Property registrations in Mumbai hit the 100,000-mark till November, marking a 10-year high as "demand enablers" like low prices and cheaper interest rates lure people to buy homes in India's financial capital. The previous 10-year high was 80,746 units in 2018. November 2021 recorded property sale registrations of 7,582 units: an 18 per-cent decline compared to same month last year (YoY) when stamp duty rate was at its lowest level of two per cent, said property consultant Knight Frank India, quoting data from the Maharashtra government's Department of Registrations and Stamps. Compared to October or a month-on-month (MoM) basis, registrations are lower by 12 per cent.
With Tamil Nadu witnessing a sharp increase in the covid-19 cases, the government on Saturday announced clamping a two-week 'total lockdown' across the state to curb the spread of the pandemic.
With hotels and restaurants being barred from levying service charge, waiters, chefs and other workers are worried they will lose out on money and are planning to approach managements to seek a pay raise. They are also apprehensive that tips given by customers out of goodwill will dwindle. Uttarakhand-native Prakash Singh Koranga, 27, a chef who works at an outlet of popular franchise Moti Mahal Deluxe restaurant in south Delhi, said service charge which gets proportionally divided among the staff acts as an "extra income" and "incentive to give our best at the job".
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
Governor Acharya Devvrat administered the oath to 10 cabinet ministers and 14 ministers of state, including five ministers of state with independent charge.
Attempts are being made to balance the need for health of the sector, consumer interest while complying with the Supreme Court order on statutory dues.
With the spectrum auction now delayed till at least next May, the expected 5G orders for telecom equipment have not been sealed, the companies point out. Surajeet Das Gupta reports.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
The direction to Kerala Rail Development Corporation Ltd (KRDCL), or K-Rail as it is popularly known, was welcomed by Congress-led United Democratic Front opposition as they termed it a victory of the first phase of the struggle against the semi-high speed rail corridor.
The Opposition on Thursday protested the government's move to extend the tenures of the directors of Central Bureau of Investigation and the Enforcement Directorate up to a maximum of five years from the present two years, alleging it was 'arbitrary' and without any logic.
Railway traffic has dropped 32 per cent to 99.86 mt between April 1 and May 14, compared to the same time last year, while its revenue, too, dipped 41 per cent to Rs 9,094.38 crore.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
While in all, 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges, it is not immediately clear just how much of that has been sought by the government by midnight.
IndusInd Bank was the top loser among Sensex stocks, dropping by 4.38 per cent. SBI declined 2.41 per cent, HDFC Bank 1.77 per cent and Axis Bank fell by 1.5 per cent. Among others, auto, FMCG and power stocks also closed in the red.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
The case has been registered against unidentified officials of police and revenue department on the basis of a complaint from K Arjunan, district secretary, Communist Party of India-Marxist.
22 bodies, 13 from Kottayam district and 9 from Idukki were recovered from various rain-hit areas while National Disaster Response Force teams continued their rescue operations.
Amway maintains the action was related to a case in 2011 and it has been cooperating with the investigative agency.
The BJP would want that by March 2022, when UP votes, the economy starts looking up and it heads into the polls with no other issue distracting from its main poll plank of the construction of the Ram temple in Ayodhya.
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
After the April-July fiscal deficit data was released on August 31, several analysts hinted that the government may need to go for cuts in capital expenditure to meet the fiscal deficit target.
On both the occasions, the missiles intercepted the simulated targets with pinpoint accuracy. The missiles were tested for minimum and maximum range.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
'There is a time for lowering one's expectations of the economy -- and therefore not trying to do too much in the Budget,' notes T N Ninan.
The Cabinet on Wednesday approved public private partnership mode for the rollout of BharatNet project for broadband services in villages in 16 states with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad said. Prasad said the decision to involve private players was taken after Prime Minister Narendra Modi announced on August 15, 2020 that around 6 lakh villages in the country will be connected with broadband in 1,000 days. "The Cabinet has in-principle approved implementation of BharatNet in 16 states in a public private partnership model with total expense of Rs 29,430 crore.
Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.
Sawant took the oath in Konkani language.
Gandhi dismissed as an "eyewash" the probe into what she called as Ayodhya land 'scam' in areas around the proposed Ram temple while Mayawati demanded that the state government cancel the land deals if the allegations in a media report on the issue are true.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter. Rohatgi said they are willing to pay Rs 2,500 crore today (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company. He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.
The UK government is under increasing pressure on Monday to review its COVID-19 vaccine protocol in place for travellers from India, after its updated rules effective from next month failed to recognise Indian vaccines under an expanded list of countries.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
According to police sources, the arrested included Khasif (aged 30) and Syed Nadim (20), who are residents of Shivamogga, about 250 kms from Bengaluru.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
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