Following the Supreme Court ruling against liquor being sold within 500 metres of state and national highways, the infamous Indian jugaad is in play once again. Veenu Sandhu, Nikita Puri, Ranjita Ganesan & Avishek Rakshit find out how India is coping.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
The violent protests forced the Nagaland CM to call off the elections.
Indian economy about to take-off
There has been a quantum jump in the number of complaints of corruption received by the Central Vigilance Commission last year as against those in 2011.
The scheme calls for banks, refineries and hallmarking centres to work together.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Since the present law threatens to unleash an avalanche of litigation over a period of time, it makes sense to replace it with a simpler law and build complexities as more experience is gained, says T N C Rajagopalan.
The government on Tuesday said PPF will not be taxed on withdrawal and only the interest accrued on contributions to employee provident fund made after April 1 will be taxed.
Increase in taxes on luxury cars will not have any effect on the demand
The cigarettes segment had a revenue of Rs 4,554.21 crore during the second quarter of the current fiscal, as against Rs 8,528.47 crore in the year-ago period, down 46.56 per cent.
Even given politicians' penchant for self-promotion, Tamil Nadu Chief Minister Jayalalithaa takes it to another level altogether, says A Ganesh Nadar. Nothing wrong with it, provided it's not done at the tax-payer's expense.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
The states have unanimously pitched for sole administrative powers to carry out assessment, scrutiny and enforcement for entities up to an annual turnover of Rs 1.5 crore.
India must revive public sector firms.
Emerging markets facing 5th year of slow growth: World Bank.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
The passage of the Bankruptcy Code could set the stage for other important legislation that may see India undergo more economic change than all governments combined since the reforms implemented by P V Narasimha Rao in 1991-93, says Ben Merton.
Rediff Labs analyses the relationship between alcohol and revenue generated and reported drunken driving accidents.
He added that the rival parties had tried to project the Bharatiya Janata Party as communal and therefore "untouchable" but the people realised that the party stood for their welfare.
In order to complete in time the project, an initiative of the Kerala government and Dubai Holding, the board also granted special powers to the executive members and strengthened the executive team.
Duty cut on raw material imports are not likely.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
Most say they will review their Make in India plans as prices may top pre-GST level
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
Cigarette companies have substantial wriggle room thanks to India's complex tax structure, which categorises them by length and filter
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Will it benefit you? Or will it lead to an increase in inflation? Bipin Sapra believes it will be some time before GST's benefits reach consumers.
The Bill to amend the Bureau of Indian Standards Act has been passed.
Anyone who has specific and definite information on black money can share it with Supreme Court-appointed Special Investigation Team going into the issue that can crack down on those stashing money abroad and at home.
CBEC has said a duty-free shop in a Customs area should not be treated as a warehouse.
RIL said it had launched 'an internal probe' into its staff's detention.
Re-instatement of 5% custom duty on crude imports will help.
'India has an advantage because we produce more cotton and we have more workforce.'
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
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