Net direct tax collection grew by 15.04% to R2,70,731 crore during April-November period of the current fiscal, with nearly three-fifth coming from the corporate sector. The net corporate tax collection, according to a Finance Ministry official, stood at R1,62,897 crore during the eight months ending November 2012. The personal tax mop-up stood at R1,07,215 crore andwealth tax collection was at R619 crore during the period. The net direct tax collection in November stood at R19,863 crore, the official added.
India will be best performing BRICS market
India will be the best performing market among BRICS economies in 2013, JPMorgan chief emerging market and Asian equity strategist Adrian Mowat said on Monday. Mowat recommended moving out of defensives and going long on financial, engineering and realty stocks.
2G accused Balwa moves SC against blanket ban order
Swan Telecom promoter Shahid Balwa and three others accused moved the Supreme Court against the order of its bench that had stayed proceedings on all petitions relating to the 2G case before the Delhi high court. However, the bench headed by Chief Justice Altamas Kabir said that it will take a call only after it goes through the petitions.
India, Ukraine sign nuclear pact, discuss visa
In a bid to enhance safety of its nuclear plants, India on Monday inked a pact with Ukraine to take advantage of its expertise in the sector.
Four other pacts, including framework agreement to expand defence ties were also inked between the two countries. Prime Minister Manmohan Singh also pushed for a liberal visa agreement with Ukrainian President Viktor Yanukovych.
Railways register 19.23% growth in April-Nov period
Indian Railways registered a 19.23% growth in its revenue during the April to November period to R78868.17 crore on the back of a sharp pick up in freight eanings. The total goods earnings of the railways increased by 24.14% to R54487.10 crore in the eight month period of current fiscal as against R43891.25 crore in the previous year.
OECD sees economic traction in US and Britain
Economic growth appears to be gathering traction in the US and Britain, while China and Italy may be about to turn up, the Organisation for Economic Co-operation and Development said. Signals continue to point to weak growth in Germany, France and the euro zone as a whole and likewise in Japan, Russia and Canada, OECD said.