Economy

Govt may consider one-time tax waiver for FPI conversion

Although the rollback of the higher surcharge on foreign portfolio investors (FPIs) structured as trusts is ruled out, the government hasn't still abandoned the idea of giving some relief to them.

Economy News

Wage code gets Rajya Sabha nod, to become law soon

Parliament on Friday approved the Code on Wages, 2019, a move that could extend the benefit of obligatory minimum wages to all workers — not just those in ‘scheduled employments’ as at present.

India News

Sabka Vishwas Scheme 2019: Get waiver on service tax, excise disputes; should you avail it?

On 5th July 2019, the Hon’ble Minister of Finance, Ms. Nirmala Sitharaman presented her first budget under newly formed Modi.2.0 Government.

Loan against insurance policy and mutual fund News

NHAI not to tap EPFO funds this year too

For the second year in a row, the National Highways Authority of India (NHAI) is unlikely to borrow from the Employees’ Provident Fund Organisation (EPFO) in an effort to rein in the cost of funds.

Economy News

Offshore sovereign bonds: Govt weighing risks and rewards

The government is far from finalising details of its offshore bond sale plan, as it is in the process of working out various operational aspects and weighing potential macroeconomic impact of the move

Economy News

IBC Bill: Lok Sabha clears amendments to strengthen financial creditors’ rights

Since the Rajya Sabha has already cleared the IBC (Amendment) Bill 2019, it will now be made into law after the Presidential assent.

Economy News

IFCI pensioners seek restoration of ‘legitimate’ benefits

As many as 600 retired employees of IFCI have approached the government against what they call the state-run infrastructure lender’s “abrupt” and “arbitrary” tweaking of rules to curtail the

Industry News

Delhi raises power tariff for industry, lowers rates for domestic consumers

The Delhi Electricity Regulatory Commission (DERC) on Wednesday came up with the tariff schedule for FY20, where it reduced the cost of electricity for domestic consumers and increased the same for in

Economy News

Task force on direct tax gets a 15-day extension

The government on Wednesday allowed a 15-day extension to the task force for submitting its report on new direct tax law, agreeing to requests of new members of the panel who needed more time to provi

Economy News

Cheque bounce cases: No retrospective application of Section 143A, says Supreme Court

Settling the law related to interim compensation in the cheque bounce cases, the Supreme Court on Tuesday clarified that Section 143A of the Negotiable Instruments (NI) Act will have no retrospective

India News

Labour laws revamp: Common floors soon for wages across sectors

The Lok Sabha on Tuesday approved the Code on Wages, 2019, a move that could extend the benefit of obligatory minimum wages to all workers — not just those in 'scheduled employments' as at present.

Economy News

Government revises solar pumps costs before installing 17.5 lakh units

The ministry of new and renewable energy (MNRE) has revised the benchmark costs of solar pumps for FY20.

Economy News

Gujarat gives 3 years to Essar Power to pay Rs 200 crore penalty

In a relief to Essar Power Gujarat (EPGL), the Gujarat government has given three years' time to the company to pay penalty exceeding Rs 200 crore for not supplying power as per the power purchase agr

Economy News

Rajiv Kumar is new finance secretary

Rajiv Kumar, currently serving as Financial Services Secretary, was on Tuesday designated as the new Finance Secretary.

India News

Rs 3,050 crore penalty on Bharti Airtel, Vodafone Idea: Three panelists didn’t approve fine

The decision of the Digital Communications Commission (DCC) at its meeting on July 24 to levy a cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for not providing points of inte

Industry News

MEIS to be phased out, Centre to refund levies

The commerce ministry has circulated a Cabinet note to phase out the flagship Merchandise Exports from India Scheme (MEIS) and move to a more WTO-compatible regime, as countries like the US have chall

Economy News

IBC Amendments: Rajya Sabha passes bill to bolster lenders’ supremacy

The Rajya Sabha on Monday cleared the amendments to the Insolvency and Bankruptcy Code (IBC), offering clarity about preference to secured financial creditors over operational ones and giving lenders

Economy News

GST evaders beware: Risky taxpayers to be profiled to pre-empt dodging

In a bid to pre-empt tax evasion under the Goods and Services Tax (GST), the government is looking at options to deal with taxpayers based on their risk profile.

Economy News

Government to set up a welfare board for traders

The industry ministry will set up the National Traders' Welfare Board to help improve access to funds, and suggest simplifications of the Acts and rules applicable to traders, an official source told

Industry News

Path to India becoming $5-trilion economy passes via UP: Amit Shah

Shah said he has heard the path to become the Prime Minister passes through UP.

Amit Shah, $5-trillion economy, Uttar Pradesh, Narendra Modi, industrial projects, 14th Finance Commission, UP investors summit News

Coastal road project: SC refuses to stay Bombay HC’s quashing of CRZ clearance

Three separate appeals have been filed by the Municipal Corporation of Greater Mumbai, Larsen and Toubro and HCC HDC JV against the HC order that had stopped work on the coastal road project, saying t

Coastal road project, Supreme Court, CRZ clearances, ring road in mumbai, Mumbai, Mumbai civic body, BMC, Mumbai civic body News

Steps for transparency: Andhra Pradesh moots judicial preview of bids in big tickets deal

Any work which is more than Rs 100 crore, even if it is split into fractions, will first be sent for a preview that will be done by a judge assigned by the high court.

Andhra Pradesh government, bidding for projects, Andhra Pradesh Infrastructure, Public Private Partnerships, YS Jagan Mohan Reddy News

Atanu Chakraborty’s experience with global investors to come in handy

Indeed his stunning success at DIPAM — the government surpassed the divestment target of Rs 80,000 crore in 2018-19 by a handsome Rs 5,000 crore — is proof of his capability to deliver quietly and

Atanu Chakraborty, CEA, global investors, DIPAM, Narendra Modi, Shaktikanta Das, Gujarat PSU News

Andhra Pradesh HC stays state government’s move to renegotiate PPAs

Renewable power producers had moved the high court challenging the government’s attempt to renegotiate PPAs and revise tariff.

Andhra Pradesh HC, Electricity Act, tariff for renewable power producers, APERC, discoms, Electricity Act News

GST council meet postponed, to be held tomorrow

The 36th GST Council meeting, which was to be held through video conferencing, was called to specifically consider the proposal to slash the GST rate to 5% from 12% on EVs.

GST council meet, GST rate cut, GST rate cut on electric vehicles, Insolvency and Bankruptcy Code, Nirmala Sitharaman News

DoT to frame policy for spectrum allotment to sovereign entities

Regarding backhaul spectrum for private mobile operators, allocation has been done administratively and going forward too, a clear process will be laid out.

DoT,  spectrum allotment,  spectrum allotment to sovereign entities,  mobile access spectrum, Digital Communications Commission  News

States too can use Aadhaar for benefit transfer

Parliament had approved amendments to the Aadhaar and other laws earlier this month wherein the unique identification can be used on a voluntary basis for opening bank accounts or buy SIM cards for mo

Aadhaar, Aadhaar card correction, Aadhaar kendra, Aadhaar number, Aadhaar self service update, Aadhaar benefit transfer, benefit transfer latest updates, Aadhaar news, Aadhaar bill,  News
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