Mumbai: Exporters have dragged the Revenue Intelligence (DRI), India’s primary anti-smuggling intelligence agency to various courts following notices over allegedly wrongfully availing Goods and Services Tax (GST) exemptions. Exporters have filed various writ petitions in Gujarat High Court, Punjab High Court, Bombay High Court and Madras High Court. Some of the courts have decided to
Economy
India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com Inc, to restructure their ties with some major sellers. The government discussions coincide with a growing number of complaints from India’s brick-and-mortar retailers, which have for years accused Amazon
Karnataka has sought more funds from the Centre for investments in Bengaluru’s infrastructure projects such as metro rail, sub-urban rail, road transport etc. Bengaluru is one of the largest contributors to India’s economy. The city requires huge investments, home minister Basavaraj Bommai said at a pre-budget interaction with finance minister Nirmala Sitharaman. The home minister
British Prime Minister Margaret Thatcher famously said that there is no such thing as public money, only taxpayers’ money. Every Union budget is important not because it presents GoI’s accounts, an otherwise boring exercise, but because it is a statement of how the government is managing our — the taxpayers’ — money. Often, it is
The Indian Staffing Federation has asked the government to lower goods and services tax on staffing companies from the current 18% to 5% besides seeking separate industry status for the sector to help them avail certain special privileges. “Staffing companies generate employment and in a majority of the cases these are low-level jobs with average
NEW DELHI: The Centre aims to complete awarding of projects envisaged under Bharatmala, its flagship highways development programme, by 2023. The first phase of the Bharatmala scheme approved in 2017 includes construction of 24,800 km of national highways, in addition to 10,000 km of balance road works under the National Highways Development Programme (NHDP). The
New Delhi: The upcoming budget could unveil a new and continuous framework for faster resolution of disputes over direct taxes. The government is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se Vishwas’ scheme have been discussed, a person familiar to the pre-budget
The Indian economy is not recovering as fast as the government claims and the country’s economy may contract 25 per cent in the current financial year, noted economist Arun Kumar said on Sunday. Kumar further said that due to a big decline in the GDP during the current financial year, the budget estimates have gone
Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said the central bank seeks to tweak regulatory framework in order to strengthen governance in banks and non-banking financial institutions (NBFCs). These measures are in the pipeline and will be announced over the next few weeks, he added. Source link
There are numerous benefits of investment in education. It can reduce poverty, enhance equality, improve health, reduce crime, and promote rights, to name a few. A crucial driver that enables these benefits is the link between education and earnings. Even though the roots of this argument lie in the writings of classical economists like Adam
CHENNAI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said the central bank remains steadfast to take any further measures as may be required to support growth without compromising on financial stability. Delivering the 39th Palkhivala Memorial Lecture, the governor said the principal objective during the pandemic period was to support economic activity;
New Delhi: Higher job lossses among those below the age of 40 years has resulted in an ageing workforce, which is not favourable for a strong recovery of the Indian economy, according to the Centre for Monitoring Indian Economy (CMIE). Recent CMIE data shows that the share of those over 40 years of age, which
Sharrufuddin Ahmad was working as a labourer in a big city in Assam when the pandemic struck, forcing him to return to his native village in the state’s Darang district. Unable to find livelihood, he struggled to make ends meet. That was until he enrolled in a shortterm training programme in which he learnt to
American brokerage BofA Securities on Friday said the Indian economy continues to be “weak”, pointing to activity indicators tracked by it. On the positive side, the brokerage said credit demand is bottoming out and the real lending rates adjusted for wholesale price inflation are falling. It can be noted that there has been a slew
NEW DELHI: The Ministry of Home Affairs (MHA) has extended the validity of registration certificates issued to NGOs under the Foreign Contribution (Regulation) Act, expiring between September 29, 2020 and May 31, 2021, till May 31 this year. It is mandatory for NGOs receiving foreign funding to register under the FCRA and the decision is
Enthusiasm about Budget 2021 has been muted. Finding a balance between prioritising lives vs livelihoods, fiscal prudence vs budget largesse should be priority. But will Finance Minister Nirmala Sitharaman’s third budget have something for everyone as indications suggest? Today, almost a year after Covid-19 descended on India, we are fully cognisant of the far-reaching impact
Kolkata: The Trinamool Congress on Thursday claimed that the new agriculture laws will leave small and marginal farmers at the mercy of big corporates and demanded that the legislation should be immediately repealed. Prices of vegetables such as potatoes and onions have skyrocketed as these have been taken off the essential commodities list, the party’s
After hesitating for nearly six months, GoI now appears to have decided to speed up spending. Government spending, which had remained flat till September, surged 50% y-o-y in November and is expected to grow strongly in December too. On the back of this change in stance, Q4 2020 GDP is expected to grow significantly stronger
The Central Board of Indirect Taxes and Customs (CBIC) has barred its officers from attending seminars, webinars or conferences organised by non-government agencies, unless permitted by the revenue secretary. The instructions were issued to all field units on January 12, and strict compliance without exception has been mandated. The Board has allowed the officers from
Mumbai: Shaktikanta Das is no Alan Greenspan. In 2002, the legendary former Fed chair said: “It was very difficult to definitively identify a bubble until after the fact – that is, when its bursting confirmed its existence.’’ Come 2021, this is what the Reserve Bank of India (RBI) Governor Shaktikanta Das had to say: “The
New Delhi: India’s new Foreign Trade Policy, under formulation, will come into effect from April 1, 2021 for five years and will strive to make the country a leader in international trade, the government said on Tuesday. The information was shared with Members of Parliament during a briefing about the Foreign Trade Policy (FTP). The
KOLKATA: The Rs 12,000-crore microfinance industry in Assam is facing a double whammy. The promises of waiver for micro loans by political parties made in the last few days in the poll-bound state have triggered an alarm while the state assembly only recently passed the microfinance bill suggesting restrictions of certain business practices. Investors planning
The country’s real gross domestic product (GDP) is likely to expand by 11 per cent in the next financial year due to a faster economic recovery and on a low base, says a report. The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching pre-COVID levels following the relaxation of the
The pandemic has affected the credit growth of lenders with both wholesale and retail portfolios of banks and NBFCs taking a hit. Risk-averse corporates sought to deleverage while smaller enterprises sought credit lifeline. Loans to corporates, which had grown to a multi-quarter high of 5.65% in the March 2020 quarter before the onset of the
The Central Board of Direct Taxes (CBDT) has said it will not grant further extensions for filing return for cases where audit reports need to be filed. The last date for filing the audit report is January 15 and for filing returns is February 15, for such cases. “All representations for further extension of the
The joint platform of 10 central trade unions will boycott the tripartite stakeholder meeting called by labour ministry on Tuesday saying it is a farce. Instead, the unions have demanded the government hold physical meeting with adequate time given to all stakeholders to discuss the draft Rules of the four labour codes. The labour ministry
NEW DELHI: India has signalled widening of ties with Taiwan amid the ongoing border crisis with China with its envoy indicating expanding scope of trade and investments ties and people-to-people contacts. India’s representative to Taiwan recently told local media that his office will focus on enhancing bilateral investments, people-to-people exchanges and technical cooperation between Delhi
BENGALURU: India’s first toy manufacturing cluster coming up on a 400-acre plot at Koppal in North Karnataka has received investment proposals worth $ 211 million (Rs 1540 crore) from six firms. Chief Minister BS Yediyurappa performed the ground-breaking at the site, on Saturday, for the toy cluster being developed by Aequs Group, promoted by Aravind
NEW DELHI: A special unit has been created by the government in the countrywide investigation wings of the Income Tax department for focussed probe in cases of undisclosed assets held by Indians abroad and possession of black money in foreign shores, officials said. The Foreign Asset Investigation Units (FAIUs) have been recently created in all
New Delhi: India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi‘s dream of becoming a USD 5 trillion economy by 2025 through rapid structural reforms, Union Minister Piyush Goyal said on Saturday. Addressing the Pravasi Bharatiya Diwas conference, the Commerce and Industry Minister said: “We are working simultaneously to bring about a
- 1
- 2
- 3
- …
- 74
- Next Page »