Private airport operators in the country on Wednesday said the government should bring aviation turbine fuel under the Goods and Service Tax (GST) Act and increase the duty-free allowances for incoming international passengers in this Budget.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
There are serious issues in the economy which need to be addressed
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
The central staff will now get 65 per cent of the basic pay as DA as against 58 per cent since July 1, 2011.
The Centre is looking to improve disclosures made by public sector undertakings (PSUs), and has asked such companies to share monthly progress made on capital expenditure targets and corporate social responsibility (CSR) initiatives undertaken by them. New details such as gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures. The Department of Public Enterprises (DPE), which publishes the Public Enterprises Survey and collects information for Memorandums of Understanding (MoUs) signed with PSUs, is looking to integrate data collected from government-owned companies.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
GST collections in March slipped below the psychological Rs 1-lakh crore mark for the first time in four months to Rs 97,597 crore as the COVID-19 lockdown that shut most businesses compounded tax collections in an already sluggish economy.
The department of post is planning to offer banking services by starting a full-fledged bank, to be named Post Bank of India.
Seeking to enhance green mobility, the Union Cabinet on Wednesday approved the 'PM-eBus Sewa' scheme under which 10,000 electric buses will be provided to 169 cities under the public-private partnership (PPP) model.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
India has evidence that social media platforms are being used to raise terror funds, NIA director general Dinkar Gupta said on Thursday, underlining that the issue will be deliberated during a two-day international ministerial conference on countering terror financing.
Air India's hopes of slashing 5,000 jobs through a voluntary retirement scheme (VRS) may be too ambitious, say experts and union leaders. The airline would need about Rs 700 crore to put the offer together, and it is yet to secure the finance ministry's approval for this.
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
New exchange will provide an electronic platform for trading.
Sources said there was no need 'immediately' to look into legal aspects or consider anything else (such as the possibility of political interests over the dismissal and a counter-strategy to frustrate it), as the dismissal was now on hold.
In a surprise development on July 2, the Sharad Pawar-led NCP split as his nephew Ajit Pawar and almost three dozen MLAs joined the ruling Shiv Sena-BJP alliance. Ajit Pawar and eight other NCP leaders were sworn in as ministers.
Apple sought exemption from mandatory local sourcing of components for its products
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
The suspense over the possible composition of the National Democratic Alliance cabinet is nearly over.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
The Union government will limit its investigations to financial irregularities and tax violations by the Indian Premier League (IPL), its 10 franchisees, as well as the broadcaster. The government does not want to interfere in the functioning of existing sports institutions, a top functionary of the finance ministry said.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Many life insurance companies are yet to see a sharp spike in the sale of high-value policies as was widely expected in the aftermath of the government's decision to tax income from insurance policies having an aggregate premium above Rs 5 lakh in a year.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Union Commerce and Industries Minister Kamal Nath on Friday said he disagreed with the finance ministry on the controversial fringe benefit tax, saying the tax laws should be made simpler.
The government has identified nine key focus areas in the AI national programme, including agriculture, education, Indian languages, smart cities, cybersecurity, transportation, and finance.
Prime Minister Narendra Modi on Friday chaired a meeting to discuss the preparations for launching Doordarshan's 'Kisan TV' on May 26, to coincide with the first anniversary celebrations of the National Democratic Alliance government.
Kaushik Basu, chief economic advisor in the finance ministry, said, "All I can say is, we are very serious about fiscal consolidation, and intend holding on to our fiscal targets, even if the crude price rises on a sustained basis."
