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More than 60,000 new companies were registered in the country in the first nine months of the current fiscal. The 60,489 new companies had authorised capital of Rs 11,986 crore Corporate Affairs Minister Arun Jaitley said in a written reply to Rajya Sabha today. In comparison, 64,395 companies were registered in the entire last fiscal, 2014-15. The number of newly registered companies stood at 92,383 and 98,437 in 2012-13 and 2013-14.
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Over 2,700 entities have declared agricultural income of over Rs 1 crore in the last nine assessment years with the Income Tax department initiating a tax evasion probe in select cases. IT department Assessing Officers across the country, as part of a recent directive, have been asked to "verify" a select number of cases of over Rs one crore agricultural income declaration between assessment years 2011-12 to 2013-14. The move comes in view of a PIL filed in the Patna High Court where concerns have been raised that some of these declarants could be engaged in routing their unaccounted or illegal funds in the "garb" of farm income thereby leading to instances of money laundering.
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Deflationary trend continued for the 16th month in a row as wholesale prices declined by 0.91 per cent in February, prompting India Inc to press for a rate cut by RBI to boost factory output, which has been contracting since November.Food inflation stood at 3.35 per cent in February compared with 6.02 per cent in January, showed official data, which was released today.
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After rising for five months in a row, retail inflation in February fell to 3-month low of 5.18 per cent as food prices including vegetables, pulses and fruits became less costly. Retail inflation, as measured by the Consumer Price Index (CPI), was at 5.69 per cent in January this year. In February last year, it stood at 5.37 per cent.
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Retail inflation eased in February as food prices rose at a slower pace, while Wholesale Price Index stayed in negative territory for the 16th month, raising expectations of interest rate cut by the Reserve Bank next month.
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BSE Sensex rebounds by 131.31 points to end at 24,682.48; Nifty gains 38.15 points to 7,498.75. In yesterday's trade , market benchmark Sensex slipped from its six-week high today by plunging 253.11 points to 24,551.17 while NSE Nifty cracked below the 7,500-mark on profit-booking in healthcare and FMCG stocks amid weak global cues. The 30-share gauge after opening a shade higher, advanced to touch a high of 24,840.77 at the outset before profit-booking in recent gainers took hold, which pulled it down to a low of 24,517.28 and settled at 24,551.17, showing a loss of 253.11 points or 1.02 per cent. The gauge had gained 180.94 points in the previous two sessions.
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The 50-share NSE Nifty broke below the crucial 7,500 level and settled lower by 78.15 points or 1.04 per cent at 7,460.60. Intra-day, it shuttled between 7,545.20 and 7,452.80.
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Countries , which are important from tourism point of view, have not struck India off from the list of safe travel destinations for its citizens even as some nations have advised caution while touring some parts of the country, Lok Sabha was informed today. Responding to another query, he said as many as 384 cases were registered for crimes against foreign tourists in 2014 with Delhi reporting the highest, 135. As many as 66 cases were reported in Goa, followed by 64 in Uttar Pradesh, 31 in Rajasthan and 25 in Maharashtra. However, there is a "continuous increase" in Foreign Tourist Arrivals (FTAs) with over 80 lakh travellers coming to India in 2015, against 76.79 lakh in 2014 and 69.67 lakh in 2013."
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India is replacing China as the center of the world’s oil demand growth as it’s economy expands faster than any other major country and a growing middle class has more money to spend. India’s oil demand grew by 300,000 barrels a day last year, double the average rate in the previous decade, according to a report by The Oxford Institute for Energy Studies this month.
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Number of ATMs in India has increased to 1,95,870 in January 2016 as compared to 1,77,382 in January 2015.
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The Indian rupee trimmed its initial losses, though trading almost flat by a paise down against the American currency at 67.39 in late morning deals on bouts of dollar demand from importers amid lower equities. The Indian unit resumed higher by 67.35 against yesterday's closing level of 67.38 at the Interbank Foreign Exchange (Forex) market.
US visa interview waiver scrapped for kids, senior citizens, foreign workers and students
