has been showing considerable interest in having a bilateral trade deal with India that would help them access the country's booming markets, India has stated this can only become a possibility only when it recognises India as their non-discriminatory trading partner, commerce secretary Rahul Khullar told in an interview.
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs).
Ministry wants to take views of industry on the issue, before giving its opinion to the Securities & Exchange Board of India.
French auction was tried for two issues - NTPC Ltd and Rural Electrification Corporation - in 2009-10.
Says it is worried a general pardon will send wrong signal
The India-Asean free trade agreement (FTA) in merchandise goods has failed to realise its full potential, even as the deal was implemented in January 2010 to facilitate greater trade in the region. As a result, reduction of duties on several products might get delayed.
It is now clear that the revised takeover code and the Bimal Jalan committee report will not be implemented soon and in the same form, since the finance ministry wants to seek industry views on these two sets of recommendations this month, before the market regulator could take a decision.
In the Budget for 2011-12, the government revised the tax mop-up target for 2010-11 to Rs. 4.46 lakh crore for direct taxes and Rs. 3.36 lakh crore for indirect taxes.
Finance ministry has halved the tax rate on foreign dividend from 30 per cent to 15 per cent, but the rebate is allowed only for the financial year 2011-12.
The Bill's 2007 version covered only MFIs not regulated by the Reserve Bank of India.
Economic Affairs Secretary R Gopalan, who retains charge of financial services, has shown an ability to grasp ground realities in pushing critical reforms.
Even as some government departments have raised concerns on the Bill in its present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.
The US has emphasised on the need for an "ambitious and balanced outcome", even as the World Trade Organization (WTO) is gearing up to circulate another set of texts to push all its 153 members to wrap up the Doha Round of global trade talks by the end of this year.
FDI is essentially long-term investments that come with added benefits such as better technology, management and marketing assistance, says the study.
The revised version of the FDI policy, which will be released on March 31, is expected to do away with Press Note 1, 2005, to bring in the above-mentioned change.
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