In order to attract inflow of foreign currency, the Reserve Bank on Tuesday simplified rules governing investments by non-resident Indians (NRIs) portfolio investments like equities and debt.
With trade deficit falling 24% in Apr-Dec and stable capital flows, FY14 may end with a balance-of-payments surplus.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Higher interest rates in the US do not necessarily coincide with capital outflows.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
Getting US citizenship will in no way affect your right of being able to own or hold the agricultural land in India.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
From a credit risk perspective, there does not seem to be immediate danger.
Non-Resident Indians and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get a declaration form stamped.
India's officialdom must turn to the diaspora to fund the economy's addiction to foreign money.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
For one thing, US Fed Chairman Ben Bernanke was perhaps right in postponing the quantitative easing taper even though the markets had complained at that time that they were primed for some reduction in QE3 and the Fed had missed an opportunity to execute their plans without causing too much of a flutter.
Pratip Chaudhuri said such bonds might expose issuing entities (banks) to class action suits in the US for making an offer to a specific ethnic group in that country.
Government sources say India could consider raising the policy repo rate if the rupee falls towards 61-62 to the dollar.
India's new tax policy which makes it mandatory to disclose foreign is not so common in developed countries.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
Rajan tells RBI colleagues he will be returning to academics
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
'We don't know how much the Pay Commission outflow will be.'
The net claims of non-residents on the country, as reflected in the net Index of Industrial Production, decreased by $12.8 billion to $296.2 billion on the back of a $10.6-billion fall in the value of foreign-owned assets for the quarter ended September, the Reserve Bank said on Tuesday.
The Reserve Bank is likely to continue buying dollars from market to add to its reserves in the coming months, which has crossed $300 billion, says a report.
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Money exchangers and bankers in Muscat said that non-resident Indians have started resorting to personal loans as rupee touched an all-time low of 62.03 against the US dollar on Friday, Times of Oman reported.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
There has been sizeable rise in external commercial borrowing and and rupee denominated Non-resident Indian deposits.
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
The domestic currency spurted by 425 paise or 6.28 per cent in last five straight sessions.
The rupee had lost more than 8 per cent since the first week of May, after the US Fed indicated it may start scaling back its monetary stimulus programme later this year.
Banks had raised about $34 billion through the FCNR (B) from deposits from NRIs in September 2013.
A few adjustments can help foreign travellers and students reduce the impact of a falling rupee.
'Coronavirus has occasioned us to see how copious Modi's mojo bag is,' says Shreekant Sambrani.
There are some advantages of a falling rupee.
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
It is high time to manoeuvre the rupee more effectively and predictably, even as it has to be recognised that such tweaking of the rupee needs to be accompanied by reforms to the real sector and factor markets.
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Chidambaram also said the government will take steps to curb imports of gold, silver, oil and luxury goods.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
