Unveiling the Budget for 2009-10, Finance Minister Pranab Mukherjee said, "MAT was introduced to address inequity in taxation of corporate taxpayers. In the quest for greater equity, I propose to increase the rate of MAT to 15 per cent of book profit from the present rate of 10 per cent."
In a move to cut down delays in armament procurement, the government reintroduced the fast track process in modified form and to make field trials of weapons systems more transparent.
The new Congress-led government on Tuesday promised to 'revitalise' sick public sector units and strictly adhere to the roadmap laid out for divestment of public sector units in the Common Minimum Programme to be unveiled this week.
To help consolidate India as a major global power, the Manmohan Singh-led United Progressive Alliance (UPA) government will unveil a new policy to promote Indian companies in international markets.
Govt to bring 'Bankruptcy Code' for ease of doing biz
Automotive aftermarket has touched the Rs. 33,000-crore mark, but fake spare parts are costing the government Rs. 2,200 crore a year.
Called 'Swabhiman', the programme, to be launched by UPA chairperson Sonia Gandhi, was to be introduced earlier, but put off twice.
Says fiscal trajectory has changed for the better over the past months.
As a setback to exporters, shipments of 1,100 items will be entitled to lower tax refunds from October 1 when curtains draw on the popular DEPB scheme, government announced on Friday.
An announcement to this effect could be made in the Budget scheduled to be unveiled by finance minister Pranab Mukherjee in the Lok Sabha on July 6. The decision to permit SEZ developers to raise ECBs, sources said, would promote development of the special economic zones, besides helping the government in arresting decline in the foreign exchange reserves.
The outcome budget to be presented next week will discipline various ministries in their spending by ensuring that they do not stagger it towards the last quarter of fiscal.
Industrial output rose to nearly three-year high of 6.4% in August.
'During the Congress rule, the solicitor general had submitted an affidavit in the Supreme Court, stating that the government would side with the sentiments of the Hindu community if an evidence was found of a razed temple, where the mosque was built'
The states will be asked to tap the Centre's JAM trinity.
India on Thursday extended tax holiday and duty refund for exporters, while allowing duty free capital goods import under its Foreign Trade Policy to insulate them from protectionism induced by recession abroad. Unveiling the five-year policy, Commerce Minister Anand Sharma set a target of $200 billion worth exports for next fiscal, a feat that India failed to achieve in 2008-09 due to a slump in global demand in the face of financial crisis.
All civilian drone operations will be restricted only during day time and flying will be restricted within visual line of sight which usually would be 450 metres, the regulation says.
Before unveiling any five year Plan, the Plan panel prepares an approach paper, which lays out the major targets, the key challenges in meeting them, and the broad approach that must be followed to achieve the stated objectives.
Giving a clear indication on unveiling a package in the interim budget to stimulate industrial demand, the government said on Thursday it is not restrained by the Constitution from announcing urgent policy intervention in the run-up to the Lok Sabha elections.
The Indian football team's jersey for the Under-17 BRICS Diplomatic Football Cup was unveiled last week. The jersey, coloured in the standard blue hue with a large lotus imprinted on it, has called for strong reactions from Indian football fans.
Defence Minister Manohar Parrikar on Saturday said the government is planning to legalise representatives of various foreign arms companies in the country, for speedy purchase of military hardware.
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
The Union Budget is likely to adopt a three-pronged strategy to bring about the second green revolution in agriculture and evolve methods to tap the $119 billion foreign exchange reserves to boost investment.
India on Monday unveiled a roadmap to step up trade with Latin American countries by ten times to over $22 billion in the coming years.
The e-Visa facility is available to visitors from about 44 countries.
The campaign will be launched in global as well as domestic markets across the media.
India on Friday unveiled a new science policy that boosts tax breaks for private research to help meet a goal of doubling research and development expenditure.
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The request for relaxation came from large manufacturing units which have stated that the move would help facilitate manufacturing processes and augment exports.
Ahead of the all-party meet called by the government to discuss the naxal situation, the Bharatiya Janata Party on Monday said it will serve no purpose unless a comprehensive strategy is devised to deal with the problem.
Unveiling the economic agenda of the new government, President A P J Abdul Kalam on Monday promised massive public investments in agriculture and industry, encouraging foreign direct investment
The Supreme Court's verdict on the Rafale deal spurred a war of words between the BJP and the Congress.
The government, however, refused to unveil the new fare structure.
E-auction or e-tendering moves the process of bidding for government contracts completely online, removing most manual procedures and, therefore, creating an accountability trail.
Civil Aviation Secretary R N Choubey said on Friday there would be no compulsion on airlines.
Unfazed by the stalemate over the Sadhvi Niranjan Jyoti issue, government has lined up a heavy legislative agenda in Parliament this week including a bill seeking to replace coal blocks allocation ordinance.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
Amid increasing number of cyber attacks and snooping, the government on Tuesday announced the national cyber security policy that aims to protect information and build capabilities to prevent such attacks.
Govt to introduce new aviation policy on May 15.
Getting ready to fight the next assembly election in Assam in 2016 on the 'U-turns' on state issues made by the Bharatiya Janata Party government in the Centre, the ruling Congress government in Assam has brought out a handbook for its party workers highlighting the 'failures' of the Narendra Modi government to fulfil promises made to people of the state.
