The Bill has proposed that zones notified by the end of March 2012, will get income tax benefits. For units, there is a two-year additional window, with those commencing operations by March 31, 2014, likely to get an exemption.
Normal or unbranded diesel currently attracts basic excise duty of Rs 1.46 a litre and an additional excise duty of Rs 2 per litre.
The first tranche of 50 expected to arrive soon as part of efforts to strengthen bilateral cooperation in the fight against the COVID-19 pandemic
This amount will include Rs 13,100 crore that Economic Affairs Secretary Subhash Garg has been publicly seeking from the central bank's contingency reserve fund since 2017-18 (FY18).
The zero-duty EPCG scheme is in addition to the 3 per cent EPCG scheme that was introduced last year.
Even as India gears up for election results on May 16, a group of senior Bharatiya Janata Party leaders have taken up an informal initiative to see how a 'Modi ministry' will look like, in case the party forms the government at the Centre.
The CoS, headed by Cabinet Secretary K M Chandrasekhar, has also decided to set up a committee overseen by additional secretary, expenditure, Vilasini Ramachandran, and key finance ministry officials who have been asked to work out a financial package.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Faced with an additional burden of an estimated Rs 927 crore (Rs 9.27 billion) due to hiked interest rates, the Employees Provident Fund board will meet on March 20 to decide on whether it should approach the Finance Ministry for help.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
The government got Rs 9,930 crore from its follow-on offer of NMDC shares, leaving it short by Rs 1,448 crore for its year's disinvestment target of Rs 25,000 crore. In addition, it got about Rs 2.5 crore by way of interest income on the issue money from banks.
Prime Minister Singh has assigned a senior Congress leader to placate the President, who is upset with Finance Minister P Chidambaram, reports Anita Katyal.
The powerful military establishment, which enjoys considerable influence over policy decisions in Pakistan, was also on board to ban JuD and other terror groups.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
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The Finance Ministry has filed the offer document with market regulator Securities and Exchange Board of India for the Central Public Sector Enterprises ETF, which could fetch the exchequer about Rs 3,000 crore (Rs 30 billion).
Capex for next year expected to be up 25% to Rs 3 lakh crore
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
Centre's off-the-record instructions through WhatsApp and a squeeze on funds brought the rural work programme to collapse after a roaring first half of the year.
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
Anticipating a sudden and huge crowd in bank branches following the announcement of various measures by the government on Friday, the AIBEA said since the number of employees in bank branches are very few, the crowds can pose a big risk for the bank staff as well as for the customers who might be visiting in large numbers.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
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.
Oil Minister M Veerappa Moily has asked the finance ministry to cut duties on branded petrol and diesel that offer better mileage and help cut fuel consumption.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports.
The United Nations estimates about one third of the world's 1.2 billion poorest people live in India
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
The new government order to review the service record of employees who have completed 30 years in the job to identify inefficient or corrupt staff and retire them prematurely has invited the ire of labour unions, who believe that this is a step towards privatisation.
Commerce ministry monitoring remedial measures to promote exports in key markets.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
The I-T department had said Vodafone India under-priced shares in a rights issue to its parent. The tax demand was for the two financial years ended March 2011.
According to data shared with the Lok Sabha, 19 road projects awarded after May 2014 were facing delays
Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
