Deputy CM Manish Sisodia says it's the 'biggest failure of our system'.
Regulators find it difficult to track down illicit transactions with no limit on the number of subsidiaries.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
RBI said more monetary transmission to support growth continues to be critical.
Mallya might continue to elude ED, CBI interrogation in the short term but could still be extradited to India
The session will have 20 working days for now.
Short-term capital gains tax of 30% is likely to be levied if bitcoin is held for less than three years and 20% if held for longer than 36 months.
Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.
The railways ministry has a capex target of Rs 1 lakh crore for the financial year.
Revenue share from India has inched up to nearly 0.8 per cent of its global sales. The revenue growth rate is in stark contrast to the firm's performance in volume terms.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P Chidambaram, RBI Governor Raghuram Rajan and Economic Affairs Secretary Arvind Mayaram in New Delhi.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
Chief Minister K Chandrashekar Rao's son and Municipal Administration Minister K T Rama Rao said he would 'personally monitor the case'.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Maharashtra Chief Minister Devendra Fadnavis on Saturday allocated portfolios to the twenty-member council of ministers, including 10 of the Shiv Sena, who were inducted into his expanded cabinet.
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
Under pressure from his party, Oil Minister M Veerappa Moily said the government is considering increasing the quota of subsidised LPG cylinders to 12 per household even as hints were dropped of a one-time hike in diesel and LPG rates
About 80 per cent of the companies that are registered are essentially non-IT.
Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding
As Chinese gadget-maker Xiaomi, the world's third largest smartphone seller after Apple and Samsung, turns five today, it will seek to intensify its India push. But there are miles to go before it can claim true success in India, as a harrowing experience of one of its smartphone users suggests.
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
The country had imported 5.5 million tonnes of pulses last year.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
The Modi government caved in under American pressure without even token resistance. Two countries similarly placed as India with high dependence on Iranian oil -- China and Turkey -- have shown the grit to stand up to Washington, says Ambassador M K Bhadrakumar.
Beijing wants assurance that its investments won't come under scrutiny
In a strongly worded legal notice to FabIndia Chief Executive Officer Viney Singh, KVIC's director (legal affairs), noted that the organisation was continuing to sell its garments in the name and style of Khadi despite earlier warnings by KVIC and assurances by FabIndia that it will not continue do so.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
Adidas, which owns Reebok, had to take euro 211 million hit on account of the fraud at Reebok India
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
The next two days are extremely crucial to locate top Indian mountaineer Malli Mastan Babu, who is lost in South America's Andes since March 24, say the handlers of his rescue operations while slamming the central government for not acting swiftly on the matter.
With founder Subhash Chandra no longer in the driver's seat at Zee, the acid test for Punit Goenka would be to take the financial investors along with him even as he strives to weather the latest storm. The question, now, is how he will deal with the challenges of being a professional CEO rather than an owner-CEO in the aftermath of his family offloading most of its promoter stake to a clutch of financial investors. However, the silver lining is that Zee remains the most profitable of the top four broadcasters in India.
Lukewarm response from private investors and turf battles between government agencies have resulted in delaying Modi's ambitions. Sahil Makkar reports.
