He also said that the expert committee on amendments to the Income-Tax Act was expected to submit a draft Bill during the early part of 2006, but did not give any time-frame for the introduction of amendments.
Finance Minister P Chidambaram on Wednesday said the new banking cash transaction tax imposed this year has started yielding results by helping authorities keep a track on black money.
Prices of petrol and diesel will not be reduced immediately as oil companies continue to make losses even after the recent fall in international oil prices, Petroleum Minister Murli Deora said on Wednesday.
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
India will continue to be one of the fastest growing economies in the world with the GDP expected to grow by 6-6.5 per cent in this fiscal, finance minister P Chidambaram said on Wednesday.
Prime Minister Narendra Modi has said that India's economic growth is a 'natural by-product' of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with 'corruption, casteism and communalism' having no place in our national life.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
'But unlike Bond who killed an individual, Israel is killing a nation.'
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Looking for party starters for New Year?
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Even today when news organisations and their owners have stooped before the powers that be when they were only asked to bend, Prannoy is still standing tall, asserts Sanjay Ahirwal, , former managing editor, NDTV Worldwide.
'The BJP is trying to change this mantra.'
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
'Later, I asked Hrithik how he could have remained so calm in the circumstances. He told me simply, "What could have happened? At the most, they would have killed me".'
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Currency notes of lower denomination of Rs 100 and Rs 50 will continue to be the legal tender
There seems to be no respite for Adani Group companies from the market carnage. All 10 stocks belonging to the conglomerate came under a fresh bout of intense selling pressure on Wednesday as the group's debt levels and repayment capabilities continued to plague investors. Analysts said investors are also concerned about whether the group will be able to maintain its pace of growth, given the current turmoil that has wiped out over Rs 12 trillion in market capitalisation (m-cap) since the start of the year.
Pompeo describes Swaraj somewhat disparagingly, using the American slang words "goofball" and "heartland political hack" for her.
China on Thursday criticised India's latest decision to block access to 54 more Chinese mobile apps over security and privacy concerns, saying that the move has damaged the legitimate interests of companies from China. India on Monday blocked 54 more apps with Chinese links, including Tencent Xriver, Nice Video baidu, Viva Video Editor, and gaming app Garena Free Fire Illuminate. The Chinese apps allegedly obtain various critical permissions and collect sensitive user data. The collected real-time data are being misused and transmitted to servers located in a hostile country, sources in India said, adding that the IT ministry has issued interim directions for the blocking of 54 apps.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
'India will want a lot of help from the US, but it's not going to want US troops.'
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
No prizes for guessing what the BJP's election campaign is going to be, and who will provide important inputs for it.
'In India there is so much exploitation because of capitalism,' says CPI-M Politburo member Brinda Karat.
The Shiv Sena said Opposition was not targeted in such manner even during Emergency
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
'Global trade is vital to the success of our economy and job creation. We need to continue to expand trade and work to open markets for American goods and services,' President Bush tells Aziz Haniffa in the final part of an exclusive interview.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
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