Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
In a two-part post, Tendulkar referred to a tweet he sent out in 2014, stating that his children do not have Twitter handles.
This is first picture of 49-year-old Omar to have appeared in public domain after five months of captivity. It showed him smiling in a snow covered jacket and sporting an unkempt greyish beard.
A direct contest between nominees of the BJP-led NDA and Congress-headed Grand Alliance is on the cards in 20 constituencies
Work on a dozen decisions to start by next week.
Ahead of India's annual budget presentation next week, IMF's chief economist Gita Gopinath has favoured the extension of the pandemic support measures, thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI on Tuesday. "And you want to revisit it and see how effectively that is working and see whether additional support may need to be provided," she said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual Union Budget on February 1. It would be a good time for banks and Non-Banking Financial Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
The XUV100 will be launched in trendy colours like yellow and orange
Far more important than governance is to ensure how different states get necessary representation a'The pressure to expand the council of ministers will come from states where the BJP has formed a government after ousting the Congress,' predicts A K Bhattacharya.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
The Centre on Saturday issued fresh guidelines relaxing the nationwide lockdown, the fourth phase of which ends on May 31.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
As bank loans to MFIs are mostly unsecured, the Indian Banks Association had requested RBI in December to relax its restructuring guidelines for the MFI sector.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
Around 40 per cent of the country is staring at drought-like conditions ahead of the monsoon as water levels have receded sharply.
"The country has taken an important decision with the inspiration of Sardar Patel, to walk a new path to resolve a decades-old problem," Modi said.
The labour ministry has made public a list of 60 officers -- essentially labour commissioners in 20 regions across the country -- along with their e-mail address and contact numbers. They will deal with distress calls from workers who are working under the 'central sphere'.
There are allegations that MFIs are charging exorbitant interest rates and using strong-arm tactics to recover the loans.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
The minister on Tuesday inaugurated a three national training programmes at the National Institute for Micro, Small and Medium Enterprises (ni-msme) in Chennai.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
State Bank of India, India's largest lender, on Thursday slashed interest rates on working capital loans to micro, small and medium enterprises by 0.5-1 per cent effective from December 16.
'There is good indication that the economy is bouncing back, but the problem is, we should look at the eight quarters preceding March 2020.' 'The growth had fallen below 3.1% before March 2020.' 'So, the governments must realise that even if you transform the best of green shoots into banyan trees, you see only 3.1% growth.'
'Mamata's numbers will reduce this time compared to 2016.'
Union Minister Nitin Gadkari said opening of transport and highways will go a long way in instilling confidence among the public and cautioned towards maintaining social distance and adopting all safety measures like hand wash, sanitizing, face masks, etc while operating buses and cars.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
In an interview to PTI, WhatsApp head Will Cathcart said the Facebook-owned company remains committed to privacy and security of users across India and will continue to explain to users that their messages are end-to-end encrypted.
The BJP hailed teh package, saying it reflected the government's commitment towards creating jobs and stimulating the economy.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
"They have apologised for hurting Indian sentiments and have sworn to correct the error by November 30, 2020," she added.
The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
Taking a sceptical view of MUDRA program, Shiv Sena sought to know when the distressed farmers get help and how does the government plan to curb their suicides.
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
'When the lockdown grounded a billion people, nothing had been planned well: Testing, masks, face shields, protective gear, medical equipment, contact tracing ... nothing.' 'Before COVID, if you didn't know that the state had neither the money, nor the intent, nor the capacity to govern wisely and humanely, you were simply blind.' 'After COVID, if we continue to look to the State, look forward to a financial package or ask "What is the government doing" when faced with a calamity, the joke is on us, says Debashis Basu.
Collection dived to 75-80% in November-December from 99% after demonetisation.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
In televised remarks after Finance Minister Nirmala Sitharaman presented the budget, Modi said it has many provisions for the agriculture sector, including for making loans easier for farmers.
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