Supreme Court ruling on Presidential Reference a booster, it says.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Union minister Ram Vilas Paswan appealed to people to boycott products from China and also directed officials of his ministry not to procure any Chinese products for day-to-day office use while his ministerial colleague Ramdas Athawale said all restaurants and hotels that sell Chinese food in India should be closed down.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
The ministry of home affairs has made the use of Aarogya Setu app mandatory for all employees, both private and public, and pinned the responsibility for compliance on the head of respective organisations.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
The helpline 'KIRAN' (1800-599-0019) was launched by Union Minister for Social Justice and Empowerment Thaawarchand Gehlot. The helpline will offer mental health rehabilitation services with the objective of early screening, first aid, psychological support, distress management, mental well being, promoting positive behaviour and psychological crisis management, the minister said.
Agreement between Bharti Airtel and Loop Mobile, which offers mobile services in Mumbai, expired on October 31
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. NSE Nifty rose 36.40 points to 15,337.85.
The finance ministry is likely to favour an approach that would take into account the payment capabilities of telecom companies while deciding the price and process for spectrum auction this year.
The announcement quells fears among some telcos that Chinese players might be banned from participating in 5G trials and roll outs.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
The asset monetisation exercise in the first phase will help BSNL shave off its Rs 14,000-crore debt. The government has said that these firms are strategically important and will not be closed down or divested.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
Trai member A K Sawhney had been acting as chairman since Nripendra Mishra retired on March 22 this year. Before joining Trai, Sarma was member of the Telecom Disputes Settlement and Appellate Tribunal and is a well-known expert in the field, the regulator said.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
People familiar with the proceedings said independent cybersecurity experts from a private consulting firm, technology lawyers, government officials and WhatsApp representatives were asked questions about the Pegasus spyware and the larger issues surrounding surveillance, hacking and remedial measures.
PM has been regularly seeking people's inputs through mygov.in and his app, to assess the mood of the nation.
After lower proceeds from 2G spectrum auctioning, economists question if government can meet the fiscal deficit target.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
RIM says it cannot provide access to the BlackBerry Enterprise Solution as it does not possess any key and the security architecture is the same around the world.
The government, under the Finance Act, 2020, had allowed tax exemption for SWFs and pension funds in the case of incomes from investment in 34 key infrastructure sectors, including hotels, cold chains, educational institutions, hospitals, and gas pipelines.
Telecom Secretary Siddartha Behura is learnt to have made a request to the Prime Minister's Office to convene a meeting that will include PMO, DoT, telecom regulator TRAI and finance secretary to resolve the controversy over spectrum allocation and pricing. He said the department is in dialogue with the ministry of finance regarding certain issues relating to guidelines for auction of 3G spectrum and pricing of 2G spectrum.
A group of officials from the National Treasury and the South African Reserve Bank ) are in India to meet officials from the finance ministry, Reserve Bank and market regulator Securities and Exchange Board of India to discuss regulatory matters related to the deal.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
Ministers in the Narendra Modi government have been busy making presentations on their 100 days of work. But what these presentations do not mention is that decisions by ministers have been few, with plenty of papers and files moving to the Prime Minister's Office, which is increasingly emerging as a centralised clearance point, even for routine and ordinary issues. Though policy paralysis was a term used freely for the United Progressive Alliance regime, questions are now being raised about pending decisions across ministries and whether at least some ministers have turned redundant.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
'As in all our previous cases of suspected panel homes intrusions, BARC India continues to follow its established vigilance and disciplinary guidelines... BARC India appreciates the efforts of the Mumbai Police and will provide the support asked of it,' a BARC India spokesperson said.
The Supreme Court on Friday asked the government to respond to the CAG report that points towards large-scale irregularities and favouritism allegedly by Telecom Minister A Raja in the Rs 70,000-crore (Rs 700 billion) 2G spectrum allocation scam in 2008.
Three more positive cases of novel coronavirus have been reported in India.
Telecom Minister A Raja has been indicted by the CAG in the 2G spectrum scam, which resulted in a loss of about Rs 1,70,000 crore.
The Indian authorities feared that these apps were transferring consumer data to locations outside the country, especially China, in an unauthorised and surreptitious manner. With servers in India, the data of local consumers would be stored in the country.
India Post may be keen to apply for payment bank licence.
Concerned over the series of attacks on mobile phone towers in the valley, the Centre also issued an advisory to the state government.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances