The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
B D Pande was Punjab's governor during Operation Bluestar. In this excerpt from his memoir, In the Service of Free India: Memoir of a Civil Servant, Pande reveals what really went on behind the scenes during those dark days in India's history.
Steve Smith smashed an unbeaten half-century to power Australia to a seven-wicket victory against Pakistan in the second T20 International in Canberra on Tuesday.
"Courts rooms are locked down. Do you want to lock down the judiciary," a bench headed by Chief Justice T S Thakur said, adding, "You cannot bring the entire institution to a grinding halt."
While the tax-to-GDP ratio of 9.88 per cent has been assumed for FY21, the same as last year, when it touched a decadal low, for FY22 a ratio of 10.7 per cent has been assumed, an average of the last five years.
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
The fiscal deficit, gap between expenditure and revenue.
Proposals from the Centre's side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move because it involves hiking tax on items consumed by the poor. They have instead proposed raising the 18 per cent slab.
Instead, 2019-20 could be the base from which the Budget estimates for next year are calculated.
CNN-IBN, the 24-hour English news channel, is planning to tap the capital market with its Rs 105 crore (Rs 1.05 billion) initial public offering. The maiden float is expected to hit the markets early next year.
Speculations surrounding Justice Gogoi's appointment as the next CJI emerged following the unprecedented press conference of 4 most-senior judges.
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The government expects to collect this much tax from the cricketing event and has already mopped up Rs 110 crore (Rs 1.1 billion) in the first 15 days as tax deducted at source.
The Centre has set a steep divestment target of Rs 80,000 crore for 2018-19. In the first six months, it has managed to mop up less than Rs 10,000 crore.
Mental health and life coach Anu Krishna tells you how to take control of your life.
The government's plan to mop-up additional revenue from indirect tax may not materialise
As remarkable as DRDO's contribution in containing and treating COVID-19 has been, its success over the last 15 months has been in its primary role of developing conventional defence equipment and technologies.
The revenue department has not seen a single deposit, owing to the outbreak of the COVID-19 pandemic.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
The BJP would want that by March 2022, when UP votes, the economy starts looking up and it heads into the polls with no other issue distracting from its main poll plank of the construction of the Ram temple in Ayodhya.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
Staggered pull-out will help investors if the market continues to rise.
The bench referred to the rising vacancies of judges in the high courts and the increasing number of pending cases.
To young professionals I would say, work hard, play hard and not be constrained by fads like WLB, says Sudhir Bisht.
'I'm following my heart and would like to go where the road leads me. I want to do things that will excite myself and people too,' says Tanushka D'Silva.
Bushfires are an annual problem for Australia, but this season has been unprecedented. As of January 2, about 5.9 million hectares (13.5 million acres) of land has been burnt; that's larger than Denmark and The Netherlands. The Australian state of New South Wales also declared its third emergency in as many months -- the last two times, in November and December. Furthermore, 18 people have died, eight on New Year's Eve, making it one of Australia's most deadly bushfire seasons.
The country's biggest IPO will close on January 18.
Close to 21.5 per cent of this will be sold to Japan's Nippon Life, which will then become the sole promoter of the fund house.
Cinemas, stadiums, town squares and other public gathering places are devoid of people as the coronavirus spreads to at least 118 countries around the world. As of Thursday, the Johns Hopkins University tracker says 1,26,258 people have contracted the disease and 4,638 have died across the globe. The vast majority of the victims have been in China but the country said on Thursday that it had only 15 new cases. The outbreak also claimed its most high-profile victim so far when Hollywood star Tom Hanks announced he and his wife, Rita Wilson, had tested positive. The couple, who are in Australia where Hanks is making a film about Elvis, said they had felt "a bit tired, like we had colds" before being "found to be positive" Take a look.
'My five-year-old grandson Arjun enthusiastically helps in jhadoo pocha, putting clothes in the washing machine, drying and then folding them up,' says Dr Veena Adige.
We're celebrating Father's Day, and Namrata Thakker decided to take some helpful tips from our very own filmi daddies.
'She had indeed grown to full womanhood and was in reality more beautiful than I thought she was.'
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
With over Rs 55,000 crore debt, Air India management has been trying to pare burden by monetising non-core real estate properties.
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
Gone With The Wind approaches a landmark birthday. Take this quiz and celebrate the movie classic.
An official said the government is preparing the financial statements and getting the data room ready for the sales, suggesting that such aspects take time.
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