Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
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.
Investment in infrastructure was necessary for the economy, as power shortages, inadequate transport and poor connectivity affect overall growth performance, as per the Economic Survey 2019-20 tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion (Rs 100 lakh crore) over these years on infrastructure so that a lack of infrastructure does not become a constraint to growth," it said.
Biden's authorisation of 5,000 troops in his statement on Saturday included 1,000 who are already on the ground in Afghanistan, according to a defence official. A battalion of 1,000 troops from the 82nd Airborne Division were redirected to Kabul, instead of their original standby position in Kuwait.
Post his resignation, the former leader was jailed for years after the uprising but was freed in 2017 after he was acquitted of corruption charges and abuse of power.
The actress will be presenting Malala at the concert to the crowds.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
No major deals above the value of USD 300 million happened last month, causing the decline from January, which registered deals worth USD 3.5 billion, according to a report released by consultancy firm EY on Wednesday.
Sarmistha Sen, who was based in Plano, Texas, was randomly attacked and killed while jogging on August 1 near the Chisholm Trail Park.
In a letter to the Business School community on Wednesday, Nohria said he will step down from the position of dean of the Harvard Business School (HBS) on June 30, 2020, after a decade in the role.
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 10,247 crore in back taxes from Cairn Energy Plc -- the second time in three months that it has refused to accept an international award against retrospective tax.
The ability to make smarter data-driven decisions will be a critical skill that every employer will be looking at in every prospective employee.
India spent USD 63.9 billion on its military in 2017, an increase of 5.5 per cent compared with 2016 and of 45 per cent since 2008.
Indian bonds remained volatile over the past week on uncertainties over the maiden offshore sovereign bonds issuance, according to a report by DBS Group Research.
China's parliament on Thursday adopted the 14th Five-Year Plan, the mega blueprint containing billions of dollars worth of projects, including the controversial hydropower project on the Brahmaputra river in Tibet close to the Arunachal Pradesh border over which India has raised concerns.
'Today we prove that our democracy still works and that the power always belongs to the people through the power of our vote'
While Delhi, home to 22,000 millionaires and 18 billionaires, has a total wealth of USD 450 billion (Rs 30,15,000 crores), Bengaluru boasts of a total wealth of USD 320 billion (Rs 21,44,000 crores). The city is home to 7,500 millionaires and eight billionaires.
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
A 30-year-old Indian-American physical therapist along with a patient recruiter has been convicted in a USD 1.6 million Medicare fraud scheme, federal prosecutors said.
The United States is going to retain a laser focus on its counterterrorism mission in Afghanistan, President Joe Biden said on Friday, and warned the Taliban of a forceful response to any attack on American forces or disruption of its operations at the Kabul airport.
Internet search giant Google's India-born Chief Business Officer Nikesh Arora will receive a bonus of $3.5 million, the highest amount paid to a top executive at the company for performance in fiscal year 2013.
Britain's 'remain' option gaining traction, with the implied probability of such an outcome at 78 per cent.
The SP Concept SUV will be the first of the products to be rolled out from the company's plant in Andhra Pradesh, where it has invested USD 1 billion. The plant will have a capacity of 3 lakh units annually.
External commercial borrowings to the extent of USD 1 billion to be allowed for aviation sector for next year.
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
Aditi, Diksha, Tvesa to play at Ladies Scottish Open.
Explaining the insane bids of Morris, Maxwell, Meredith, Richardson
After creating history by signing a million-dollar book contract, Amish Tripathi hits the ball out of the park again!
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
Social media giant accused of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors.
The two Congressmen are Mario Diaz-Balart and Ben McAdams.
Disale announced that he will be sharing 50 per cent of his prize money with his fellow finalists to support their "incredible work".
The over 3,800-km-long Brahmaputra, one of the longest rivers in the world passes through China, India and Bangladesh and has several tributaries and sub-tributaries.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
Early this month, US President Donald Trump had supported such a move by Paul.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
Ninety-seven people, including nine children, were killed and two passengers miraculously survived the fiery crash when the PIA flight PK-8303 with 99 travellers on board plunged into a densely populated residential area near the airport here.
Modi's Atma Nirbhar Bharat Abhiyan or Self-reliant India Mission is about 10 per cent of India's GDP in 2019-20 and would rank behind Japan, the US, Sweden, Australia and Germany. But unlike most of the relief packages announced globally, Rs 20 lakh crore is not entirely in new spending and includes Rs 1.7 lakh crore package the government had announced in March as well as the steps taken by the Reserve Bank of India (RBI) such as liquidity enhancing measures and interest rate cuts.
An international airport mulled by state govt in Surat will help to help boost business as well as tourism
