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In New York market, the dollar lost ground against most major rivals on last Friday amid mixed US data on industrial production and consumer sentiment.
Rain gods may be kinder; revenue collections going up: Jaitley
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
Economy showing mixed signals, outlook challenging: FinMin
The biggest disappointment was the compromise on the promised corporate tax reduction path.
'Day by day, the queues will shorten.'
The government plans to implement the single rate GST, which would subsume central excise, service tax and other local levies, from April 1, 2016
India has challenged in a Singapore court a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday. An international arbitration court had on September 25 rejected tax authorities' demand for Rs 22,100 crore in back taxes and penalties relating to the British telecom giant's 2007 acquisition of an Indian operator. Two sources privy to the development said India had 90 days to file an appeal against the tribunal award, and the same was done in a Singapore court earlier this week.
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
Besides Vodafone, several other major MNCs like Nokia and Shell were locked in tax dispute with the revenue department.
Enhanced revenue generation is a priority for the government.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Once the GST is passed, the centre and states will have to adopt their own law.
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
He said the Indian economy in the last few years has become very open, it is integrated globally, it invites investments in most sectors and has made its procedures for investment extremely simple.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares. In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.
'The manufacturing sector and the capital goods industry need all the support that the government can provide, because they are working in a global market where trade restrictions are coming down every day,' says Amar Kaul.
'GST is imperative for India's success.' 'Without GST India will be a less competitive country.'
A slew of challenges that are yet to be resolved include the lack of consensus between the Centre and states over the GST exemption threshold limit, dual control over scrutiny and assessment
The comments from Das assume importance as the government for two consecutive terms have missed its fiscal deficit targets by 10 bps
ADB, however, has cut its growth forecast for developing Asia to 6.1 per cent from the earlier 6.3 per cent in view of subdued economic activity in the US and China.
The cement plants at Barmana (Bilaspur district) and Darlaghat (Solan district) had closed operations on December 14 due to the dispute between the company and truckers engaged in the carriage of cement and clinkers. According to a government statement, Chief Minister Sukhvinder Singh Sukhu said, "We have arrived at consensus, thereby protecting the interests of both the truck-operator unions and the management, besides welfare of all others who were being directly or indirectly hit by the stalemate."
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
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