Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
The Indian crude mix is currently hovering at a record high of $42 per barrel as against an average price of $29 per barrel in FY04
Friday cut the import duties on non-alloy steel by five per cent and 10 per cent on ships for breaking, as part of fiscal measures to stem inflation surging towards 8 per cent.\n\n
The government will have to get projects moving.
"Although a finance minister cannot speculate about the growth figures," he said that the macro conditions, which enabled the country to achieve 8.4 per cent growth in the second quarter of this fiscal, would in fact improve in the next two quarters.
Justice S N Phukan, who hails from Assam, would replace Justice K Venkataswamy, who resigned in the wake of a controversy over his simultaneous appointment as chairman of Authority on Advance Rulings on Customs and Excise.
More than half of the retail selling price of petrol and one-third of the selling price of diesel is made up of central and state duties, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
B L Agrawal, a principal secretary in the Chhattisgarh government, was arrested for allegedly bribing people to help him wriggle out of corruption cases pending against him, while J P Singh, a former joint director of in Enforcement Directorate, was held for accepting illegal gratification to favour the accused in the Indian Premiere League betting scam.
The government on Tuesday announced the reduction in duty drawback rates for 403 items from April 7, but kept the rates same for 401 other items.
The fall in the ratio of customs and excise duty collection to GDP has resulted in an overall decline of tax-GDP ratio from an average of 9.32 per cent during the 8th Plan
The corporate income tax breaks make up a relatively small part of $80 billion in business giveaways.
'Wine is an indicator of the quality of life,' says Alok Chandra.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
The government had set a budgetary target of over Rs 1.87 lakh crore for collection from customs duty in current fiscal
The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.
Customs and excise duty rates have been amended mainly to promote Make in India.
It would perhaps make more sense if the finance ministry gave greater emphasis on the need for a similar exercise to phase out exemptions and concessions in indirect taxes like customs and excise.
The Civil Services of India continue to be a prestigious avenue for all those dreaming of 'making it'. Here's how you can be an IAS/ IPS officer.
Union budget was mildly for cable broadcasting industry and DTH.
RIL said it had launched 'an internal probe' into its staff's detention.
He said by paying a penalty, those having undisclosed money can free themselves from various kinds of burden.
.jpg)
The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
.jpg)
To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
The Election Commission has a fight on its hand as candidates use ingenious methods to smuggle in money to Voters.
'To identify with the common man, Modi had to look like one.' 'The disastrous suit with his name written on it never made its reappearance.' 'Frequent dress changes during the day, which led Arvind Kejriwal to calculate that Modi spent crores on his attire ever year, too stopped.' 'Instead, a newer Modi emerged: Humble and eager to serve.' Narendra Modi has cleverly repositioned himself as a man of the masses in the past three years, says Aditi Phadnis.
'Modi as the PM of the country has to take everybody on board and deliver on good governance. That is his responsibility. In that talking alone won't help, he's working.' Commerce Minister Dr Nirmala Sitharaman tells Sheela Bhatt/Rediff.com how the Modi government plans to change India.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
Sectors throw up a wishlist for the Finance Minister.
UPSC toppers -- Ira Singhal, Nidhi Gupta, Vandana Rao and Suharsha Bhagat -- tell Rediff.com how they cracked the tough national exam.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances