The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said. The US president immediately dismissed the report as 'totally fake news'.
India conceding ground to bring only top 100 digital companies like Google, Facebook, and Netflix into the global taxation pact may have revenue implications. This will mean that New Delhi will have to withdraw the contentious 2 per cent equalisation levy on e-commerce operators by 2023. This may have revenue implications for India, experts pointed out, as the equalisation levy has a much lower annual revenue threshold of Rs 2 crore (euro 0.2 million) as against euro 20 billion agreed by 130 countries at the Organization for Economic Cooperation and Development (OECD). India, along with other developing countries, was pitching for at least euro 1 billion threshold to cover at least 5,000 global entities. India collected Rs 2,057 crore from the equalisation levy in 2020-21, an 85 per cent growth over Rs 1,136 crore in the previous fiscal.
Overseas education consultant NNS Chandra shares advice on how to pick the right international education.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
India should take 'measured approach' with stimulus packages to deal with COVID-19 by limiting interventions to the provision of food, shelter and basic necessities of life for all; forbearance on payments of outstanding loans; and extra provision of working capital including what will be necessary to cover outstanding wages from lockdown period to enterprises.
In a pre-budget memorandum, submitted to the Union Finance Minister, P Chidambaram, the US India Business Council said it was concerned over the several recent policy initiatives of the Indian government in this regard.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
In many must-win battleground states, Indian Americans comprise a substantial and potentially decisive share of the electorate: 190,000 potential voters in Florida, 120,000 in Michigan, 170,000 in Pennsylvania, 150,000 in Georgia, 110,000 in North Carolina, 165,000 in Virginia, and nearly 470,000 in Texas.
At least a dozen Union ministers, including Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee, are abroad and some more are slated to be off to attend international conferences in the coming days.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
A Ganesh Nadar/Rediff.com attends Finance Minister Nirmala Sitharaman's presser in Chennai to tom-tom the government's achievements in its first 100 days in office.
'We are not able to manufacture even low-end products as cheaply as China.' 'We are not buying Chinese goods today out of any love for China.'
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Citigroup will pick up 5 per cent stake in SMERA, a rating agency for small firms and have a strategic tie up.\n\n
India's MRP and Packaged Commodities Acts are dated and not in line with the modern world's digital price mechanisms and comparisons.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
Vipul Ambani, a runner who participated in city marathons, never wore his last name on his sleeve, was easy-going, mild-mannered and always smiling. Yet, the question that begs to be asked is why would he join a luxury jewellery company, says Pavan Lall.
RBI had received 72 applications for small finance bank licences.
Punjab faces many mortal threats. For most of these the people of Punjab are themselves responsible. And unless they take a brutal hard look within, their future generations have to be resigned to continue living with this constant slide, warns Shekhar Gupta.
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
Finance Minister Pranab Mukherjee spelt out the details of the United Progressive Alliance's austerity measures on Friday, saying he has advised ministers to travel in the Economy Class domestically and in the Business Class during international travel. The Finance Ministry has asked the various ministries to ensure a 10 per cent cut in non- planned expenditure, except in expenses related to security.
The development comes after the shareholders of Ambadi Investments, the holding company of the Rs 38,100-crore Murugappa Group, voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
Company says no dispute with labour union but would address any shortcoming if brought to its notice.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
'The Modi regime is not willing to use its huge political capital for taking any economic policy measure that it fears might undermine that political strength, says A K Bhattacharya.
India is perceived to be a powerhouse for investment in coming times.
A top Finance Ministry source, however, said no discussion has taken place in the government so far on whether to extend Rajan's tenure or not.
The Institute of Management Technology, Ghaziabad & Nagpur invites applications for its various management programmes.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
The National Institute of Business Management announces admissions to its MBA course through distance learning (2 years).
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
Imports too tumbled by 58.65 per cent to $17.12 billion in April from $41.4 billion in the same month last year, according to the data by the commerce and industry ministry.
