He was confident of collecting tax revenue of Rs 31,000 crore.
India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).
The government has set a target of bringing the fiscal deficit down to 5 per cent of the GDP by 2011, and 4 per cent of the GDP by 2012.
German Chancellor Angela Merkel had assured the Greek leaders her continued support for the country to remain in the euro zone when she last Wednesday made her first visit to Athens in nearly three years.
Union Commerce and Industries Minister Kamal Nath on Friday said he disagreed with the finance ministry on the controversial fringe benefit tax, saying the tax laws should be made simpler.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
Addressing a press conference, farmer leader Gurnam Singh Chadoni said if the Centre does not accept their demands during Saturday's talks, they will intensify their agitation against the new farm laws.
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The ministry has been receiving representations from chambers of commerce and industry associations on tax-related issues and disputes that affect the industry as a whole or impact a large sections of the industry.
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
French companies have invested more than $1 billion per year in India.
Industry representatives recommended that the basic annual exemption limit for individuals should be raised to Rs 1,50,000 from Rs 1,10,000 and the peak income tax rate be cut to 25 per cent, from 30 per cent at present.
Finance Minister P Chidambaram is likely to meet captains of Indian industry on June 17 so that 12 per cent growth can be achieved in the manufacturing sector.
Finance Minister P Chidambaram is expected to extend a relief package for leather and textile exporters, who are hit by the rupee appreciation, as demanded by the commerce ministry.
His statement assumes significance in the light of scams in the state-owned banks.
Finance Minister has proposed to levy MAT of 18.5 per cent on the book profits of Special Economic Zone developers and units.
Referring to the concerns raised by industry captains and others during the meeting, Gujral admitted that the weakening Rupee is hurting importers.
The government is expected to take a decision tomorrow on the issue of allowing foreign airlines to buy up to 49 per cent stake in cash-starved Indian carriers.
Exporters incur transaction costs not only in transportation of goods and dealing with banks, but also in complying with various laws and procedures, besides meeting documentation requirements.
Non-performers were not punished, performers were not rewarded, points out Utkarsh Mishra.
With a comprehensive SEZ Act in place, the Union Commerce and Industry minister Kamal Nath said his ministry would go ahead with the plans to develop SEZs across the country, despite oppositions from the finance ministry.
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
'Rahul Bhai was well known for speaking the truth.' 'He did not accept anything he considered wrong.'
It was a many splendoured political career, which ended at the presidential palace. But the prime minister's post eluded him, even though it was a position he openly aspired for.
A business in India wanting access to maps and geospatial data would typically have to wait months before it got what it wanted. All this is set to change with the new guidelines on geospatial data, report Neha Alawadhi and Peerzada Abrar.
The Central government has finalized a financial relief package for 33 closed tea gardens across the country, Minister of State for Commerce Jairam Ramesh said on Friday.
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
The government has launched 'Make In India' initiative.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Minister of State for Commerce and Finance Nirmala Sitaraman, in Mumbai to address election rallies, took time out to talk about the economy, foreign investment and trade facilitation.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Wants all services included in tax, with a negative list.
Mamata woos industry with boat ride to Gangasagar, Sundarbans
In a telephonic conversation, Mitra explains to Namrata Acharya how the state is reeling under a huge debt, a 'legacy' of the Left government.
India plans to cut transaction costs for exporters and ensure the availability of dollar finance, as it looks to reverse a decline in exports and double outbound sales of goods and services over the next five years.
Trinamool Congress candidate and Federation of Indian Chambers of Commerce And Industry secretary general Amit Mitra, pitted against Communist Party of India-Marxist candidate and West Bengal Finance minister Ashim Dasgupta, is confident that his party is heading for a victory at the forthcoming Assembly elections.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
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