'The message is not clear whether we are wanted.' 'All this could adversely impact our strategy in India and also investments.'
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
17 MLAs of the TDP were suspended from the assembly for disrupting CM Jagan Mohan Reddy's address on the Andhra Pradesh Decentralisation and Inclusive Development of All Regions Bill, 2020.
On Thursday, the Business Advisory Committee of the Lok Sabha, which allocates time for the Bills and discussions to be taken up for the forthcoming week, met, but the government strategists didn't ask the members to allocate time for the GST Bills for the next week.
Government on Friday ruled out replacing its Lokpal Bill with another, saying it will be better to have amendments to the one already introduced.
An all-party meeting on Monday failed to hammer out a consensus over the controversial Insurance Bill, which was scheduled to be taken up in Rajya Sabha.
The Centre needs to have dialogue with the Opposition instead of letting politics come in the way; it needs to stoop to conquer, says Aditi Phadnis.
Buckling under pressure from various quarters, the government on Monday withdrew the harsh provisions relating to excise and customs duty evasion cases. In Finance Bill 2012-13, it had earlier proposed to make certain excise and customs duty evasion cases non-bailable until the court had heard the public prosecutor.
Set to begin next week, the first of its kind uniform discount offer from all jewellers across the country, would be valid for 10 days nationwide.
Says that he will re-look at all suggestions on indirect taxes and make announcements in Parliament.
The government on Monday introduced a bill in Lok Sabha aimed at discouraging borrowers to postpone repayment of their dues and enable the secured creditor to speedily recover their debts including through security or other measures.
The Companies Bill 2009, which seeks to replace a half-a-century-old Act, will be presented in Parliament in the ongoing Budget session, Finance Minister Pranab Mukherjee said on Monday.
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
Amid a stalemate between the government and the Opposition over the issue, the House failed to transact any significant business and was adjourned for the day.
The Congress and the Left parties might move court to challenge LS speaker's ruling on Aadhaar as money Bill.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Most of the Budget work is done; only some "final touches" remain. For those, he will soon sit with Prime Minister Manmohan Singh--who was governor of the Reserve Bank during Mukherjee's stint in North Block in the 80s--before his draft speech goes to print.
The apex court had permitted only voluntary use of Aadhaar for welfare programmes including MGNREGA, all pension schemes, provident fund and Pradhan Mantri Jan Dhan Yojna.
The development came even as Uttarakhand is set to have a vote of confidence on Tuesday to determine whether Congress leader Harish Rawat has enough numbers to retain power in the state that is currently under the President's Rule.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Parliament's standing committee on finance, headed by Bharatiya Janata Party leader Yashwant Sinha, on Thursday finalised its report on the Companies Bill, 2011.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Parliament on Monday approved the Industrial Development Bank of India Repeal Bill to enable its conversion into a universal bank
Lok Sabha passes Finance Bill; Will introduce a white paper on black money in current session: FM
Moving the Finance Bill, 2012 for consideration and passage in the Lok Sabha, Mukherjee halved the capital gains tax for private equity investors to 10 per cent and relaxed the norms for arrest of persons involved in violation of Customs Act.
Unless ratified by eight states, a Constitutional amendment cannot be signed by the President of India.
Law Minister Arjun Ram Meghwal will attend the meetings of the committee as a special invitee, while legal affairs secretary Niten Chandra will be secretary to the panel.
There will be higher charges for bank account-holders.
The government will find it difficult to pass the Bill without the Congress's help
With the Finance Bill 2010-11 proposing payment of 10.3 per cent service tax by hospitals on cashless settlements, it may be a double whammy for policyholders: Higher premiums as well as soaring hospital bills.
The deadline set by anti-corruption crusader Anna Hazare for passing the Lokpal Bill is inching closer, but the government seems to be in no hurry. Sources in the government said that the Union Cabinet is unlikely to discuss the Lokpal Bill on Sunday.
Following passage of the Constitution Bill, 2014, Dass and Finance Minister Himanta Biswa Sarma, who introduced it in the House, exchanged sweets.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Decoding four important provisions in the Finance Bill 2018.
Crucial financial sector reforms are again stuck, despite Finance Minister Pranab Mukherjee's appealing to political parties to help pass the legislations in this regard.
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