India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
At present, when Indian corporates declare dividends, a dividend distribution tax is slapped at 15 per cent.
The 2009 Budget had raised the rate of MAT to 15 per cent. The industry wants it to be lowered to at least 10 per cent in the forthcoming Budget.
He sought to know from the industry if it wanted India to become a no-tax country.
Budget would have cascading impact on inflation and consumer demand.
Finance Minister Pranab Mukherjee on Tuesday admitted the Reserve Bank of India's move to hike short-term lending and borrowing rates will hurt growth in the near-term, but exuded confidence that economic expansion will gather pace later as a consequence.
The stimulus packages should continue for another year or at least till October 31, he said, pointing out that the economy is yet to achieve the pre-crisis level of nine per cent.
India Inc on Monday gave a thumbs down to the Interim Budget 2009-10, proposed by Finance Minister Pranab Mukherjee, saying it is a non-event and more of a political statement.
In their respective memorandums, the Federation of Indian Chambers of Commerce and the Confederation of Indian Industry asked for re-introduction of investment allowance, restoring the depreciation rate to 25 per cent and an increase in plan public expenditures, primarily in infrastructure, which would boost private investments.
Global experience in allowing corporate groups to set up banks reveals that stringent regulation is the best defence against malpractice.
Finance Minister Pranab Mukherjee today said that the economy was expected to revive in the second half of the year on the back of the latest Index of Industrial Production numbers, return of foreign institutional investors to the markets over the last two months and the normal functioning of the credit markets
It was significant that the ceremony took place at 24, Akbar Road, the party's former national headquarters, and not at its new office in Kotla Road.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
India Inc on Monday welcomed the focus on reviving economic growth to nine per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue.
The US corporate world wanted India to address issues relating to foreign investment in infrastructure and insurance sectors.
Proposed scheme will not provide immunity to tax defaulters.
The party -- happy that the government has accepted its demand for a parliamentary probe into the 2G scam -- might not obstruct most of the important Bills the government would present in this session, said senior BJP leaders.
Asks India Inc for a list of concerns in 4 weeks, to coordinate policy response within 60 days; FM says prevailing cynicism based on perception, not facts.
Finance Minister Pranab Mukherjee on Thursday said the government would introduce the Direct Taxes Code (DTC) Bill that will simplify direct tax laws, in the monsoon session of Parliament beginning July 26.
Describing stimulus as a 'short-term life support' measure, global consultancy firm KPMG executive director Vikas Vasal said, "(They) cannot continue forever. This is one area where timing may never be considered right; however, somewhere down the line the government has to bite the bullet."
This is not the first time that industry has been slow in responding. The finance ministry had to send repeated reminders to industry captains to get feedback on quite a few discussion papers in recent times.
There was an acknowledgement from the highest quarters that there was a need to "boost the delivery system".
Deepak Mehta is not at all happy with the recent hikes in the rates of petrol and diesel. The good point, he feels, is the spending on the social sectors and the steady growth experienced by India Inc despite a global slowdown.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The party said it was 'an inexcusable slip-up', for which responsibility was being fixed and action would be taken.
Congress leaders paid their tributes to India's first woman prime minister Indira Gandhi on her 98th birth anniversary.
On Children's Day, the President showered his blessings and wishes on children, saying that the future of the nation depends on them.
The wedding, which is billed as the India Inc's most expensive yet, was held at Antilla.
Finance Minister Arun Jailtey's time table on Budget day.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
Modi, 68, was administered the oath of office and secrecy by President Ram Nath Kovind at a glittering ceremony at the forecourt of majestic Rashtraparti Bhavan.
The new Congress president is building a core team of youngsters while waiting for his mother's coterie to retire, reports R Rajagopalan.
'If I am angry, then I do not have the right to be in the Cabinet. Whatever I have done, I have ensured that farmers' interests are protected,' Rural Development Minister Chaudhary Birender Singh, who 'abstained' from a meeting with the President on the ordinance, tells Rashme Sehgal.
Kuala Lumpur's delay in roping in India to help track the missing aircraft is an indicator that New Delhi must redouble its diplomacy and capacity demonstration in East Asia, feels Nitin Pai
Bhakti Sharma set a world record on January 10 this year.
Who will make the most of the disruptions of 2016 this year? Mihir Sharma's list of probables.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances