The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
Early GST rollout to help create more jobs, boost output, says IMF.
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
The president's spending plan for the fiscal year that begins on October 1 proposes a rise in the minimum wage and for new spending on infrastructure.
The GST's significance for the BJP's politics is as important as its implications for the Indian economy, says A K Bhattacharya.
The bullishness in the Indian stock market is likely to continue and the benchmark Sensex will reach 32,500 by December 2015, global brokerage firm Morgan Stanley said.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
The eGoM, headed by External Affairs Minister Pranab Mukherjee, is likely to take up issues including demand from developers to revise the 5,000 hectare land ceiling for one SEZ.
Echoing Prime Minister Narendra Modi's views that improving the health of financial markets alone cannot fuel growth, G20 business leaders on Friday said vigorous efforts should be made to go beyond fiscal and monetary policy to kickstart world economy and create jobs.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
Budget is widely seen as a test of Prime Minister Narendra Modi.
On Wednesday, the rupee had dropped by 26 paise.
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The outlook for India's rating would improve if fiscal, inflation and infrastructure metrics get better, a global report said.
Finance Minister Arun Jaitley hints at a world class tax regime.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
According to an Election Commission statement, the two have decided not to avail exemption from income tax on sumptuary allowance and to surrender two of the three Leave Travel Concessions (LTC) available each year.
The vice president met Leader of the party in Lok Sabha Mallikarjun Kharge, P Chidambaram and Deputy Leader of the party in Rajya Sabha Anand Sharma, among others and discussed various points regarding the key tax reform legislation.
The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
Amendments to RBI Act likely soon
The Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
Gandhi attacked Modi and the BJP while latching on to the bribery allegation made by Narendra Patel, an activist of the Hardik Patel-led Patidar Anamat Andolan Samiti.
The government was hoping to roll out the GST regime from April 2016.
The post-1991 economic boom was accompanied by a reduction in indirect taxes and rise in the share of direct taxes, and vice versa in the current slowing
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
Jaitley will be cremated on Sunday afternoon at the Nigambodh Ghat, BJP leader Sudhanshu Mittal said.
Aiyar has contended that this results in revenue loss, malpractices and even death of people consuming illicit liquor
The government package for public sector banks, announced last Friday, has been welcomed by the stock market with the PSU banking index booking smart gains.
This is another blow to Modi's ambitious economic reform agenda that has been stalled by a logjam in parliament
The Finance Minister Pranab Mukherjee on Monday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping refroms in areas like petrol pricing and financial sector.
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