A day after BRICS (Brazil, Russia, India, China and South Africa) nations agreed on a $100-billion foreign currency reserve pool to tackle the volatile foreign exchange markets, India on Friday said the pool would act as a buffer arrangement, adding it might not withdraw anything from this reserve.
India says it gives equal treatment to foreign companies on tax matters, not special consideration.
A cut in government spending would come at the cost of growth.
Many economists say only a substantial rise from October would point to a real recovery.
The stock and foreign exchange markets have had a negative reaction to the government's biggest social security programme, the National Food Security Bill. Food minister K V Thomas questions the rationale behind such a response
The World Bank would provide loans to India at higher than its existing concessional rates but lower than the market rate.
.jpg)
Amid fears of a downgrade from ratings agencies, the finance ministry is gearing up for a visit of Japan Credit Rating Agency officials on September 6.
.jpg)
Cabinet likely to pave way for the 'super-rich' tax today.
Officials are relying on both formal and informal methods for reaching non-filers.
Finance ministry asks bank, insurance & market regulators to issue notifications
Officials asked what the point was in going through banks when the government has to give guarantees.
However, worries on inadequate import and issues for the FTA pacts.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
The rise in illegal imports of the yellow metal has caught the eye of the finance ministry.
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
In 2012-13, the Centre managed to cut fiscal deficit to 4.9% of GDP, lower than the Budget revised estimates of 5.2%
Disgruntled executives are already pinning hopes on the new banks, too.
.jpg)
With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
Despite the recent Western criticism on Bangladesh's labour standards, India has a long way to go before it overtakes the neighbour in global exports.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances