The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
R S Gujral shifted after controversial taxation proposals during his tenure
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
Junking of old Rs 500 and Rs 1000 notes, he said, will help the world's fastest growing major economy to move towards less cash economy and digital payments that will help shore up tax revenues and check evasions.
Speaking at CNBC TV 18's business leadership awards event, Sitharaman made it clear that she was not expecting a jump in the number either.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
These new coins will be made available for public use shortly, said Sitharaman.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
Referring to demonetisation of high value currency notes, Jaitley said it was well received as 'imandari ka utsav.'
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
There are no regulations governing virtual currencies in India and the RBI has not given any licence to any entity/company to operate such currencies.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Take some time off to write a postcard to the finance minister, tell Mr Arun Jaitley your wishlist for Union Budget 2018.
He was permanently absorbed into the ED cadre in 2014 and has headed some high-profile investigations into the 2G spectrum allocation case, the 2010 Commonwealth Games, the money laundering cases against former Union finance minister P Chidambaram and his son Karti Chidambaram, Andhra Pradesh chief minister Y S Jagan Mohan Reddy and former Jharkhand chief minister Madhu Koda, the Aircel Maxis and VVIP choppers case.
Party leader Rahul Gandhi dubbed the Union Budget as a 'zero-sum budget', saying it has nothing for the salaried, middle class and the poor.
He also reiterated India's strong support in the fight against terrorism with Sri Lanka, which saw the country's worst terror attack on Easter Sunday.
An Australian court on Thursday rejected the 2Day FM station's petition, paving the way for the country's media watchdog to conclude its probe into handling of a royal prank call by the Sydney-based radio station that led to the death of an Indian-origin nurse in the United Kingdom.
The UN Security Council is scheduled to vote on Friday evening on a draft resolution on Russia's military operation in Ukraine as well as the escalating situation in the eastern European country.
Former RBI governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the Bharatiya Janata Party government.
RJ Malishka has a message for the BMC! Who's listening?
Harrish M Bhatia, chief executive of 94.3 MY FM, the station under the Dainik Bhaskar group, tells Gaurav Laghate regional markets hold great potential.
Another major development is REITs coming closer to reality
These houses will have amenities such as LPG, electricity and toilets, she said.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Heeding to demands made by several states, the GST Council on Friday put on hold a decision to hike the tax rate on textiles to 12 per cent and referred to a panel of state ministers to recommend rate by February, Union Finance Minister Nirmala Sitharaman said. The panel, the highest decision-making body for indirect taxes, met under emergency provisions after states made a request for deferring the tax rate hike on textiles, from the current 5 per cent, to be effective from January 1, 2022. Currently, the tax rate on manmade fibre (MMF) is 18 per cent, MMF yarn 12 per cent, while fabrics are taxed at 5 per cent.
Mitra also said currency demonetisation has led to closure of small industries and left hundreds jobless across the country
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
He rejected suggestions that the Pak-Saudi statement was against India's push at UN.
India has maintained that there can be no talks with Pakistan unless it stops supporting terrorists.
The government's endeavour, she said, is to protect women in this country in collaboration with state governments.
Speaking at a roadshow in Frankfurt on investment opportunities in India on Monday, the Minister said the economy was on the right path to achieve growth levels recorded during 2004-2008.
On August 15 last year, Prime Minister Narendra Modi announced from the ramparts of the Red Fort that the Indian Railways would launch 75 Vande Bharat Express trains by August 2023. Later, in her 2022 Budget speech, Finance Minister Nirmala Sitharaman announced that 400 Vande Bharat trains will be manufactured in the next three years, which are expected to cost between Rs 40,000 crore and Rs 50,000 crore. Those upbeat announcements come after a series of cancelled tenders, vigilance actions against officials and interdepartmental rivalry that delayed the addition of these iconic trains developed entirely indigenously by the Integral Coach Factory (ICF) in Chennai.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
M&M was the top gainer in the Sensex pack, rallying around 6 per cent, followed by SBI, ITC, NTPC, Bharti Airtel and ONGC. On the other hand, Bajaj Finance, HDFC, Bajaj Finserv, Titan, Sun Pharma and Dr Reddy's were among the laggards. NSE Nifty inched up 1.40 points to its fresh closing record of 14,564.85.
The most impressive thing about the speaker is that you can raise the volume to a level adequate for a party without it crackling, says Khalid Anzar.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
