The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Before you start planning for taxation, you must understand that at the end of the day, it is just another investment you are making.
A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
'Modi's recent decisions to improve India-China relations, adjust India's neighbourhood policies and to rebalance India's ties with the major powers are linked to his political agenda.' 'Of course, the good part is that this agenda is also in the national interest,' says Ambassador M K Bhadrakumar.
Investment in infrastructure was necessary for the economy, as power shortages, inadequate transport and poor connectivity affect overall growth performance, as per the Economic Survey 2019-20 tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion (Rs 100 lakh crore) over these years on infrastructure so that a lack of infrastructure does not become a constraint to growth," it said.
Though dubbed as the "war hero", the role of Rajapaksa in ending the conflict with the Liberation Tigers of Tamil Eelam with the death of its supremo Velupillai Prabhakaran in 2009 is quite divisive as he stands accused of violating human rights, a charge he vehemently denies.
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
The manifesto proposes to launch a Sagar Mala project to set up new ports and upgrading the existing ones and "stringing them together".
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
NHAI expected to be debt-free by 2030-31 and added the authority, which raised about Rs 14 billion (Rs 1,400 crore) in 2009-10 through capital gains tax exemption bonds, planned to mobilise Rs 40 billion (Rs 4,000 crore) in the current financial year.
We all need an expert whose advice you can trust, who will not start pushing products at you and rather help you understand why your wealth is not growing as it should, says Erik Hon.
Nitin Desai suggests some concrete measures to revive investment and boost growth.
'If we want to ensure this isn't a once-in-four-decade phenomenon, then we have to produce 1,800 players all the time, create infrastructure, so that we are constantly challenging at the top of the ladder.'
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
SBI remains a favourite of most brokerages in the PSB segment.
Sensex zooms 200 points in Muhurat trading, Nifty regains 7,800.
'The government wants foreign companies to capture the insurance market.'
'To represent one's country at the biggest stage is what drives us.' 'My goal is to reach the Olympics. So, Beijing 2022 it is!'
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
Sheridan and Waldron will stand in a match between Tea Tree Gully and Northern Districts in Adelaide featuring Australia's vice-captain Travis Head.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
During Al Nahyan's three-day visit, his first to India, the two countries will discuss ways to enhance ties in a range of areas including energy, economy and security and are expected to sign a number of agreements in sectors like oil nuclear energy, IT, aerospace, railways and electronics.
Biden's proposal also sets aside USD 20 billion for a national vaccination programme and USD 50 billion to scale up coronavirus testing.
Banks to be permitted to raise long-term funds for lending to infrastructure sector with minimum regulatory pre-emption such as CRR, SLR and Priority Sector Lending.
There is a case for analysing the fiscal deficit, separately for expenditure and investment.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
The report cautioned that low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
His comments came in the midst of the disengagement process between Indian and Chinese armies in Pangong Tso areas in eastern Ladakh where the two sides have been locked in a nine-month standoff.
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
