Govt had raised excise duty on petrol and diesel on Nov 12.
Several depositors and high-networth individuals were duped in the Rs 460.91 crore fraud which was engineered by a Citibank's Global Wealth Manager Shivraj Puri who was working at Gurgaon branch of the bank.
While presenting the Budget on Monday, Finance Minister Pranab Mukherjee, had expressed 'serious concern' over the generation and circulation of black money and said that the government has adopted a five-fold strategy to deal with the menace.
Virtual currencies don't have any intrinsic value and are not backed by any kind of assets.
The government has sent notices to 18 Indians who have stashed away unaccounted money in Liechestein's LGT Bank, asking them to pay Rs 24.66 crore (Rs 246.6 million) as taxes.
Food inflation came down to 10.35 per cent in the first week of August from over 20 per cent late last year.
The minister said that starting July, in four cities -- Delhi, Mumbai, Bangalore and Chennai -- the PPN system had been put in place to include only those hospitals that have agreed to work at given rates for specified procedures. In the rest of the country, the earlier process of rendering cashless facility was still continuing.
Market regulator SEBI has gotten a suggestion for preventing the same individual from holding the position of chairman and managing director simultaneously in listed entities, but apex body of public enterprises SCOPE has opposed such a move, Parliament was informed on Tuesday.
Amendments to RBI Act likely soon
Cashless medical facilities for persons insured with PSU companies have been restored in 449 hospitals in four big cities after hospitals have agreed to charge them at par with non-insured patients, Rajya Sabha was informed on Tuesday.
In October, media reports suggested that the World's largest retailer Wal-Mart made "suspicious payments" totalling millions of dollars to local officials in India.
The Reserve Bank is processing applications of 18 foreign banks, which have shown interest in setting up branches and representative offices in the country, Parliament was informed on Tuesday.
Reserve Bank has lowered interest rates by 0.50 per cent since January 2015.
Public banks face slowdown heat.
'How can you say such things? Just because he takes care of cows...'
"Available inputs suggest that fake Indian currency notes are printed in a neighbouring country and pushed into India through neighbouring countries," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
The government on Friday rejected the demands for tax exemption on setting up power plants, state maritime boards and port trusts, saying it was inconsistent in a moderate tax regime.
The Income tax department to come down heavily on errant taxpayers from India Inc.
The government, however, did not provide details of persons or outfits whose bank accounts were frozen for suspected terror links.
India on Tuesday said it is actively pursuing enforcing the amended tax treaty with Switzerland soon so that information on bank deposits in that country can be obtained in specific cases, Minister of State for Finance S S Palanimanickam said.
The government has seized over Rs 1,764 crore (Rs 17.64 billion) of unaccounted income in the last three financial years, with sectors like real estate, manufacturing and mining generating the most of it, Parliament was informed on Tuesday.
All policy planners want low interest rate, says Jaitley
The government on Tuesday said it would withdraw the stimulus package only after assessing its impact on the economic recovery.
Minister of state for finance Namo Narain Meena said 'No' in a written reply to the Rajya Sabha when asked whether the government is considering any proposal to discontinue insurance agents' commission.
In June, the government had decontrolled petrol, causing a hike of Rs 3.5 per litre, and increased diesel prices by Rs 2 a litre, LPG by Rs 35 a cylinder and kerosene by 3 a litre -- amid protests by opposition parties.
The government on Friday said gains from fake currency business are going abroad through the hawala route and admitted that the quality of fake currency has gone up with better imitation of security features.
The international crude oil price of Indian Basket was $60.10 (Rs 3,765.27) per barrel on December 15, down from $60.58 (3,782.62) per bbl on December 12.
The government had set the direct tax collection target of Rs 3.70 lakh crore (Rs 3.7 trillion) in the budget for 2009-10, which was later revised upwards to Rs 3.87 lakh crore (Rs 3.87 trillion).
The government on Friday said that as many as seven banks in India, including SBI and ICICI Bank, had exposure worth $537 million in Dubai World and other group companies at the time of the Emirate's debt crisis in November 2009.
This is part of the government's move to improve infrastructure.
The government on Tuesday said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period.
The pending amount for current fiscal so far is Rs 68,032.21 crore.
Deshmukh, Minister of State for Finance, is taking on President Pratibha Patil's son Rajendrasinh Shekhawat, the official Congress candidate, in Amravati constituency of Vidarbha as an Independent.
Punita is the founder and managing partner, Pacific Paradigm Advisors
The government on Tuesday said around 49 lakh cases of income tax refunds are pending with the revenue department.
The government is committed to ensure clearance of the Insurance Amendment Bill, which is expected to allow a higher foreign direct investment in the country's insurance sector, a central government minister said.
NDA ally, the TDP continued to disrupt the both Houses of the Parliament over demand for special status to Andhra Pradesh.
'Day by day, the queues will shorten.'
The Indian rupee strengthened 12.9 per cent against US dollar during the year ended March, 2010, touching Rs 45.14, on the back of foreign capital inflows, Parliament was informed on Tuesday.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
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