The central government has for the first time allowed a private company, Bajaj Healthcare, to process opium to extract alkaloids used to make pain-killers, cough syrups, and even cancer drugs. Two government factories in Ghazipur, Uttar Pradesh, and Neemuch, Madhya Pradesh, do the work yet, processing some 800 tonnes of opium gum annually to extract alkaloids. The government on Tuesday gave Thane-based Bajaj Healthcare an initial contract to process 500 tonnes of opium gum annually and wants production to be at 800 tonnes per annum (tpa) in the next five years, indicating the state's exit from the highly-regulated sector.
A senior Central Board of Direct Taxes official told Business Standard the Income Tax department had decided to intensify its vigil on the non-payment of TDS on interest earnings and non-disclosure of such income in the tax return.
While Brijlal Khabri, former BSP MP from Jalaun, is UP Congress Committee chairman, former UP cabinet minister and Mayawati's once close confidant Naseemuddin Siddiqui heads the party's state media department. Completing the ex-BSP troika, Nakul Dubey, former UP cabinet minister in the Mayawati dispensation (2007-12), is one of the six UP Congress regional presidents. He is reckoned among the most active of the three.
DoT, has decided that it will not cancel the GSM licences of dual-technology companies.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
PAC summons RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and Economic Affairs Secretary Shaktikanta Das.
The prepaid debit card by India Post would have a minimum value of Rs 1,000 and a maximum of
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
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.
Import curbs on Chinese panels and modules may help, but low demand and capacity remain problem areas, says Shreya Jai.
The government is at a "fairly advanced stage" of finalising a well-coordinated e-commerce policy and consumer protection rules, which will incorporate provisions of Open Network for Digital Commerce (ONDC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said on Thursday. "E-commerce rules and e-commerce policy will be congruent with each other... That exercise is at a fairly advanced stage," Singh told reporters. The remarks come on a day the number of daily transactions on the platform has gone up 500 times since the beginning of this year with the number of retail merchants added to its roster growing 40-fold.
The decision had been communicated to the department of telecommunications, a senior official of the department told Business Standard.
'What can a teacher do that ChatGPT cannot?'
Many industry executives have said the draft e-commerce policy is being perceived as nationalistic but not overly protectionist and it is providing preference to Indian players against foreign companies. This might have an impact on investment by large players such as Walmart and Amazon in the country, said the executives. They said e-commerce was a very small portion of the retail industry and at a nascent stage and did not require heavy hammer regulations. Though the policy talks about being equally applicable to foreign and domestic players, it mentions that foreign direct investment (FDI) takes precedence over the e-commerce policy in any area of overlap.
More than two decades after economic liberalisation, the government continues to play such a massive role in the economy and industry that the Budget has become a big-bang revenue-earning exercise for the media.
Earlier, the state tourism department had negotiated with the Indian Railway Catering and Tourism Corporation for working out the modalities of the luxury train. Apart from providing catering services, IRCTC will also be responsible for designing the interiors of the train.
Sun Network has shifted its regional news depts to respective state capitals and is also planning to shift its HQ, following a fallout with DMK party.
Officials have stated the finance ministry is also contemplating doing away with some of the key export promotion schemes, to check revenue leakage -- such as the advance licence scheme and export promotion capital goods scheme.
It is a tribute to a system so robustly meritocratic that this team represents India's diversity better than any other institution: The Union Cabinet, our chief ministers, the civil services, the leadership of our armed forces and security agencies, the judiciary and more than all of these, our typical newsroom. That is the biggest message from this breathless rise of Indian cricket, asserts Shekhar Gupta.
Computerisation of the Income-Tax Department has played a key role in raising tax compliance and higher tax collections over the past few years.
Provident fund body may get support to ensure interest rate comparable with other savings instruments.
Business Standard brings to you the many different numbers of crorepatis that are floating around.
The company has set an internal target of 6-18 months to set up the data centre. The plan is part of the $1 billion ByteDance has recently committed to the Indian market over the next three years.
The death of a 11-year-old boy due to 'bird-flu', even before the devastating effects of the second Covid wave have waned, has alarmed the medical fraternity though they assert that human-to-human transmission of H5N1 virus is extremely rare. The event has also put the Rs 90,000 crore domestic poultry industry which was seeing some uptick in demand after months of low sales last year into a spot of bother, as any curb on sale or production of eggs or chicken could have a devastating impact on its revenues. It is estimated that around 60 million people are directly impacted by the poultry sector in India. H5N1 virus, also commonly known as bird flu, is known to spread from chickens but other birds such as ducks and crow are also carriers of the virus.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
As the service tax department is probing the evasion of service tax on bulk discounts offered by the print media to advertising agencies
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
The broad idea was endorsed by the DoT's internal panel in its report on the Telecom Regulatory Authority of India's recommendations last year on spectrum management and other licensing issues.
The land acquisition, the consolidation process in Kot and a slew of other decisions by the Haryana government to open the hills to privatisation and commercial activity run contrary to court orders, environmentalists' demand, and at times the Union government's measures to protect the Aravalli hills, say Nitin Sethi & Kumar Sambhav Shrivastava.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
The government's plan to list state-run telecom major Bharat Sanchar Nigam Ltd will be delayed due to the company's mounting losses and high payout for 3G spectrum.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Central Board of Direct Taxes chairman Sudhir Chandra told Business Standard that the changes have been approved in principle and necessary instructions would be issued soon.
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