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.
Union Minister Jitendra Singh was briefed about this and other activities being done at the Lal Bahadur Shastri National Academy of Administration (LBSNAA) for the training of bureaucrats on COVID-19 related issues during a video conference with the director and faculty of the premier institution.
There is also no restriction on inter-state movement of people, vehicles.
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
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.
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.
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.
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.
Union IT and Communications Minister Dayanidhi Maran has sought fiscal incentives from the finance minister to increase broadband penetration in the country.
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.
The Congress won 77 seats or 42% of seats in the 2017 polls. How then can Gujarat be called a BJP bastion, asks Sanjeev Nayyar.
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 39-year-old will resume his duties with the Australian men's team at the conclusion of the IPL.
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.
The IPL starts on September 19 and, in all likelihood, all the English and Australian players will land in the UAE via a charter flight on September 17, making them available for their respective team's opening match.
Maharashtra Chief Secretary Sitaram Kunte in an order issued on Sunday declared Kerala, Goa, Gujarat, Delhi and the National Capital Region, Rajasthan and Uttarakhand as places of "sensitive origin".
'It is quite natural for our farmers to go for rice and cane when both power and water are almost free.'
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.
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.
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.
'Counter-insurgency operations cannot be conducted by following inflexible SOPs.' 'It is unwise to enter jungles with a large body of troops without precise intelligence,' asserts counter-insurgency expert Brigadier Narender Kumar (retd).
IT companies would be entitled to the same tax benefits as SEZ developers.
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.
Investors are apprehensive about the draft Direct Taxes Code.
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.
Tope's comments came a day after the Centre asked the state to align its order with the SOPs issued by the Union health ministry.
Army Chief Gen MM Naravane on Wednesday described as 'highly regrettable' the December 4 firing incident in Nagaland's Mon district in which 14 civilians were killed and said 'appropriate action,' as required to uphold the law of the land, would be taken based on the investigation.
In a step towards resumption of physical hearings, the Supreme Court on Thursday said that from October 20, all the matters listed on Wednesdays and Thursdays would be heard in physical presence of lawyers and litigants in courtrooms only.
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.
Power developer Reliance Power on Monday sought tax concessions from the government to spur investment in the sector even as it doubted if the target of providing power for all by 2012 could be achieved.
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
