Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
Banks have sought relaxation in norms for classifying loans to delayed infrastructure projects as sub-standard assets even as the Reserve Bank of India has indicated its unwillingness to ease the group exposure ceiling.
The interim Budget in May this year had extended the depreciation benefit on purchase of new commercial vehicles to September from March 2009. Industry executives said this should be extended as sales of large vehicles slumped 40 per cent in April and May this year. Sales of medium and heavy commercial vehicles had dipped 33 per cent in 2008-2009.
The finance ministry has initiated an internal survey of the faceless regime to examine its effectiveness.
Lifting the ban on the yatra, a division bench of the court comprising Chief Justice R S Chauhan and Justice Alok Kumar Verma said the pilgrimage will start with restrictions like a daily limit on the number of devotees visiting the temples.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
BCCI is planning aggressively to have an IPL in the United Arab Emirates provided the central government green-lights their request for a shift due to the rising cases of COVID-19.
Finance Minister P Chidambaram on Thursday ruled out changes in tax laws for micro-finance institutions and allowing foreign equity in the sector, but kept options open for a separate fund for them.
The government has broadened the ambit of services exempted from service tax for Special Economic Zones as services provided to these zones even from outside would not be taxable.
Civil Aviation Minister Praful Patel on Thursday said he would request the finance ministry for extending tax exemption on leased aircraft, scheduled to be implemented from April 1, 2005.
Retailers are also demanding that home delivery across all forms of retail should be allowed to ensure a level playing field.
'It is quite natural for our farmers to go for rice and cane when both power and water are almost free.'
However, he disappointed big time by not announcing any relief in taxes or change in the tax structure to bring relief to the common man.
Universities and schools across the country have been closed since March 16 when the Centre announced a countrywide classroom shutdown as part of measures to contain the spread of the novel coronavirus.
At a meeting with the Reserve Bank in Mumbai, builders are understood to have demanded 'more measures' from the central bank to provide relief to the cash-starved realty sector through proactive actions from banks. More than 10 leading developers met a group of top RBI officials, comprising executive director of the apex bank, in Mumbai on Tuesday to discuss the prevailing issues in the industry.
Union IT and Communications Minister Dayanidhi Maran has sought fiscal incentives from the finance minister to increase broadband penetration in the country.
The Indian textile industry, hit hard by recession in the United States and the European Union, said a steep 20 per cent rupee depreciation and the Rs 1,400-crore (Rs 14 billion) package has not helped in boosting sagging exports and demanded that the government should do more to help it come out of the woods.
The new DDA flat buyers, who will pay between Rs 700,000 and Rs 77 lakhs (Rs 7.7 million), will gain from the 9.25 per cent interest rate ceiling on new home loans of up to Rs 20 lakhs (Rs 2 million). But a majority of the existing borrowers of private and public sector banks and housing finance companies will miss out on the government-driven initiative.
Mahindra & Mahindra Ltd, the country's largest utility vehicle maker, will roll out a sub-four metre compact model of Verito, the rechristened Mahindra Logan, which is expected to attract only 10 per cent excise duty instead of the earlier 22 per cent. Also, it will have a lower price tag.
No physical offerings such as 'prasad' distribution or sprinkling of holy water will be allowed inside the religious place.
IT companies would be entitled to the same tax benefits as SEZ developers.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
The Malaysian government has said that the plight of the minority ethnic Indians in the country was being seriously looked into by a special cabinet committee to ensure that the community had participation in the national economy and equity.
Faced with the threat of losing tax holiday due to the delay in starting operations, COAI has sought a year's extension upto April 2005 for the unified access service licencees, who got the licences in the first quarter of 2004.
Investors are apprehensive about the draft Direct Taxes Code.
The government had earlier said it would give incentives of around Rs 12 per unit of solar power sold. Companies have, however, already lined up capacities to the tune of 3,000 Mw involving investments of around Rs 48,000 crore (Rs 480 billion). This means that of the total planned solar power capacity, only 50 Mw will be incentivised, while the rest will continue to be very expensive.
The broad idea was endorsed by the DoT's internal panel in its report on the Telecom Regulatory Authority of India's recommendations last year on spectrum management and other licensing issues.
'People of my constituency told me they will continue loving me, but will not vote for me if I am with the BJP.'
The state also said that the police had recorded the statements of 400 witnesses so far and the investigators were in the process of finding the whereabouts of a doctor, who was an accused in the incident that took place at a housing society in suburban Kandivali, where one such camp was held.
The first phase of the programme will kick off with vaccinations in Hyderabad on Monday and in Visakhapatnam on Tuesday (May 18) at Apollo facilities.
Pakistan are scheduled to play three Tests and as many T20Is in a bio-secure environment in England amid the COVID-19 pandemic.
The government is all set to roll out another package of concessions to take the feel-good factor to a political peak, while seeking the vote-on-account in a special session of Parliament in the first week of February.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
