The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.
The current H-1B minimum wage of USD 60,000 was established in 1989 and since then has remained unchanged.
New Jersey bill repressive: Phaneesh Murthy
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
Applying for a loan? Check if you've paid your telephone bill or insurance premium first. Soon, your loan proposals will not depend only on your credit card and debt payment record with banks but also on whether you've paid your phone bill, insurance premium and stock broker dues on time.
Collusion between ruling parties, corporate donations under Companies Bill is hidden. Environmental concerns made subservient to Cabinet Committee on Investment and regulatory agencies made toothless. Promotion of hazardous technologies for generating power from waste is anti-public health, say activist Gopal Krishna.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
On Thursday, the Bill was approved by the Rajya Sabha; once it receives the president's assent and is notified, it will replace the legislation in force currently, which dates from 1956.
Tata Consultancy Services is planning to raise the billing rates by 3 to 5 per cent for existing contracts, which are up for renewal, and for new contracts by 5-10 per cent.
Pilot was there at the right place at the right time to take home the Bill.
Strange souls see a research report on an Indian conglomerate as part of a vast conspiracy to Keep India Down. There is only one possible response to this: Grow up. Nobody in the West cares enough about India or Adani to put all the effort into creating a giant conspiracy that links together BBC documentaries and short-sellers, points out Mihir S Sharma.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
Several Indian companies might have to set aside 2 per cent of their average net profits during the preceding three years to meet corporate social responsibility (CSR) spending requirements. A parliamentary standing committee on finance, which vetted the Companies Bill, 2009, said in its report that the ministry of corporate affairs has agreed to the suggestion.
Microsoft Chairman Bill Gates and retiring Chief Executive Steve Ballmer are standing for re-election to Microsoft Corp's board of directors, despite recent moves by some investors to reduce their influence.
Banks might reject your loan application if you defaulted on your telephone or electricity bill, soon.
Ministry of Corporate Affairs suggests overhaul of rules for independent directors.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
Gates says he wants to spend more time on the Bill and Melinda Gates Foundation.
A three-member team each from the Central Drugs Standard Control Organisation (CDSCO) and the State Drug Controller visited the plant in Tamil Nadu's Kancheepuram, 40 km from Chennai, on Friday after the company recalled the eye drop.
The Tamil Nadu assembly on Tuesday unanimously passed a bill making enforcing dress code and banning entry of persons wearing 'dhoti' in public places a cognisable offence punishable with jail term.
The provisions of the border security bill, which allows massive increase in the fees on categories of H-1B and L1 visas, is discriminatory against the Indian companies, India has said and asked the United States to amend it.
'The Modi visit will prove to be the watershed where India and the United States commenced technology trade and transfer.'
The government is planning to codify class action as law. A clause to this effect has been included in the new Company Law Bill, which is expected to be tabled in the coming winter session of Parliament.
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The immigration bill, from the US point of view, is going to bring in much more talent to the US, which is desirable aid, said economist Arvind Subramanian.
A decision on the 26-day session was taken by the Cabinet Committee on Paliamentary Affairs headed by Defence Minister A K Antony on Monday.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
11 BJP members in the Joint Committee of Parliament on land bill moved amendments seeking to bring back the social impact assessment and consent clause.
A proposal in the Union Budget 2022-23 to raise excise duty on dirtier, unblended retail petrol and diesel has met with some resistance from the petroleum ministry. However, finance ministry officials say no such communication arguing against the levy of extra duty on diesel has been received from the oil ministry. Until there are discussions between the two departments, the proposal will not be tweaked in the Finance Bill. The Rs 2 per litre additional excise duty proposed on unblended fuels in the Finance Bill will result in a uniform hike of diesel prices across the country from October 1.
Credit bureaus keep a track of all your bills. Be it credit cards, phone bills, or EMIs. They have all in their records. If you ahve a good credit history you get rewarded for it in terms of low cost loans otherwise you may not even get a loan.
The cut in wages by companies whose operations were not shut by the lockdown was more likely opportunistic than out of business compulsions to survive the lockdown. If this is true, then it is worth wondering what kind of opportunism was this? Was it to make a quick buck or was it to use a crisis to engineer a structural change that was necessary, asks Mahesh Vyas.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Microsoft, the world's largest software company, is keen to partner India in a project to issue unique identification to each citizen, its chairman Bill Gates said on Friday.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
The Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent, with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
There is an urgent need for a Joint Parliamentary Committee to examine the current liability regime besides a high-powered trans-disciplinary independent experts committee to study the issue, says Gopal Krishna.
Take the Rediff Business Quiz and find out how much you know about some of the world's major companies.
The G-20 meeting of finance ministers and central bank governors at London recently discussed the issue of high salary and bonuses.
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