The pressure on India to take a hostile attitude towards Russia and China was not subtle, but it was guarded, observes Ambassador T P Sreenivasan after Monday's 2+2 ministerial meeting in Washington, DC.
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
'What happened was that over a period of time, the data analytics showed that many were claiming it and that it was being misused'
DRI seized contraband worth Rs 504.39 crore.
Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
The government on Thursday gave more powers to market regulator Securities and Exchange Board of India to crackdown on ponzi schemes, access phone call records to check insider trading and carry out search and seizure operations.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
In UK, France and Germany, the president and CEO of Edelweiss Securities, anticipates votes incrementally in favour of local protection and de-globalisation.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
According to sources, the postal bank will tie up with other banks and financial companies to offer products like loans, mutual funds, and insurance policies to its customers.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
The department has warned taxpayers that illegal 'mobile applications' circulating in the webworld for smartphones, especially Android and BlackBerry phones, 'may not be according to the department's data structure' and parameters.
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
Sensex under pressure as Yellen signals rate hike; banking stock slip.
The young are most vulnerable to self-harm and suicidal ideas at this time.
The Central Board of Direct Taxes has urged the Income-Tax department to ensure enhanced accountability and probity in public dealings and see to it that honest and tax compliant people are treated with "dignity and courtesy".
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
According to an order issued by the Central Board of Direct Taxes, the department will share 'bulk information', starting from Permanent Account Number (PAN) to the taxpayer's name and all the individual data that it captures like father's name, gender, date of birth, photograph and signature or thumb impression.
Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
The vertical will be based out of Bengaluru.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
'It will take a long time for people's memory to be misled by a prime minister who is so arrogant and who refuses to acknowledge his own faults.'
The US House of Representatives averted a government shutdown on Thursday, narrowly passing a $1.1 trillion spending bill despite strenuous Democratic objections to controversial financial provisions.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
Besides lining up Bali, Nairobi and Toronto flights, the airline is also planning flights from Mumbai to Hong Kong. The network expansion will help the national carrier grow its market share and capitalise on the capacity vaccum created by the collapse of Jet Airways.
The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine.
The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
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