RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
Gopal Krishna Pillai, senior Indian Administrative Service officer of the 1972 batch, is going to be the next Union Home Secretary. Pillai, who is serving as the Union Commerce Secretary, will take over from current Union Home Secretary Madhukar Gupta in mid-June. Gupta is slated to be appointed as the governor of Tripura.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
For growth in export, continuous gain in productivity is essential.
The zero-duty EPCG scheme is in addition to the 3 per cent EPCG scheme that was introduced last year.
Registering a jump of 10 places in the rankings, Uttar Pradesh occupied the second position in 2019 as against 12th in 2018.
The finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
For the second time since Press Note 2 and 4 were issued in February 2009, the Department of Economic Affairs in the finance ministry has raised questions on their implementation, this time over an application before the Foreign Investment Promotion Board.
In a pre-budget meeting with revenue secretary P V Bhide, a Ficci delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
Jaitley was admitted to a private hospital in New Delhi on September 1 for surgery to manage a long-standing diabetic condition, and had originally been expected to leave after a few days.
Also, the import tariff value -- the base price at which customs duty is determined to prevent under-invoicing -- in case of silver has been reduced to $644 per kg from $694 per kg earlier, a notification by the Central Board of Excise and Customs said.
Many argue there's a mismatch between Prime Minister Narendra Modi's focus on international exposure and his government's diktat to officials on limiting travel.
Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
The high-level panel also asked the government to work towards re-orienting subsidies in a targeted manner from the crop sector to the non-crop sector and redesign the electronic National Agriculture Market.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
Forex dealers said besides continued demand for the American currency from importers, increased capital outflows by foreign funds kept pressure on the rupee.
Apple sought exemption from mandatory local sourcing of components for its products
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Commerce ministry suggests easy conditions for availing capital gains tax exemptions
Finance Minister P Chidambaram has so far given three packages to exporters aggregating Rs 5,200 crore (Rs 52 billion) as the $160 billion export target for 2007-08 appears difficult to meet. He has expressed hope that exports target would be met. Palanimanickam said government was already providing 100 per cent tax benefits on profit on exports apart from indirect tax incentives.
As part of the National Democratic Alliance government's media blitzkrieg to highlight achievements made during its one-year rule, three Union ministers will participate in a 'talkathon' session today during which they will answer questions posted on Twitter.
According to sources, Kingfisher Airlines allegedly diverted funds by opening a current account in HDFC Bank and had a balance of Rs 7.5 crore (Rs 75 million) as on date.
Kamal Nath has written a letter to Prime Minister Manmohan Singh seeking his intervention to resolve over 50 issues which, because of the finance minister's hurdles, have posed many a problem. Nath has stressed that if these issues were resolved in time, "we can achieve growth targets set for industrial production and exports in the remaining months."
As many as 44 shareholders of Flipkart sold their holdings to Walmart. The income tax law requires the buyer to withhold tax while making payment to the sellers, in case they are not exempted from levy of capital gains tax.
The President may not have agreed with the government on many occasions. Not once was this ever made public -- though he told off ministers in private.
