The government has been taking several policy initiatives to...
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Govt clears ‘Mission Mausam’ with an outlay of Rs2,000 cr for transformative initiatives on climate-related science
The mission's focus will include improving observations and...
GST Council defers any decision on reduction of taxes on Health and Life covers
The council has recommended to constitute a Group of Ministers...
Social media communication hub policy withdrawn: Centre tells Supreme Court
Supreme Court lashed at the government over the hub and observed that it will be “like creating a surveillance state”. On August 24 last year, a nine-judge bench of the Apex Court declared that privacy is a constitutional right.
After public concerns over ‘bail-in’ clause, govt to withdraw FRDI bill
The ‘bail-in’ clause was included in the bill as one of the tools for resolution for bank failure. It provides for depositors to bear a part of the cost of the resolution by corresponding reduction in their claims
Govt introduces bill to check unregulated deposits, prescribes 10-year jail for perpetrators of ponzi schemes
It prescribes monetary penalty and jail term which could be extended up to 10 years for duping gullible depositors. The monetary penalty could be as high as Rs 50 crore. The government has proposed these stringent provisions in wake of several ponzi schemes where gullible investors, mostly poor people, were defrauded of amounts running into thousands of crores of rupees.
UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator
Britain’s government wants future financial services trade with the EU based on an “enhanced” version of the bloc’s basic “equivalence” regime used by Japan, Switzerland and the United States
Piyush Goyal to review performance of PSU insurers on Thursday
A lot of issues like merger of three public sector general insurers, launching of National Health Protection Scheme(NHPS), and increasing the reach of various social security schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and review of Pradhan Mantri Fasal Bima Yojana(PMFBY) are expected to be the part of agenda of the Thursday meeting.
India among over 90 nations without paid paternity leave for new dads: UNICEF
The UN agency noted that around the world, momentum for family-friendly policies was growing. It cited the example of India, where officials are proposing a Paternity Benefit Bill for consideration in the next session of Parliament which would allow fathers up to three months of paid paternity leave.
Govt to push wage code, table social security code in Monsoon Session
The draft Labour Code on Social Security 2018 provides concept of community service order to reform offenders and linking pecuniary penalty with inflation. At present, violation under social security laws attracts either fines, imprisonment or a combination of both.
Here’re the key tax changes that will come into effect from April 1, 2018
While the exemption limit on income from interest for senior citizens has been raised five times to Rs 50,000 per year, the limit of deduction for health insurance premium and medical expenditure has been raised to Rs 50,000 from Rs 30,000 under section 80D of the I-T Act.
Govt notifies new accounting standard, effective April 1
Sandip, Khetan, National Leader and Partner (Financial Accounting Advisory Services) at EY India said Ind AS 115 is going to significantly change the revenue of companies especially in sectors like EPC, technology, mining and metals, real estate, telecom and e-commerce.
Reinsurance of PM Fasal Bima Yojana & other major social security schemes exempted from GST
“ Insurers shall avoid any undue enrichment on this account. Insurers may note that if necessary benefit on account of reduction in premium is not passed on to the insured / Govt., suitable action against the Insurance Companies may be initiated with National Anti-Profiteering Authority under Section 171 of the CGST Act,’’ said a notification by IRDAI on Wednesday