European countries are trying to woo back the Indian customers they had lost following seizure of drug consignments by Customs authorities of several European Union members.
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.
FDI is essentially long-term investments that come with added benefits such as better technology, management and marketing assistance, says the study.
The move comes after international studies revealed that Gatifloxacin posed 17 times higher risk of developing serious hyperglycemia than other antibiotics in elderly patients.
"There is a lot of opposition from the garment industry, but we are not in favour of a complete rollback of the duty. We understand their concerns and will try to address these. We may simplify some procedures for them," said a finance ministry official.
As a step towards the proposed Goods and Services Tax (GST), the finance ministry plans to come up with a discussion paper on a negative list for services by the end of the next month.
A lot of global products are yet to be launched in the country. In the last eight months, we have launched six products from our global product portfolio.
The new limits for filing appeals by the Income Tax department before the Income Tax Appellate Tribunal (ITAT), high courts and the Supreme Court have been revised to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh, respectively, from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh.
The Bill - to centrally regulate microfinance institutions (MFIs) - may also cap the rates charged by these institutions or limit margins, that is, the difference between the rate charged from the borrower and the lender's cost of funds.
We thought if tax rates were not increased, manufacturing units would have more profits and that would be further invested in growth. Automatically, with growth, taxes go up.
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
The National Stock Exchange and the Bombay Stock Exchange have given their in-principle approvals for collecting stamp duty.
There will be capital gains tax of 20 per cent with indexation.
India may have to abide by a series of international standards and regulatory practices in the healthcare sector, if it agrees to some proposals that are part of the ongoing India-EU Free Trade Agreement (FTA) negotiations.
If implemented, the measure would have choked the availability of funds for real estate firms and infrastructure companies, which typically have several layered subsidiaries.
A finance ministry official said since the service tax was capped at Rs 100 for domestic and Rs 500 for international travel, in many cases, the credit of tax paid on inputs used to provide services was more than the service tax paid by the airline.
G-20, the grouping of developed and emerging market economies, will focus on food security but issues concerning India like rising prices of vegetables may not come up for discussions at a meeting in Paris next week.
The letters were meant to assess if there had been any professional misconduct by any auditors of Reliance Infra and Reliance National Resources Ltd that led to the alleged misrepresentation of investments by these companies.
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