Fuel cess, TDS on large cash payouts bid to destroy truckers and get foreign players in, says an industry body.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
The political crisis faced by the Digambe Kamat-led government in Goa has blown over with the Congress leadership managing to convince the Nationalist Congress Party, protesting alleged irresponsible utterances against it by some Congress MLAs, to vote for the finance bill in the state assembly.
The Telangana Bill will not come up in the Rajya Sabha on Tuesday with the House secretariat on Monday seeking clarifications from the Union law ministry over whether or not it is a money bill.
Mechanism for non-resident service providers made stricter.
The Parliamentary panel examining the nuclear liability bill on Wednesday decided to seek an extension for submitting its report on the controversial legislation. The decision to seek an extension came after top Bharatiya Janata Party leaders including L K Advani, Sushma Swaraj and Arun Jaitley had a meeting with Finance Minister Pranab Mukherjee."The committee cannot hustle through the proceedings," said BJP leader Jaswant Singh.
Bowing to the pressure of Left parties, the government on Wednesday referred the Pension Fund Regulatory and Development Authority Bill to Parliamentary Standing Committee on Finance.
The government on Monday said that matters regarding Chinese intrusion can't be discussed in Parliament as it concerns the security of the country.
Rural populations will get will get employment in the industrial corridors following amendments to the land acquisition bill.
The new law would boost home buyer confidence as well as investment in the realty sector.
Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
Finance Minister P Chidambaram said the improvement in tax-GDP ratio has given enough money to the Central government to vastly increase outlays. The UPA government inherited a tax-to-GDP ratio of 9.2 per cent that has risen to 12.5 per cent in 2007-08. The ratio will be 13 per cent in 2008-09 he said, replying to the debate on the Finance Bill in Lok Sabha. Improvement in tax-GDP ratio has been despite cut in customs, excise & in the current budget cut in personal tax rates.
He has spoken to the party's heads in the Lok Sabha and the Rajya Sabha, Sushma Swaraj and Arun Jaitley, respectively , to seek support for the two items of proposed legislation. He got no assurance.
While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
Agriculture growth this year would be negative at minus two per cent as a result of adverse impact of drought particularly on kharif crop which would be down 15-16 million tonnes.
The cost of food has constantly been on the rise.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
Finance Minister P Chidambaram on Thursday provided some relief to income tax assesses earning up to Rs 111,250 annually.
The bill, known as the Justice Against Sponsors of Terrorism Act, would prevent Saudi Arabia and other countries with alleged ties to terrorist groups from invoking their legal immunity in US courts.
Rewarding those who had supported them and refused to pay their power bills during AAP's agitation, the Delhi government on Wednesday decided to give them a 50 per cent relief on their pending bills and also waived the penalty.
Finding the right way to save taxes requires a great deal of planning. Here's a helping hand.
The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year
The SIT on black money has widened its probe.
While the country imposed limits, it also eased and simplified other restriction to attract foreign inflows. This is done to plug record current account deficit.
The party -- happy that the government has accepted its demand for a parliamentary probe into the 2G scam -- might not obstruct most of the important Bills the government would present in this session, said senior BJP leaders.
The government is making behind-the-scenes offers to other parties in a bid to break them but as long as the Congress is firm on the decision, there is little that the government can achieve on the Insurance Bill.
The negotiations on a draft Lokpal Bill on Monday gained momentum with government and civil society members agreeing on a number of basic principles of the proposed law and deciding to meet more often.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Congress reached out to Samajwadi Party Supremo Mulayam Singh Yadav for his support for passage of the Food Security Bill which is expected to be introduced in the Lok Sabha on Tuesday coinciding with the birth anniversary of Rajiv Gandhi.
The Delhi cabinet on Friday decided to call a special session of the assembly to take up the Jan Lokpal Bill that seeks to punish corrupt officials on February 16 at the Indira Gandhi Indoor Stadium instead of the historic Ramlila ground as announced by ruling Aam Aadmi Party earlier.
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
A bill to amend the Money Laundering Act, 2002 by allowing the appointment of the chairperson and a member of an Appellate Tribunal, was introduced by Finance Minister P Chidambaram in the Lok Sabha on Friday.
More services such as ATM operations are proposed to be brought within the service tax net.
The Aadhaar Bill passed during Budget session last month, overruling amendments moved in Rajya Sabha.
A Bill proposing to prosecute those stashing illicit wealth abroad with 10 year rigorous imprisonment is on cards.
'Why wasn't my no-confidence motion tabled in the House?' asks YSRCP MP Y V Subba Reddy.
A united Opposition on Tuesday tore into an ordinance promulgated to amend land acquisition rules, calling it an "anti-farmer" move brought by "bypassing" Parliament to benefit corporate houses, a charge vehemently denied by the government.
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