India's civil nuclear liability regime has raised serious questions about the country's capacity addition programme. In an interview with Sanjay Jog, G R Srinivasan, former vice-chairman of the Atomic Energy Regulatory Board and currently principal associate-nuclear power business in GMR Energy Ltd, says the regime is tremendously unbalanced and may adversely affect the nuclear capacity addition programme.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Paving the way for India to have nuclear commerce with the world, Parliament on Monday adopted a nuclear liability bill with the government insisting that the compensation package for victims matches that of the United States and it was still open to accommodate some suggestions.
Former Atomic Energy Regulatory Board chairman Dr A Gopalakrishnan makes a case against the nuclear liability bill.
A case was registered by the police against Congress MLA Channareddy Tannur and his son Pampanagouda Tannur on Saturday after a Dalit sub-inspector allegedly died by suicide, following his transfer within seven months of posting.
'The Casa ratio is at 33.4 per cent, which has to keep improving. Right now, there is a bit of liquidity pressure in the market.'
Rahul Gandhi, who is seeking a successive term from the Wayanad Lok Sabha seat, has declared assets of over Rs 20 crore in his nomination papers.
Public sector banks (PSBs) posted 16.1 per cent year-on-year (Y-o-Y) growth in net profit at Rs 39,974 crore during the June 2024 quarter. While net interest income (NII) showed subdued growth of 7.1 per cent, provisions and contingencies declined by 10.5 per cent Y-o-Y. This aided the bottom line to show steady growth.
Ahead of Prime Minister Manmohan Singh's visit to the United States, a controversy has broken out over the nuclear liability law with reports suggesting that an agreement will be signed which may not be in tune with the law.
The government is understood to be considering changes in the nuclear liability bill, including a proposal to drop a crucial clause that would compel a foreign nuclear supplier to provide for compensation in case of accidents due to wilful action or gross negligence.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
India's large population can become a liability rather than an advantage as limited progress in human resources development has been made so far, Infosys chairman N R Narayana Murthy said.
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
The Bharatiya Janata Party and the Left parties have already indicated opposition to the Civil Liability for Nuclear Damage Bill that is key to operationalise the landmark Indo-US nuclear deal. The Bill pegs the maximum amount of liability in case of each nuclear accident at Rs 300 crore to be paid by the operator of the nuclear plant.
One of the biggest myths being propagated is that nuclear cooperation with the US is the answer to India's energy crisis, which in any case would not see the light of the day before 2016. Also Indian Parliament and citizens have been kept in dark about the cost of electricity from foreign-built nuclear power reactors.
Shashi Tharoor, who is in the midst of a controversy regarding his role in the Kochi Indian Premier League franchise, has become a liability for the Congress party.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
In financial year 2020-21, the BJP declared assets worth Rs 4,990 crore, up by 21.17 per cent to Rs 6,046.81 crore in 2021-22.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
Voicing "serious concern" over India's nuclear liability law, the United States on Friday said New Delhi could seek International Atomic Energy Agency's help in evaluating its legislation's compliance with the Convention on Supplemental Compensation.
Iron ore mining major NMDC's results for the April-June quarter (Q1) of FY25 were better than estimates. Weak volumes were balanced off by higher realisations, better average selling price (ASP) and lower royalties which boosted bottomline. The revenue was in line with estimates at Rs 5,400 crore, flat year-on-year (Y-o-Y) and down 17 per cent quarter-on-quarter (Q-o-Q).
When AS-15 became operative in 2006, the initial estimate for additional pension provisioning was estimated at Rs 6,000 crore. However, the latest wage revision may bring in an additional 275,000 bank employees who opted for PF. Banks may also provide for the pension liabilities of 65,000 employees who have retired but have been seeking resort to the defined pension scheme since 1996. This will require additional provisioning of Rs 6,000 crore.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
US Commerce Secretary Carlos Gutierrez has said that with the signing of the historic and landmark US-India civilian nuclear deal it is now imperative that India move quickly to enact nuclear liability protection to envisage the private sector of both countries to engage in business.
The government on Thursday claimed it was so far under no liability to honour claims worth over a billion dollars raised by overseas lenders and minority shareholders of the controversial Dabhol power plant.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
India on Thursday firmly ruled out any change in the civil nuclear liability law notwithstanding repeated concerns expressed by countries exporting atomic equipments over compensation claim in the event of an accident.
Kathuria's wife Shima told PTI that her husband had no idea about the gate breaking apart due to his car, adding that his arrest has created a "state of panic" for the family.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
As required, Modi submitted the affidavit while filing his nomination papers Tuesday as an election candidate from the Varanasi parliamentary constituency, a seat he has held twice earlier.
Many individuals filing tax returns declare zero tax liability. They accounted for two-thirds of the total individual returns filed.
India's Civil Nuclear Liability Bill will not have an immediate adverse impact on Indo-Russian cooperation in atomic power generation, but Russian contractors would not like to see safety issues raise their project costs. Director for the Centre of Energy and Security Studies and Editor-in-Chief of the Nuclear Club magazine Anton Khlopkov said the legislation passed by the Indian Parliament "is raising concerns in Russia".
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
The Parliamentary Standing Committee on Science and Technology, which has held marathon deliberations on the controversial Civil Liability for Nuclear Damage Bill 2010, is expected to present its report to Parliament on August 9.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
