The government is likely to extend interest subvention for some export-oriented sectors for another year to sustain the current growth in exports. This will be announced during the coming Union Budget for 2011-2012.
The government will soon announce a slew of tax incentives for infrastructure and technological upgrade in the TV and entertainment sector.
Retailers are also demanding that home delivery across all forms of retail should be allowed to ensure a level playing field.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
When Finance Minister Arun Jaitley presents the Budget in a short while, there are high expectations from people on raising the income tax exemption limit.
Rivals say the concessions would benefit AirAsia alone.
In a pre-Budget meeting with Revenue Secretary Sunil Mitra, Ficci President Rajan Bharti Mittal said in view of the looming threat of a double-dip recession and another slowdown in western countries, the stimulus should not be rolled back in the Budget in February.
Private airport developers in Delhi, Mumbai, Hyderabad and Bangalore, say landing and parking fees account for a significant proportion of revenues, so offering these services free would be unviable.
The Resistance Front (TRF), which is believed to be a shadow group of LeT, claimed responsibility for the killings. IGP (Kashmir) Kumar said police have seized a vehicle used in the attack and that such killings were being executed at the behest of Pakistan.
Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
It is possible that this experiment might see a rise in the Union government's cost incurred on tax concessions, without any increase in the tax base or coverage, says A K Bhattacharya.
The developers of special economic zones may not get tax benefits for the money spent on meeting the contiguity norms.
Intensifying screening of international passengers at airports, asking educational institutions to postpone their public events, and limiting gatherings, meetings, conferences to 500 people, are among the other measures announced by the government.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Pakistan are scheduled to play three Tests and as many T20Is in a bio-secure environment in England amid the COVID-19 pandemic.
The Centre told the Bombay high court on Tuesday that a door-to-door COVID-19 vaccination programme for senior citizens, specially-abled, bed-ridden and wheelchair-bound people is currently not possible, but it has decided to start 'near-to-door' inoculation centres.
Mumbai recorded a 4x growth in property registrations on a yearly basis in June this year, as restrictions imposed by the state government ended. Mumbai and its suburbs recorded property registrations of 7,857 units in June, compared to 1,839 units registered in June 2020. The registrations for June were also 39 per cent higher, compared to the same month in the pre-pandemic period of June 2019, said a new report by Knight Frank India.
The Maharashtra government has announced fiscal incentives for the state sugar mills to ensure that they continue crushing till all the sugarcane available is consumed.
RCB batsman AB de Villiers can still sense the momentum which his side gained in the 13th edition of the IPL in UAE.
Wankhede is set to host 10 IPL games this season from April 10-25. The first match at the Mumbai stadium is slated to be played on April 10 between Delhi Capitals and Chennai Super Kings.
The revenue foregone due to tax incentives in 2009-10 is estimated at Rs 5,40,269 crore.
Intel, which recently announced over 10,000 job cuts worldwide, on Thursday said impact of the layoff decision was "relatively minimal" on its workforce in India, where the world's largest computer chip-maker plans to set up a manufacturing facility.
The Delhi government has allowed reopening of bars, public parks and gardens from Monday under a phased easing of restrictions, which were imposed due to the second Covid wave.
The government announced several incentives in the five-year Foreign Trade Policy.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
The video purportedly shows pigs roaming freely in the corridors of the hospital, undeterred by people walking nearby.
The ministry of home affairs on Tuesday clarified India's stand of giving Asylum to Myanmar refugees, saying that the country is not a signatory to the 1951 UN Convention relating to the Status of Refugees and the 1967 Protocol thereon.
The government must create a National Technology Acquisition Fund to increase technology infusion in micro, small and medium enterprises.
They want FSI to be in line with export benefits for the sale of residential properties to NRIs and foreigners.
Union Health Secretary Rajesh Bhushan reviewed the status of passengers coming from the UK to India and found positive in Maharashtra, Karnataka, Telangana, Tamil Nadu, West Bengal, Goa, Punjab, Gujarat and Kerala and their response measures in a meeting held through video conferencing.
A Muslim cleric in northwest Pakistan has been arrested under the tough anti-terrorism act for threatening to kill Malala Yousafzai in a suicide attack and instigating people against the Nobel Laureate for her recent comments on marriage, police said.
The officials said Pakistani intelligence operatives have adopted the modus operandi of investing in illegal call exchanges that switch Voice over Internet Protocol (VoIP) calls to normal Indian mobile calls.
The official said that media would be allowed to cover both the Tests from the press box at the stadium.
In the 'Additional guidelines for quarantine of returnees from abroad/contacts/ isolation of suspect or confirmed cases in private facilities', released on Thursday evening, the ministry said there are large number of facilities such as hotels, service apartments and lodges which are "unoccupied due to impact of COVID-19 on travel and tourism".
The study suggested tax rebates for high-end technology companies that set up research and development centres in India.
Defending champions Saurashtra will start their Ranji Trophy preparations with a training camp in Rajkot from the first week of November by strictly following all the state government and BCCI guidelines on COVID-19 pandemic.
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
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