ECONOMY & NATION


Arun Kumar (IANS) 02 March 2016
The IMF projections came in a report on its Executive Board's Article IV annual bilateral discussions following a visit by a staff team on February 12   Noting that the Indian economy is on a recovery path, the International Monetary Fund (IMF) has projected its growth at 7.3 percent...

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The finance minister said banking is a stressed sector, while the government is professionalising public sector undertaking (PSU) banks and recapitalising them   Lauding the RBI move to help banks besieged by stressed loans by easing rules, union Finance Minister Arun Jaitley on...

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New Delhi : Addressing the strong reaction provoked by the Budget 2016-17 proposal on tax treatment of provident fund contributions, Finance minister Arun Jaitley on Wednesday said he would announce the final decision on the matter when he replies to the debate on the Budget in...

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Moneylife Digital Team 02 March 2016
The government has failed to think through the implication of the new tax proposal of pension plans. Instead of creating uniformity, it has created more disparity   Finance Minister Arun Jaitley, in the union Budget 2016, announced “measures for moving towards a pensioned society.”...

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The company also subsequently circulated the latest photos and videos of unrestricted entry-exit at its prestigious project near Lonavala hillstation in Pune district this evening   Barely five hours after the Maharashtra government sealed the Sahara India Pariwar's flagship Aamby...

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India's central bank began implementing the Basel-III norms from 2014   The Reserve Bank of India on Tuesday amended the treatment of certain balance sheet items in determining banks' regulatory capital, towards further aligning these to the international Basel III capital...

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Despite faster expansion in new business and growth of new work with Indian manufacturers' production volumes rising in the month under review, the rate of expansion was marginal   Manufacturing conditions in India improved for the second consecutive month in February with the rise of...

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The top 50 defaulting companies account for Rs.22,903 crore of the total amount due for recovery   A total of Rs.4.18 lakh crore of taxes are pending from corporate defaulters as on January this year, parliament was told on Tuesday.   "The total amount of corporate tax demand...

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AIADMK alleged that the prime minister was kept in the dark and action was delayed into the Aircel-Maxis deal issue   The Lok Sabha on Tuesday witnessed repeated adjournments as AIADMK members created a ruckus to demand action against former union minister P. Chidambaram's son Karti...

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"Piramal Enterprises' step-down wholly owned subsidiary in the USA, Decision Resources Group today announced the acquisition of all of the assets of Adaptive Software and entire control and ownership of its wholly owned subsidiary, AdaptiveRx on February 29, 2016," it told the Bombay Stock...

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A team of officials swooped on the township situated on the outskirts of the famous Lonavala hill station to seal the property's main gates and its administrative sections   Sahara Group's flagship project, Aamby Valley Resort, has been sealed by the Maharashtra government for...

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What has created confusion is over whether only the interest component will be taxed upon withdrawal or the whole corpus itself built after April 1 this year   Adding further confusion over tax treatment of provident fund contributions proposed in the Union Budget, the finance...

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Moneylife Digital Team 01 March 2016
As per the new circular, the assessee can opt to treat income earned from sale of shares or securities as capital gains or business income and the assessment officer cannot question it for the first time   The Ministry of Finance has issued a circular (No6/2016) for providing...

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Moneylife Digital Team 01 March 2016
The government says that 60% of EPF corpus if invested in annuity, no tax is chargeable and salaried employees with monthly income up to Rs15,000 will be kept out of purview of the proposed taxation of EPF   The government’s effort to “bring greater parity in tax treatment of...

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According to Moody's while the budget is moderately positive for most sectors, it is negative for public sector banks   Global credit rating agencies -- Moody's Investors Service (Moody's) and Fitch Ratings -- termed India's fiscal budget for 2016-17 as credit positive for sovereign...

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The salaried class had been shocked by Monday's budget proposal presented by Finance Minister Arun Jaitley that seemed to suggest that 60% of withdrawal from EPF would be taxable   The central government on Tuesday clarified that only some portion of the interest accrued on Employees...

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Biswajit Choudhury (IANS) 01 March 2016
Initial attraction for Africa came from the fact that high cost of land in India and high input costs were making farming unsustainable in India   Indian Agriculture Minister Radha Mohan Singh's call earlier this month asking Indian companies to produce pulses and oilseeds in Africa...

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According to the budget papers, the government has budgeted Rs.5,000 crore under Krishi Kalyan Cess and Rs.10,000 crore under the Swachh Bharat Cess   Union Finance Minister Arun Jaitley is hoping to mop up around Rs.5,000 crore with his new Krishi Kalyan Cess at 0.5 percent on all...

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The move of the People's Bank of China (PBOC), the first of its kind this year, aims to ensure reasonably ample liquidity in the financial system.   US stocks ended lower on Monday after volatile trading, as China's central bank announced a cut in its reserve requirement ratio (RRR)...

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The central government owns seven general insurers - GIC, New India Assurance, National Insurance Company, Oriental Insurance Company, United India Insurance Company, Export Credit Guarantee Corporation and Agriculture Insurance Company of India   The central government may list not...

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