Historically, it is only the third time funds raised through IPOs has crossed the Rs 10k-crore mark
Revenue collections will be on target at around Rs 2,50,000 crore (Rs 2,500 billion) this fiscal in view of the impressive direct tax mop-up, Minister of State for Finance Shripad Naik said on Friday.
Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections.
Early gains in old and new economy stocks saw the index open with a huge positive gap of 40 points at 4,947.
If investors still have appetite to buy shares in one of the region's most expensive markets, Coal India might stack up.
With the increase in corporate tax collection, the net direct tax mop up rose by 15 per cent to Rs 32,885 crore (Rs 328.85 billion) till September 25, even as the income tax collection was slow.
Union Law Minister Ravi Shankar Prasad, however, said that the appointment of judges would go ahead irrespective of whether new Memorandum of Procedure was in place or not.
The direct tax collection, which was flat till August, has picked up to clock 4 per cent growth at Rs 18,077 crore (Rs 180.77 billion) till September 15.
This is part of a strategy to mop up as much revenue as possible in the current financial year.
The Centre's net borrowings stood at Rs 61,318 crore (Rs 613.18 billion) till August 8, completing 57.2 per cent of the budgeted Rs 1,07,194 crore (Rs 1,071.94 billion) for this financial year, PNB Gilts said in New Delhi on Tuesday.
The government's gross borrowings were down by near nine per cent to Rs 51,001 crore (Rs 510.01 billion) till June 27 as against the same period last year, even as there was a 10 per cent rise in redemptions, PNB Gilts said.
Centre's gross borrowings stood at Rs 50,001 crore (Rs 500.01 billion) till June 13, down by over nine per cent from Rs 55,001 crore (Rs 550.01 billion) in the previous year, indicating fiscal prudence, PNB Gilts said.
Crisis-ridden NSEL on Wednesday declared ten more entities as defaulters after they failed to pay their dues on the second-pay out, taking the number of members who are to pay dues at 19.
Chelsea's David Luiz never really looked cut out for a role as a defensive rock in one of England's meanest rearguards.
Oil companies on Monday slashed petrol price by Rs 3.02 per litre.
The public sector behemoth is looking at forming joint ventures with states.
Tax collections surged by 15.26 per cent to Rs 1,61,450 crore (Rs 1,614.50 billion) in the first ten months of this fiscal despite a steep fall in direct tax collections last month.
Fuel rates were last revised on February 1 when petrol price was cut by a marginal 4 paise a litre.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
The government had mopped up Rs 2,700 crore from the sale of a new 7 per cent, six-year tax-free bond till the first week of January, a finance ministry official said on Wednesday.
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
The government has mopped up Rs 1,26,034 crore (Rs billion) till last week taking the gross market borrowing to over 88 per cent of the budgeted Rs 1,42,867 crore (Rs 1,428.67 billion) for the entire fiscal.
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
At first look, the reader would be aghast at the similarities in the DMK and AIADMK's manifestos, wondering if the same hand had drafted both. Yet, when it comes to drinking water and irrigation supplies, both parties are equally silent on the subject -- as if summer did not exist, as didn't water scarcity, says N Sathiya Moorthy.
A weakening dollar against other currencies overseas supported the rupee.
'COPD causes an economic loss of Rs 35,000 crores.' 'We cannot afford to lose such a huge amount due to one disease.' 'COPD is a non-communicable disease and that's why it remained low in priority.' 'The time is right to shift the focus to COPD as HIV/AIDS and TB are under control. 'This badly neglected disease has become the second largest cause for deaths in India.' 'It is time for us to wake up and give due importance to this disease.'
Prime Minister Narendra Modi took a dig at pre-election promises to reduce power and water bills, saying he wondered how such promises could be made in states which were dependent on electricity from outside.
Domestic budget carriers SpiceJet, Indigo and GoAir have rolled out another sale offer with fares starting from Rs 1,699 for a limited period on domestic routes.
The entities are classified as 'vanishing companies' if they cease to file their balance sheets and other documents after raising capital and the whereabouts of their offices or directors become untraceable.
Agra, Shimla, Nanded, Kanpur and Jamshedpur are among the many airports that would see connectivity under Udan.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
Kumaraswamy, who also holds the finance portfolio, said he has limited the loan amount to Rs 2 lakh, as it was 'not right' to waiver higher value crop loan.
The video, produced by Xinhua, China's official news agency, ridicules India and Indians, and has poorly spelt subtitles and racial stereotypes.
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