Last week, the government had introduced a fresh round of austerity measures, including bans on first class travel, creation of new posts and holding meetings in five-star facilities.
Utility vehicles leader Mahindra and Mahindra on Monday announced a nominal 0.5 per cent price hike across all models, expect for the premium sports utility vehicles XUV 500 and the Rexton from its Korean arm, despite falling sales, which dipped nearly 8 per cent in June.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
The centre's promise of a new deal for the states is a welcome development.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
Earnings growth is unlikely to see much recovery and sales revenues are also likely to remain muted
Finance Minister Arun Jaitley presented the Union Budget.
The Kerala government on Saturday dismissed as false allegations of corruption levelled by bar owners against the state Finance Minister K M Mani over reopening closed bars and ruled out any probe into the matter.
'The stimulus packages, sector reliefs, loans etc are coming to industry, but state governments have not got any money from GST, no money from excise, no money from any income source.'
Banks asked to maintain record of cash being ferried in these vehicles all the time
The Opposition said that the government was 'bull-dozing'.
Several exemptions have been given to reduce the cost of raw materials.
In 2012-13, the Centre managed to cut fiscal deficit to 4.9% of GDP, lower than the Budget revised estimates of 5.2%
In July, IRS officers in Mumbai held an incendiary meeting where they criticised the alleged interference in 'operational matters' by the department of revenue.
'According to the government's Economic Survey, the Indian state's generosity is not restricted to its poorest citizens. In fact, in many cases, the beneficiaries are disproportionately the well-off.'
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
Earlier, The Nitish Kumar government had banned sale and consumption of country and spiced liquor in rural areas from April 1 this year, but had allowed sale of foreign liquor in towns and cities.
Goods and Services Tax would usher in an unified indirect tax regime.
The number of smartphones booked during the initial hours was 30,000.
IDS-2 and raids to uncover black money stash keep receipts flowing
This Budget plans for an increase to 10.3% of GDP from 9.9%.
There is much work to be done to design a good GST.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
'The simple truth is this: That we had come to assume that a second term was Modi's for the asking. But the fact is that Modi will have to win one, just like everybody else.' 'And so much has he invested in his strongman persona that even a loss of just 50 seats from his extraordinary 282 in 2014 will look to his potential allies and to his party like a defeat,' says Mihir S Sharma.
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
FCMG companies which have plants i Npal may take a hit on revenues.
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
Getting the balance between fiscal restraint and growth-contracting policy remains a problem.
O Paneerselvam did not even sit in Jayalalithaa's office chamber and left her seat vacant in the assembly. This time Amma is not coming back and he has a large number of challenges awaiting him.
Meru Cabs, one of the first radio taxi services in the country, is contesting service tax notices sent to it since 2010 in the Bombay High Court.
This shows the strict pattern of civil services examination conducted by the UPSC for selecting country's top bureaucrats
'Otherwise, how is the government going to make more revenue?' 'The most important thing the GST does is to transfer money from the household consumers who are the most productive users of capital to the most unproductive users of capital, namely the government.'
IT companies see this as a huge opportunity.
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.
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.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
India is working towards policies and regulations that would encourage non-cash payments.
With just eight days left for the winter session, Jaitley and Parliamentary Affairs Minster M Venkaiah Naidu held consultations with Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and Deputy Leader Anand Sharma.
