Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
Elaborating on this theme, Petroleum Minister Dharmendra Pradhan pointed out that if the power sector had not been opened up through reforms initiated in 2003, India would still have been in darkness.
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
A six-point comparison by Anil Chopra, Group CEO & Director, Bajaj Capital
'We need to take steps towards ease of doing business.'
'Workers and employers should be ready for a change demanded by the new dynamism of the economy'
Modi said these steps exemplified his government's approach of 'minimum government and maximum governance'.
Customs and excise duty rates have been amended mainly to promote Make in India.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
