The Indian government has demanded that the year be changed to a more recent period, taking into consideration the rise in food prices and rate of inflation.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
India believes rich nations should be away from farm subsidies.
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
The US Trade Representative's (USTR) office will also conduct the Section 301 probe against nine others, including Austria, Brazil, Indonesia, Italy, Spain, Turkey, the Czech Republic, the UK, and the EU, for levying or considering digital services taxes "discriminating against US companies".
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Centre has already started work on developing a mechanism to ensure states producing any item in excess is able to transport it to other states where there is demand
CCPA said the primary issues raised in the notices included 'deficiency in service'. This includes lack of proper response from customer support, driver refusing to take payment by online mode and insisting for cash only.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
Alka Mittal has been appointed interim chairman and managing director of Oil and Natural Gas Corporation (ONGC) - the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for entrustment of additional charge of the post of chairman and managing director (CMD), ONGC to Alka Mittal, director (HR), ONGC for a period of six months with effect from January 1, 2022, or till the appointment of a regular incumbent to the post, or until further order, whichever is the earliest," the Department of Personnel and Training (DoPT) said in an order dated January 3, 2022.
The G20 chair has suggested three areas for the talks in Argentina - the future of work, infrastructure for development and a sustainable food future, areas where India has a lot at stake.
New foreign trade policy to stress manufacturing exports.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
On May 20, more than half dozen officials from Commercial Tax Department raided Kumar's shop which had been running for the past several years.
This import duty exemption would remain in force till October 31 this year.
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
HR Guru Mayank Rautela tells you what you can do when you face such a situation.
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Commerce and Industry Minister Piyush Goyal urged start-ups to focus on three Ps - product, process, people - for building Aatmnirbhar Bharat.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
The Joe Biden administration has come under intense pressure from various quarters, including the powerful US Chambers of Commerce, lawmakers and eminent Indian-Americans, to ship AstraZeneca and other Covid-19 vaccines along with several life-saving medical supplies to India, which is witnessing a deadly surge in coronavirus cases.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
With Tamil Nadu witnessing a sharp increase in the covid-19 cases, the government on Saturday announced clamping a two-week 'total lockdown' across the state to curb the spread of the pandemic.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
Gujarat, for the second consecutive year, has topped the Niti Aayog's Export Preparedness Index 2021 which is aimed at assessing the readiness of the states in terms of their export potential and performance. Gujarat was followed by Maharashtra, Karnataka, Tamil Nadu, Haryana, Uttar Pradesh, Madhya Pradesh, Punjab, Andhra Pradesh and Telengana, according to the government think tank's report. Union territories and states like Lakshadweep, Arunachal Pradesh, Mizoram, Ladakh and Meghalaya were placed at the bottom.
'The people of Jammu and Kashmir are your own people. Do not use them as cannon fodder in your laboratory.'
Amid fresh COVID-19 concerns, Karnataka government on Sunday decided to impose 'night curfew' for 10 days from December 28, between 10 PM and 5 am.
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
In a major relief to thousands of Indian IT professionals, a federal judge in the US on Thursday blocked the enforcement of a temporary visa ban by the Trump administration on a large number of work permits, including the most sought after H-1B visas, ruling that the president exceeded his constitutional authority.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
The Kerala commercial taxes department has slapped a fine of Rs 53.63 crore (Rs 536.3 million) on four online trading companies including Flipkart and Jabong for allegedly doing illegal business in the state.
